have an account?【sign in】Regulatory Compliance Analyst Salary Singapore:An Analysis of the Regulatory Compliance Analyst Salary in Singapore
jeevanauthorThe Regulatory Compliance Analyst (RCA) plays a crucial role in ensuring that companies adhere to various laws, regulations, and industry standards. In today's fast-paced business environment, the importance of regulatory compliance cannot be overstated, as non-compliance can result in severe penalties and reputational damage. As a result, the demand for RCAs has been on the rise, and their salary is a topic of much interest. This article aims to provide an analysis of the Regulatory Compliance Analyst Salary in Singapore, focusing on the key factors that influence the salary, including industry, experience, and education.
Factors Affecting Regulatory Compliance Analyst Salary in Singapore
1. Industry
The industry in which a RCA works has a significant impact on their salary. According to data from the JobStreet.com Salary Guide 2021, the finance and insurance sector offers the highest average RCA salary in Singapore, with an annual salary of S$10,000 - S$12,000. This is followed by the telecommunications and technology sector, with an average salary of S$8,000 - S$10,000 per year. The education, healthcare, and manufacturing sectors offer average RCA salaries of S$7,000 - S$9,000 per year.
2. Experience
Experience is another significant factor in determining the Regulatory Compliance Analyst Salary in Singapore. According to the JobStreet.com Salary Guide, the average RCA salary increases with experience, with entry-level RCAs earning an average of S$6,000 - S$8,000 per year, and experienced RCAs earning an average of S$8,000 - S$10,000 per year. This trend is consistent across all industries.
3. Education
The level of education required to become a RCA in Singapore is a Bachelor's degree in relevant fields such as business, law, or accounting. However, having a Master's degree or higher increases the chances of earning a higher salary. According to the JobStreet.com Salary Guide, Master's degree holders in RCAs can expect to earn an average salary of S$9,000 - S$11,000 per year, while PhD holders can expect to earn an average salary of S$11,000 - S$13,000 per year.
4. Company Size
The size of the company a RCA works for can also impact their salary. According to the JobStreet.com Salary Guide, RCA salaries tend to be higher at larger corporations, with average annual salaries ranging from S$8,000 - S$10,000 for small companies to S$12,000 - S$14,000 for large companies.
5. Location
While the overall average Regulatory Compliance Analyst Salary in Singapore is relatively high, the salary can vary depending on the location of the job. According to the JobStreet.com Salary Guide, the average annual salary for a RCA in Singapore is S$8,000 - S$10,000. However, in more affluent areas such as the Central Business District (CBD), the average salary can be slightly higher, reaching S$10,000 - S$12,000 per year.
The Regulatory Compliance Analyst Salary in Singapore is generally relatively high, with average annual salaries ranging from S$8,000 - S$12,000 per year. However, factors such as industry, experience, education, company size, and location can all influence the salary. As the importance of regulatory compliance continues to grow, the demand for RCAs is expected to remain high, which is likely to lead to steady salary increases for this professional role.