2024 Salary Guide: Financial Services (Front Office, Private & Investment Banking)
Financial services is a broad industry with a wide range of salaries, and the amount a Retail Banker earns varies greatly from that of a Private Banker salary. Want to advance your Financial Services career? Here’s what you need to know:
Hot Financial Services Jobs for 2024 in Singapore
This year, hiring managers are looking out for:
- Private bankers at Director Level and above including team leads and market leads
- Analysts and Associates at investment banks
- Transaction Banking Sales & Coverage Bankers
Newly hired private bankers can expect to command a good salary, with a high base pay and additional bonuses.
Emerging Skills & Hiring Trends
- If you have excellent marketing skills, relationship management skills, and in-depth product knowledge, you’re an ideal candidate!
- But of course, private bankers or qualified candidates with industry experience are preferred
- For a better shot at nailing the job, show that you’ve held extensive portfolios and occupied high ranking positions in other private banks
Singapore Average Salary: Financial Services (Front Office)
This is the average salary in Singapore for Financial Services (Front Office) jobs:
Investment Banking M&A / ECM / DCM
| Job Title | Average Annual Salary (SGD) |
| Analyst | $150,000 |
| Associate | $220,000 |
| VP | $320,000 |
| Director | $450,000 |
| Managing Director | $620,000 |
Private Banking
| Job Title | Average Annual Salary (SGD) |
| Associate | $96,000 |
| AVP / Associate Director | $150,000 |
| VP / Director | $240,000 |
| Executive Director | $350,000 |
| Managing Director | $480,000 |
| Trade Finance | $200,000 |
| Cash Management | $200,000 |
| Relationship Manager | $200,000 |
| FI RM (Coverage Bank/Non-Bank) | $200,000 |
| Product Manager (Cash / Trade / Liquidity / Custody | $200,000 |
Private Equity
| Job Title | Average Annual Salary (SGD) |
| Analyst | $100,000 |
| Associate | $180,000 |
| VP | $300,000 |
| Director | $400,000 |
| Managing Director | $600,000 |
Retail Banking / Premier Banking
| Job Title | Average Annual Salary (SGD) |
| Bancassurance / Insurance Specialist | $50,000 |
| Priority Banking / Premier Banking RM | $45,000 |
| Employee Banking / Work Place Banking / Business Banking Client Acquisition | $43,000 |
| Mortgage Specialist | $45,000 |
Looking to switch jobs this year? We’ve got your back
Download one of our free resume templates to use. We have templates for different industries and roles.
While you’re doing up your resume, why not check out our CV Guide and new Cover Letter Guide?
They’re chock-full of useful tips for an absolutely killer CV and Cover Letter – our tricks of the trade from over a decade of recruitment experience.
And if you need some extra help, we’ll even polish up your CV or Cover Letter in no time. Just reach out to us.
Back to Ultimate Singapore Salary Guide
Source: Morgan McKinley
Outside of his professional pursuits, he enjoys road cycling, diving deep into biographies, and devouring copious amounts of dumplings.
- Teacher Resume Sample - February 25, 2024
- Software Engineer/Software Developer Resume Sample - February 24, 2024
- Oil & Gas (Engineering) Resume Sample - February 23, 2024