Highest Paying Jobs in Singapore For 2018 (And a Section For The Fresh Grads!)
A high paying job is what most people yearn for, in an era where the cost of living is continuously on the rise. A well-paying job acts as an accessory to a happy living when it makes it easy to afford a yearly vacation or buy whatever one’s heart desires.
However, there is no disputing that there are also those that envision a job as a passion and not as a means of living a comfortable life. All in all, it is important to have a balance between passion and a job that can guarantee the ideal standards of living.
Singapore is the financial hub of South East Asia is home to some of the best paying jobs in the world. The proliferation of multinationals into the island nation has seen the cost of living skyrocket, and so employers are paying top dollars to keep employees happy.
There is a huge demand for skilled professionals in Singapore, and the jobs come with hefty pay perks as employers seek to cling on to some of their best talents that the market has to offer.
Legal Counsel: S$41,000
Known for their wits in handling cases that in normal circumstances could see someone hit with a hefty fine or even a lengthy jail term, lawyers are some of the best-paid professionals in Singapore. Depending on the firm one is working for, or a company one is representing, an experienced, reputable lawyer, in Singapore, can walk home with more than $41,000 a month as pay.
Lawyers in Singapore’s private sector are some of the best paid in the world as they are known to represent high net worth clients or multinationals. Years of experience plays a role in determining the amount of money one is likely to walk away with as well as a track record in getting favourable rulings. In Singapore lawyers with 10-15 years of experience can earn as much as S$375,000 a year.
With the lofty pay perks so comes long working hours that require these professionals to go through loads of paperwork in a bid to have an edge while defending clients in courts of law or representing their company’s interests.
CFO/ Finance Director: S$26,000
Finance officers act as the backbone of companies given that the decisions they make on the financial front go a long way in affecting the company’s direction as well as growth prospects. Experienced Chief Financial officer is some of the most sought after in Singapore, given that the country is a financial hub.
The fact that the country also plays host to some of the largest financial institutions in the world dictates that these professionals are paid the same perks as their counterparts in other top economies. Unlike in the past, Finance officers nowadays play an important role, right from managing the company’s finances to managing financial risks and ensuring accurate financial reporting and record keeping.
Chief Financial Officers also assist in the formulation of the company’s future direction while also monitoring and directing the implementation of strategic business plans. They also participate in critical decisions as members of the executive management team.
Chief Finance Officer in some of the biggest companies and financial institutions in the country can earn between $315,000 and $430,000 a year. For one to be considered for the CFO position in most companies one must have a master’s degree in accounting or business administration with 10+ years of experience in a major company
Head of Medical Affairs: $24,000
Head of Medical affairs plays an integral role in taking care of all medical aspects of clinical development. Professionals in this field of healthcare ensure that only the appropriate drugs under development are approved’ and licensed for distribution.
Given that Singapore is also a life sciences hub, the demand for professionals with experience in clinical development and regulation remains strong. Given that the decisions they make go a long way in influencing the medicines that find their way into pharmaceutical shelves explains the big pay perks that these professionals command.
Scientific and regulatory specialists also fall under this bracket given that they possess vast knowledge for product development, manufacturing as well as approval.
Medical Specialist: S$23,000
It does not come as a surprise that Medical Specialists are some of the most paid professionals in Singapore. The more than five years spent in medical school to refine skills for saving lives all but calls for exciting pay perks given the nature of the job.
Singapore being a healthcare hub has gone a long way in ensuring that medical specialists are well remunerated given the dedication and effort they put to save people’s lives. Experience matters a lot when it comes to the amount of pay one stands to walk away with in this case.
Anesthesiologist’s cardiologists, as well as neurosurgeons, are some of the highest paid professionals in the broader industry. Surgeons command huge respect in the field given that they carry out life-saving operations. Given the high-stress levels, they absorb on a daily basis explains why they are highly remunerated just to keep their spirits up.
Long working hours as well as always being on the dial for emergency calls is some of the things that specialists in these field of employment have to contend with. A typical health care professional could work up to 80 hours a week.
Head Of Human Resources HR: S$20,000
Companies in Singapore are increasingly putting a focus on human capital as a way of shrugging off competition from rivals. Head of human resources in some companies earn between S$250,000 and S$270,000 a year.
Some of the factors that determine the amount of money an HR executive will walk away with include the number of years of experience as well as whether they have experience working as an HR business partner.
Human Resource Heads are tasked with the responsibility of discovering fine talent from the market that a firm or company can rely on, to further its growth trajectory. They are also tasked with the responsibility of formulating frameworks that ensure a high retention level of top talent within the organization.
Human Resource heads are also looked upon to align business objectives with those of employees and management team. HR Heads with more than 10 years of experience can earn more than $325,000 in some of the biggest companies in the country.
Investment Banking Associate: S$19,800
Just like in the big economies Investment banking associates are also top earners in Singapore. In addition to basic salaries, Investment bankers in some firms are entitled to bonuses depending on the amount of money they help generate for a company on a monthly or quarterly basis.
Investment Bankers in most firms are tasked with the responsibility of analyzing various markets and use a firm’s capital to invest in stocks bonds and other financial products such as commodities and currencies.
Investment banking job comes with a high degree of stress levels given that such professionals are looked upon to come up with brilliant ideas sure to beat ANY market. They are also looked upon to help a firm navigate choppy waters in case of a down turn in the overall market. While a single transaction from an idea can earn a company millions of dollars in profits, so can the losses pile up in case of a small mistake?
Marketing Director: $18,000
Big firms that deal with customers on a daily basis need experienced marketing directors to ensure that their products reach the desired target market and are able to generate the desired returns. Salaries of marketing director in Singapore vary depending largely on the area of specialization.
Marketing director with vast experience in digital marketing command huge respect and pay in the country. Companies are aggressively looking for top digital talent to be able or reach out to the desired target market in line with the digital transformation in the country.
Marketing directors with a focus on digital and e-commerce can earn as much as S$300,000 on average, annually. Their counterparts in the financial services sector, on the other hand, can earn as much as S$285,000, while those in the industrial sector can earn up to S$220,000 a year.
Engineers/ Network Maintenance: $16,000
Engineers also earn top dollars given the nature of their jobs that involves coming up with innovations as well as solving problems depending on the area of specialization. Due to the variance in engineering jobs, salary depends on the area of specialization as well as the amount of experience that one has accrued.
Engineers with more than 15 years’ worth of experience can earn up to S$275,000 a year, while those with experience less than 15 years, can expect to walk home with about $200,000 annually.
Network maintenance engineers are some of the best paid in the field of engineering given that virtually every major company in the country is connected to the internet. The professionals are most of the time looked upon to prevent network crashes that may affect operation. They are also tasked with coming up with solutions that ensure optimization of IT infrastructure.
Network Engineers are also relied upon to ensure that a company’s network is hack proof given the ever-growing risk of such systems coming under attack from unscrupulous people looking for valuable information. IT Security consultant also commands huge pay perks in this field as they lead the war against hackers in a company and ensure a network is hack proof.
University Lecturers: $13,000
Singapore economy has continued to grow at an impressive rate in part because of the amount of work put by higher learning institutions in churning out top talent in various sectors of the economy. That said, Lecturers in the country are well remunerated with some of them commanding huge paychecks sure to envy anyone.
Apart from an outstanding academic record, one needs to have high academic qualifications to be a university lecturer in the country. A salary of $13,000 a month all but goes a long way in motivating these professionals to impart the necessary skills to their students
In addition to basic salary, Lecturers in Singapore enjoy a good work-life balance that includes foreign travel to further studies as well as a chance to carry out individual studies and research.
Market Risk Analyst: S$12,000
Singapore being a financial hub means there is a growing number of firms looking for analysts to analyze the various markets and provide areas to invest money for higher returns, at reduced risk. Market Analysts are thus relied upon to conduct in-depth research that paints a clear picture of the various investment opportunities.
Market Risk analysts use their experience and knowledge to formulate ideas on possible investments. Their research works are normally utilized’ by clients for investment purposes. The profession requires extensive knowledge when it comes to trade, finance, business and economics for one to formulate profitable investment ideas.
Given the number of hours spent on analyzing various markets, to come up with it, investable ideas explain why Market Risk analysts command such top dollars when it comes to pay perks.
High Paying Jobs for Fresh Graduates
Contrary to perception, very few people ever start earning a lot as soon as they finish school. However, some jobs are known to reward fresh graduates handsomely, as they study them and await them to accrue THE much-needed experience.
Fresh graduates right from medical schools who are trained as doctors can enjoy a starting salary of $3,095 a month, which increases depending on experience accrued. Other high paying fresh graduate jobs in Singapore include Biotechnology ($3,082), Process Design and Control ($3,055), Corporate Finance ($2, 959), Banking and Finance ($2,758) and IT Software ($2,718.)