A person working as a Project Manager in Singapore typically earns around 9,430 SGD per month. Salaries range from 4,710 SGD (lowest) to 14,600 SGD (highest).
This is the average monthly salary including housing, transport, and other benefits. Project Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Project Manager Salary Distribution in Singapore
The median, the maximum, the minimum, and the range
- Salary RangeProject Manager salaries in Singapore range from 4,710 SGD per month (minimum salary) to 14,600 SGD per month (maximum salary).
- Median SalaryThe median salary is 9,430 SGD per month, which means that half (50%) of people working as Project Manager(s) are earning less than 9,430 SGD while the other half are earning more than 9,430 SGD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
- PercentilesClosely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Project Manager(s) are earning less than 6,360 SGD while 75% of them are earning more than 6,360 SGD. Also from the diagram, 75% of Project Manager(s) are earning less than 12,000 SGD while 25% are earning more than 12,000 SGD.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios.
Project Manager Salary Comparison by Years of Experience
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Project Manager salaries by experience level and this is what we found. A Project Manager with less than two years of experience makes approximately 5,660 SGD per month.
While someone with an experience level between two and five years is expected to earn 7,490 SGD per month, 32% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 10,000 SGD per month, 34% more than someone with two to five years of experience.
Additionally, Project Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 11,900 SGD per month, 19% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 12,900 SGD per month, 8% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 13,800 SGD per month, 7% more than people with fifteen to twenty years of experience.
Project Manager Salary Comparison By Education
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Project Manager salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Project Manager is 7,090 SGD per month. While someone with a Certificate or Diploma gets a salary of 8,080 SGD per month, 14% more than someone having a High School degree.
A Bachelor’s Degree gets its holder an average salary of 11,000 SGD per month, 36% more than someone with a Certificate or Diploma. Professionals who hold a Master’s Degree are rewarded with an average salary of 13,800 SGD per month, 26% more than someone with Bachelor’s Degree.
Is a Master’s degree or an MBA worth it? Should you pursue higher education?
A Master’s degree program or any post-graduate program in Singapore costs anywhere from 42,200 Singapore Dollar(s) to 127,000 Singapore Dollar(s) and lasts approximately two years. That is quite an investment.
You can’t really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Project Manager Bonus and Incentive Rates in Singapore
A Project Manager is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.15% of surveyed staff reported that they haven’t received any bonuses or incentives in the previous year while 85% said that they received at least one form of monetary bonus.Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
Types of Bonuses Considered
Individual Performance-Based Bonuses
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone. Holiday / End of Year Bonuses These types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
| The main two types of jobs | |
| Revenue Generators | Supporting Cast |
| Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
| Example: A graphics designer working for a graphics designing company. | Example: A graphic designer in the marketing department of a hospital. |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
“Try to work for companies where your skills can generate revenue. We can’t all generate revenue and that’s perfectly fine.”
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Conclusion
Even if the project managers have some experience, they are sort of junior level. There are not many online project management training that can help them to quickly break through these limits. Thus, it is just right to draw a conclusion -a project manager certification course is needed for project managers in Singapore and anywhere else in the world.
