Salary Survey 2010

The Morgan McKinley Salary Survey 2010: Singapore provides a general guide to current compensation and hiring trends within the professional services recruitment industry, in particular, the financial services and commerce & industry sectors.

 

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In addition to our consultants’ wealth of knowledge in their specialist sectors, Morgan McKinley conducted a telephone survey of 134 senior level operational and HR managers working across financial services and commerce & industry to find out their thoughts on compensation trends for the coming year. The aggregated results of this research are included in this report. The findings suggest the hiring market is at a cross roads; for many senior managers, growth and optimism is on the cards going into 2010 and for the majority of professionals, basic salaries are likely to rise. However, this is also tempered with a strong desire by management to maintain and challenge costs. That said, it was always expected that any recovery would be more of a gradual improvement rather than a sudden increase.

 

We hope you find this informative and we welcome any feedback you may have. For more specific salary or hiring information, please contact us directly.

 

 

FINANCIAL SERVICES

Do you expect basic salary offers within your business to increase, decrease or stay the same over the next 12 months and by what % ?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Role	Analyst / Non Officer	Associate / AVP / Manager	VP / Senior Manager	SVP / Director	MD / Senior Director
Financial Accounting	38 - 55	55 - 110	110 - 160	160 - 210+	210 - 280+
Management Accounting	40 - 60	60 - 110	110 - 170	170 - 220+	220 - 300+
Systems / Project Accounting	42 - 65	65 - 120	120 - 175	175 - 220	220 - 350+
Fund / Trust Accounting	35 - 55	55 - 110	110 - 160	160 - 200	200 - 280+
Product Control	45 - 70	70 - 140	140 - 220	220 - 280+	280 - 350+
Internal Audit	40 - 60	60 - 120	120 - 180	180 - 250+	250 - 330+
Tax Advisory / Compliance	40 - 60	60 - 120	120 - 180	180 - 250	250 - 340+
Business Analyst	40 - 60	60 - 110	110 - 180	180 - 220	220 - 320
Treasury	40 - 60	60 - 100	100 - 160	160 - 220	220 - 320
Technical Accounting	45 - 70	70 - 130	130 - 200	200 - 250	250 - 350+

 

 

ASSET MANAGEMENT

Role	Analyst / Non Officer	Associate / AVP / Manager	VP / Senior Manager	SVP / Director	MD / Senior Director
Fund Manager	-	-	150 - 265	288 - 360	336+
Research Analyst	74 - 112	96 - 200	150 - 305	-	336+
Marketing Executive	70 - 87	80 - 150	127 - 305	178+	-
RFP Writer / Investment Writing	74 - 100	100 - 120	112 - 163	150+	-
Performance Analyst	74 - 90	88 - 113	139 - 216	200+	-
Sales and Business Development	74 - 100	88 - 140	127 - 305	240 - 320	340+
Relationship / Account Management	74 - 100	96 - 140	127 - 255	210 - 290	260+
Product Development / Management	74 - 100	100 - 163	127 - 228	240 - 288	288+
Execution Trader / Dealer	55 - 90	74 - 120	113 - 190	151+	288+
Project Business Analyst	70 - 96	100 - 151	139 - 202	190+	-
Fund Manager's Assistant	74 - 90	80 - 100	100 - 120	-	-

 

 

BANKING OPERATIONS

EQUITY, CREDIT, RATES, FX /MM

Role	Analyst / Non Officer	Associate / AVP / Manager	VP / Senior Manager	SVP / Director	MD / Senior Director
Trade Support	30 - 60	50 - 120	120 - 160	160 - 240	240+
Clients Services	30 - 65	50 - 110	110 - 160	160 - 230	230+
Settlements	30 - 60	50 - 100	100 - 160	160 - 230	230+
Documentation	40 - 70	60 - 100	100 - 160	160 - 230	230+
Business Analysts/ projects	50 - 80	60 - 120	110 - 200	200 - 250	250+
DERIVATIVES
Trade Support	40 - 65	65 - 120	120 - 180	180 - 250	250+
Clients Services	35 - 70	60 - 115	115 - 180	180 - 250	250+
Settlements	30 - 60	60 - 100	100 - 180	180 - 250	250+
Documentation	40 - 70	60 - 100	100 - 160	160 - 230	230+
Business Analysts/ projects	50 - 80	60 - 120	110 - 200	200 - 250	250+
OTHER
Loans Administrator	30 - 50	45 - 80	80 - 120	120 - 190	190+
Static Data Analyst	30 - 60	50 - 90	90 - 150	150 - 230	230+
Control / Reconciliations	30 - 60	50 - 80	80 - 140	140 - 230	230+
Asset Servicing (Corporate Actions and Dividents)	30 - 60	50 - 95	95 - 160	160 - 230	230+
Business Analysts/ projects	50 - 80	60 - 120	110 - 200	200 - 250	250+

 

 

HUMAN RESOURCES

HR GENERALIST

Role	Permanent
Head of HR / HR Director	150 - 300
Strategic Business Partner	110 - 150
Business Partner	70 - 100
HR Manager	80 - 130
HR Advisor / Officer	60 - 90
HR Analyst / MI	40 - 60
HR Assistant	35 - 50
HR Administrator	35 - 50
COMPENSATION AND BENEFITS
Compensation and Benefits Director	130 - 200
Compensation and Benefits Manager	80 - 120
Compensation and Benefits Analyst	50 - 80
Compensation and Benefits Administrator	35 - 50
TRAINING AND DEVELOPMENT
Training and development Director	130 - 200
Training and development Manager	80 - 120
Training and development Officer / Analyst	50 - 80
Training Coordinator	35 - 50
RECRUITMENT
Recruitment Director	130 - 200
Recruitment Manager	72 - 130
Recruitment Officer	50 - 72
Recruitment Coordinator / Administrator	35 - 50
OTHER
Employee / Industrial relations Specialist	60 - 90

 

 

INFORMATION TECHNOLOGY

Role	Analyst / Non Officer	Associate / AVP / Manager	VP / Senior Manager	SVP / Director	MD / Senior Director
Programmer / Software Engineer / Developer	60 - 84	84 - 120	120 - 180	180 - 280	260+
Business Analyst	60 - 90	90 - 120	120 - 180	180 - 300	270+
Level 1/2 Technical Support	36 - 80	80 - 110	110 - 160	160 - 250	240+
Level 3 Technical Support	60 - 90	90 - 120	120 - 180	180 - 270	265+
Application Support (BO/MO)	72 - 96	96 - 140	140 - 180	180 - 290	280+
Trader Support (FO)	75 - 110	110 - 150	150 - 220	220 - 325	300+
IT Security and Audit	48 - 75	75 - 120	120 - 160	160 - 250	250+
QA and Testing	48 - 72	72 - 120	120 - 150	150 - 220	-
Database Administrators / Datawarehousing Consultant	48 - 90	90 - 140	140 - 200	200 - 300	260+
Service Delivery / Program Manager	-	100 - 130	130 - 200	200 - 290	280+

 

 

FINANCIAL SERVICES - INVESTMENT BANKING AND CAPITAL MARKETS (IBCM)

Role	Permanent
Analyst 1	70 - 132
Analyst 2	84 - 145
Analyst 3	120 - 190
Associate 1	130 - 215
Associate 2	156 - 240
Associate 3	180 - 290
VP 1	180 - 335
VP 2	240 - 385
VP 3	288 - 430
Director	288 - 530
Senior Director / MD	480 - 670

 

 

LEGAL AND COMPLIANCE

Role	Analyst / Non Officer	Associate / AVP / Manager	VP / Senior Manager	SVP / Director	MD / Senior Director
Derivatives Lawyer	50 - 90	90 - 160	140 - 230	200 - 300	280+
Product Specialist	40 - 60	60 - 110	110 - 170	170 - 220+	220 - 300+
Documentation Lawyer	50 - 80	80 - 140	120 - 180	170 - 280	250+
Legal Council	45 - 70	70 - 140	140 - 220	220 - 280+	280 - 350+
Corporate Secretary	40 - 60	55 - 70	70 - 120	100 - 200	180+
Compliance Advisory	60 - 90	80 - 170	150 - 210	180 - 300+	280+
AML	35 - 60	60 - 140	120 - 180	170 - 280+	250+
Control Room / Research	40 - 65	65 - 160	130 - 200	180 - 300	300+
Monitoring Surveillance	30 - 60	60 - 125	120 - 160	140 - 200+	200+
KYC	40 - 60	55 - 70	70 - 120	100 - 200	180+
Investigations	-	60 - 120	120 - 180	180 - 250	240+

 

 

PRIVATE BANKING AND WEALTH MANAGEMENT

PRIVATE BANKING

Role	AVP	VP	SVP	Director
Wealth Manager / Relationship Manager / Private Banker	84 - 120	120 - 180	220 - 270	250 - 350
Investment Advisors / Consultants	84 - 110	120 - 160	160 - 200	200 - 260
Marketing (Wealth Management	80 - 110	120 - 140	160 - 180	180 - 200
CONSUMER BANKING	Manager	AVP	VP
Wealth Manager / Relationship Manager / Private Banker	72 - 84	84 - 105	120 - 140
Investment Advisor / Consultant	65 - 72	75 - 90	110 - 140
Marketing (Wealth Management	60 - 72	84 - 90	100 - 120

 

 

RISK MANAGEMENT

Role	Analyst / Non Officer	Associate / AVP / Manager	VP / Senior Manager	SVP / Director	MD / Senior Director
Market Risk Management	70 - 96	96 - 120	120 - 192	240	360+
Market Risk Reporting	36 - 60	72 - 96	108 - 144	168	240+
Quantitive Analysis	84 - 108	108 - 132	144 - 216	240	360+
Operational Risk	48 - 72	70 -  96	108 - 168	192	290+
Credit Risk Analysis	60 - 84	84 - 120	120 - 216	240	310+
Traded Credit	70 - 96	108 - 132	144 - 240	264	360+

 

 

 

COMMERCE AND INDUSTRY

Do you expect basic salary offers within your business to increase, decrease or stay the same over the next 12 months and by what % ?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Role	Accountant	Senior    Accountant	Manager	Controller / Senior Manager	Director / CFO
Financial Accounting	43 - 60	55 - 95	90 - 140	130 - 200	180 - 250
Management Accounting	43 - 60	55 - 95	90 - 140	130 - 200	180 - 250
Systems / Project Accounting	48 - 65	60 - 100	90 - 150	130 - 200	180 - 250
FP and A	43 - 60	55 - 95	90 - 140	130 - 200	180 - 250
Financial Control	43 - 60	55 - 95	85 - 140	135 - 240	180 - 300
Internal Audit	40 - 55	50 - 85	75 - 130	120 - 190	180 - 225
Tax Advisory / Compliance	45 - 65	60 - 100	90 - 150	150 - 220	200 - 300
Business Analyst	48 - 65	55 - 95	80 - 130	125 - 180	-
Treasury	40 - 60	55 - 90	80 - 120	125 - 210	200 - 300
Corporate Development / Strategy	50 - 72	60 - 120	100 - 160	150 - 250	220 - 350

 

 

HUMAN RESOURCES

Role	Permanent
Head of HR / HR Director	150 - 300
Strategic Business Partner	110 - 150
Business Partner	70 - 100
HR Manager	80 - 130
HR Advisor / Officer	60 - 90
HR Analyst / MI	40 - 60
HR Assistant	35 - 50
HR Administrator	35 - 50
COMPENSATION AND BENEFITS
Compensation and Benefits Director	130 - 200
Compensation and Benefits Manager	80 - 120
Compensation and Benefits Analyst	50 - 80
Compensation and Benefits Administrator	35 - 50
TRAINING AND DEVELOPMENT
Training and development Director	130 - 200
Training and development Manager	80 - 120
Training and development Officer / Analyst	50 - 80
Training Coordinator	35 - 50
RECRUITMENT
Recruitment Director	130 - 200
Recruitment Manager	72 - 130
Recruitment Officer	50 - 72
Recruitment Coordinator / Administrator	35 - 50
OTHER
Employee / Industrial relations Specialist	60 - 90

 

 

INFORMATION TECHNOLOGY

Role	Executive / Non Officer	Manager	Senior Manager	Director	MD / Senior Director
Programmer	40 - 80	80 - 120	120 - 160	160 - 200	200+
Project Manager	72 - 100	100 - 150	150 - 200	200 - 280	280+
Business Analyst	72 - 100	100 - 150	150 - 200	200 - 280	280+
ERP	60 - 100	100 - 150	150 - 200	200 - 280	280+
QA and Testing	36 - 60	60 - 90	90 - 120	120 - 180	180+
Level 1 Systems Support	36 - 48	48 - 60	60 - 80	80 - 100	100+
Level 2 Systems Support	48 - 60	60 - 84	84 - 110	110 - 150	150+
Level 3 Systems Support	60 - 84	84 - 110	110 - 150	150 - 180	180+
IT Security and Audit	60 - 90	90 - 150	150 - 180	180 - 250	250+
Database Administration	42 - 90	90 - 120	120 - 150	150 - 200	200+
Sales	50 - 100	100 - 160	160 - 250	250 - 325	325+
Pre - Sales	50 - 100	100 - 150	150 - 200	200 - 250	250+
Marketing	60 - 90	90 - 120	120 - 160	160 - 220	220+
IT Head	120 - 180	180 - 250	250 - 325	325 - 400	400+

 

 

LEGAL AND COMPLIANCE

Role	Analyst / Non Officer	Associate / AVP / Manager	VP / Senior Manager	SVP / Director	MD / Senior Director
In - House Council	50 - 90	80 - 150	120 - 240	180 - 300+	250+
International Law Firm	40 - 60	60 - 110	110 - 170	170 - 220+	220 - 300+
Documentation Lawyer	50 - 100	90 - 170	150 - 250	240 - 350	350+
Local Law Firm	45 - 70	70 - 140	140 - 220	220 - 280+	280 - 350+
Corporate Secretary	45 - 90	75 - 140	120 - 200	200 - 300	300+
Compliance Advisory	60 - 90	80 - 170	150 - 210	180 - 300+	280+
AML	35 - 60	60 - 140	120 - 180	170 - 280+	250+
Control Room / Research	40 - 65	65 - 160	130 - 200	180 - 300	300+
Monitoring Surveillance	30 - 60	60 - 125	120 - 160	140 - 200+	200+
KYC	40 - 60	55 - 70	70 - 120	100 - 200	180+
Investigations	-	60 - 120	120 - 180	180 - 250	240+

 

*All salary amounts are in Singapore Dollars ($0,000s) per year