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2018 Front Office Banking Salary Guide

Written by Jay Abeyasinghe
Jan 31, 2018
Submitted by Jay Abeyasinghe on Wed, 01/31/2018 - 08:00

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

Contents:

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

Front Office - Investment Banking, M&A, Equity Capital Markets Salaries
  Analyst Associate VP Director MD
Lower Band $120k $200k $300k $400k $500k
Upper Band $180k $275k $375k $450k $750k
Retail Banking Salaries
Role Associate/AVP VP
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 -
Private Banking Relationship Managers Salaries
  Analyst Associate VP Director ED MD
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+
Corporate Banking/ Transaction Banking Salaries
Role Associate/AVP VP/SVP Director/ED
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
Commentary on Front office banking Roles and  Remuneration in Singapore for 2018

Investment banking

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. 

Private banking

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.