Salaries at Citi in Singapore: How much you’ll really earn

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Here’s how much you’ll really earn at Citi in Singapore

If you’re applying for a new investment banking job in Singapore, chances are that Citi will be high up your list of potential employers. Citi is the largest foreign bank by headcount in Singapore and in Q1 this year it ranked in seventh spot for Asia (ex-Japan) IB revenue by bank, according to Dealogic.

But while Citi’s brand carries plenty of cachet in Singapore, applicants for jobs at Citi will also want to know about how generous the bank is when it comes to investment banking salaries and bonuses. To find out about Singapore pay at Citi, we reviewed the bank’s employee data from Glassdoor to produce the compensation table below.

We looked at four broad job ranks at Citi in Singapore that the website had enough data for (there was no information, for example, about MD-level salaries at Citi). And we used high-range base salary and bonus figures for each job level, so it’s safe to assume that they apply to front-office investment bankers, who are typically among the most well-remunerated employees at any bank.

What will your salary and bonus be at Citi in Singapore?

If you’re a graduate wanting to build an investment banking career at Citi, you will likely be impressed by what you could earn at the US bank. Citi’s Singapore annual base salaries for IBD analysts can go as high as S$137k (although this number is likely to be for third-year analysts rather than those fresh out of university).

As a front-office associate at Citi in Singapore, you should expect a salary of about S$150k, which rises to about S$210k when you make vice president (VP).

Insiders at Citi in Singapore tell us that the bank has a reputation for keeping hold of its top performing staff by offering them promotions and relocations across Asia. However, its long-standing investment bankers might have also stayed around to secure the generous compensation on offer at director level. If you’re a director at Citi in Singapore, your base pay will be about S$345k and you’ll take home a bonus of about S$300k.

Citi’s Institutional Clients Group (ICG) – the unit which houses investment banking and trading among other businesses – is unlikely to be cutting back on compensation in Singapore this year. In Q1 2019, ICG revenues in Asia were up 32% to US$2,245m, according to the bank’s financial results.

Where might you earn top dollar at Citi this year? Try M&A. Citi’s results don’t reveal regional figures for individual products, but globally M&A Q1 advisory revenues were up 76% year on year. Citi rose three slots to take fifth place for Asia (ex-Japan) M&A revenue in Q1, according to Dealogic. That’s ahead of Goldman Sachs.

Investment banking salaries and bonuses at Citi in Singapore

Image credit: Anna Anisimova, Getty

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