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Singapore is one of the most thriving economies in the world. If you are looking for a job, joining the banking industry is one of the most rewarding decisions you can make. With a booming job market for banking professionals and most of the banks offering competitive salaries to bankers, this Asian country has emerged as a popular work destination among qualified banking professionals. If you want to know what the basic salary of a banker in Singapore is before applying for a job in the country, this blog is especially for you.
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What is the Average Banker Salary in Singapore
The banking sector in Singapore offers a competitive salary range for professionals. On average, bankers can expect a yearly salary of 70,700 SGD, which translates to a monthly income of 5,891 SGD. It’s important to note that experience and other factors can significantly impact your compensation. Entry-level bankers might start around 36,720 SGD annually (3,060 SGD monthly), while highly experienced individuals can reach 106,960 SGD a year (8,913 SGD monthly). This highlights the potential for significant salary growth within the banking profession in Singapore.
We divided the often occurring wages into various ranges to help provide a better picture of projected salaries. Using this method instead of just calculating the average gives a more accurate picture of the wage distribution for the job title “Banker” in Singapore.
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Experience Wise Banker Salary in Singapore
Experience level is the most important factor in determining remuneration. Of course, salary rises as one’s years of experience do. In general, across all businesses and specialities, Singaporean banking professionals with two to five years of experience make, on average, 32% more than their freshmen and younger colleagues.
Education Wise Banker Salary in Singapore
Higher education is generally associated with higher salaries, but to what extent can a degree increase one’s income? Below are the results of our comparison of professional salaries in Singaporean banking across a wide range of degree-granting positions.
| Education Level | Average Salary Per Year |
| High School | 52,880 SGD |
| Certificate or Diploma | 60,840 SGD |
| Bachelor’s Degree | 80,060 SGD |
| Master’s Degree | 99,100 SGD |
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Organisation Banker Salary in Singapore
We divided up the commonly occurring wages into several companies to give a clearer idea of expected pay in Singapore organizations.
| Organisation | Average Salary Per Month |
| DBS Bank | 8,550 SGD |
| United Overseas Bank | 20,279 SGD |
| OCBC | 8,608 SGD |
| Citi | 12,779 SGD |
| HSBC | 12,167 SGD |
| Standard Chartered Bank | 10,775 SGD |
| Bank of China | 3,463 SGD |
| UBS | 5,500 SGD |
| Citicapital Commercial Corp | 7,800 SGD |
| J.P. Morgan | 5,000 SGD- 15,000 SGD |
| Maybank | 3,000 SGD- 7,000 SGD |
| Bank of America | 4,000 SGD- 7,000 SGD |
| Credit Suisse | 2,000 SGD-4,000 SGD |
| ABC | 9,000 SGD-11,000 SGD |
City Wise Banker Salary in Singapore
We divided the commonly occurring wages into various Singaporean cities in order to better illustrate the projected pay of bankers.
Highest Paying Banking Jobs in Singapore
The anticipated salary for the most sought-after positions in the banking sector are shown below, starting with starting pay.
| Job Positions | Average Salary Per Month |
| Banker | 4,419 SGD |
| Customer Service Representative | 2,719 SGD |
| Branch Manager | 4,363 SGD |
| Vice President | 13,409 SGD |
| Financial Advisor | 4,737 SGD |
| Relationship Banker | 4,184 SGD |
| Licensed Personal Banker | 9,075 SGD |
| Investment-Banker | 6,000 SGD |
| Accountant | 3,000 SGD |
| Business Banker | 5,420 SGD |
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FAQs
In Singapore, the average monthly pay for a banker is $34,800. In Singapore, a banker’s supplemental financial remuneration ranges from $6,000 to $105,000, with an average of $30,000. The salary estimates are based on 74 salaries that Singaporean Banker employees anonymously posted to Glassdoor.
A diploma from the local polytechnic or a bachelor’s degree from an accredited university. a strong desire to work in wealth management. solid communication and interpersonal abilities.
Singapore is a well-known and thriving global financial hub that supports not only its own domestic economy but also the economies of the whole Asia Pacific region. The nation’s banking sector is a major factor in the financial market sector and is quickly becoming one of the greatest in the world.
This was all about Banker Salary in Singapore. If you want to know more about salary updates on different professions follow Leverage Edu and our main page Jobs Abroad.
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