2018 Banking and Finance Contract Salary Guide
Salaries for banking and finance (contract) professionals in Singapore
|Role||Analyst/ Non-Officer||Associate/ AVP/ Manager||VP/ Senior Manager||SVP/ Director||Director/ Senior Director|
|Settlements||$50k - $65k||$65k - $120k||$120k - $150k||$150k - $220k||$220k+|
|Documentation||$50k - $65k||$65k - $120k||$120k - $150k||$150k - $220k||$220k+|
|Trade Support||$54k - $66k||$66k - $120k||$120k - $180k||$180k - $220k||$220k+|
|Client on-boarding/ kYC||$42k - $60k||$60k - $90k||$90k - $150k||$150k - $250k||$250k+|
|Collateral Management||$42k - $60k||$60k - $90k||$90k - $150k||$150k - $250k||$250k+|
|Loans Administration||$42k - $60k||$60k - $90k||$90k - $150k||$150k - $250k||$250k+|
|Corporate Action||$45k - $60k||$60k - $90k||$90k - $130k||$130k - $200k||$200k+|
The contract market for 2018 is set to be busier than ever across all sectors within Banking and Financial Services. With the focus being on cutting costs, many organisations are looking at various solutions to manage headcount whilst still operating at the highest possible efficiency. Candidates too are now more open to contract opportunities as there is no concrete difference in the type of work done by a permanent member of staff vs a contract employee; and the lack of bonuses and job security which kept candidates in jobs for lengthy periods are no longer guaranteed.
The hottest areas in the non-IT contracting market will be within Corporate Governance world with the highest demand coming from Compliance, Risk and Operations. These areas are now increasingly business critical with the upturn in regulatory requirements as well as the demand for technical know-how.
Salaries for the contracting world are moving upwards as the demand increases within a tight market. Over the years, we have seen a slight premium in contractor salaries and 2018 will prove to be much of the same.