If you want to join a (comparatively) stable investment bank in Singapore right now, Bank of America Merrill Lynch might well be on your radar. While firms such as Deutsche Bank, HSBC and Societe Generale have announced front-office Asian layoffs this year, BAML has generally held back. The bank has also reshuffled its senior leadership in Asia. In July, it appointed Peter Guenthardt, previously country executive for Singapore and Southeast Asia, as co-head of Asia Pacific investment banking, working alongside Alex To.
Although the US firm doesn’t feature highly in individual M&A, ECM or DCM league tables in Asia, it does place a fairly respectable eighth for overall APAC (international and ex-Japan) IB revenue for the first half of 2019, according to Dealogic. Meanwhile, 2018 Asian revenue before expenses at BAML increased 28% to $865m year-on-year, according to the bank’s annual report (its quarterly results don’t break out figures by geography).
But if you’re a candidate for a front-office job at Bank of America Merrill Lynch in Singapore, you won’t just be reviewing these numbers – you’ll also want a broad overview of how much you’re likely to be paid at BAML. To find out more about front-office IB salaries at BAML in Singapore, we looked through pay figures on Glassdoor across the three seniority levels that the website has sufficient data for: analyst, assistant vice president, and vice president.
How much will your salary be at Bank of America Merrill Lynch in Singapore?
Pay at BAML obviously varies from employee to employee, so the figures in the table below should be seen as approximate guidance. Moreover, we only reviewed high-range Singapore salaries and cash bonuses at BAML, because they reflect the earnings of front-office investment bankers.
Bank of America Merrill Lynch did not respond to a request to comment on its Singapore pay.
If you’re a junior investment banker (analyst) at Bank of America Merrill Lynch in Singapore, expect to receive an annual base salary in the region of S$120k, although your exact pay will depend on whether you are a first, second or third-year analyst.
Singapore-based assistant vice presidents (AVPs) working in front-office IBD jobs take home approximately S$155k a year, according to the self-reported Glassdoor figures, which don’t include bonuses.
The big salaries start to kick in at vice president (VP) level at Bank of America Merrill Lynch in Singapore. VP-level investment bankers are paid about S$300k in base salaries, the Glassdoor data suggests.
Investment banking salaries at Bank of America Merrill Lynch in Singapore
Image credit: justhavealook, Getty
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