I am an associate at early stage small domestic fund and now looking to move to last stage fund as an associate.
What is a good salary an associate gets at a fund in Singapore? I am currently being offered at 150k SGD as an associate
Any data points and suggestions would be super helpful for negotiating
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Based on the most helpful WSO content, here's what you need to know about associate salaries in Singapore:
Given that you are being offered SGD 150K, this is significantly above the typical range for an associate position in Singapore. This suggests that your offer is quite competitive. Additionally, the low personal income tax (PIT) in Singapore means you can save a substantial portion of your income. For instance, on an all-in salary of SGD 160K, the income tax would be around SGD 13,750 (USD 10K), allowing for effective savings of about 50% after taxes and living expenses.
Suggestions for Negotiating:
Overall, your current offer of SGD 150K is quite strong for an associate role in Singapore.
Sources: Is this associate compensation competitive?, Q&A: 3rd year analyst at a boutique PE fund in the SEA region, What is it like to work at a sovereign wealth fund?, How to pick your next sell-side research job, PE Associate Compensation in T3 cities?
Huge range depending on fund size and if it's local or global. Someone like Warburg Pincus or KKR or CVC will pay you much more but also grind you to the bone, whereas a local/regional fund will pay much less. $150k sounds about right for base for a local/regional fund although some will pay higher (and some lower)
Thanks for the response
To add its a UK HQ global fund
Agree that 150k base for associate (3 years experience) sounds reasonable. It feels like what you might be paid at a mid tier fund. You could definitely get paid more at the top managers and GIC/Temasek, perhaps in the 200k+ range, but as the other commenter said they work harder and obviously bar to entry is much higher. From my experience UK/european funds also dont usually pay the best, nor do they work the hardest (exceptions apply of course). Local/small funds are probably another tier lower in pay
Sounds reasonable thought slightly below market. Singapore comps usually same as HK comps when it comes to pan regional GPs.
Is the cost of living higher in SG or HK
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