Commodity trading is a high-stakes world where professionals earn a significant chunk from bonuses and commissions. Vitol, the largest independant oil trader, made the news when it was leaked that the average remuneration rose above $785’000, which tops any top-tier bank’s salary!
Thanks to the deep network of the Shipping and Commodity Academy, we were able to ask this burning question to a large pool of traders.
The base salary for a commodity trader can vary widely based on factors such as experience, geographical location, and the specific commodity being traded. As a rule of thumb, the larger the volume traded, the larger the trader’s remuneration.
During the survey, we noticed that local commodity trading firms usually pay 50% less than international commodity trading companies.
Before diving in, please also note that the Singapore tax bracket on salary varies a lot from 15% to 24%.
Agricultural Trader in Singapore
Junior Agri Trader Salary
- Average base salary 83,000 SGD
- Bonus between 10% to 100% of the base salary
Experienced Agri Trader Salary
- Average base salary 180,000 SGD
- Bonus between 0% to 200% of the base salary
Senior Metal Trader Salary
- Average base salary 320,000 SGD
- Bonus between 0% to 300% of the base salary
Metal Trader in Singapore
Junior Metal Trader Salary
- Average base salary 84,000 SGD
- Bonus between 10% to 100% of the base salary
Experienced Metal Trader Salary
- Average base salary 220,000 SGD
- Bonus between 0% to 200% of the base salary
Senior Metal Trader Salary
- Average base salary 310,000 SGD
- Bonus between 0% to 300% of the base salary
Energy Trader in Singapore
Junior Energy Trader Salary
- Average base salary 110,000 SGD
- Bonus between 10% to 100% of the base salary
Experienced Energy Trader Salary
- Average base salary 220,000 SGD
- Bonus between 0% to 200% of the base salary
Senior Energy Trader Salary
- Average base salary 390,000 SGD
- Bonus between 0% to 300% of the base salary
Interested in breaking into the world of commodity trading? Don’t hesitate to download our brochure, we’ve helped hundreds of students get into this fascinating industry
Singapore is a prime location for commodity traders for a variety of reasons:
Strategic Location: Singapore is strategically located at the crossroads of major shipping routes, serving as a crucial hub for trade between the East and West. This makes it convenient for commodity traders, especially for those dealing in physical goods.
Stable Political and Economic Environment: Singapore has a reputation for its stable political system, sound economic policies and robust legal framework. This stability is attractive to businesses, including commodity traders.
Favorable Tax Regime: Singapore offers a competitive tax regime. Many businesses are attracted to its low corporate tax rates, absence of capital gains tax, and several tax incentives for specific industries, including commodity trading.
Financial Hub: Singapore is a major financial hub with a strong presence of international banks, financial institutions, and other service providers. This offers commodity traders easy access to financing and other financial services.
Transparent Regulatory Environment: Singapore has a transparent and robust regulatory framework that gives confidence to traders and their counterparts. The Singapore International Arbitration Centre (SIAC) is also widely recognized for dispute resolution.
Skilled Workforce: Due to its emphasis on education and continuous learning, Singapore has a highly skilled and multilingual workforce familiar with global trade practices, which is invaluable for international commodity trading.
Pro Business Government: The Singapore government is known to be pro-business with various initiatives and schemes in place to promote trade and investment. Their agencies, like Enterprise Singapore, have specific divisions dedicated to promoting the commodity trading sector.
Networking Opportunities: Numerous global commodity conferences, seminars, and events take place in Singapore, providing excellent opportunities for networking, learning about industry trends, and exploring new business avenues.
Ecosystem for Commodity Trading: Over time, Singapore has developed a complete ecosystem for commodity trading, including ancillary services such as legal, shipping, insurance, and inspection services.
Given these factors, Singapore presents an attractive proposition for commodity traders, and many global trading giants have set up their regional or global headquarters in the city-state.
Interested in breaking into the world of commodity trading? Don’t hesitate to download our brochure, we’ve helped hundreds of students get into this fascinating industry