You’re a graduate in Singapore wondering which finance job will land you a salary large enough to start saving up for a condo by the time you’re an associate. You want to earn S$10k (US$7.1k) a month at a bank within about three or four years.
Good luck. Despite the recent drive to promote juniors as banks cut senior staff, five-figure monthly pay packets remain a rarity among young banking professionals in Singapore.
They are almost entirely absent in risk and compliance jobs at associate level, for example, even though those functions have enjoyed several years of strong salary inflation.
Which banking roles pay you more than S$10k a month as an associate? To find out, we looked at average base salaries (the average of the high and low pay ranges) for associate-level jobs in the new Robert Walters Singapore compensation survey.
Unsurprisingly, investment banking positions top the list, with associates in both M&A and corporate finance taking home S$15k a month on average.
You can breach the $10k in other areas of Singapore banking, mainly in sales functions. Relationship managers in corporate banking, for example, pocket $12.1k when they reach associate, according to Robert Walters.
Global markets structuring and transaction banking product are the functions to work in if you want a high salary without having to face clients.
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