Average Investment Banking Analyst Salary in Singapore for 2024

In this article, we will look at the average Investment Banking Analyst 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 an Investment Banking Analyst Make in Singapore?

An Investment Banking Analyst working in Singapore will typically earn around 154,700 SGD per year, and this can range from the lowest average salary of about 73,800 SGD to the highest average salary of 243,000 SGD.

Average Annual Salary
154,700 SGD
Average Monthly Salary
12,891 SGD

Lowest Annual Salary
73,800 SGD
Lowest Monthly Salary
6,150 SGD

Highest Annual Salary
243,000 SGD
Highest Monthly Salary
20,250 SGD

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

Investment Banking Analyst 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 Investment Banking Analyst Salaries in Singapore

So we've looked at the average salaries an Investment Banking Analyst will earn in Singapore. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Investment Banking Analyst can earn between 73,800 SGD and 243,000 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 an Investment Banking Analyst in Singapore is 159,500 SGD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 159,500 SGD, and 50% of the population earn more than 159,500 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 Investment Banking Analyst salary in Singapore, 25% of the population are earning less than 107,680 SGD while 75% of the population earn more than 107,680 SGD.

75% of the population earn less than 209,700 SGD, and 25% of the population earn more than 209,700 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.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Investment Banking Analyst 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 investment banking analyst 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. An Investment Banking Analyst in Singapore that has less than two years of experience can expect to earn somewhere in the region of 86,420 SGD.
  • 2 - 5 Years Experience. With two to five years of experience the average Investment Banking Analyst salary would increase to 125,100 SGD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Investment Banking Analyst, the average salary would be 161,300 SGD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 197,600 SGD.
  • 15 - 20 Years Experience. An Investment Banking Analyst with 15 to 20 years of experience can earn an average of 210,500 SGD.
  • 20+ Years Experience. For an Investment Banking Analyst with more than 20 years, the expected average salary increases to 232,400 SGD.

Average Salary by Experience Chart

0-2 Years
86,420 SGD
2-5 Years +42%
125,100 SGD
5-10 Years +31%
161,300 SGD
10-15 Years +23%
197,600 SGD
15-20 Years +6%
210,500 SGD
20+ Years +10%
232,400 SGD

Investment Banking Analyst 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 an Investment Banking Analyst in Singapore based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Investment Banking Analyst in Singapore with a bachelor's degree education can earn an average salary of 137,400 SGD.

  • Master's Degree. An Investment Banking Analyst in Singapore with a master's degree education can earn an average salary of 196,800 SGD.

Average Salary by Education Chart

Bachelor's Degree
137,400 SGD
Master's Degree +43%
196,800 SGD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Singapore is around 42,200 to 127,000 SGD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Investment Banking Analyst 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 investment banking analyst will earn an average of 159,400 SGD, while a female investment banking analyst will earn around 152,100 SGD.

This means that a male investment banking analyst earns approximately 5% more than a female investment banking analyst for performing the same job.

Average Salary by Gender Chart in Singapore

Male
159,400 SGD
Female -5%
152,100 SGD

Investment Banking Analyst 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 an Investment Banking Analyst in Singapore is around 13% every 15 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 = ( 13 ÷ 15 ) × 12  = 10%

What this means is that an Investment Banking Analyst in Singapore can expect to receive an average pay raise of around 10% 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.

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Investment Banking Analyst 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.

An Investment Banking Analyst is a high bonus based job, with 84% of employees reporting at least one bonus in the last 12 months.

16% 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 5% to 9%.

Received Bonus
84%
No Bonus
16%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

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.

Public Sector
103,440 SGD
Private Sector -5%
98,540 SGD

Salaries for Jobs Similar to an Investment Banking Analyst

In the table below, we have salary information for jobs that are similar to an Investment Banking Analyst in Singapore.

Job Title Category Salary
AML Analyst Banking 148,300 SGD
Assistant Bank Branch Manager Banking 119,900 SGD
Assistant Bank Manager Banking 163,800 SGD
ATM Manager Banking 139,100 SGD
ATM Service Technician Banking 36,020 SGD
Bank Accounts Analyst Banking 58,240 SGD
Bank Accounts Collector Banking 31,980 SGD
Bank Accounts Controller Banking 73,040 SGD
Bank Accounts Executive Banking 106,160 SGD
Bank Accounts Manager Banking 123,400 SGD
Bank Auditing Manager Banking 119,900 SGD
Bank Branch Manager Banking 168,100 SGD
Bank Branch Operations Coordinator Banking 73,820 SGD
Bank Clerk Banking 33,520 SGD
Bank Client Service Associate Banking 46,880 SGD
Bank Collector Banking 34,540 SGD
Bank Compliance Specialist Banking 94,800 SGD
Bank Manager Banking 195,200 SGD
Bank Operational Risk Manager Banking 201,100 SGD
Bank Operations Head Banking 204,700 SGD
Bank Operations Officer Banking 85,080 SGD
Bank Operations Specialist Banking 123,400 SGD
Bank Process Manager Banking 118,260 SGD
Bank Product Manager Banking 129,000 SGD
Bank Programme Manager Banking 134,600 SGD
Bank Project Manager Banking 154,700 SGD
Bank Propositions Manager Banking 146,200 SGD
Bank Quantitative Analyst Banking 105,300 SGD
Bank Regional Manager Banking 200,000 SGD
Bank Regional Risk Officer Banking 111,460 SGD
Bank Relationship Manager Banking 148,300 SGD
Bank Relationship Officer Banking 69,240 SGD
Bank Teller Banking 39,160 SGD
Banker Banking 70,700 SGD
Banking Business Analyst Banking 107,380 SGD
Banking Business Development Officer Banking 70,260 SGD
Banking Business Planning Executive Banking 152,000 SGD
Banking Product Manager Banking 130,400 SGD
Banking Reference Data Manager Banking 112,000 SGD
Banking Risk Analyst Banking 107,820 SGD
Banking Technical Analyst Banking 56,100 SGD
Bankruptcy Coordinator Banking 72,380 SGD
Bill and Account Collector Banking 40,140 SGD
Budget Analyst Banking 98,120 SGD
Capital Risk Manager Banking 192,000 SGD
Cards Marketing Manager Banking 139,100 SGD
Cash Management Manager Banking 191,600 SGD
Check Processing Manager Banking 143,200 SGD
Commercial Vault Associate Banking 99,340 SGD
Corporate Banker Banking 80,580 SGD
Corporate Dealer Banking 111,240 SGD
Credit Analyst Banking 83,060 SGD
Credit and Collections Manager Banking 148,300 SGD
Credit Card Fraud Investigator Banking 112,460 SGD
Credit Portfolio Manager Banking 195,200 SGD
Credit Risk Analyst Banking 114,380 SGD
Credit Risk Associate Banking 117,520 SGD
Direct Bank Sales Representative Banking 77,380 SGD
Exchange Control Consultant Banking 107,320 SGD
Executive Account Analyst Banking 104,920 SGD
Financial Bank Planning Consultant Banking 138,200 SGD
Financial Banking Analysis Manager Banking 158,700 SGD
Financial Banking Assistant Banking 50,340 SGD
Financial Banking Systems Manager Banking 142,300 SGD
Foreign Exchange Manager Banking 152,300 SGD
Fraud Analyst Banking 112,460 SGD
Fraud Detection Associate Banking 73,820 SGD
Fraud Detection Manager Banking 159,100 SGD
Fraud Detection Supervisor Banking 90,660 SGD
Internal Bank Audit Manager Banking 189,300 SGD
Internal Bank Auditor Banking 98,120 SGD
Internal Private Banker Banking 78,160 SGD
International Banking Manager Banking 209,700 SGD
Loan Analyst Banking 105,440 SGD
Loan Area Manager Banking 128,900 SGD
Loan Audit Team Leader Banking 123,400 SGD
Loan Branch Manager Banking 119,900 SGD
Loan Business Development Officer Banking 65,940 SGD
Loan Clerk Banking 36,020 SGD
Loan Collection and Recovery Manager Banking 125,700 SGD
Loan Collection Manager Banking 125,700 SGD
Loan Collector Banking 34,960 SGD
Loan Examiner Banking 47,540 SGD
Loan Officer Banking 39,080 SGD
Loan Processing Manager Banking 112,000 SGD
Loan Processor Banking 48,820 SGD
Loan Quality Assurance Auditor Banking 105,800 SGD
Loan Quality Assurance Manager Banking 115,400 SGD
Loan Quality Assurance Representative Banking 76,280 SGD
Loan Review Manager Banking 115,260 SGD
Loan Team Leader Banking 103,820 SGD
Loans Manager Banking 148,300 SGD
Mortgage Advisor Banking 69,400 SGD
Mortgage Collection Manager Banking 118,200 SGD
Mortgage Collector Banking 32,900 SGD
Mortgage Credit Analyst Banking 51,900 SGD
Mortgage Credit Manager Banking 125,100 SGD
Mortgage Development Manager Banking 142,300 SGD
Mortgage Document Reviewer Banking 47,580 SGD
Mortgage Funding Manager Banking 142,300 SGD
Mortgage Operations Manager Banking 187,500 SGD
Mortgage Payment Processing Clerk Banking 41,900 SGD
Mortgage Processing Manager Banking 124,400 SGD
Mortgage Processor Banking 48,640 SGD
Mortgage Quality Assurance Auditor Banking 106,740 SGD
Mortgage Quality Assurance Manager Banking 119,700 SGD
Mortgage Servicing Clerk Banking 39,160 SGD
Mortgage Servicing Manager Banking 119,020 SGD
Mortgage Underwriter Banking 44,540 SGD
Online Banking Manager Banking 175,900 SGD
Payment Processing Clerk Banking 37,620 SGD
Personal Banker Banking 77,120 SGD
Personal Banking Advisor Banking 79,260 SGD
Phone Banker Banking 50,080 SGD
Private Banker Banking 71,400 SGD
Reconciliation and Investigation Specialist Banking 87,000 SGD
Tax Officer Banking 66,480 SGD
Teller Banking 37,380 SGD
Trade Officer Banking 43,080 SGD
Trade Product Manager Banking 124,400 SGD
Trader Banking 50,180 SGD
Treasury Operations Officer Banking 97,840 SGD

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