Highest Paying Jobs for Fresh Grads to Aim For in Singapore
Getting a high paying job immediately after completing graduation is a dream come true. Depending on the type of industry a person wants to work in, there are multiple opportunities in every field that they can prepare for. Here are some of the highest paying jobs for fresh graduates to aim for in Singapore.
The recruitment firm Kelly Services predicted last year that the top-paying jobs will come from Finance and Insurance, Electronics and Precision Engineering, Storage & Wholesale Trade, and Retail & Food Services. The Singapore Salary Guide in 2018 stated that over the years the unemployment rate will come down to around 2.1% mostly because of the digital economy shift. Industry Transformation Maps (ITMs) are introducing new wage and employment opportunities for the workers which will eventually increase the chances of fresher getting the highest paying jobs.
Fresh graduates right from medical school who are trained as doctors can enjoy a starting salary of S$3,095 a month, which increases depending on experience accrued. Other high paying work for fresh graduates in Singapore include jobs in biotechnology (S$3,082), process design and control (S$3,055), corporate finance (S$2,959), banking and finance (S$2,758), and IT software (S$2,718).
1. Jobs in law
Singaporeans can earn around S$27,000 a month if they work hard in the field of law in 2019. They must, however, prepare themselves to work many more hours than the average person.
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 S$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 play 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.
2. Finance director jobs
Good talent is in high demand in the world of financial and banking services. The jobs in this sector nowadays are differ greatly from the traditional financial model leaning towards agility and proactivity. It means that the CFO or the finance directors of today have the pronounced profile having deeper integration in strategy, planning, and performance management.
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 officers are some of the most sought after people 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.
Chief financial officers 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 financial officers can earn between S$315,000 and S$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.
3. Healthcare and life sciences manager
Singapore is the fastest growing biomedical hub in Asia. This means that the demand for specialized skills and exclusive talent in the field of healthcare and life sciences is at the pinnacle here. Naturally, the salary on an average is much higher as compared to other fields. Incidentally, the employers are ready to groom deserving fresh graduates and local talent so that they can progress ahead and reach topmost levels in their careers.
Incidentally, this approach will also ensure that the healthcare and life sciences sector of Singapore gets the required skilled manpower for filling up the talent gap in the field. Fresher candidates can expect to earn around S$390,000/year as a general manager in this industry in 2019 as MNC’s working in the medical device sector will require greatly skilled, regionally focused manpower.
Head of Medical Affairs
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 onto 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.
It does not come as a surprise that Medical Specialists are some of the most paid professionals in Singapore. 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 in 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.
Anesthesiologists, 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 deal with 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 are some of the things that specialists in these fields of employment have to contend with. A typical health care professional could work up to 80 hours a week.
4. Head of HR (Banking and financial services)
Lately, companies give big emphasis on developing skilled manpower or human capital. That is the reason why they are ready to pay a S$325,000 salary to the head of human resources. A graduate in this field with a good score and recommendation from the college can get the career of a deserving candidate instantly at the top. It is one of the highest paid jobs for fresh graduates in 2019 and assures immense growth potential.
Head of HR
Companies in Singapore are increasingly putting a focus on human capital as a way of shrugging off competition from rivals. The head of human resources in some companies earns 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 in order 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 S$325,000 in some of the biggest companies in the country.
5. Director of quality manufacturing & engineering
Graduates in technology including chemical engineering, aeronautics and aerospace can expect to get the highest paying jobs in Singapore for 2019. The demand for such skilled graduates continues to remain strong. Getting the highest salary as quality directors, a person must possess a high level of technical skills and strong people management skills. Graduates who want to work as professionals, especially in the quality assurance and quality control, can earn an average of S$315,000.
Market Risk Analyst
Singapore has 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 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.
The number of hours spent on analyzing various markets to come up with investable ideas explains why market risk analysts command such high salaries.
Engineers/ Network Maintenance
Engineers also earn top dollar given the nature of their job, which 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 S$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 consultants also command huge pay perks in this field as they lead the war against hackers in a company and ensure network safety.
6. Director in marketing
Marketing is a very aggressive and demanding field. But the right attitude and having a degree in marketing management or administration can ensure one of the highest paying jobs in Singapore for young job-seekers. The highly evolving technology world offers significant opportunities for expansion and growth in the new markets. In the past few years, the demand for digital talent has skyrocketed as companies now look out for individuals who are flexible and ready to mould themselves according to the demands of an organization. More often nowadays the marketing directors have to focus on e-commerce or digital marketing, and hence can expect to earn around S$300,000.
In 2019, fresh graduates will command a salary of S$285,000 per year in the financial services sector, whereas those in the industrial and manufacturing sector will earn around S$220,000 per year.
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 directors in Singapore vary depending largely on the area of specialization.
Marketing directors with 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 of 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.
7. Corporate governance executive director
A fresh graduate in management with a degree from a reputed university or college can expect to work as an executive director in corporate governance related to mitigating and managing risks in any organization. It includes internal audit and compliance. In 2019, an executive director in corporate governance will earn around S$300,000.
Investment Banking Associate
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.
8. MNC lawyers
Working as an independent lawyer has scope for unlimited growth. But the in-house lawyer job in an MNC will be one of the highest paying jobs in Singapore for 2019 as the youngsters will command a salary of around S$300,000 per year. Of course, it is approximately 40% lower than the lawyers working in the private sector. However, even then the stability and steady career progression that this role offers can ensure a good rise for a new law graduate in a very short time.
There are so many high-paying jobs for fresh graduates in 2019. However, the most important thing that will ensure the highest paying jobs in Singapore are good grades in university and recommendations from the companies interned for and professors.
9. University lecturers
Singapore’s 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 receiving huge paychecks sure to be envied by many.
Apart from an outstanding academic record, one needs to have high academic qualifications to be a university lecturer in the country. A salary of S$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.