2023 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 2023 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 |
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Back to Ultimate Singapore Salary Guide
Source: Morgan McKinley