Singapore may face brain drain of accountants - Channel NewsAsia
Tuesday, November 09, 2010 |10:22 AM
Yesterday, I logged on to MSN and for those who uses MSN will know that there is this pop up and shows "Today news". I usually don't pay much attention to it but a title caught my attention yesterday -" Singapore may face brain drain of accountants". Whahahha..are you sure? As I read on the article, I even wondered -" Are you sure accountants are paid so well?" In the article, it mentions this:
"According to Robert Walters 2010 Global Salary Survey, the average basic salary of a senior tax accountant in Singapore with six years of experience is around S$110,000 a year."
Having been in the accounting industry for a good 8 years, let me give breakdown. For someone with 6 years experience, accordingly, if the person is in Big 4, he/she should be a M1 (Manager 1). An M1 Salary is about let's say $6,000 per month.
Monthly: $6,000
Per Annum: $72,000
Bonus: ~3 to 3.5 months (taking the maximum cap of 3.5)
Bonus: $21,000
Total salary per annum: $93,000
Difference: $17,000
See its about a $17,000 difference!! For accountants who are interested to read more of this article, please do do here: Singapore may face brain drain of accountants - Channel NewsAsia
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