If you’re looking for a front-office banking job in Singapore, Standard Chartered is probably fairly high on your list of potential employers. Singapore is the bank’s Asian headquarters and is home to many of its regional and global heads.
Stan Chart made 27% of its global operating income from the region directly served by Singapore – ASEAN and South Asia – in the first quarter (Asia as a whole contributed 67%). And Stan Chart is always hiring in the hundreds in Singapore, no matter the time of year. It has more than 300 local vacancies on its careers website right now.
But while Stan Chart has plenty of open positions in Singapore, how much might it pay you if you land a front-office job in its Corporate and Institutional Banking (CIB) division? Every job offer will come with a different compensation package, but to find some average figures, we examined Standard Chartered salary and bonus data on Glassdoor. We did this across the five broad seniority levels that the website had sufficient data for.
We only looked at high-range Singapore salaries at Standard Chartered, because they reflect the earnings of front-office bankers within CIB (rather than, for example, people working in retail banking). The results (which are approximate rather than definitive) are displayed in the table below.
A spokesperson for Standard Chartered declined to comment on CIB compensation in Singapore.
How much are average salaries at Standard Chartered in Singapore?
Front-office analysts in CIB at Standard Chartered in Singapore earn annual base salaries of about S$100k on average, although that figure would vary according to whether they are first, second or third-year analysts. Their pay rises to approximately S$125k once they reach associate rank, according to Glassdoor.
Vice presidents and associate directors earn salaries about S$170k and S$190k, respectively. It’s at associate director level that Standard Chartered’s bonuses start to rise – they can potentially reach about S$160k, according to Glassdoor, although that would partly depend on personal performance.
If you reach director level at Standard Chartered in Singapore, you could potentially earn S$450k in total compensation, including a base salary of approximately S$300k.
Regardless of your salary at Standard Chartered in Singapore, now may be a good time to join the firm. Standard Chartered’s first quarter results have been hailed as proof that CEO Bill Winter’s turnaround strategy is starting to work. The bank has announced a new $1bn share buyback, a 10% rise in quarterly profit, and (crucially) a 2% fall in operating expenses.
Corporate and institutional banking salaries and bonuses at Standard Chartered in Singapore
Image credit: TkKurikawa, Getty
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