A person working as an Accounting Manager in Singapore typically earns around 11,000 SGD per month. Salaries range from 5,500 SGD (lowest) to 17,100 SGD (highest).
This is the average monthly salary including housing, transport, and other benefits. Accounting Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Accounting Manager salaries in Singapore range from 5,500 SGD per month (minimum salary) to 17,100 SGD per month (maximum salary).
The median salary is 11,000 SGD per month, which means that half (50%) of people working as Accounting Manager(s) are earning less than 11,000 SGD while the other half are earning more than 11,000 SGD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Accounting Manager(s) are earning less than 7,430 SGD while 75% of them are earning more than 7,430 SGD. Also from the diagram, 75% of Accounting Manager(s) are earning less than 14,000 SGD while 25% are earning more than 14,000 SGD.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Accounting Manager salaries by experience level and this is what we found.
An Accounting Manager with less than two years of experience makes approximately 6,600 SGD per month.
While someone with an experience level between two and five years is expected to earn 8,730 SGD per month, 32% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 11,700 SGD per month, 34% more than someone with two to five years of experience.
Additionally, Accounting Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 13,900 SGD per month, 19% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 15,000 SGD per month, 8% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 16,100 SGD per month, 7% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+32%|
|5 - 10 Years||+34%|
|10 - 15 Years||+19%|
|15 - 20 Years||+8%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Accounting Manager salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of an Accounting Manager is 8,730 SGD per month.
While someone with a Bachelor's Degree gets a salary of 12,000 SGD per month, 37% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 15,400 SGD per month, 29% more than someone with a Bachelor's Degree.
|Certificate or Diploma|
A Master's degree program or any post-graduate program in Singapore costs anywhere from 42,600 Singapore Dollar(s) to 128,000 Singapore Dollar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Accounting Manager employees in Singapore earn 5% more than their female counterparts.
Accounting Manager(s) in Singapore are likely to observe a salary increase of approximately 13% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in Singapore for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
An Accounting Manager is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
18% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 82% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 8% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Where can you get paid more, working for a private company or for the government? Public sector Accounting Manager employees in Singapore earn 5% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+3%|
|Average Salary 2019||+1%|
Accounting Manager salaries in Singapore are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 1% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Accounting Manager is 33% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||5,020 SGD||-54%|
|Account Executive||7,470 SGD||-32%|
|Accounting Assistant||4,970 SGD||-55%|
|Accounting Associate||5,660 SGD||-49%|
|Accounting Clerk||4,000 SGD||-64%|
|Accounting Coordinator||4,500 SGD||-59%|
|Accounting Manager||11,000 SGD||=|
|Accounting Supervisor||7,800 SGD||-29%|
|Accounting Technician||4,740 SGD||-57%|
|Accounts Executive||6,990 SGD||-36%|
|Accounts Payable and Receivable Specialist||6,120 SGD||-44%|
|Accounts Payable Clerk||4,280 SGD||-61%|
|Accounts Payable Manager||8,630 SGD||-22%|
|Accounts Receivable Clerk||4,560 SGD||-59%|
|Accounts Receivable Manager||9,080 SGD||-17%|
|Assistant Accounting Manager||6,690 SGD||-39%|
|Assistant Auditor||6,020 SGD||-45%|
|Audit Supervisor||10,600 SGD||-4%|
|Auditing Clerk||5,360 SGD||-51%|
|Auditing Manager||11,000 SGD||=|
|Billing Coordinator||6,710 SGD||-39%|
|Billing Specialist||6,220 SGD||-43%|
|Billing Supervisor||7,470 SGD||-32%|
|Bookkeeping Specialist||5,420 SGD||-51%|
|Budget Analyst||6,340 SGD||-42%|
|Budget Manager||9,230 SGD||-16%|
|Business Support Analyst||7,340 SGD||-33%|
|Capital Markets Associate||8,330 SGD||-24%|
|Cash Flow Analyst||7,740 SGD||-30%|
|Cash Management Officer||7,200 SGD||-35%|
|Cashbook Clerk||5,040 SGD||-54%|
|Chartered Accountant||6,590 SGD||-40%|
|Collections Clerk||4,030 SGD||-63%|
|Collections Specialist||5,490 SGD||-50%|
|Corporate Treasurer||14,500 SGD||+32%|
|Cost Accountant||6,450 SGD||-41%|
|Cost Accounting Manager||8,770 SGD||-20%|
|Cost Analyst||8,220 SGD||-25%|
|Credit and Collection Manager||8,940 SGD||-19%|
|Credit and Collection Staff||4,660 SGD||-58%|
|Credit and Loans Officer||4,610 SGD||-58%|
|Credit Controller||7,600 SGD||-31%|
|Debt Adviser||10,100 SGD||-8%|
|Debt Collector||7,060 SGD||-36%|
|Debtors Clerk||5,890 SGD||-46%|
|Deputy CFO||13,300 SGD||+21%|
|Derivative Trader||11,500 SGD||+5%|
|Escrow Assistant||6,500 SGD||-41%|
|External Auditor||8,030 SGD||-27%|
|Finance Associate||6,240 SGD||-43%|
|Finance Executive||12,900 SGD||+17%|
|Finance Licensing Clerk||4,920 SGD||-55%|
|Finance Licensing Manager||7,840 SGD||-29%|
|Finance Licensing Specialist||6,150 SGD||-44%|
|Finance Officer||8,820 SGD||-20%|
|Finance President||15,400 SGD||+40%|
|Finance Relationship Manager||11,300 SGD||+3%|
|Finance Release Analyst||7,250 SGD||-34%|
|Finance Team Leader||8,700 SGD||-21%|
|Financial Actuary||7,860 SGD||-29%|
|Financial Administrator||6,580 SGD||-40%|
|Financial Analyst||8,300 SGD||-25%|
|Financial Applications Specialist||5,480 SGD||-50%|
|Financial Assistant||4,960 SGD||-55%|
|Financial Associate||5,690 SGD||-48%|
|Financial Claims Analyst||7,140 SGD||-35%|
|Financial Claims Manager||8,900 SGD||-19%|
|Financial Commercial Analyst||6,620 SGD||-40%|
|Financial Compliance Analyst||8,190 SGD||-26%|
|Financial Consultant||7,170 SGD||-35%|
|Financial Controller||7,560 SGD||-31%|
|Financial Coordinator||7,120 SGD||-35%|
|Financial Customer Service Manager||9,650 SGD||-12%|
|Financial Dealer and Broker||7,130 SGD||-35%|
|Financial Encoder||4,590 SGD||-58%|
|Financial Manager||16,400 SGD||+49%|
|Financial Operations Manager||11,200 SGD||+2%|
|Financial Policy Analyst||7,550 SGD||-31%|
|Financial Project Manager||7,840 SGD||-29%|
|Financial Quantitative Analyst||8,350 SGD||-24%|
|Financial Reporting Consultant||8,110 SGD||-26%|
|Financial Reporting Manager||9,170 SGD||-17%|
|Financial Services Sales Agent||6,850 SGD||-38%|
|Fixed Assets Administrator||6,270 SGD||-43%|
|Forensic Accountant||6,370 SGD||-42%|
|Fraud Detection Supervisor||7,490 SGD||-32%|
|Fraud Prevention Manager||11,400 SGD||+4%|
|Fund Accountant||5,820 SGD||-47%|
|Grants Coordinator||5,340 SGD||-51%|
|Internal Auditor||8,100 SGD||-26%|
|Internal Control Adviser||8,400 SGD||-24%|
|Internal Control Officer||7,050 SGD||-36%|
|Inventory Accountant||12,200 SGD||+11%|
|Investment Analyst||10,200 SGD||-7%|
|Investment Fund Manager||10,600 SGD||-4%|
|Investment Underwriter||4,740 SGD||-57%|
|Investor Relations Manager||9,510 SGD||-14%|
|KYC Team Leader||9,080 SGD||-17%|
|Management Economist||8,470 SGD||-23%|
|Payroll Clerk||4,550 SGD||-59%|
|Payroll Manager||7,710 SGD||-30%|
|Pensions Administrator||5,900 SGD||-46%|
|Pricing Analyst||8,380 SGD||-24%|
|Private Equity Analyst||8,620 SGD||-22%|
|Proposal Development Coordinator||5,800 SGD||-47%|
|Receivables Accountant||5,210 SGD||-53%|
|Regulatory Accountant||6,200 SGD||-44%|
|Retirement Plan Analyst||8,190 SGD||-26%|
|Revenue Management Specialist||6,850 SGD||-38%|
|Revenue Recognition Analyst||10,400 SGD||-5%|
|Risk Management Director||13,000 SGD||+18%|
|Risk Management Supervisor||9,980 SGD||-9%|
|Tax Accountant||5,610 SGD||-49%|
|Tax Advisor||7,450 SGD||-32%|
|Tax Associate||5,970 SGD||-46%|
|Tax Manager||11,900 SGD||+8%|
|Treasury Accountant||6,090 SGD||-45%|
|Treasury Analyst||8,670 SGD||-21%|
|Underwriting Assistant||4,420 SGD||-60%|
|Vice President of Finance||11,500 SGD||+5%|