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Business Analyst Average Salary in Singapore 2024

How much money does a person working as Business Analyst make in Singapore?


Average Monthly Salary
10,200 SGD
( 123,000 SGD yearly)

LOW
4,810
SGD
AVERAGE
10,200
SGD
HIGH
16,200
SGD
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Business Analyst in Singapore typically earns around 10,200 SGD. Salaries range from 4,810 SGD (lowest) to 16,200 SGD (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Business Analyst salaries in Singapore vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Business Analyst Pay Scale and Salaries in Singapore

Median and salary distribution Singapore Business Analyst monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
9,640 SGD or more
10% of people earn
8,470 to 9,640 SGD
20% of people earn
5,890 SGD or less
65% of people earn
5,890 to 8,470 SGD
Minimum Salary
4,810 SGD
Median
9,700 SGD
Maximum
16,200 SGD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Business Analyst in Singapore range from 4,810 SGD (starting salary) to 16,200 SGD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 9,700 SGD, half of the professionals who work as Business Analyst in Singapore earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Business Analyst in Singapore earn less than 7,860 SGD, while 75% earn more. Similarly, the chart shows that 75% earn less than 11,200 SGD while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Business Analyst in Singapore compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 5,890 SGD to 8,470 SGD. About 20% of salaries are below the 5,890 SGD mark, while 10% fall within the range of 8,470 SGD to 9,640 SGD. Only 5% of individuals have salaries exceeding 9,640 SGD.

Salary Comparison by Years of Experience / Business Analyst / Singapore

How do experience and age affect pay?

0 - 2 Years
5,550 SGD
2 - 5 Years+38%
7,650 SGD
5 - 10 Years+42%
10,900 SGD
10 - 15 Years+22%
13,300 SGD
15 - 20 Years+6%
14,000 SGD
20+ Years+9%
15,300 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Singapore Business Analyst
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Business Analyst and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 5,550 SGD.

While someone with an experience level between two and five years is expected to earn 7,650 SGD, 38% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 10,900 SGD, 42% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 13,300 SGD, 22% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 14,000 SGD, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 15,300 SGD, 9% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Business Analyst / Singapore

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Business Analyst.

High School
6,860 SGD
Certificate or Diploma+17%
7,990 SGD
Bachelor's Degree+46%
11,600 SGD
Master's Degree+31%
15,300 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Singapore Business Analyst
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Business Analyst in order to make a comparison.


Level 1: High School

Employees at this education level have an average salary of 6,860 SGD.


Level 2: Certificate or Diploma

At this level, the average salary becomes 7,990 SGD, 17% more than the previous level.


Level 3: Bachelor's Degree

At this level, the average salary becomes 11,600 SGD, 46% more than the previous level.


Level 4: Master's Degree

At this level, the average salary becomes 15,300 SGD, 31% more than the previous level.



Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Singapore costs anywhere from 42,400 SGD to 127,000 SGD and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Business Analyst / Singapore

Salary comparison by gender Singapore Business Analyst monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Business Analyst in Singapore, the average difference between the salary of male and female employees is 6%.

Male
10,500 SGD
Female-5%
9,960 SGD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Singapore for all Careers

Salary comparison by gender monthly Singapore
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Average Annual Salary Increment Percentage / Business Analyst / Singapore

How much are annual salary increments in Singapore for individuals working as Business Analyst? How often do employees get salary raises?

Individuals working as Business Analyst in Singapore are likely to observe a salary increase of approximately 14% every 14 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Singapore Business Analyst
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Singapore / All Professions

Annual Salary Increment Rate Singapore
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Singapore is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Business Analyst / Singapore

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Singapore Business Analyst
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15% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 85% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
85%
No Bonus
15%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Average Hourly Wage / Business Analyst / Singapore


59 SGD per hour

The average hourly wage (pay per hour) for individuals working as Business Analyst in Singapore is 59 SGD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Business Analyst in Singapore is 28 SGD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Business Planning-100%
Agile Coach9,660 SGD-6%
Assistant Business Development Manager10,800 SGD+6%
Assistant Merchandise Planner6,460 SGD-37%
Business Advisor10,400 SGD+2%
Business Analyst10,200 SGD-0%
Business Consultant9,930 SGD-3%
Business Continuity Associate6,210 SGD-39%
Business Developer6,100 SGD-40%
Business Development Analyst7,540 SGD-26%
Business Development Associate5,200 SGD-49%
Business Development Coordinator5,500 SGD-46%
Business Development Director14,600 SGD+43%
Business Development Engineer8,110 SGD-21%
Business Development Executive10,600 SGD+4%
Business Development Manager12,000 SGD+17%
Business Development Specialist9,770 SGD-5%
Business Manager11,700 SGD+14%
Business Operations Specialist9,550 SGD-7%
Business Process Writer5,770 SGD-44%
Business Systems Analyst10,400 SGD+2%
Capacity Planner7,070 SGD-31%
Capacity Planning Supervisor9,410 SGD-8%
Change Communications Analyst8,880 SGD-13%
Change Control Analyst9,040 SGD-12%
Change Impact Analyst9,090 SGD-11%
Chief Automation Officer11,700 SGD+14%
Chief Innovation Officer12,600 SGD+23%
Contracts Executive9,790 SGD-4%
Corporate Strategy Analyst9,840 SGD-4%
Cost Control Engineer6,540 SGD-36%
Cost Controller7,370 SGD-28%
Cost Estimator6,300 SGD-38%
Crisis Management Specialist10,600 SGD+4%
Data Executive4,970 SGD-51%
Data Manager7,420 SGD-28%
Data Processing Manager9,320 SGD-9%
Development Researcher7,740 SGD-24%
Digital Strategist10,000 SGD-2%
Digital Transformation Manager10,400 SGD+2%
Director of Business Development14,600 SGD+43%
Director of Production Planning12,500 SGD+22%
Drop Shipping Consultant8,240 SGD-19%
Due Diligence Analyst10,300 SGD+1%
Estimating Manager10,800 SGD+6%
General Manager12,400 SGD+21%
Growth Hacker7,430 SGD-27%
Impact Assessment Specialist9,020 SGD-12%
Impact Investing Analyst8,980 SGD-12%
Incident Handler7,000 SGD-32%
Incident Specialist8,570 SGD-16%
Lean Consultant7,440 SGD-27%
Manager13,400 SGD+31%
Marketing and Business Development Manager11,700 SGD+14%
Materials Planner4,340 SGD-58%
Merchandise Assistant4,170 SGD-59%
Merchandise Controller4,150 SGD-59%
Merchandise Planner4,320 SGD-58%
Online Consultant8,440 SGD-18%
Online Reputation Manager7,580 SGD-26%
Operations Analyst9,100 SGD-11%
Operations Manager9,860 SGD-4%
Operations Research Analyst6,000 SGD-41%
Planning and Reporting Manager10,300 SGD+1%
Planning Director12,800 SGD+25%
Product Designer6,880 SGD-33%
Product Manager7,990 SGD-22%
Project Administrator6,590 SGD-36%
Project Manager10,100 SGD-1%
Project Planner6,160 SGD-40%
Research Assistant5,310 SGD-48%
Research Engineer6,060 SGD-41%
Research Officer5,000 SGD-51%
Risk Management Specialist9,660 SGD-6%
Scholarship Coordinator4,720 SGD-54%
Store Planner5,030 SGD-51%
Strategy Director13,200 SGD+29%
Top Research and Development Executive14,100 SGD+38%

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Singapore is 5% on average across all career fields.

Private Sector
8,300 SGD
Public Sector+5%
8,700 SGD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Business Analyst in Singapore?

A good and competitive compensation would range anywhere between 9,700 SGD and 11,200 SGD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Business Analyst in Singapore ranges from 4,810 SGD to 7,860 SGD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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