Finploy Updates

Singapore Banking, Finance, Insurance and Fintech Salary Guide 2026

By Finploy Team January 2, 2026

Singapore’s financial sector remains one of the best-paying industries in the country, offering median salaries well above the national norm. This guide provides a comprehensive look at salary benchmarks for 2026 across banking, financial services, insurance, and fintech roles. It also addresses key challenges candidates face – from job consolidation due to AI to regulatory shifts – and outlines strategies to remain competitive.

The insights combine data from recruiter salary reports, government statistics, and industry surveys, serving as a data-rich roadmap for finance professionals charting their careers. (Source: Syfe, Ministry of Manpower)

Finploy’s Edge: This report is brought to you by Finploy.sg, Singapore’s only job portal 100% dedicated to banking, finance, insurance (BFSI) and fintech roles. Finploy’s platform lists exclusively finance jobs with verified MAS-regulated employers and offers segment-based filtering. An AI + recruiter-powered matching engine pairs candidates with roles that fit their skills.

2. Salary Benchmarks by Sector and Role

Overview: Salaries in Singapore’s BFSI sector vary by institution type, function, and seniority. Generally, MAS-licensed banks and top-tier investment firms pay the highest ranges, especially in front-office roles, while smaller financial institutions and fintech startups may offer slightly lower base salaries but often with equity or bonuses. All figures below are annual gross salaries in SGD (excluding bonus and CPF), unless stated.

2.1 MAS-Licensed Banks (Local & Foreign Banks)

Entry-level analysts or officers in major banks typically earn S$40k–$80k per year, mid-level managers around S$100k–$150k, and senior Vice Presidents/Directors between S$200k–$300k, with top executives (MDs) reaching S$400k+. For example, a regulatory compliance Analyst at a bank earns around S$62–87k (25th–75th percentile) while a Compliance Director/MD can earn S$311–415k.

Risk & Compliance: High demand has kept salaries buoyant. A Compliance Manager/AVP earns ~S$87–132k, and a VP/SVP in compliance or risk management earns median ~S$186k.
Technology & Digital: Banks are paying a premium for tech talent. A mid-level IT Project Manager in banking can draw S$120–150k.
Operations & Middle Office: A mid-career trade operations or settlements officer might earn S$90–$140k, while a Head of Operations (COO) at a bank can make S$200–300k.
Front Office (Retail/Private Banking): A Relationship Manager (RM) in premier banking makes about S$120k (5–10 years exp) up to S$180–250k for very experienced RMs.

2.2 Capital Markets & Securities Firms (CMS Licensees)

These include brokerage houses, securities dealers, and advisory firms. They tend to offer competitive pay, though often slightly below bulge-bracket investment banks.

Trading & Sales: An experienced derivatives sales VP might have a base of ~S$150k with potential bonuses doubling that in strong years.
Research & Advisory: Research analysts see ranges from S$70k at junior levels to S$150k+ for senior analysts. Corporate finance advisors significantly rewarded.
Operations: Roles like settlements and middle-office risk control pay roughly S$60–$100k for mid-level.

2.3 Asset & Fund Management Companies (FMCs)

Asset management firms offer some of the highest compensation, especially when bonuses/carried interest are included.

Private Equity/VC: Associates (3–6 years exp) have base salaries around S$170–200k, VPs around S$280–300k, and Managing Directors S$600–700k base.
Hedge Funds: Analysts about S$100–150k base early in their career. Portfolio Managers S$150–$250k base depending on AUM.

2.4 Private Banking & Wealth Management

Private banking offers lucrative pay, heavily performance-bonus-driven. A junior Assistant RM may earn S$60–80k, whereas a full-fledged Private Banker (VP) often has a base in the S$120–$180k range plus commissions.

2.5 Investment Banking & Corporate Finance Advisory

Known for long hours but top-of-market pay. Analysts earned roughly S$75k–$120k total packages. VPs (7–10 years) see bases around S$250k, and Directors often have base S$300–$430k.

2.6 Insurance Companies

Core insurance roles such as actuaries, underwriters, claims and business development are in demand.

Actuaries: Earn about S$120k–$130k on average annually; Fellows >S$180k.
Underwriters: Mid-level roughly S$70–90k; Senior managers S$120–150k.
Distribution: In-house Bancassurance Specialists earn base salaries ~S$90–130k for mid-level plus incentives.

2.7 Non-Bank Financial Institutions & Fintech

Fintech: Salaries vary widely. Early-stage st...

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