All You Need to Know About the Singapore Investment Banking Salaries 2021/2022

A few weeks ago, we discussed the questions that Singaporean investment banks have asked during interviews. Although #privatebanking and #wealthmanagement have become increasingly popular, given the limited IBD roles can have limited headcounts, #investmentbanking still pays the bigger bucks. 

Among the #bulgebracket banks that are bidders for the largest deals and manage the biggest deal flow, are Citi, DBS, Standard Chartered, and JPMorgan. Meanwhile, #goldmansachs , #Citi, and #jpmorgan not only dominate the hiring scene but also increased their headcounts in 2021 following the surge in deals that the region witnessed. 

 

Based on a Dealogic study, M&A activity sprung in SE Asia by a whopping 114% by mid-2021, riding on the technology industry deal flow. However, we strongly advise students to target boutique banks and firms so you can still get more hands-on exposure and elevate their chances of cracking an internship or a job offer. 

As an investment bank analyst (#ECM #DCM and M&A), you can expect an average annual salary around SGD 200k or even higher for some niche industry-focused roles. This is because when American banks in Singapore trimmed out their “expensive” senior-most bankers in the past couple of years, they strategically shifted focus to offer better salaries for junior and middle-rank positions. Therefore even the average annual salary of SGD 171k paid to associates has also jumped. Although analyst bonuses can range from 17%- 43% and 18%- 58% for associates, it can vary based on the bank’s performance and overall impact of market conditions.  

At the Vice President level, you can expect the average salary to be around SGD 265k with at least 20% bonus as per a 2019 report by a recruitment agency.

 

⏱️ ⏱️ Working Hours & Other Key Tips: Although the deal pressure isn’t as insane as the London or U.S. offices, IB hours can still be quite grueling (around 100 hours weekly). Singapore witnesses a lot of cross-border deals as compared to having mega deals like its Asian counterparts in Hong Kong. Also, you’ll get greater exposure and focus on sales-related activities like creating pitch books since that aspect is quite popular as compared to driving complex modeling and valuation.

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