Singapore Accounting Salary Reveal How High Are Accountant Incomes in the International Financial Hub?

Accounting Salaries and Industry Insights in Singapore

In today’s global economic landscape, Singapore has become a top destination for international companies setting up regional headquarters, thanks to its efficient financial system, political stability, and high quality of life. As one of Southeast Asia’s most important international financial centers, Singapore not only attracts a large number of multinational corporations but also nurtures a thriving professional services sector-among which accounting stands out prominently.

Accounting is a foundational yet critical profession that continues to enjoy strong demand in Singapore’s job market. Whether in the Big Four firms-PricewaterhouseCoopers PwC, Deloitte, Ernst Young EY, or KPMG-or within finance departments of local SMEs and multinational corporations, accountants play an indispensable role.

So, how much can one actually earn as an accountant in this garden city? And what are the key factors influencing salary levels?

I. Overview of Salary Levels in the Accounting Industry

According to the 2025 Singapore Salary Report, entry-level accountants typically earn between SGD 3,500 and SGD 5,500 per month. This range includes recent graduates entering the workforce as well as those with some internship experience. For mid-level accountants with over three years of experience, salaries generally rise to SGD 6,000-9,000 monthly.

Senior accountants or professionals at managerial level command even higher compensation. Data from recruitment platforms like JobStreet and LinkedIn show that experienced accountants or financial controllers earn an average of SGD 10,000-15,000 per month. In large multinational enterprises or financial institutions, this figure can exceed SGD 20,000 monthly. Additional income sources such as year-end bonuses, performance incentives, and stock options further enhance earnings for senior professionals.

II. Key Factors Influencing Salary Levels

1. Educational Background and Professional Qualifications

Singapore places a high value on academic credentials and professional certifications. Holding an accounting degree from prestigious local universities such as the National University of Singapore NUS or Nanyang Technological University NTU, or from renowned overseas institutions, often results in a higher starting salary.

Professional qualifications such as ACCA Association of Chartered Certified Accountants, CPA Australia, or the Singapore Chartered Accountant CA SGP designation significantly boost career prospects and earning potential.

2. Industry and Company Size

Salaries vary greatly across industries. Accounting roles in sectors such as financial services, technology, and multinational corporations tend to offer higher pay compared to manufacturing or retail. Larger firms also tend to provide more competitive base salaries and better benefits packages-including health insurance, housing allowances, and education subsidies-compared to smaller businesses.

3. Work Experience and Career Progression

As in many professions, salary progression in accounting is closely tied to experience and promotion. From junior accountants to financial managers or chief financial officers CFOs, professionals typically experience multiple salary jumps along their career path. In particular, senior accountants with expertise in auditing, tax planning, or compliance management are highly sought after in foreign firms and listed companies.

III. Recent Trends and Industry Developments

In recent years, digital transformation has accelerated rapidly in Singapore, especially in the financial sector. According to a January 2025 article in The Straits Times, more companies are adopting artificial intelligence and automated systems to handle routine financial tasks such as invoice processing, bookkeeping, and financial analysis.

While this trend has reduced demand for certain entry-level positions, it has simultaneously created new opportunities for accountants with skills in technology integration. Future-ready accountants must now combine traditional financial knowledge with competencies in data analytics, ERP systems, and even basic programming.

Furthermore, in 2025, the Monetary Authority of Singapore MAS announced stricter requirements for ESG Environmental, Social, and Governance financial disclosures. This regulatory shift has increased corporate spending on financial management and expanded the need for accountants with ESG-related expertise.

IV. Conclusion

Working as an accountant in Singapore offers both stable income and significant room for career growth. Whether you're just starting out or aiming for leadership roles, continuous enhancement of technical and soft skills, along with adaptability to industry changes, will help you achieve your professional aspirations in this dynamic city-state.