Banking Jobs in Sinagpore

Singapore is a dream job destination as it offers excellent quality of living, education, healthcare, personal safety, and housing. Its business-friendly economy has helped the country become a developed nation in a short period. Singapore's economy is diverse with manufacturing, oil-refining, and financial services being the top contributors. Financial and banking jobs are among the most sought-after jobs in the country. Here is everything you need to know about banking jobs in Singapore.

✅ What is the scope of banking jobs in Singapore?

The financial and banking sector is one of the top industries in Singapore. The Global Financial Centres Index of 2020 ranked Singapore as the sixth most competitive financial centre globally and the fourth in Asia. Many of the top banks in the world have an office in Singapore.

As Switzerland started imposing more taxes, and as the secrecy of the Swiss accounts reduced over time, Singapore has attracted many of their assets. And there is a constant demand for new employees who can support the growing business.

As technology is changing the way banks operate, there is also an increase in demand for employees well-versed in data analytics and automation. 

✅ What is the minimum educational qualification needed to get banking jobs in Singapore? 

As most banking jobs require you to handle finances, you have a better chance of landing a banking job if you have a bachelor's or master's degree in finance. However, you can also get selected for banking jobs in Singapore if you have a strong background in the technologies that are currently being used in the financial sector. Even then, you do need a bachelor's degree in some field.   

✅ What is the average salary for banking jobs in Singapore?

There is a plethora of roles in the financial and banking industry. The salary will differ depending on your role, experience, and the bank itself. The average salary is just an indicator.

The average salary for banking jobs in Singapore is SGD 75,734. The average salary for a business analyst in the finance or banking sector is SGD 61,749. For a bank officer, the average salary is SGD 32,079. The figure becomes SGD 54,354 for a credit analyst. A product manager in the banking sector can expect an average salary of SGD 102,159. All these figures are for annual income.   

✅ What are some of the top banks in Singapore?

DBS Bank, Bank of Singapore, OCBC Bank, Capital Dynamics, Maybank Singapore, CIC Singapore, Deutsche Bank, RHB Bank, JP Morgan Singapore, Citibank, HSBC, and Standard Chartered Bank are some of the top banks in Singapore where you can apply for banking jobs.  

✅ Are there remote or work from home jobs in the banking sector? 

There are many remote jobs or work from home jobs in the banking sector. Apart from those banking jobs where you need to interface with the clients, such as a bank teller job, all others can be performed remotely. You can easily find remote jobs in the banking sector in Singapore. 

✅ How can I get a job in the banking sector in Singapore?

There are a few different ways in which you can get banking jobs in Singapore. You can start by looking at online job portals for banking jobs in Singapore. You can also check with local recruitment agencies to know if they have any vacancies in the banking sector. 

✅ What are the skills needed to excel in banking jobs in Singapore?

Apart from your educational background, you will need to have strong analytical skills, problem-solving abilities, data collection abilities, data analytics skills, cybersecurity skills, attention to detail, strong communication skills, good work ethic, and a keen eye for economics and commerce. These skills will help you excel in all banking jobs in Singapore. 

✅ What is the career path for banking jobs in Singapore? 

Every person looking for a banking job aims to go big and reach the top of the bank. Only a few may make it to the top ultimately, but you may want to know how your career will look.

Most freshers start as an intern or an analyst. If you start as an intern, then the next role would be that of an analyst. You can then become an Associate Banker and then become the Vice President, Senior Vice President and finally the Managing Director.  

✅ What are the different jobs one can get in the banking sector in Singapore?

Some of the roles in the banking sector are that of an auditor, financial analyst, relationship manager, financial controller, consumer credit analyst, investment accounting analyst and mortgage consultant.

Singapore is one of the highly developed countries in the world that offers an excellent standard of living. The banking sector in Singapore is a thriving industry that offers lucrative jobs. With the right set of skills and educational background, you can land brilliant banking jobs in Singapore.