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The Ultimate Salary Guide For Singaporeans

profileMing Feng

About Singapore Salaries

Source: AwwMemes.com

The perfect job is one that matches your passion, challenges you to grow, and gives you opportunities for individual growth and constant learning.

While having all of that is great, a good job must be able to put food on the table too.

Source: giphy

As Singapore’s cost of living is one of the highest in the world,  it is important that we get the salary we deserve for all the hard work we put in.


What is the Average Salary in Singapore?

As of January 2021, the average salary in Singapore is $5,877 per month, inclusive of the employer’s CPF contribution.

On average, candidates moving jobs expect a salary increment of 10% to 15%.

In Singapore, the Median Gross Monthly Income from work, inclusive of CPF contributions of full-time employed residents is at $4,534 (based on the year 2020). This is a nominal annualised change of 4.2% per annum, from the year 2010 to 2020.

Your gross monthly salary, or gross monthly income, refers to your monthly wage or salary before deduction of employee CPF contributions and personal income tax.

Your gross income includes allowances that you’re entitled to under a contract of service such as

  • Basic wages
  • Overtime pay
  • Commissions
  • Tips
  • Other allowances
  • 13th-month bonus

In exchange, Singaporeans are also working an average of 44 paid hours per week to earn this keep.


Key Takeaways When Reading A Salary Guide

Before we move on to a list of occupations and their respective monthly salaries, here’s how this salary guide can be helpful to you:

  • If you are contemplating if you should further your studies, a salary guide can help you better decide if the cost of a higher study is worth it.
  • If you are a job seeker, the salary range will help you manage your expectation.
  • If you are thinking of finding that dream job, this salary guide can help you make smarter career decisions.

 


Singapore’s Median Wage According to Industries

Please select the industry that you are in:

Sources: RobertHalf and Links International

Salaries of Positions in the Finance and Accounting Sector

  • Some of the in-demand qualifications for the finance and accounting sector in Singapore are CA/CPA/ACCA, CFA or MBA.
  • With companies and organisations going through digital transformation, some of the in-demand tech skills are knowledge of AI and BI tools such as Tableau, SQL, Power BI, Oracle BI, ACL and Qlik Sense.
  • The industry is constantly looking to hire for roles in Corporate Finance, Treasury, Tax, Controllership, Financial Analysis.
  • Fintech will also continue to grow in Singapore with tech giants such as Alibaba and Tencent setting up its regional hub locally.

The yearly wage range for careers in the Finance and Accounting sector is as such:

RoleAnnual Base Salary
MinimumMedianMaximum
Accounting/Finance Management
Accountant$50,000$60,000$75,000
Senior Accountant$70,000$80,000$95,000
Manager$90,000$110,000$140,000
Finance Controller$150,000$160,000$180,000
Finance Director$200,000$220,000$280,000
Accounts Payable/ Receivable
Specialist/ Executive$36,000$42,000$54,000
Accountant$55,000$60,000$75,000
Manager$80,000$95,000$130,000
Corporate Finance/ Mergers and Acquisitions
Analyst/ Senior Analyst$70,000$85,000$110,000
Manager$120,000$130,000$150,000
Director$160,000$185,000$250,000
Cost Accounting
Accountant/ Analyst$50,000$60,000$80,000
Manager$90,000$110,000$135,000
Credit
Analyst/ Senior Analyst$60,000$70,000$85,000
Controller$90,000$105,000$130,000
Manager$120,000$135,000$170,000
Financial Planning and Analysis/ Business Analyst
Analyst$65,000$70,000$80,000
Senior Analyst$90,000$95,000$110,000
Manager$120,000$140,000$180,000
Director$220,000$240,000$300,000
Internal Audit
Auditor/ Senior Auditor$72,000$90,000$110,000
Manager/ Senior Manager$120,000$150,000$200,000
Director$200,000$240,000$280,000
Risk/ Compliance
Manager/ Senior Manager$110,000$130,000$180,000
Director$180,000$200,000$250,000
Tax
Analyst/ Senior Analyst$75,000$90,000$110,000
Manager/ Senior Manager$120,000$130,000$180,000
Tax Director$200,000$250,000$350,000
Treasury
Accountant/ Analyst$70,000$80,000$100,000
Manager$120,000$150,000$190,000
Director$200,000$230,000$300,000

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Salaries of Positions in the Financial Services Sector

  • The rise of digital banking will also ensure the demand of various skillsets in the financial services sector. Four organisations were awarded a digital bank licenses in the year 2020.
  • The industry will be looking to hire roles in Risk management, Internal Audit and Regulatory Compliance.
  • Qualifications such as CA, CMFAS, CAMS and CAIA will be of value adding too.

The yearly wage range for careers in the Financial Services sector is as such:

RoleAnnual Base Salary
MinimumMedianMaximum
Regulatory Compliance/ Financial Crime Compliance
Analyst$50,000$60,000$80,000
Associate/Manager/AVP$80,000$100,000$130,000
VP/SVP$135,000$160,000$230,000
Director/ED/MD$260,000$300,000$450,000
Credit Risk
Analyst$60,000$65,000$85,000
Associate/Manager/AVP$80,000$110,000$150,000
VP/SVP$145,000$180,000$250,000
Director/ED/MD$250,000$300,000$450,000
Market Risk
Analyst$50,000$60,000$80,000
Associate/Manager/AVP$80,000$100,000$130,000
VP/SVP$135,000$170,000$230,000
Director/ED/MD$230,000$300,000$450,000
Operational Risk
Analyst$55,000$65,000$85,000
Associate/Manager/AVP$85,000$105,000$135,000
VP/SVP$140,000$165,000$235,000
Director/ED/MD$230,000$300,000$450,000
Financial Control
Analyst$50,000$60,000$80,000
Associate/Manager/AVP$80,000$100,000$130,000
VP/SVP$145,000$160,000$230,000
Director/ED/MD$230,000$300,000$400,000
Fund Accounting
Accountant/Senior Accountant$50,000$60,000$80,000
Associate Manager/AVP$80,000$100,000$130,000
VP/SVP$145,000$160,000$230,000
Director/ED/MD$230,000$300,000$400,000
Internal Audit
Analyst$50,000$60,000$80,000
Associate/Manager/AVP$80,000$100,000$130,000
VP/SVP$145,000$160,000$230,000
Director/ED/MD$230,000$300,000$400,000
Management Reporting
Analyst$50,000$60,000$80,000
Associate/Manager/AVP$80,000$100,000$130,000
VP/SVP$145,000$160,000$230,000
Product Control
Analyst$42,000$55,000$75,000
Associate/Manager/AVP$75,000$90,000$120,000
VP/SVP$120,000$140,000$160,000
Regulatory Reporting
Analyst$50,000$60,000$80,000
Associate/Manager/AVP$80,000$100,000$130,000
VP/SVP$145,000$160,000$230,000
Tax
Analyst$60,000$65,000$85,000
Associate/Manager/AVP$80,000$110,000$150,000
VP/SVP$145,000$180,000$250,000
Director/ED/MD$250,000$300,000$450,000
Treasury
Analyst$50,000$60,000$80,000
Associate/Manager/AVP$80,000$100,000$130,000
VP/SVP$120,000$160,000$230,000
Director/ED/MD$230,000$300,000$450,000
Client Services/Marketing Support
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Corporate Actions
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Documentation Specialist
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Equity Settlements/Fixed Income Settlements
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Loans Administrations/Documentations
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Middle Office/Trade Support (All Products)
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Pricing Analyst
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Treasury Operations
Analyst$40,000$50,000$65,000
Associate/Manager/AVP$60,000$80,000$110,000
VP/SVP$110,000$130,000$170,000
Director/ED/MD$180,000$230,000$350,000
Investor Relations
Analyst$60,000$80,000$110,000
Associate/Assistant Manager/Manager$90,000$120,000$160,000
AVP/VP$150,000$170,000$200,000
Director$190,000$240,000$350,000
Investment Banking
Analyst$60,000$70,000$100,000
Associate/Manager/AVP$70,000$80,000$120,000
VP/SVP$110,000$130,000$210,000
Director/ED$200,000$230,000$350,000
Portfolio Management
Analyst$70,000$80,000$110,000
Associate/Manager/AVP$80,000$90,000$130,000
VP/SVP$120,000$140,000$220,000
Director/ED$250,000$280,000$380,000

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Salaries of Positions in the Information and Technology Sector

  • With the COVID-19 pandemic, Information Technology (IT) has proved its importance to help with the various economic challenges that consumers and companies faced.
  • Businesses will look to continue and strengthen their tech solutions into their operations moving forward.
  • DevOps Engineer, Cyber-Security Consultant and Infrastructure Engineers will be the top priority

The yearly wage range for careers in the Information and Technology sector is as such:

RoleAnnual Base Salary
MinimumMedianMaximum
Head of IT$145,200$186,000$258,000
Technology - Financial Services
Applications Architect$120,000$135,000$200,000
Business Analyst$80,000$110,000$180,000
Change Manager$120,000$150,000$250,000
Chief Information Officer (CIO)$250,000$300,000$500,000
Chief Information Security Officer (CISO)$250,000$300,000$500,000
Cloud Architect$120,000$150,000$220,000
Cloud Engineer$80,000$110,000$180,000
Cyber-Security Manager$120,000$150,000$200,000
Data Analyst$72,000$95,000$168,000
Data Architect$120,000$135,000$200,000
Data Engineer$80,000$110,000$180,000
Data Scientist$90,000$120,000$200,000
Database Administrator$110,000$130,000$180,000
Database Engineer$80,000$110,000$180,000
Developer$90,000$120,000$180,000
DevOps Engineer$100,000$120,000$200,000
Enterprise Architect$180,000$220,000$300,000
Helpdesk Support Analyst$54,000$75,000$110,000
Infrastructure Architect$120,000$135,000$200,000
IT Auditor$80,000$100,000$180,000
IT Auditor/IT Risk$84,000$120,000$240,000
IT Business Partner$120,000$140,000$200,000
IT Director$185,000$210,000$280,000
IT Manager$125,000$150,000$200,000
IT Risk & Governance$90,000$120,000$200,000
IT Security Analyst/Consultant$90,000$120,000$200,000
IT/Systems Engineer$80,000$98,000$125,000
Network Architect$120,000$135,000$200,000
Network Engineer$80,000$100,000$150,000
Network/Infrastructure Manager$90,000$110,000$150,000
PMO$90,000$120,000$250,000
Product Owner/Manager$120,000$150,000$250,000
Program Manager$200,000$250,000$350,000
Project Manager$120,000$150,000$250,000
SAP Consultant$84,000$110,000$145,000
Service Delivery Manager$110,000$130,000$200,000
Solutions Architect$120,000$135,000$200,000
Scrum Master$90,000$115,000$150,000
Systems Administrator$72,000$90,000$130,000
Systems Analyst$72,000$84,000$150,000
Technology - Commerce and Industry
Applications Architect$120,000$135,000$200,000
Business Analyst$84,000$108,000$132,000
Chief Information Officer (CIO)$200,000$220,000$300,000
Chief Information Security Officer (CISO)$250,000$300,000$500,000
Cloud Architect$120,000$135,000$200,000
Cloud Engineer$80,000$110,000$180,000
Cyber-Security Manager$120,000$150,000$200,000
Data Analyst$72,000$95,000$168,000
Data Architect$120,000$135,000$200,000
Data Engineer$80,000$110,000$180,000
Data Scientist$90,000$120,000$200,000
Database Administrator$110,000$130,000$180,000
Database Engineer$80,000$110,000$180,000
Developer$90,000$120,000$180,000
DevOps Engineer$100,000$120,000$200,000
Enterprise Architect$180,000$220,000$300,000
ERP Project/Delivery Manager$100,000$120,000$180,000
Helpdesk Support Analyst$54,000$75,000$110,000
Infrastructure Architect$120,000$135,000$200,000
IT Audit/IT Risk$84,000$120,000$240,000
IT Auditor$80,000$100,000$180,000
IT Business Partner$120,000$140,000$200,000
IT Director$185,000$210,000$280,000
IT Manager$125,000$150,000$200,000
IT Risk & Governance$90,000$120,000$200,000
IT Security Analyst/Consultant$90,000$120,000$200,000
IT/Systems Engineer$80,000$98,000$125,000
Network Architect$120,000$135,000$200,000
Network Engineer$72,000$90,000$145,000
Network/Infrastructure Manager$90,000$110,000$150,000
Presales Consultant$84,000$100,000$150,000
Product Owner/Manager$120,000$150,000$250,000
Project Manager$120,000$150,000$250,000
SAP Consultant$84,000$110,000$145,000
Service Delivery Manager$110,000$130,000$200,000
Solutions Architect$120,000$135,000$200,000
Systems Administrator$72,000$90,000$130,000
Systems Analyst$72,000$84,000$150,000
Technical Sales Engineer$75,000$95,000$130,000

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Salaries of Positions in the Healthcare and Life Sciences Sector

  • With the uncertainty surrounding the COVID-19 pandemic, we will expect an increase in demand in healthcare professionals.
  • Singapore is also an ideal place for adopting health tech with our centralised healthcare data system and infrastructure in place. This will potentially attract more tech-savvy health companies and professionals to set up their research and development here.
  • Jobs in demand for 2020 include staff nurse, social worker, regulatory affairs managers and product managers

The yearly wage range for careers in the Healthcare and Life Sciences sector is as such:

RoleAnnual Base Salary
MinimumMedianMaximum
Marketing$72,000$96,000$120,000
Sales$48,000$72,000$96,000
Business Development$96,000$144,000$192,000
Strategic Planning$72,000$108,000$144,000
Production and Quality
Quality Assurance$72,000$96,000$120,000
Quality Control$72,000$96,000$120,000
Production$48,000$72,000$96,000
Clinical Development
Clinical Operation$57,600$88,800$120,000
Clinical Research Physician/ Medical Affairs$96,000$120,000$144,000
Clinical Statistics$72,000$96,000$120,000
Regulatory affairs$72,000$96,000$120,000
Market Access and Corporate Affairs
Market Access$72,000$96,000$120,000
HEOR$96,000$120,000$144,000

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Salaries of Positions in the Sales and Marketing Sector

  • Due to the boom of e-commerce, online marketing and eCommerce are growing at an extraordinary rate in Singapore.
  • As more companies look to adopt e-commerce and online marketing solutions for their businesses, online marketing specialists will continue to be in demand.
  • In comparison, traditional marketing roles will look to struggle and become increasingly marginalised.
  • Digital marketing and social media skill is also a must as retail look drive results through online marketing efforts.
  • Jobs in demand for 2021 include CRM Manager, Business Development Manager, Digital Marketing Specialist and Marketing Manager

The yearly wage range for careers in the Retail sector is as such:

RoleAnnual Base Salary
MinimumMedianMaximum
Marketing Director$102,000$144,000$204,000
Marketing Manager$60,000$90,000$132,000
Digital Marketing Director$115,200$156,000$230,400
Content Marketing$40,800$66,000$110,400
SEO/SEM/Social Media/ CRM specialist$45,600$90,000$160,800
Public Relations$40,800$80,400$156,000
Art Director/ Graphic Design$40,800$66,000$110,400
Ecommerce$48,000$85,200$156,000
Business Development Manager$50,400$85,200$156,000
Account Manager$50,400$90,000$150,000
Sales team lead$85,200$132,000$156,000
Channel Manager$50,400$90,000$180,000
Commercial Director (Sales & Marketing)$180,000$252,000$360,000

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Salaries of Positions in the Human Resources, Business and Office Support Sector

  • With companies moving towards a “new normal”, the role of the HR team will also be redefined. With working from home being the new default, the HR team will also be focusing a lot on supporting the employee’s health and mental wellbeing.
  • Talent acquisition will not be the same too, with most interviews being carried out online.
  • Companies will be looking for solutions to provide their employees easier access to HR related solutions. The need to integrate clud-based HR systems into business operations will also be a crucial strategy.

The yearly wage range for careers in the Human Resources, Business and Office Support sector is as such:

RoleAnnual Base Salary
MinimumMedianMaximum
Payroll
Specialist/Executive$42,000$48,000$60,000
Manager/Senior Manager$72,000$84,000$108,000
Human Resources
HR Executive/Generalist$36,000$42,000$54,000
HR Assistant Manager$60,000$66,000$78,000
HR Manager$72,000$84,000$108,000
HR Business Partner$72,000$84,000$108,000
HR Director/Head of HR$144,000$180,000$264,000
Talent Acquisition Specialist$48,000$60,000$78,000
Talent Acquisition Lead/Manager$72,000$84,000$108,000
Compensation and Benefits Specialist$48,000$55,000$80,000
Compensation and Benefits Manager$96,000$108,000$132,000
Learning and Development Specialist$48,000$55,000$80,000
Learning and Development Manager$96,000$108,000$132,000
Administrative Assistance
Receptionist$33,000$39,000$60,000
Administrative Assistant$33,000$39,000$60,000
Office Manager$55,000$66,000$96,000

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Salaries of Positions in the Sourcing, Supply Chain and Manufacturing Sector

  • With the COVID-19 pandemic, Singapore’s Sourcing, Supply Chain and manufacturing sector has taken a great impact. The uncertainty in number of cases across countries has impacted Singapore’s output.
  • We will expect a digital transformation of companies where they take this opportunity to upgrade their operations infrastructure. Some of these transformation includes implementing automation and redesigning the supply chain process.

The yearly wage range for careers in the Sourcing, Supply Chain and Manufacturing sector is as such:

RoleAnnual Base Salary
MinimumMedianMaximum
Supply Chain planning/Analyst$43,200$60,000$69,600
Supply Chain Manager$79,200$96,000$139,200
Procurement Manager$79,200$109,200$139,200
Sourcing/Merchandising Manager$63,600$86,400$132,000
Quality Manager$75,600$97,200$144,000
Technical Specialist$54,000$68,400$81,600
Technical Manager$74,400$86,400$132,000
Engineering Manager$74,400$86,400$146,400
Engineering Director$132,000$168,000$214,800
Testing Manager$57,600$74,400$99,600
Quality improvement Manager$82,800$109,200$128,400
Designer$38,400$64,800$74,400
Design Manager$82,800$97,200$144,000
Operation Improvement Manager$74,400$99,600$144,000

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The Cons of Salary Guides

While salary guides are a good gauge for your income as you progress through the various stages of your career.

There are some limitations of over-relying on salary guides.

Depending on the recruitment firm that compiles the guide, most of these salary guides can be skewered towards experienced hires.

Therefore, fresh graduates should take the guides with a healthy pinch of salt.

On top of that, candidates have a tendency of overstating their take-home salary in the hopes of getting a higher salary for their next job.

So again, if you’re a fresh grad, you really should take the average amount as a very loose guide.

Ultimately, choosing a job you love and having the best personal finance habits is the key to a happier life.

And all it takes is small and simple steps like crediting your salary into a high-interest savings account instead of just earning a paltry 0.05% in a regular savings account.

This way, you can maximise your salary and get a headstart on achieving financial independence (and freedom!).

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Take Action now!

Thankfully when you live in Singapore, you can start looking for your next opportunity to improve yourself today. For both salary or even the scope of your work.

Here are some of the platforms which Seedly recommends:

  • SeedlyCommunity on career: Let more experienced community members guide you on your career path
  • SkillsFuture: Use the $500 credit that the government has credited to your account (beyond age 25)
  • TechInAsia Jobs: A new and effective platform to find jobs in tech (IT, design, marketing, finance, related)
  • Glints Jobs: A career discovery and development platform to help you up-skill
  • Startup Jobs Asia: A slightly more mature platform to find jobs in tech (new companies)
  • JobStreet: The No 1 job site in Singapore
  • Glassdoor: To read reviews from previous employees on the current job role and company
  • Nodeflair: To research on salaries of tech positions locally

 

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About Ming Feng
A stint in Bloomberg gifted me with a beer belly, which only grew larger when I moved on to become a Professional Trader. Now I turn caffeine into digestible finance-related content.
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