Here’s how much these 6 top finance jobs earn in Singapore
Wondering if a career in finance is worth it? Thanks to a great guide from our friends at Wiley, we’ve put together a list of top jobs in finance, what they entail, and how much each role pays for the Singapore market.
Thanks to Wall Street, it seems everyone know investment bankers rake in the moolah. But did you know that other jobs in finance also offer salaries that are pretty impressive?
Finance jobs don't just mean working in top banks - there are also analysts, advisors, consultants, and portfolio and risk managers. Each job involves different skills and has its own career paths - but arguably, all pay extremely well in the long-term.
Here’s our ranking of the jobs from lowest to highest average salary:
*For all the figures below, data was taken from the June 2017 Economic Research Institute’s yearly estimates and divided to get a monthly value.
#6: Portfolio Manager
Median Salary in Singapore: about S$6,000 per month
A portfolio manager helps a person manage their investments in order to meet a goal (such as growing investments and increasing the value of the fund pool) according to the level of risk and return requested by the client.
This person is often astute at choosing and valuing investments. They may also manage investments for institution - including retirement funds, endowments, and foundations.
#5: Financial Consultant/Advisor
Median Salary in Singapore: about S$6,330 per month
A financial consultant or advisor helps companies or individuals manage specific financial areas like tax, investments (including stocks and bonds) or insurance.
Some financial consultants offer personalised financial advice to clients, and may direct the buying and selling of on behalf of clients, while some may work for banks, hospitals, and consultancies.
#4: Credit Analyst
Median Salary in Singapore: about S$6,700 per month
Credit analysts assess how much credit a business or person deserves, or analyse whether certain investments are worth buying and selling.
They typically have a background in accounting, finance, statistics or economics, and work for commercial and investment banks.
#3: Financial Analyst
Median Salary in Singapore: about S$7,740 per month
As the name suggests, financial analysts analyse financial information - but the type of information differs depending on where they work. Generally, these people have a good understanding of how and why investments are made, and know about the different kinds of companies in different industries.
Analysts who work in companies may look at the company’s finances and investments before a project, while analysts who work in investment-related organisation will look at the finances of other companies to see if they are suitable to invest in.
#2: Risk Manager
Median Salary in Singapore: about S$8,000 per month
Risk managers monitor the financial risks of a company by identifying risk areas, such operational risks, credit risks, market risks, and foreign exchange risks. They then try to combat these risks by using financial instruments to avoid, reduce and transfer risks away from the company.
Protecting company interests is key in sectors like law, accountancy, insurance, loss control and finance, so these industries often employ risk managers.
#1: Investment Banker
Median Salary in Singapore: about S$8,500 per month
Ah, the famous investment banker. These bankers raise money for companies and governments for expansion via large financial transactions like mergers and acquisitions, sales of companies, or IPO listings. They often work in financial institutions or banks.
Next week, we'll look at the different finance certifications and how these help you land different jobs - stay tuned!