Demand for Analysts Grows as Equities Market Gains Momentum: Industry Players

Why It Matters

Stronger research capacity deepens market liquidity and offers investors richer analysis of Singapore’s expanding equity universe, positioning the city‑state as a more attractive hub for capital‑raising.

Key Takeaways

• SGX and MAS reforms spur analyst hiring surge
• Maybank, OCBC, iFast increase analyst headcount
• Salaries range S$7k‑20k monthly for analysts
• GEMS programme allocates S$50 million for research coverage
• Programming skills now essential for equity analysts

Pulse Analysis

The Singapore Exchange’s recent reforms, coupled with the Monetary Authority’s push for greater coverage of small and mid‑cap issuers, are reshaping the local equities landscape. By encouraging deeper sector research, regulators aim to improve price discovery and attract a broader investor base. This policy shift not only lifts the Straits Times Index but also creates a virtuous cycle: more granular analysis draws institutional capital, which in turn fuels further market depth.

Against this backdrop, financial firms are scrambling for analytical talent. Maybank Securities, OCBC, iFast and other players have announced net increases in analyst headcount, targeting niche segments that were previously under‑researched. Compensation packages have risen, with monthly salaries now spanning S$7,000 to S$20,000, reflecting the premium placed on both traditional accounting acumen and emerging technical skills such as programming and AI‑driven data analysis. The competition is intensifying as graduates and seasoned professionals alike seek roles that combine sector expertise with fast‑paced research environments.

Regulatory incentives are cementing this momentum. The Grant for Equity Market Singapore (GEMS) scheme, bolstered in 2025 with a S$50 million allocation, directly funds research on undervalued small‑cap stocks, while the broader Equity Market Development Programme supports asset managers focusing on local equities. These subsidies lower the cost of expanding research teams, encouraging banks and brokerages to sustain hiring even if broader market conditions soften. For investors, the net effect is richer, more diverse coverage that can uncover hidden opportunities and enhance portfolio construction across the region.