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Loan Quality Assurance Auditor Average Salary in Singapore 2024

How much money does a person working as Loan Quality Assurance Auditor make in Singapore?

Average Monthly Salary
8,750 SGD
( 105,000 SGD yearly)

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 Loan Quality Assurance Auditor in Singapore typically earns around 8,750 SGD. Salaries range from 4,110 SGD (lowest) to 13,800 SGD (highest).

Salary Variance

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

Loan Quality Assurance Auditor Pay Scale and Salaries in Singapore

Median and salary distribution Singapore Loan Quality Assurance Auditor monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
8,240 SGD or more
10% of people earn
7,240 to 8,240 SGD
20% of people earn
5,040 SGD or less
65% of people earn
5,040 to 7,240 SGD
Minimum Salary
4,110 SGD
8,300 SGD
13,800 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 Loan Quality Assurance Auditor in Singapore range from 4,110 SGD (starting salary) to 13,800 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 8,300 SGD, half of the professionals who work as Loan Quality Assurance Auditor 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 Loan Quality Assurance Auditor in Singapore earn less than 6,720 SGD, while 75% earn more. Similarly, the chart shows that 75% earn less than 9,540 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 Loan Quality Assurance Auditor in Singapore compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 5,040 SGD to 7,240 SGD. About 20% of salaries are below the 5,040 SGD mark, while 10% fall within the range of 7,240 SGD to 8,240 SGD. Only 5% of individuals have salaries exceeding 8,240 SGD.

Salary Comparison by Years of Experience / Loan Quality Assurance Auditor / Singapore

How do experience and age affect pay?

0 - 2 Years
4,750 SGD
2 - 5 Years+38%
6,540 SGD
5 - 10 Years+42%
9,310 SGD
10 - 15 Years+22%
11,400 SGD
15 - 20 Years+6%
12,000 SGD
20+ Years+9%
13,100 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Singapore Loan Quality Assurance Auditor
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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 Loan Quality Assurance Auditor 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 4,750 SGD.

While someone with an experience level between two and five years is expected to earn 6,540 SGD, 38% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 9,310 SGD, 42% 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 11,400 SGD, 22% 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 12,000 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 13,100 SGD, 9% 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 / Loan Quality Assurance Auditor / Singapore

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Loan Quality Assurance Auditor.

Bachelor's Degree
6,540 SGD
Master's Degree+83%
12,000 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Singapore Loan Quality Assurance Auditor
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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 Loan Quality Assurance Auditor in order to make a comparison.

Level 1: Bachelor's Degree

Employees at this education level have an average salary of 6,540 SGD.

Level 2: Master's Degree

At this level, the average salary becomes 12,000 SGD, 83% 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 / Loan Quality Assurance Auditor / Singapore

Salary comparison by gender Singapore Loan Quality Assurance Auditor 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 Loan Quality Assurance Auditor in Singapore, the average difference between the salary of male and female employees is 6%.

9,010 SGD
8,520 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 / Loan Quality Assurance Auditor / Singapore

How much are annual salary increments in Singapore for individuals working as Loan Quality Assurance Auditor? How often do employees get salary raises?

Individuals working as Loan Quality Assurance Auditor in Singapore are likely to observe a salary increase of approximately 13% every 14 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Singapore Loan Quality Assurance Auditor
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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 / Loan Quality Assurance Auditor / Singapore

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Singapore Loan Quality Assurance Auditor
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16% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 84% 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
No Bonus

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.

A graphics designer working for a graphics designing company.

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 / Loan Quality Assurance Auditor / Singapore

51 SGD per hour

The average hourly wage (pay per hour) for individuals working as Loan Quality Assurance Auditor 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 as Loan Quality Assurance Auditor in Singapore is 24 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

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Assistant Bank Manager13,700 SGD+56%
ATM Manager11,500 SGD+31%
ATM Service Technician3,160 SGD-64%
Bank Accounts Analyst4,870 SGD-44%
Bank Accounts Collector2,740 SGD-69%
Bank Accounts Controller5,970 SGD-32%
Bank Accounts Executive8,830 SGD+1%
Bank Accounts Manager10,200 SGD+17%
Bank Auditing Manager10,100 SGD+15%
Bank Branch Manager13,900 SGD+59%
Bank Branch Operations Coordinator6,310 SGD-28%
Bank Clerk2,860 SGD-67%
Bank Client Service Associate4,040 SGD-54%
Bank Collector2,820 SGD-68%
Bank Compliance Specialist7,800 SGD-11%
Bank Manager16,400 SGD+87%
Bank Operational Risk Manager16,800 SGD+92%
Bank Operations Head16,900 SGD+93%
Bank Operations Officer6,990 SGD-20%
Bank Operations Specialist10,200 SGD+17%
Bank Process Manager9,780 SGD+12%
Bank Product Manager 10,700 SGD+22%
Bank Programme Manager11,100 SGD+27%
Bank Project Manager12,900 SGD+47%
Bank Propositions Manager12,100 SGD+38%
Bank Quantitative Analyst8,800 SGD+1%
Bank Regional Manager16,700 SGD+91%
Bank Regional Risk Officer9,130 SGD+4%
Bank Relationship Manager12,200 SGD+39%
Bank Relationship Officer5,670 SGD-35%
Bank Sustainability Analyst9,790 SGD+12%
Bank Teller3,130 SGD-64%
Banker5,950 SGD-32%
Banking Business Analyst8,940 SGD+2%
Banking Business Development Officer5,780 SGD-34%
Banking Business Planning Executive12,700 SGD+45%
Banking Data Analyst10,000 SGD+14%
Banking Product Manager11,000 SGD+26%
Banking Reference Data Manager9,400 SGD+7%
Banking Regulatory Compliance Officer10,200 SGD+17%
Banking Risk Analyst8,910 SGD+2%
Banking Technical Analyst4,600 SGD-47%
Bankruptcy Coordinator6,040 SGD-31%
Bill and Account Collector3,220 SGD-63%
Blockchain Analyst7,670 SGD-12%
Blockchain Architect8,870 SGD+1%
Blockchain Auditor7,830 SGD-11%
Blockchain Compliance Analyst8,050 SGD-8%
Blockchain Consultant8,410 SGD-4%
Blockchain Trade Facilitator7,140 SGD-18%
Budget Analyst8,310 SGD-5%
Capital Risk Manager15,900 SGD+82%
Cards Marketing Manager11,500 SGD+31%
Cash Management Manager16,100 SGD+84%
Check Processing Manager11,900 SGD+36%
Chief Blockchain Officer9,400 SGD+7%
Commercial Vault Associate8,320 SGD-5%
Corporate Banker6,640 SGD-24%
Corporate Dealer9,120 SGD+4%
Credit Analyst7,030 SGD-20%
Credit and Collections Manager12,200 SGD+39%
Credit Card Fraud Investigator9,280 SGD+6%
Credit Portfolio Manager16,400 SGD+87%
Credit Risk Analyst9,440 SGD+8%
Credit Risk Associate9,660 SGD+10%
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Cryptocurrency Adviser10,500 SGD+20%
Cryptocurrency Analyst7,840 SGD-10%
Cryptocurrency Compliance Manager9,700 SGD+11%
Cryptocurrency Trader8,650 SGD-1%
Digital Banking Manager11,900 SGD+36%
Digital Currency Analyst8,530 SGD-3%
Direct Bank Sales Representative6,340 SGD-28%
Exchange Control Consultant8,960 SGD+2%
Executive Account Analyst8,810 SGD+1%
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Financial Banking Assistant4,220 SGD-52%
Financial Banking Systems Manager12,000 SGD+37%
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Fraud Analyst9,280 SGD+6%
Fraud Detection Associate6,310 SGD-28%
Fraud Detection Manager13,200 SGD+51%
Fraud Detection Supervisor7,580 SGD-13%
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Internal Bank Auditor8,310 SGD-5%
Internal Private Banker6,380 SGD-27%
International Banking Manager17,500 SGD+100%
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Loan Analyst8,870 SGD+1%
Loan Area Manager10,900 SGD+25%
Loan Audit Team Leader10,200 SGD+17%
Loan Branch Manager10,100 SGD+15%
Loan Business Development Officer5,420 SGD-38%
Loan Clerk3,160 SGD-64%
Loan Collection and Recovery Manager10,600 SGD+21%
Loan Collection Manager10,600 SGD+21%
Loan Collector2,880 SGD-67%
Loan Examiner3,820 SGD-56%
Loan Officer3,240 SGD-63%
Loan Processing Manager9,400 SGD+7%
Loan Processor3,910 SGD-55%
Loan Quality Assurance Auditor8,750 SGD-0%
Loan Quality Assurance Manager9,700 SGD+11%
Loan Quality Assurance Representative6,440 SGD-26%
Loan Review Manager9,680 SGD+11%
Loan Team Leader8,610 SGD-2%
Loans Manager12,200 SGD+39%
Mortgage Advisor5,900 SGD-33%
Mortgage Collection Manager9,900 SGD+13%
Mortgage Collector2,750 SGD-69%
Mortgage Credit Analyst4,450 SGD-49%
Mortgage Credit Manager10,300 SGD+18%
Mortgage Development Manager11,800 SGD+35%
Mortgage Document Reviewer3,990 SGD-54%
Mortgage Funding Manager11,800 SGD+35%
Mortgage Operations Manager15,500 SGD+77%
Mortgage Payment Processing Clerk3,400 SGD-61%
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Mortgage Processor4,070 SGD-54%
Mortgage Quality Assurance Auditor8,770 SGD+0%
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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 Loan Quality Assurance Auditor in Singapore?

A good and competitive compensation would range anywhere between 8,300 SGD and 9,540 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 Loan Quality Assurance Auditor in Singapore ranges from 4,110 SGD to 6,720 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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