Average Business Advisor Salary in Singapore for 2024

In this article, we will look at the average Business Advisor salary for 2024 in Singapore and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Singapore dollar. To keep things simple, we are using the SGD currency code instead of the currency symbol $.

How Much Does a Business Advisor Make in Singapore?

A Business Advisor working in Singapore will typically earn around 124,400 SGD per year, and this can range from the lowest average salary of about 69,240 SGD to the highest average salary of 189,300 SGD.

These are average salaries for a Business Advisor in Singapore and include benefits such as housing and transport. It's also possible for a Business Advisor to earn more or less than the average salaries shown above.

Business Advisor salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Business Advisor Salaries in Singapore

So we've looked at the average salaries a Business Advisor will earn in Singapore. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Business Advisor can earn between 69,240 SGD and 189,300 SGD on average in Singapore. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Business Advisor in Singapore is 113,740 SGD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 113,740 SGD, and 50% of the population earn more than 113,740 SGD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Business Advisor salary in Singapore, 25% of the population are earning less than 82,160 SGD while 75% of the population earn more than 82,160 SGD.

75% of the population earn less than 138,200 SGD, and 25% of the population earn more than 138,200 SGD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

Business Advisor Salary by Experience Level in Singapore

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average business advisor salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

• 0 - 2 Years Experience. A Business Advisor in Singapore that has less than two years of experience can expect to earn somewhere in the region of 77,340 SGD.
• 2 - 5 Years Experience. With two to five years of experience the average Business Advisor salary would increase to 97,880 SGD.
• 5 - 10 Years Experience. From five to ten years of experience as a Business Advisor, the average salary would be 128,900 SGD.
• 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 152,300 SGD.
• 15 - 20 Years Experience. A Business Advisor with 15 to 20 years of experience can earn an average of 169,000 SGD.
• 20+ Years Experience. For a Business Advisor with more than 20 years, the expected average salary increases to 180,500 SGD.

Average Salary by Experience Chart

Business Advisor Salary by Education Level in Singapore

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Business Advisor in Singapore based on the education level of the employees in order to find out whether a better education level would increase your salary.

• High School. A Business Advisor in Singapore with a high school education can earn an average salary of 96,980 SGD.

• Certificate or Diploma. A Business Advisor in Singapore with a certificate or diploma education can earn an average salary of 107,380 SGD.

• Bachelor's Degree. A Business Advisor in Singapore with a bachelor's degree education can earn an average salary of 142,300 SGD.

• Master's Degree. A Business Advisor in Singapore with a master's degree education can earn an average salary of 174,000 SGD.

Average Salary by Education Chart

Business Advisor Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Singapore, a male business advisor will earn an average of 125,700 SGD, while a female business advisor will earn around 119,900 SGD.

This means that a male business advisor earns approximately 5% more than a female business advisor for performing the same job.

Average Salary by Gender Chart in Singapore

Business Advisor Average Pay Raise in Singapore

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Business Advisor in Singapore is around 14% every 14 months.

The national average pay raise across all professions and industries in Singapore is around 9% every 15 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 14 ÷ 14 ) × 12  = 12%

What this means is that a Business Advisor in Singapore can expect to receive an average pay raise of around 12% every 12 months.

Annual Pay Raise by Industry in Singapore for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Singapore.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Business Advisor Bonus and Incentive Rates in Singapore

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Business Advisor is a high bonus based job, with 78% of employees reporting at least one bonus in the last 12 months.

22% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 6% to 7%.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Singapore earn approximately 5% more than private sector employees in the same role.

Salaries for Jobs Similar to a Business Advisor

In the table below, we have salary information for jobs that are similar to a Business Advisor in Singapore.

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