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Chief Financial Officer Average Salary in Singapore 2024

How much money does a person working as Chief Financial Officer make in Singapore?


Average Monthly Salary
17,000 SGD
( 204,000 SGD yearly)

LOW
8,170
SGD
AVERAGE
17,000
SGD
HIGH
26,700
SGD
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Chief Financial Officer in Singapore typically earns around 17,000 SGD. Salaries range from 8,170 SGD (lowest) to 26,700 SGD (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Chief Financial Officer salaries in Singapore vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Chief Financial Officer Pay Scale and Salaries in Singapore

Median and salary distribution Singapore Chief Financial Officer monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
15,900 SGD or more
10% of people earn
14,000 to 15,900 SGD
20% of people earn
9,850 SGD or less
65% of people earn
9,850 to 14,000 SGD
Minimum Salary
8,170 SGD
Median
16,000 SGD
Maximum
26,700 SGD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Chief Financial Officer in Singapore range from 8,170 SGD (starting salary) to 26,700 SGD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 16,000 SGD, half of the professionals who work as Chief Financial Officer in Singapore earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Chief Financial Officer in Singapore earn less than 13,000 SGD, while 75% earn more. Similarly, the chart shows that 75% earn less than 18,300 SGD while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Chief Financial Officer in Singapore compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 9,850 SGD to 14,000 SGD. About 20% of salaries are below the 9,850 SGD mark, while 10% fall within the range of 14,000 SGD to 15,900 SGD. Only 5% of individuals have salaries exceeding 15,900 SGD.

Salary Comparison by Years of Experience / Chief Financial Officer / Singapore

How do experience and age affect pay?

0 - 2 Years
9,560 SGD
2 - 5 Years+42%
13,500 SGD
5 - 10 Years+31%
17,800 SGD
10 - 15 Years+23%
21,900 SGD
15 - 20 Years+6%
23,300 SGD
20+ Years+10%
25,500 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Singapore Chief Financial Officer
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Chief Financial Officer and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 9,560 SGD.

While someone with an experience level between two and five years is expected to earn 13,500 SGD, 42% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 17,800 SGD, 31% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 21,900 SGD, 23% 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 23,300 SGD, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 25,500 SGD, 10% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Chief Financial Officer / Singapore

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Chief Financial Officer.

High School
11,900 SGD
Certificate or Diploma+16%
13,700 SGD
Bachelor's Degree+46%
20,000 SGD
Master's Degree+23%
24,700 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Singapore Chief Financial Officer
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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 salaries by education level for the position Chief Financial Officer in order to make a comparison.


Level 1: High School

Employees at this education level have an average salary of 11,900 SGD.


Level 2: Certificate or Diploma

At this level, the average salary becomes 13,700 SGD, 16% more than the previous level.


Level 3: Bachelor's Degree

At this level, the average salary becomes 20,000 SGD, 46% more than the previous level.


Level 4: Master's Degree

At this level, the average salary becomes 24,700 SGD, 23% more than the previous level.



Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Singapore costs anywhere from 42,400 SGD to 127,000 SGD 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 to a higher-paying job. The numbers seem to support the theory. 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.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Chief Financial Officer / Singapore

Salary comparison by gender Singapore Chief Financial Officer monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Chief Financial Officer in Singapore, the average difference between the salary of male and female employees is 5%.

Male
17,500 SGD
Female-5%
16,700 SGD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Singapore for all Careers

Salary comparison by gender monthly Singapore
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Average Annual Salary Increment Percentage / Chief Financial Officer / Singapore

How much are annual salary increments in Singapore for individuals working as Chief Financial Officer? How often do employees get salary raises?

Individuals working as Chief Financial Officer in Singapore are likely to observe a salary increase of approximately 15% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Singapore Chief Financial Officer
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Singapore / All Professions

Annual Salary Increment Rate Singapore
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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.

How to calculate the salary increment percentage?

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

The average salary increase in one year (12 months) in Singapore is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Chief Financial Officer / Singapore

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Singapore Chief Financial Officer
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14% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 86% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
86%
No Bonus
14%

Types of Bonuses Considered

Individual Performance-Based Bonuses

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.

Bonuses Are Not Commissions!

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.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting 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.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

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.

Average Hourly Wage / Chief Financial Officer / Singapore


98 SGD per hour

The average hourly wage (pay per hour) for individuals working as Chief Financial Officer in Singapore is 98 SGD.This is the rate they get paid for every worked hour.


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

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Chief Financial Officer in Singapore is 47 SGD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Executive and Management-100%
Account Coordinator7,470 SGD-56%
Account Director9,250 SGD-46%
Account Executive9,050 SGD-47%
Account Manager8,840 SGD-48%
Administration Manager8,640 SGD-49%
Administration Officer4,590 SGD-73%
Administration Supervisor7,140 SGD-58%
Administrative Clerk3,610 SGD-79%
Administrative Officer3,770 SGD-78%
Area Director8,700 SGD-49%
Area Manager8,330 SGD-51%
Asset Protection Associate9,910 SGD-42%
Assistant Director9,490 SGD-44%
Assistant General Manager9,330 SGD-45%
Assistant Manager9,700 SGD-43%
Assistant Managing Director11,000 SGD-35%
Assistant Operations Manager10,800 SGD-37%
Assistant Project Manager9,250 SGD-46%
Assistant Section Head7,610 SGD-55%
Assistant to CEO8,910 SGD-48%
Assistant Vice President10,200 SGD-40%
Associate Account Director9,040 SGD-47%
Associate Director9,690 SGD-43%
Bid Manager11,200 SGD-34%
Branch Manager10,500 SGD-38%
Business Development Manager11,500 SGD-32%
Business Operations Associate9,700 SGD-43%
Business Operations Lead9,970 SGD-41%
Campaign Manager9,980 SGD-41%
Catering Coordinator5,710 SGD-66%
Catering Manager9,740 SGD-43%
CEO17,500 SGD+3%
Chairman of The Board18,200 SGD+7%
Chairman Office Manager11,900 SGD-30%
Chief Commercial Officer13,100 SGD-23%
Chief Corporate Officer14,500 SGD-15%
Chief Digital Officer12,700 SGD-25%
Chief Digital Strategy Officer12,900 SGD-24%
Chief Digital Transformation Officer12,000 SGD-29%
Chief Ethics Officer10,900 SGD-36%
Chief Executive Officer18,300 SGD+8%
Chief Financial Officer17,000 SGD-0%
Chief Investment Officer12,900 SGD-24%
Chief of Staff8,190 SGD-52%
Chief Operating Officer13,700 SGD-19%
Chief Privacy Officer11,000 SGD-35%
Chief Resilience Officer13,700 SGD-19%
Chief Risk Officer11,400 SGD-33%
Chief Strategy Officer15,100 SGD-11%
Chief Trust and Safety Officer11,500 SGD-32%
Client Account Manager11,300 SGD-34%
Client Accounts Officer9,500 SGD-44%
Client Services Manager12,100 SGD-29%
Commercial Director11,700 SGD-31%
Commercial Manager10,600 SGD-38%
Commercial Project Manager9,480 SGD-44%
Commodity Broker7,320 SGD-57%
COO13,100 SGD-23%
Corporate Affairs Executive10,200 SGD-40%
Corporate Compliance Director11,800 SGD-31%
Corporate Director12,300 SGD-28%
Corporate Officer8,430 SGD-50%
Corporate Partnerships Officer8,280 SGD-51%
Country Manager14,600 SGD-14%
Department Head10,900 SGD-36%
Department Manager10,800 SGD-37%
Department Supervisor9,310 SGD-45%
Deputy Director12,700 SGD-25%
Deputy Manager12,200 SGD-28%
Director13,300 SGD-22%
Director of Accreditation11,800 SGD-31%
Director of Catering Services10,600 SGD-38%
Director of Client Services11,100 SGD-35%
Director of Facilities Management9,680 SGD-43%
Director of Operations11,800 SGD-31%
Director of Process Simplification9,850 SGD-42%
Director of Product Management12,200 SGD-28%
Director of Project Management12,800 SGD-25%
Director of Revenue Management11,400 SGD-33%
Director of Training and Development11,300 SGD-34%
Distribution Manager12,000 SGD-29%
Division Manager10,500 SGD-38%
Duty Manager10,700 SGD-37%
Engagement Manager12,400 SGD-27%
Executive Director17,200 SGD+1%
Executive Manager15,200 SGD-11%
Franchise Manager15,700 SGD-8%
General Manager13,500 SGD-21%
Generational Consultant9,330 SGD-45%
Global Master Data Manager12,200 SGD-28%
Global Technical Lead8,030 SGD-53%
Head of Investment11,900 SGD-30%
Head of Middle Office11,400 SGD-33%
Head of Projects12,300 SGD-28%
Head of Strategy13,800 SGD-19%
Head of Supply Chain11,200 SGD-34%
Head of Sustainability10,200 SGD-40%
Housing Manager10,100 SGD-41%
HSE Manager9,660 SGD-43%
Innovation Manager9,750 SGD-43%
Key Account Manager9,640 SGD-43%
Knowledge Manager11,900 SGD-30%
Location Manager11,500 SGD-32%
Logistics Executive9,410 SGD-45%
Logistics Manager9,070 SGD-47%
Management Consultant9,150 SGD-46%
Management Executive13,500 SGD-21%
Manager12,200 SGD-28%
Managing Director13,800 SGD-19%
MIS Executive12,000 SGD-29%
Ocean Services Manager12,200 SGD-28%
Online Business Manager17,500 SGD+3%
Operational Manager12,700 SGD-25%
Operations Analyst10,500 SGD-38%
Operations Assistant8,660 SGD-49%
Operations Director13,700 SGD-19%
Operations Executive12,900 SGD-24%
Operations Manager13,600 SGD-20%
Operations Supervisor11,100 SGD-35%
Planning Director12,100 SGD-29%
PMO Manager11,400 SGD-33%
Policy Administration Executive10,300 SGD-39%
Private Sector Executive10,900 SGD-36%
Product Development Manager11,900 SGD-30%
Product Executive10,200 SGD-40%
Production Executive11,500 SGD-32%
Production Manager12,400 SGD-27%
Production Supervisor9,790 SGD-42%
Program Director12,400 SGD-27%
Program Manager12,700 SGD-25%
Programme Coordinator8,320 SGD-51%
Project Control Manager12,100 SGD-29%
Project Coordinator7,460 SGD-56%
Project Management Officer8,700 SGD-49%
Project Manager9,430 SGD-45%
Project Portfolio Manager9,790 SGD-42%
Quality Manager10,100 SGD-41%
R/D Director10,900 SGD-36%
Regional Director17,200 SGD+1%
Regional Manager12,900 SGD-24%
Relationship Manager12,300 SGD-28%
Retail District Manager8,460 SGD-50%
Revenue Manager9,530 SGD-44%
Risk and Capital Manager13,400 SGD-21%
Risk Officer8,910 SGD-48%
Safety Manager8,600 SGD-49%
Section Head9,420 SGD-45%
Service Manager9,480 SGD-44%
Shift Supervisor7,720 SGD-55%
Solutions Manager8,770 SGD-48%
Supervisor7,630 SGD-55%
Supply Chain Manager12,900 SGD-24%
Surveyor8,260 SGD-51%
Technical Director11,700 SGD-31%
Technical Manager11,100 SGD-35%
Territory Manager11,300 SGD-34%
Validation Manager10,300 SGD-39%
Vice President14,900 SGD-12%
Zone Manager12,800 SGD-25%

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Singapore is 5% on average across all career fields.

Private Sector
8,300 SGD
Public Sector+5%
8,700 SGD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Chief Financial Officer in Singapore?

A good and competitive compensation would range anywhere between 16,000 SGD and 18,300 SGD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Chief Financial Officer in Singapore ranges from 8,170 SGD to 13,000 SGD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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