How Much Does a Financial Accountant Earn in Singapore?

Financial Accountant Salary in Singapore.

The salary level for a Financial Accountant in Singapore depends largely on the size of the organisation. The salary range calculated in a survey by Hays for 2010 shows that in a SME the salary would range from SD$55K to SD$75K; in a mid-size company it would be SD$75K to SD$90K; whilst at an MNC it would be from SD$80K to SD$100K.

Hays notes that with improvement in the market most sectors are now more confident to hire. “In the FMCG, retail and other consumer based sectors we’ve seen renewed momentum and there are signs that construction and oil & gas are beginning to stir again.

The Big Four accounting firms are also hiring which is an encouraging sign for 2010. We’ve also seen an increase in Corporate Governance related roles across all sectors, in particular opportunities within Internal Audit, Risk & Compliance.

In financial services, the demand for regulatory reporting has risen in the wake of the economic crisis. Experienced Cost & Management Accountants who maximise cost efficiencies are also highly sought after."

"Project Accountants are also in demand which is a positive indicator that businesses are initiating projects which may not have been feasible six months prior. Salaries remained fairly static and there is still reluctance from employers to offer significant increases, with the norm being around 12 per cent.

Some employers have implemented policies that put a limit on the percentage increment they can offer new hires. Businesses are more careful when it comes to negotiating offers and candidates are generally more realistic in their expectations. However, there have been signs that this may change in line with 2010’s increasing market strength. Cost savings will remain a major factor for all businesses for the foreseeable future. Therefore the quality of the role, the organisation and the opportunities on offer should be at the top of the wish list for candidates rather than salary.”

From all of us at Singapore Business Review Magazine, good luck getting Financial Accountant job or in getting a raise to the right Financial Accountant salary.

If you are looking for a Financial Accountant career in Singapore, make sure you check out our Human Resources news with tips from Singapore's top recruitment companies at https://sbr.com.sg/hr-education.

So what other salary survey 2011 results are available?

Human Resources firm Michael Page has also produced a Singapore salary survey for 2011 and for the finance sector they note that: "Recruitment activity in the finance sector is increasing as market conditions continue to improve. Both local and multinational companies are investing heavily in growth, with more than half of the companies surveyed expecting an increase in staff numbers over the next 12 months.There is consistent demand for Financial Analysts with strong business partnering experience. Other niche skills in areas such as treasury and tax continue to be highly sought after as companies aim to better manage cash and foreign currency risk, as well as comply with local tax regulations from other regions within Asia."

"We are also seeing increasing demand for compliance professionals as businesses place more of an emphasis on corporate governance and risk management.

As the popularity of Singapore as a financial hub grows, companies are expanding their operations and establishing new offices and regional headquarters. This activity is expected to further increase the demand for finance professionals in 2011. Strong communication skills and excellent commercial awareness will be particularly sought after to help companies support this growth."

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