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Banking Average Salaries in Singapore 2019

How much money does a person working in Banking make in Singapore?

9,632 SGD per month
Average Monthly Salary
A person working in Banking in Singapore typically earns around 9,632 SGD per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different Banking jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst10,863 SGD
Assistant Bank Branch Manager9,691 SGD
Assistant Bank Manager11,310 SGD
ATM Manager10,579 SGD
ATM Service Technician5,561 SGD
Bank Accounts Analyst7,797 SGD
Bank Accounts Controller8,163 SGD
Bank Accounts Executive8,825 SGD
Bank Accounts Manager9,382 SGD
Bank Auditing Manager9,423 SGD
Bank Branch Manager11,177 SGD
Bank Clerk5,903 SGD
Bank Compliance Specialist8,356 SGD
Bank Manager16,584 SGD
Bank Operational Risk Manager12,595 SGD
Bank Operations Head13,376 SGD
Bank Operations Officer8,109 SGD
Bank Operations Specialist10,201 SGD
Bank Process Manager8,768 SGD
Bank Product Manager 8,718 SGD
Bank Programme Manager10,267 SGD
Bank Project Manager10,371 SGD
Bank Propositions Manager10,895 SGD
Bank Quantitative Analyst8,802 SGD
Bank Regional Manager11,848 SGD
Bank Regional Risk Officer8,426 SGD
Bank Relationship Manager9,705 SGD
Bank Relationship Officer7,475 SGD
Banker7,535 SGD
Banking Business Analyst8,944 SGD
Banking Business Development Officer7,962 SGD
Banking Business Planning Executive11,329 SGD
Banking Product Manager10,680 SGD
Banking Reference Data Manager9,404 SGD
Banking Risk Analyst8,905 SGD
Banking Technical Analyst7,377 SGD
Bankruptcy Coordinator9,094 SGD
Budget Analyst8,313 SGD
Cards Marketing Manager11,124 SGD
Cash Management Manager12,420 SGD
Check Processing Manager11,748 SGD
Commercial Vault Associate8,321 SGD
Corporate Dealer9,096 SGD
Credit Analyst10,276 SGD
Credit and Collections Manager10,953 SGD
Credit Card Fraud Investigator9,278 SGD
Credit Portfolio Manager12,942 SGD
Credit Risk Analyst10,267 SGD
Credit Risk Associate9,659 SGD
Direct Bank Sales Representative8,327 SGD
Financial Bank Planning Consultant10,071 SGD
Financial Banking Analysis Manager10,982 SGD
Financial Banking Assistant7,427 SGD
Financial Banking Systems Manager10,495 SGD
Foreign Exchange Manager10,851 SGD
Fraud Analyst9,023 SGD
Fraud Detection Associate8,924 SGD
Fraud Detection Manager10,984 SGD
Fraud Detection Supervisor8,986 SGD
Internal Bank Audit Manager11,363 SGD
Internal Bank Auditor8,292 SGD
International Banking Manager14,087 SGD
Loan Analyst8,871 SGD
Loan Area Manager10,032 SGD
Loan Audit Team Leader10,236 SGD
Loan Branch Manager10,094 SGD
Loan Business Development Officer8,531 SGD
Loan Clerk6,373 SGD
Loan Collection Manager9,875 SGD
Loan Collector5,398 SGD
Loan Examiner6,770 SGD
Loan Processing Manager8,329 SGD
Loan Processor7,703 SGD
Loan Quality Assurance Auditor8,754 SGD
Loan Quality Assurance Manager9,697 SGD
Loan Quality Assurance Representative7,706 SGD
Loan Review Manager8,647 SGD
Loan Team Leader8,611 SGD
Mortgage Advisor8,189 SGD
Mortgage Collection Manager9,116 SGD
Mortgage Collector6,211 SGD
Mortgage Credit Analyst7,136 SGD
Mortgage Credit Manager8,905 SGD
Mortgage Development Manager10,958 SGD
Mortgage Document Reviewer6,965 SGD
Mortgage Funding Manager11,082 SGD
Mortgage Operations Manager11,882 SGD
Mortgage Payment Processing Clerk6,170 SGD
Mortgage Processing Manager10,006 SGD
Mortgage Processor7,091 SGD
Mortgage Quality Assurance Auditor8,766 SGD
Mortgage Quality Assurance Manager9,132 SGD
Mortgage Servicing Clerk5,527 SGD
Mortgage Servicing Manager9,584 SGD
Mortgage Underwriter6,297 SGD
Online Banking Manager11,707 SGD
Payment Processing Clerk5,685 SGD
Personal Banker8,803 SGD
Personal Banking Advisor 8,937 SGD
Phone Banker7,249 SGD
Private Banker9,019 SGD
Reconciliation and Investigation Specialist8,096 SGD
Teller5,657 SGD
Trade Officer6,373 SGD
Trade Product Manager9,370 SGD
Trader7,427 SGD
Treasury Operations Officer8,696 SGD

Banking Jobs Salary Distribution in Singapore

Median and salary distribution monthly Singapore Banking

Abount These Figures: Salary Range, Median and Percentiles

The Banking salaries in Singapore range between 5,447 SGD per month (minimum salary) to 17,810 SGD per month (maximum salary).

The median salary is 9,246 SGD per month, which means that half (50%) of people working in Banking are earning less than 9,246 SGD while the other half are earning more than 9,246 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 people working in Banking are earning less than 6,612 SGD while 75% of them are earning more than 6,612 SGD. Also from the diagram, 75% of people working in Banking are earning less than 12,446 SGD while 25% are earning more than 12,446 SGD.

What is the difference between the median and the average salary? What should you be looking at?

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 plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary

Banking Salary Forecast and Trend in Singapore

How do Banking salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Singapore Banking
Average Salary 2016    =  
9,024 SGD
Average Salary 2017    +4%  
9,358 SGD
Average Salary 2018    +1%  
9,480 SGD
Average Salary 2019    +2%  
9,632 SGD
Percentage increase and decrease are relative to the previous value
Banking salaries in Singapore are rising in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.

Banking Hourly Average Wage in Singapore

56 SGD per hour
Average Hourly Wage

The average hourly wage (pay per hour) in Singapore for Banking is 56 SGD. This means that the average person in Singapore earns approximatly 56 SGD for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one working 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 annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly SingaporeWe compared Singapore salaries for Banking and All Jobs and we found that Banking salaries are 13% more than those of All Jobs.
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