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Accounting and Finance Average Salaries in Singapore 2024

How much money does a person working in Accounting and Finance make in Singapore?


Average Monthly Salary
8,770 SGD
( 105,000 SGD yearly)

LOW
3,520
SGD
AVERAGE
8,770
SGD
HIGH
17,500
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 in Accounting and Finance in Singapore typically earns around 8,770 SGD. Salaries range from 3,520 SGD (lowest average) to 17,500 SGD (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in Singapore exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Accounting and Finance
Account Examiner4,300 SGD
Account Executive7,080 SGD
Accountant5,300 SGD
Accounting Analyst7,120 SGD
Accounting Assistant4,130 SGD
Accounting Associate4,270 SGD
Accounting Clerk3,430 SGD
Accounting Coordinator5,160 SGD
Accounting Head11,200 SGD
Accounting Manager12,600 SGD
Accounting Officer4,280 SGD
Accounting Specialist7,800 SGD
Accounting Supervisor8,110 SGD
Accounting Technician3,830 SGD
Accounting Unit Controller9,670 SGD
Accounts Executive7,400 SGD
Accounts Officer4,490 SGD
Accounts Payable and Receivable Specialist5,600 SGD
Accounts Payable Assistant4,520 SGD
Accounts Payable Associate5,390 SGD
Accounts Payable Clerk4,380 SGD
Accounts Payable Manager11,600 SGD
Accounts Receivable Administrator8,580 SGD
Accounts Receivable Clerk4,350 SGD
Accounts Receivable Financial Analyst8,230 SGD
Accounts Receivable Manager11,300 SGD
Accounts Receivable Team Leader8,580 SGD
Algorithmic Trading Specialist9,680 SGD
Assistant Accountant4,490 SGD
Assistant Accounting Manager10,400 SGD
Assistant Auditor5,750 SGD
Assistant Corporate Controller7,490 SGD
Assistant Finance Manager11,300 SGD
Assistant Financial Controller7,520 SGD
Audit Director13,200 SGD
Audit Supervisor10,400 SGD
Auditing Clerk4,490 SGD
Auditing Manager11,700 SGD
Billing Clerk4,470 SGD
Billing Coordinator5,320 SGD
Billing Specialist6,020 SGD
Billing Supervisor8,500 SGD
Bookkeeper3,640 SGD
Bookkeeping Specialist5,230 SGD
Budget Analyst9,480 SGD
Budget Manager11,300 SGD
Business Support Analyst6,490 SGD
Capital Markets Associate8,550 SGD
Cash Flow Analyst8,240 SGD
Cash Management Manager10,800 SGD
Cash Management Officer6,220 SGD
Cashbook Clerk3,870 SGD
Chartered Accountant6,880 SGD
Chief Accountant8,360 SGD
Chief Financial Technology Officer11,700 SGD
Collections Clerk3,420 SGD
Collections Representative4,840 SGD
Collections Specialist5,970 SGD
Corporate Controller9,100 SGD
Corporate Treasurer11,200 SGD
Cost Accountant5,650 SGD
Cost Accounting Manager11,600 SGD
Cost Accounting Supervisor9,410 SGD
Cost Analyst9,250 SGD
Credit and Collection Manager11,000 SGD
Credit and Collection Staff4,470 SGD
Credit and Loans Officer4,180 SGD
Credit Controller7,800 SGD
Credit Manager12,000 SGD
Debt Adviser9,620 SGD
Debt Collector4,670 SGD
Debtors Clerk3,960 SGD
Debtors Controller4,280 SGD
Deputy CFO14,900 SGD
Deputy Head of Finance14,800 SGD
Derivative Trader10,100 SGD
Director of Finance17,300 SGD
E-commerce Accountant5,620 SGD
Economist13,300 SGD
Equity Analyst9,900 SGD
Escrow Assistant5,120 SGD
Executive Accountant6,640 SGD
External Auditor7,850 SGD
Finance Administrator6,780 SGD
Finance Analyst10,100 SGD
Finance Associate5,040 SGD
Finance Data Analyst9,450 SGD
Finance Director17,000 SGD
Finance Executive11,900 SGD
Finance Licensing Clerk4,010 SGD
Finance Licensing Manager10,600 SGD
Finance Licensing Specialist5,970 SGD
Finance Manager16,100 SGD
Finance Officer5,290 SGD
Finance President16,000 SGD
Finance Relationship Manager13,400 SGD
Finance Release Analyst6,350 SGD
Finance Specialist9,470 SGD
Finance Team Leader 12,900 SGD
Financial Accountant5,750 SGD
Financial Actuary8,600 SGD
Financial Administrator9,060 SGD
Financial Advisor10,300 SGD
Financial Analyst10,200 SGD
Financial Applications Specialist7,190 SGD
Financial Assistant4,610 SGD
Financial Associate4,390 SGD
Financial Associate5,420 SGD
Financial Claims Analyst7,250 SGD
Financial Claims Manager10,600 SGD
Financial Claims Supervisor9,770 SGD
Financial Clerk4,160 SGD
Financial Commercial Analyst7,830 SGD
Financial Compliance Analyst9,230 SGD
Financial Compliance Officer9,220 SGD
Financial Consultant7,220 SGD
Financial Controller9,070 SGD
Financial Controller8,600 SGD
Financial Coordinator5,430 SGD
Financial Customer Service Manager10,500 SGD
Financial Data Scientist10,800 SGD
Financial Dealer and Broker6,140 SGD
Financial Director16,200 SGD
Financial Encoder4,890 SGD
Financial Manager16,200 SGD
Financial Manager15,100 SGD
Financial Modelling Analyst10,400 SGD
Financial Operations Manager14,100 SGD
Financial Policy Analyst8,370 SGD
Financial Project Manager12,000 SGD
Financial Quantitative Analyst9,330 SGD
Financial Reporting Consultant8,480 SGD
Financial Reporting Manager10,300 SGD
Financial Section Head10,800 SGD
Financial Services Manager14,700 SGD
Financial Services Sales Agent5,940 SGD
Financial Technology Consultant9,050 SGD
Financial Wellness Coach11,800 SGD
FinTech Analyst9,830 SGD
Fixed Assets Administrator5,760 SGD
Forensic Accountant6,780 SGD
Fraud Detection Supervisor7,040 SGD
Fraud Prevention Manager11,600 SGD
Fund Accountant5,420 SGD
Grants Coordinator4,400 SGD
Green Finance Analyst8,650 SGD
Group Financial Manager16,500 SGD
Internal Auditor7,470 SGD
Internal Control Adviser8,980 SGD
Internal Control Officer4,960 SGD
International Tax Director13,600 SGD
Inventory Accountant5,760 SGD
Investment Advisor15,100 SGD
Investment Analyst11,100 SGD
Investment Associate9,440 SGD
Investment Broker9,400 SGD
Investment Fund Manager12,500 SGD
Investment Operations Manager12,400 SGD
Investment Underwriter4,740 SGD
Investor6,990 SGD
Investor Relations Manager10,800 SGD
KYC Team Leader10,400 SGD
Loan Processor4,830 SGD
Management Accountant6,050 SGD
Management Economist12,600 SGD
Paymaster4,380 SGD
Payroll Administrator7,230 SGD
Payroll Benefits Coordinator6,540 SGD
Payroll Billing Manager10,800 SGD
Payroll Clerk4,760 SGD
Payroll Manager9,940 SGD
Payroll Officer5,120 SGD
Payroll Specialist6,090 SGD
Payroll Supervisor6,910 SGD
Pensions Administrator5,710 SGD
Personal Financial Advisor8,600 SGD
Pricing Analyst9,020 SGD
Private Equity Analyst9,820 SGD
Project Accountant5,730 SGD
Proposal Development Coordinator4,800 SGD
Quantitative Trader8,390 SGD
Receivables Accountant5,130 SGD
Regulatory Accountant6,180 SGD
Retirement Plan Analyst9,100 SGD
Revenue Management Specialist9,430 SGD
Revenue Recognition Analyst10,600 SGD
Risk Management Director14,200 SGD
Risk Management Supervisor11,600 SGD
Staff Accountant5,380 SGD
Tax Accountant5,250 SGD
Tax Administrator5,870 SGD
Tax Advisor8,260 SGD
Tax Analyst8,220 SGD
Tax Associate4,700 SGD
Tax Consultant9,430 SGD
Tax Director13,700 SGD
Tax Examiner5,810 SGD
Tax Manager11,900 SGD
Tax Research Manager11,900 SGD
Teller3,450 SGD
Treasury Accountant5,910 SGD
Treasury Analyst9,660 SGD
Underwriter4,090 SGD
Underwriting Assistant3,820 SGD
Vice President of Finance15,700 SGD


Accounting and Finance Jobs Pay Scale and Salaries in Singapore

Median and salary distribution Singapore Accounting and Finance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
8,740 SGD or more
10% of people earn
7,400 to 8,740 SGD
20% of people earn
4,450 SGD or less
65% of people earn
4,450 to 7,400 SGD
Minimum Salary
3,520 SGD
Median
7,660 SGD
Maximum
17,500 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 in Accounting and Finance in Singapore range from 3,520 SGD (starting average salary) to 17,500 SGD (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Accounting and Finance is 7,660 SGD, implying that half of the workforce in Singapore earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in Singapore earn less than 6,000 SGD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 9,250 SGD, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in Singapore. The analysis revealed that roughly 65% of all reported salaries fell within the range of 4,450 SGD to 7,400 SGD. Approximately 20% of salaries were below the 4,450 SGD mark, while 10% ranged from 7,400 SGD to 8,740 SGD. Only 5% of individuals earned a gross salary of 8,740 SGD or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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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.

Generally speaking, employees in Accounting and Finance in Singapore having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
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.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Accounting and Finance in Singapore, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


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.

Employees can't expect any salary increases during the study period, assuming they 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Accounting and Finance / Singapore

Salary comparison by gender Singapore Accounting and Finance 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? In the field of Accounting and Finance in Singapore, the average difference between the salary of male and female employees is 5%.

Male
8,970 SGD
Female-5%
8,550 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 / Accounting and Finance / Singapore

How much are annual salary increments in Singapore for individuals working in Accounting and Finance? How often do employees get salary raises?

Professionals working in Accounting and Finance in Singapore are likely to observe a salary increase of approximately 11% every 13 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Singapore Accounting and Finance
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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 / Accounting and Finance / Singapore

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Singapore Accounting and Finance
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25% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 75% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
75%
No Bonus
25%

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.

Hourly Average Wage / Accounting and Finance / Singapore


51 SGD per hour

The average hourly wage (pay per hour) in Accounting and Finance in Singapore is 51 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 in Accounting and Finance in Singapore is 20 SGD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

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 in Accounting and Finance in Singapore?

A good and competitive compensation would range anywhere between 7,660 SGD and 9,250 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 jobs in Accounting and Finance in Singapore ranges from 3,520 SGD to 6,000 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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