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Singapore-based bankers have high hopes for bonuses

Wednesday, 23 Oct 2013 | 3:40 AM ET
PeskyMonkey | E+ | Getty Images

Financial services professionals based in Singapore – Southeast Asia's financial hub – have high hopes for bonuses this year, according to a new survey.

Almost three quarters of the individuals surveyed in the city-state expect to receive a bonus this year, a global poll of 4,642 employed finance professionals by recruitment firm eFinancialCareers found. This is the second highest after Hong Kong and Germany, which tied for first place with 83 percent of respondents anticipating a bonus.

Reflecting optimism over their remuneration prospects, 50 percent of the Singapore-based participants said they expect a bigger bonus than last year. Most cited positive personal or company performances as the main reason for this. Meanwhile, 50 percent of respondents said they expect a pay increase in the next six months.

(Read more: Executive pay: Bonuses down, pay freezes up)

"Results from the survey indicate that basic salaries have increased and that people don't expect this uplift to come at the expense of their bonuses," said George McFerran, managing director, Asia Pacific at eFinancialCareers.

"The expectations of financial services professionals reflect a market that grew in confidence following good first-half industry results. However, bonus pay-outs still depend somewhat on a positive close to the year," he added.

Not all financial services workers were quite as upbeat on their pay prospects. In the U.K. and U.S. approximately 60 percent of respondents said they expected a bonus this year.

(Read more: Equal bonuses still prove elusive for women: Report)

Bonuses - typically announced between November and February depending on where the financial institution is headquartered - account for a large portion of compensation in the industry.

—By CNBC's Ansuya Harjani; Follow her on Twitter @Ansuya_H