Upper and lower salary bands for front office professionals in Singapore's investment banking, mergers and acquisitions (M&A), equity capital markets, retail banking, private banking and corporate banking
Front Office - Investment Banking, M&A, Equity Capital Markets salaries | Retail Banking salaries | Private Banking Relationship Managers Salaries | Corporate Banking/ Transaction Banking Salaries
Commentary on Front office banking Roles and Remuneration in Singapore for 2018
|Bancassurance/ Insurance Specialist||$36k - $60k||$50k - $100k|
|Priority Banking/Premier Banking RM||$36k - $60k||$50k - $90k|
|Employee Banking/Work Place Banking/Business Banking client acquisition||$36k - $57k||$50k - $90k|
|Channel Head||-||$60k - $96k|
|Mortgage Sales Manager||$36k - $60k||-|
|Lower Band||$50k - $60k||$80k - $100k||$140k - $160k||$200k - $230k||$280k - $320k||$420k+|
|Upper Band||$60k - $80k||$100k - $130k||$160k - $200k||$230k - $280k||$320k - $380k||$480k+|
|Trade Sales||$50k - $90k||$60k - $170k||$180k - $270k|
|Cash Management||$50k - $90k||$60k - $170k||$180k - $270k|
|Corporate Banking Relationship Manager||$50k - $90k||$100k - $180k||$190k - $240k|
|FIG Coverage Relationship Manager||$60k - $90k||$110k - $190k||$190k - $240k|
|Product Manager (Trade Finance/Supply Chain Finance)||$50k - $80k||$60k - $170k||$190k - $270k|
|Product Manager/Sales/RM (Custody & Clearing)||$50k - $80k||$60k - $170k||$190k - $270k|
Investment banking and corporate banking in Singapore have generally been oversupplied with candidates in the past two years. This has been particularly so at the senior end. However, this seems to be reversing with a number of banks actively commencing searches for director and MD-level jobs in the last quarter. Seemingly, after years of cuts, both international and regional banks are recognising the urgent need for experienced, senior origination bankers.
In private banking, demand for senior relationship managers at director level and MD level continues to be buoyant. We facilitated a number of senior hires combined with team moves in 2017 and seem set to continue in 2018, with several banks declaring intentions to expand headcount by double-digits.
In summary, with rising demand for senior hires across the board, we expect a degree of upward wage pressure to return to front office recruitment as banks start actively competing for top tier talent.