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2018 Technology in Financial Services Salary Guide

Gurj Sandhu - 31/01/2018
2018 IT & Fintech (Perm) Salary Guide

2018 salaries for finance services technology professionals in infrastructure, development and testing, application support, information security and more.

Contents:

Infrastructure Salaries in Financial Services | Development and Testing Salaries in Financial Services | Application Support, Project Managers and Business Analyst Salaries in Financial Services | Information Security, GRC Technology and IT Audit Salaries in Financial Services

Commentary on Finance Services Technology (Perm) Roles in Singapore for 2018

Infrastructure Salaries in Financial Services

Skill Analyst/ Non-Officer Associate/ AVP/ Manager VP/ Sr. Manager SVP/ Director Sr. Director/ MD
End-User Computing (Desktop/ Messaging/ Collaboration) $50k - $80k $80k - $140k $140k - $220k $220k - $300k $300k+
Network (Data/ Voice/ Firewall) $60k - $90k $90k - $160k $160k - $230k $220k - $330k $330k+
Storage $50k - $80k $80k - $140k $140k - $220k $220k - $300k $300k+
Database $50k - $80k $80k - $140k $140k - $220k $220k - $300k $300k+
Middleware $60k - $90k $90k - $120k $120k - $180k $220k - $300k $300k+
Servers (Unix/ Linux/ Wintel) $60k - $90k $90k - $120k $120k - $180k $220k - $300k $300k+
Data Centre/ Facility $50k - $80k $80k - $120k $120k - $180k $180k - $250k $250k+
Cloud Engineer $60k - $90k $90k - $130k $130k - $200k $200k - $250k $250k+
Infrastructure Project Management $60k - $90k $90k - $120k $120k - $180k $180k - $300k $300k+
Technical Infrastructure Architecture - $90k - $150k $150k - $220k $220k - $350k -
Head of Infrastructure - - $120k - $200k $200k - $300k $330k+
IT Audit $60k - $90k $90k - $140k $140k - $220k $220k - $300k $300k+
ITIL Process Owner (Incident/ Problem/ Change/ etc) $60k - $100k $100k - $130k $130k - $220k $200k - $330k $300k+

Development and Testing Salaries in Financial Services

Role Analyst/ Non-Officer Associate/ AVP/ Manager VP/ Sr. Manager SVP/ Director Sr. Director/ MD
C++ Developer $60k - $90k $90k - $140k $150k - $200k $200 - $250k -
Java Developer (Server side & Front End) $60k - $90k $90k - $140k $150k - $200k $200 - $250k -
C#/ .net Developer (Server side & Front End) $60k - $90k $90k - $140k $150k - $200k $200 - $250k -
Full Stack Engineer/Developer $60k -$90k $90 - $140k $150k - $200k $200 - $250k -
Technical Lead $60k - $90k $90k - $140k $150k - $180k - -
Automation Engineer $70k - $100k $100k - $145k $150k - $180k - -
QA Tester $70k - $100k $100k - $145k $150k - $180k - -
Performance Tester $70k - $100k $100k - $145k $150k - $180k - -
UAT Tester $70k - $100k $100k - $145k $150k - $180k - -
Test manager/ Lead/ Head of Testing - $90k - $140k $150k - $200k $220k - $260k $300k+
Architecture - - $150k - $200k $200k - $280k $280k+
Development Lead/Manager - $120 - $150k $150k - $200k $200k - $280k $300k+
Head of Development - - $150k - $250k $250k - $350k $350k - $450k

Application Support, Project Managers and Business Analyst Salaries in Financial Services

Role Analyst/ Non-Officer Associate/ AVP/ Manager VP/ Sr. Manager SVP/ Director Sr. Director/ MD
Business Analyst $60k - $90k $90k - $144k $144k - $200k $200k - $250k $250k+
Project Manager $60k - $100k $100k - $160k $160k - $220k $220k - $290k $280k+
Program Manager - - $150k - $250k $250k - $350k $350k - $500k
Level 1/ 2 Technical Support $60k - $90k $90k - $130k $130 - $160k - -
Level 3 Technical Support $70k - $100k $100k - $130k $130k - $180k $180k+ -
Application Support (BO/ MO) $60k - $90k $90k - $110k $110k - $160k $160k+ -
Trader Support (FO) (Application) $75k - $100k $100k - $150k $150k - $200k $200k - $280k -
Application Support Vendor Management - - - $200k - $300k $300k - $450k
Head of Application Support (FO) - - $150k - $250k $250k - $350k $350k - $500k

Information Security, GRC Technology and IT Audit Salaries in Financial Services

Role Analyst/ Non-Officer Associate/ AVP/ Manager VP/ Sr. Manager SVP/ Director Sr. Director/ MD
Cyber Security $60k - $70k $70k - $140k $140k - $200k $200k - $250k $250k+
IT Security Operation $60k - $90k $90k - $120k $120k - $180k $180k - $220k $220k+
IT Security Engineer $60k - $90k $90k - $120k $120k - $220k $220k - $300k $300k+
Information Security $60k - $90k $90k - $120k $120k - $220k $220k - $300k $300k+
Technology Risk Management $60k - $90k $90k - $130k $130k - $210k $210k - $300k $280k+
Architecture - - $150k - $200k $200k - $300k $300k+
Network Security $50k - $90k $90k - $120k $120k - $160k $160k - $210k $210k+
Project/ Program Manager $50k - $90k $90k - $130k $130k - $180k $180k - $300k $300k+
Technology Governance and Compliance $60k - $90k $90k - $130k $130k - $210k $210k - $280k $280k+

Commentary on Finance Services Technology Roles in Singapore for 2018

The outlook for financial services IT recruitment in 2018 looks good. We’ve seen exponential demands within development, particularly in full stack and front-end engineering. This is in part due to the huge digital disruption taking part across all segments, not just in banking or financial services.

Many financial services employers across investment, private, wealth and asset management, wholesale and corporate, and insurance are driving huge digital initiatives. The government has been keen to push this agenda in Singapore too providing an array of benefits and grants to startups as well as larger established organisations. 

Our information security, cyber and governance recruitment teams have been well established over the past five and a half years. Demands in these areas have continued to grow particularly across the tech governance, audit and in the more technical operational type roles. 

Technology change continues to thrive in line with the digital change driven projects, particularly agile. Programs and projects driven by regulatory change and automation continue to keep the team busy in 2018. Interestingly, employer briefs have become far more niche with domain or specific technology experience becoming more prevalent, particularly in front office roles. 

We also expect the data science and analytics, robotics, automation and machine learning, cloud and DevOps in infrastructure and fintech to create increased hiring demand in 2018.

With demand for ‘traditional type’ technology roles flat and driven predominantly by replacement hiring, we’ve seen salary levels remain stagnant. In many of the expansive markets outlined above we’ve seen a steady increase in the salaries.

Managing Director
+65 6818 3155
gsandhu@morganmckinley.com.sg