Chief Accountant Average Salary in Singapore 2024

How much money does a person working as Chief Accountant make in Singapore?

Average Monthly Salary

8,360 SGD

( 100,000 SGD yearly)

LOW
4,520
SGD AVERAGE
8,360
SGD HIGH
12,600
SGD

Chief Accountant Pay Scale and Salaries in Singapore

Salary Structure and Pay Scale Comparison

5% of people earn
7,450 SGD or more

10% of people earn
6,670 to 7,450 SGD

20% of people earn
4,960 SGD or less

65% of people earn
4,960 to 6,670 SGD

Minimum Salary 4,520 SGD

Median 7,470 SGD

Maximum 12,600 SGD

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

• Salary Range, Minimum Wage, and Starting Salary

  Salaries for the position Chief Accountant in Singapore range from 4,520 SGD (starting salary) to 12,600 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 7,470 SGD, half of the professionals who work as Chief Accountant 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 Chief Accountant in Singapore earn less than 6,260 SGD, while 75% earn more. Similarly, the chart shows that 75% earn less than 8,440 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 Chief Accountant in Singapore compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 4,960 SGD to 6,670 SGD. About 20% of salaries are below the 4,960 SGD mark, while 10% fall within the range of 6,670 SGD to 7,450 SGD. Only 5% of individuals have salaries exceeding 7,450 SGD.

Salary Comparison by Years of Experience / Chief Accountant / Singapore

How do experience and age affect pay?

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 Chief Accountant and this is what we found.

Employees with less than two years of experience earn approximately 5,250 SGD.

While someone with an experience level between two and five years is expected to earn 6,630 SGD, 26% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 8,730 SGD, 32% 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 10,300 SGD, 18% 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 11,400 SGD, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 12,100 SGD, 6% more than people with fifteen to twenty years of experience.

Typical Salary Progress for Most Careers

Salary Comparison By Education / Chief Accountant / Singapore

How do education levels affect salaries?

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

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 Chief Accountant in order to make a comparison.

Level 1: High School

Employees at this education level have an average salary of 6,380 SGD.

Level 2: Certificate or Diploma

At this level, the average salary becomes 7,190 SGD, 13% more than the previous level.

Level 3: Bachelor's Degree

At this level, the average salary becomes 9,460 SGD, 32% more than the previous level.

Level 4: Master's Degree

At this level, the average salary becomes 11,700 SGD, 24% more than the previous level.

Typical Salary Difference by Education for Most Careers

Salary and Compensation Comparison By Gender / Chief Accountant / Singapore

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 Chief Accountant in Singapore, the average difference between the salary of male and female employees is 5%.

Salary Comparison By Gender in Singapore for all Careers

Average Annual Salary Increment Percentage / Chief Accountant / Singapore

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

Individuals working as Chief Accountant in Singapore are likely to observe a salary increase of approximately 12% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Singapore / All Professions

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

Worldwide Salary Raises: All Countries and All Jobs

Bonus and Incentive Rates / Chief Accountant / Singapore

How much and how often are bonuses being awarded?

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48% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 52% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.

Received Bonus		52%
No Bonus		48%

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?

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.

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 / Chief Accountant / Singapore

48 SGD per hour

The average hourly wage (pay per hour) for individuals working as Chief Accountant in Singapore is 48 SGD.This is the rate they get paid for every worked hour.

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 Chief Accountant in Singapore is 26 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

Accounting and Finance		-100%
Account Examiner	4,300 SGD	-49%
Account Executive	7,080 SGD	-15%
Accountant	5,300 SGD	-37%
Accounting Analyst	7,120 SGD	-15%
Accounting Assistant	4,130 SGD	-51%
Accounting Associate	4,270 SGD	-49%
Accounting Clerk	3,430 SGD	-59%
Accounting Coordinator	5,160 SGD	-38%
Accounting Head	11,200 SGD	+34%
Accounting Manager	12,600 SGD	+51%
Accounting Officer	4,280 SGD	-49%
Accounting Specialist	7,800 SGD	-7%
Accounting Supervisor	8,110 SGD	-3%
Accounting Technician	3,830 SGD	-54%
Accounting Unit Controller	9,670 SGD	+16%
Accounts Executive	7,400 SGD	-12%
Accounts Officer	4,490 SGD	-46%
Accounts Payable and Receivable Specialist	5,600 SGD	-33%
Accounts Payable Assistant	4,520 SGD	-46%
Accounts Payable Associate	5,390 SGD	-36%
Accounts Payable Clerk	4,380 SGD	-48%
Accounts Payable Manager	11,600 SGD	+39%
Accounts Receivable Administrator	8,580 SGD	+3%
Accounts Receivable Clerk	4,350 SGD	-48%
Accounts Receivable Financial Analyst	8,230 SGD	-2%
Accounts Receivable Manager	11,300 SGD	+35%
Accounts Receivable Team Leader	8,580 SGD	+3%
Algorithmic Trading Specialist	9,680 SGD	+16%
Assistant Accountant	4,490 SGD	-46%
Assistant Accounting Manager	10,400 SGD	+24%
Assistant Auditor	5,750 SGD	-31%
Assistant Corporate Controller	7,490 SGD	-10%
Assistant Finance Manager	11,300 SGD	+35%
Assistant Financial Controller	7,520 SGD	-10%
Audit Director	13,200 SGD	+58%
Audit Supervisor	10,400 SGD	+24%
Auditing Clerk	4,490 SGD	-46%
Auditing Manager	11,700 SGD	+40%
Billing Clerk	4,470 SGD	-47%
Billing Coordinator	5,320 SGD	-36%
Billing Specialist	6,020 SGD	-28%
Billing Supervisor	8,500 SGD	+2%
Bookkeeper	3,640 SGD	-56%
Bookkeeping Specialist	5,230 SGD	-37%
Budget Analyst	9,480 SGD	+13%
Budget Manager	11,300 SGD	+35%
Business Support Analyst	6,490 SGD	-22%
Capital Markets Associate	8,550 SGD	+2%
Cash Flow Analyst	8,240 SGD	-1%
Cash Management Manager	10,800 SGD	+29%
Cash Management Officer	6,220 SGD	-26%
Cashbook Clerk	3,870 SGD	-54%
Chartered Accountant	6,880 SGD	-18%
Chief Accountant	8,360 SGD	-0%
Chief Financial Technology Officer	11,700 SGD	+40%
Collections Clerk	3,420 SGD	-59%
Collections Representative	4,840 SGD	-42%
Collections Specialist	5,970 SGD	-29%
Corporate Controller	9,100 SGD	+9%
Corporate Treasurer	11,200 SGD	+34%
Cost Accountant	5,650 SGD	-32%
Cost Accounting Manager	11,600 SGD	+39%
Cost Accounting Supervisor	9,410 SGD	+13%
Cost Analyst	9,250 SGD	+11%
Credit and Collection Manager	11,000 SGD	+32%
Credit and Collection Staff	4,470 SGD	-47%
Credit and Loans Officer	4,180 SGD	-50%
Credit Controller	7,800 SGD	-7%
Credit Manager	12,000 SGD	+43%
Debt Adviser	9,620 SGD	+15%
Debt Collector	4,670 SGD	-44%
Debtors Clerk	3,960 SGD	-53%
Debtors Controller	4,280 SGD	-49%
Deputy CFO	14,900 SGD	+78%
Deputy Head of Finance	14,800 SGD	+77%
Derivative Trader	10,100 SGD	+21%
Director of Finance	17,300 SGD	+110%
E-commerce Accountant	5,620 SGD	-33%
Economist	13,300 SGD	+59%
Equity Analyst	9,900 SGD	+18%
Escrow Assistant	5,120 SGD	-39%
Executive Accountant	6,640 SGD	-21%
External Auditor	7,850 SGD	-6%
Finance Administrator	6,780 SGD	-19%
Finance Analyst	10,100 SGD	+21%
Finance Associate	5,040 SGD	-40%
Finance Data Analyst	9,450 SGD	+13%
Finance Director	17,000 SGD	+100%
Finance Executive	11,900 SGD	+42%
Finance Licensing Clerk	4,010 SGD	-52%
Finance Licensing Manager	10,600 SGD	+27%
Finance Licensing Specialist	5,970 SGD	-29%
Finance Manager	16,100 SGD	+93%
Finance Officer	5,290 SGD	-37%
Finance President	16,000 SGD	+91%
Finance Relationship Manager	13,400 SGD	+60%
Finance Release Analyst	6,350 SGD	-24%
Finance Specialist	9,470 SGD	+13%
Finance Team Leader	12,900 SGD	+54%
Financial Accountant	5,750 SGD	-31%
Financial Actuary	8,600 SGD	+3%
Financial Administrator	9,060 SGD	+8%
Financial Advisor	10,300 SGD	+23%
Financial Analyst	10,200 SGD	+22%
Financial Applications Specialist	7,190 SGD	-14%
Financial Assistant	4,610 SGD	-45%
Financial Associate	5,420 SGD	-35%
Financial Claims Analyst	7,250 SGD	-13%
Financial Claims Manager	10,600 SGD	+27%
Financial Claims Supervisor	9,770 SGD	+17%
Financial Clerk	4,160 SGD	-50%
Financial Commercial Analyst	7,830 SGD	-6%
Financial Compliance Analyst	9,230 SGD	+10%
Financial Compliance Officer	9,220 SGD	+10%
Financial Consultant	7,220 SGD	-14%
Financial Controller	8,600 SGD	+3%
Financial Coordinator	5,430 SGD	-35%
Financial Customer Service Manager	10,500 SGD	+26%
Financial Data Scientist	10,800 SGD	+29%
Financial Dealer and Broker	6,140 SGD	-27%
Financial Director	16,200 SGD	+94%
Financial Encoder	4,890 SGD	-42%
Financial Manager	16,200 SGD	+94%
Financial Modelling Analyst	10,400 SGD	+24%
Financial Operations Manager	14,100 SGD	+69%
Financial Policy Analyst	8,370 SGD	+0%
Financial Project Manager	12,000 SGD	+43%
Financial Quantitative Analyst	9,330 SGD	+12%
Financial Reporting Consultant	8,480 SGD	+1%
Financial Reporting Manager	10,300 SGD	+23%
Financial Section Head	10,800 SGD	+29%
Financial Services Manager	14,700 SGD	+76%
Financial Services Sales Agent	5,940 SGD	-29%
Financial Technology Consultant	9,050 SGD	+8%
Financial Wellness Coach	11,800 SGD	+41%
FinTech Analyst	9,830 SGD	+18%
Fixed Assets Administrator	5,760 SGD	-31%
Forensic Accountant	6,780 SGD	-19%
Fraud Detection Supervisor	7,040 SGD	-16%
Fraud Prevention Manager	11,600 SGD	+39%
Fund Accountant	5,420 SGD	-35%
Grants Coordinator	4,400 SGD	-47%
Green Finance Analyst	8,650 SGD	+3%
Group Financial Manager	16,500 SGD	+97%
Internal Auditor	7,470 SGD	-11%
Internal Control Adviser	8,980 SGD	+7%
Internal Control Officer	4,960 SGD	-41%
International Tax Director	13,600 SGD	+63%
Inventory Accountant	5,760 SGD	-31%
Investment Advisor	15,100 SGD	+81%
Investment Analyst	11,100 SGD	+33%
Investment Associate	9,440 SGD	+13%
Investment Broker	9,400 SGD	+12%
Investment Fund Manager	12,500 SGD	+49%
Investment Operations Manager	12,400 SGD	+48%
Investment Underwriter	4,740 SGD	-43%
Investor	6,990 SGD	-16%
Investor Relations Manager	10,800 SGD	+29%
KYC Team Leader	10,400 SGD	+24%
Loan Processor	4,830 SGD	-42%
Management Accountant	6,050 SGD	-28%
Management Economist	12,600 SGD	+51%
Paymaster	4,380 SGD	-48%
Payroll Administrator	7,230 SGD	-14%
Payroll Benefits Coordinator	6,540 SGD	-22%
Payroll Billing Manager	10,800 SGD	+29%
Payroll Clerk	4,760 SGD	-43%
Payroll Manager	9,940 SGD	+19%
Payroll Officer	5,120 SGD	-39%
Payroll Specialist	6,090 SGD	-27%
Payroll Supervisor	6,910 SGD	-17%
Pensions Administrator	5,710 SGD	-32%
Personal Financial Advisor	8,600 SGD	+3%
Pricing Analyst	9,020 SGD	+8%
Private Equity Analyst	9,820 SGD	+17%
Project Accountant	5,730 SGD	-31%
Proposal Development Coordinator	4,800 SGD	-43%
Quantitative Trader	8,390 SGD	+0%
Receivables Accountant	5,130 SGD	-39%
Regulatory Accountant	6,180 SGD	-26%
Retirement Plan Analyst	9,100 SGD	+9%
Revenue Management Specialist	9,430 SGD	+13%
Revenue Recognition Analyst	10,600 SGD	+27%
Risk Management Director	14,200 SGD	+70%
Risk Management Supervisor	11,600 SGD	+39%
Staff Accountant	5,380 SGD	-36%
Tax Accountant	5,250 SGD	-37%
Tax Administrator	5,870 SGD	-30%
Tax Advisor	8,260 SGD	-1%
Tax Analyst	8,220 SGD	-2%
Tax Associate	4,700 SGD	-44%
Tax Consultant	9,430 SGD	+13%
Tax Director	13,700 SGD	+64%
Tax Examiner	5,810 SGD	-31%
Tax Manager	11,900 SGD	+42%
Tax Research Manager	11,900 SGD	+42%
Teller	3,450 SGD	-59%
Treasury Accountant	5,910 SGD	-29%
Treasury Analyst	9,660 SGD	+16%
Underwriter	4,090 SGD	-51%
Underwriting Assistant	3,820 SGD	-54%
Vice President of Finance	15,700 SGD	+88%

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.

Salary Statistics and Calculation Guide

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

A good and competitive compensation would range anywhere between 7,470 SGD and 8,440 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 Chief Accountant in Singapore ranges from 4,520 SGD to 6,260 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.