Singapore investment banking salaries now
Singapore’s bankers are doing better than they seem.
Well, when it comes to money, at least. A compensation report from recruitment consultancy Morgan McKinley analyzed salaries for investment bankers in M&A, DCM, and ECM (collectively known as the Investment Banking Division, or IBD).
The numbers track well with our salary & bonus report earlier this year, which found that salaries grew in similar increments in the broader region – although, due to the inclusion of other jurisdictions (most notably Hong Kong), the Singaporean numbers were obscured.
Morgan McKinley says salaries for investment bankers in Singapore start at SGD100k ($75k) for an analyst. This is far behind London’s investment banking salaries and banking salaries in New York. A New York banking VP can expect to earn up to $350k in salary, which is nearly twice as much as a Singaporean peer.
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Investment banking revenues in Singapore have been comparatively flatter than other regions this year. Figures from market intelligence provider Dealogic suggest that whilst APAC ex-Japan generated around 20% less investment banking revenue in 2023 than in 2022, Singapore and Southeast Asia in general were more resilient, falling just 4% and 6% respectively.
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