Accountant Salary Guide in Singapore: What You Need to Know

accountant salary singapore

Are you considering a career in accountancy? Perhaps you’re already an accounting professional aiming to understand the accountant salary singapore. Let’s delve into the world of accounting salaries, examining the differences between accountants, Certified Public Accountants (CPAs), and Chartered Accountants (CAs) while exploring the earning potential for these roles in Singapore.

Accountant vs. CPA vs. CA

Firstly, it’s essential to distinguish between the roles of an accountant, CPA, and CA. While “accountant” is a broad term encompassing those with an accountancy degree or those handling accounting tasks within a company, becoming a certified accountant entails meeting specific qualifications and passing relevant examinations.

In Singapore, the Chartered Accountant of Singapore (CA Singapore) designation is paramount. Previously, the title Certified Public Accountant (CPA) of Singapore was utilized until July 2013. The CA Singapore qualification, regulated by the Institute of Singapore Chartered Accountants (ISCA), holds international recognition through agreements with various accounting bodies worldwide.

accountant salary singapore

Qualifying as a CA Singapore

To attain the CA Singapore designation, candidates must complete a professional program, including a capstone module and technical modules. Additionally, they must accrue a minimum of 450 working days over four years under an Approved Mentor in an Accredited Training Organisation.

While other qualifications like the CPA and ACCA exist internationally, aspiring CAs in Singapore must adhere to specific requirements set by the SAC and ISCA.

Accountant Salary Overview in Singapore

Degree
Universities conducting the courses
% Employed
Median Gross Monthly Starting Salary 
Three-Year Degree Programme
Bachelor of Accountancy
NTU
98.3
$3,600
Four-Year Degree Programme
Bachelor of Accountancy
SMU
98.1
$3,825/
4,025 (Cum Laude and above)
Bachelor of Accountancy
SUSS
96.4
$3,600
Bachelor of Accountancy and Business
NTU
98.0
$4,942
Bachelor of Business Administration (Accountancy) (Honours)
NUS
99.3
$4,000

Accountant salary singapore varies significantly depending on factors such as experience, qualifications, and industry. According to data from the Ministry of Manpower (MOM), the median starting salary for fresh graduates in accountancy ranges from $3,600 to $4,025 monthly for local university graduates.

Occupation
Basic Wage
Gross Wage
 
25th Percentile ($)
Median ($)
75th Percentile ($)
25th Percentile ($)
Median ($)
75th Percentile ($)
Accountant (excluding tax accountant)
4,000
4,800
6,227
4,030
5,134
6,545
Auditor (accounting)
4,320
4,840
6,448
4,350
5,000
7,758

Examining MOM’s wage data, we observe that median basic wages for accountants and auditors differ. For instance, at the 25th percentile, junior positions may yield basic wages of approximately $4,000 to $4,320. However, as professionals progress in their careers, the wage gap widens, reflecting the increased qualifications and responsibilities, with auditors typically earning higher wages.

Benefits of Professional Qualifications

accountant salary singapore

While wage data offers insights into industry trends, individual performance and employer policies heavily influence actual remuneration. Nevertheless, the data highlights the importance of professional qualifications in enhancing earning potential. The distinction in wages between accountants and auditors underscores the value placed on advanced qualifications like the CA Singapore designation.

Conclusion

In conclusion, a career in accountancy offers diverse opportunities across various industries in Singapore. Whether you aspire to be an accountant, CPA, or CA, obtaining relevant qualifications and gaining experience are crucial steps toward a successful and rewarding career. By understanding the salary landscape and the significance of professional certifications, aspiring accountant salary singapore can make informed decisions to achieve their career goals.

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