Highest Paying Jobs in Singapore
Singapore is a well-known country for their business prowess and how fast their economy has grown. As at 2015, the Global Competitiveness Report named Singapore as the second most prospering economy in the world. They are also known for their wealth as it is believed that one out of every six people in Singapore has over a million dollars in assets. That is a very rich country! In Singapore, the average worker is very well paid. However, there are specific jobs where people make a lot of money as compared to others. It is also believed that most of the wealthy individuals in the country became rich in less than ten years which goes to explain how high their salaries are.
And it is said that there are currently over 200,000 millionaires in Singapore and over 5% of their population form part of the richest people in the world.
That being said, let us take a look at the highest paying jobs in Singapore. And without further ado, below are the top paying jobs you can find in this great island city-state.
HEADS OF VENTURE CAPITAL/ PRIVATE EQUITY FIRMS
As at 2020, one of the highest paying jobs in Singapore is the job of Venture Capital and Private Equity Heads. With this job, professionals earn over 35,000 SG dollars a month. Their salaries are worth it because their jobs are in the field of investments and finance which always puts the companies they head at risk of losses. These business minded workers provide investment to promising businesses.
Judges are also one of the highest paid people in Singapore. Well known to solve cases between opponents, they go through cases and help in settling issues making them one of the most essential professionals in the county. They make up to 30,000 SG dollars on monthly basis.
GENERAL MANAGERS / CHIEF EXECUTIVE OFFICERS
These executives are also very well paid. In this field, the sector you find yourself in also plays an important role in how much you earn but generally, Managers and Chief Executive Officers earn over 27,500 SG dollars monthly. Their work is very demanding as well since they have to supervise a lot of people and ensure they get their jobs done right. They also have to make sure every sector in the company is doing what needs to be done to make sure the company is running well. They lead and organize the affairs of the workplace.
HEAD OF SALES
Another lucrative source of income in Singapore is the sales industry. Sales/selling is a very important aspect of every business because in every field, one is either selling goods or services. That goes to justify why Heads of Sales earn their money. Based on our investigations, these professionals can earn over SG dollars. No matter how much technology changes things, sales persons will always play a vital role in the world of business. These people put together sales targets thereby monitoring the growth of the company and doing the best they can to make sure the company gains profits not losses.
Medical Practitioners are among one of the highest paid people in Singapore. They can earn over 18,500 SG dollars at the end of every month. This is mostly because of the time and effort they need to attain that level of medical skill. Medical Practitioners who usually specialize in particular fields of health care delivery earn more. Due to this, it is believed that Singapore has one of the best health care services in the world with people coming from all walks of life to experience their trusted services. To become a medical practitioner, one has to go through medical school for five years and do their residency for a few more years in a health facility.
General Physicians are also very well paid in the country. Most of them take really good care of their patients to the point of offering home services especially considering that they are needed in the communities. They are known to earn over 17,000 SG dollars at the end of each month. They usually give their clients non-surgical services and are on call most of the time especially if they become personal doctors to individuals and families among others. Usually they are the first a person sees before seeing a specialist if they need to.
DIGITAL TRANSFORMATION SPECIALISTS
Also earning almost the same as Medical Practitioners are Digital transformation Specialists. It is their job to usher a company into the world of technology. Most of the time, they help a company transition from their colloquial ways to new technological ways. They help the companies stay in the game and stay relevant by making sure they are well updated. They earn over 18,500 SG dollars monthly as well.
Do you know who Portfolio Managers are? They are people in charge of investment choices and decisions on behalf of clients or companies. They usually pay attention to the financial market before making decisions for their clients. Their jobs are so crucial they can command a salary ranging in the region of 18,500 SG dollars and over.
DEVELOPMENT AND RESEARCH DIRECTORS
Development and Research Directors earn about 16,000 SG dollars on a monthly basis. This job spreads across different fields including financial, technological and different working spaces. They play a major role in the growth and development of companies. They put in a lot of work so they can direct the affairs of the company in the right direction. Furthermore, they coordinate and control affairs of the company, especially researching what helps the company or puts the company at risk.
REAL ESTATE AGENTS
These professionals in the real estate business are intermediaries between individuals or groups and property owners and they make up to 15,000 SG dollars per month. They sometimes help a client find a place or help property owners find clients. They also do negotiations on behalf of clients or property owners.
HUMAN RESOURCE MANAGERS
In the working field, it is almost impossible for work to go on smoothly between heads of the company and workers without the representation of Human Resource Managers. Human Resource professionals in SG can earn over 14,500 per month. Their jobs are really important because they are in charge of selecting appropriate workers for every sector of the company. They train and access the performances of the workers and encourage the staff in different ways to be relevant to the company. They also work as intermediaries between the company executives and the staff and that way, they make the flow of work easier in a working environment. They are well sought after by almost all businesses.
Legal Counselors are also on the list of high earning personnel in Singapore. To be able to work well in this sector however, a counselor has to have business knowledge. In this sector, a person can earn over 14,000 SG dollars every month. To qualify for this position however, a person has to go through a lot of education and training. The legal counselor plays the role of a protector and an advisor to the company. They also provide representation in legal issues as well. To qualify for this position, one must have practiced law for at least three years after their degree. Some of these professionals choose to work for different clients as part of a law firm.
BROKER IN THE SHIPPING INDUSTRY
The next well paid job is the job of the broker in the shipping industry. These people serve as intermediaries between clients and their ship owners to help them transport their products. Their profession is vital in the shipping world it can earn them over 13,000 SG dollars each month. This is however a job where one does not really require a lot of formal education to take part in. That being said, one should be a communications expert to be able to be in this field. Apart from standing in the middle of negotiations, they also do their best in getting the best deals for their clients.
FOREIGN EXCHANGE BROKERS
Brokers in Foreign exchange also make high earnings in the work industry. Singapore has a huge financial market which makes it reasonable that foreign exchange brokers are well paid. To be able to qualify in this field, one has to have good qualifications in Marketing or Business. With this job, brokers trade in different currencies. They buy different currencies and sell them at a profit. Their jobs can be risky because it is so easy to make losses if one is not very careful. These professionals are can make an estimated amount of 13,000 SG dollars as their monthly pay. Some of them work independently while some work on behalf of institutions.
LECTURERS AT THE UNIVERSITY
Gaining education is one of the most important things all over the world. By virtue of this, it is not surprising that lecturers in the universities of Singapore also get well paid. These very important professional can earn almost 13,000 SG dollars as monthly salary. This field is also really demanding as lecturers need to do a lot of learning and research to be relevant in their field. They also guide their students and ensure that they do the best they can through different types of studies. To get to this level, professors start as Associate professors all through to Professorship.
The average finance dealer in Singapore can earn over 10,500 dollars a month. The primary function of a finance dealer is to act as an intermediary for their clients when it comes to selling bonds and stock.
CHIEF TECHNOLOGY OFFICERS
Technology has really advanced in Singapore. And since it is one of the reasons this island city-state is getting so recognized all over the world, it comes as no surprise that Chief Technology Officers and Chief Information Officers fall into the list of well paid professionals. In this field, officers earn over 11,000 SG dollars every single month. In different businesses, they create technological solutions and manage them for companies.
ENGINEERS IN THE SHIPPING INDUSTRY
Engineers in the shipping industry are also well paid in Singapore. They usually earn a little over 10,000 SG dollars monthly. It is their job to make sure vessels belonging to the institutions they work for are well taken care of and are not in violation of any rules or laws. They also oversee the maintenance and repairs of the ships when there are issues with them.
A POLICY PLANNING MANAGER
Policy planning managers are people who put together plans and policies to enable the growth of businesses. An experienced policy planning manager in Singapore can earn over 10,000 dollars monthly. To be relevant in this field, a person is required to have command in communication and management. These people research what policies the company needs and puts it together for them to ensure that they are headed the right way.
HEAD OF COMPLIANCE
Compliance Heads are also very important in the business landscape because they make sure there is law and order. They ensure all rules and regulations are obeyed to enable the smooth running of the working space. And how much SG dollars do these professionals make each month? 9000 SG dollars. A very experienced compliance head, who sometimes even plays the role of legal counsel to the company, can earn more!
The people who manage the financials of businesses are Treasury Managers and are known to be very important in every company. It is their responsibility to make sure the company is not at risk of debt or losses. It is practically their job to protect the finances of the company. They also manage the financial reputation of the companies they work for. On a monthly basis, these professionals earn over 9000 SG dollars.
Insurance has become a very relevant field in our day to day living, considering there are risks in every aspect of life. Insurance Managers guide companies in making relevant choices regarding risks they could encounter. These insurance professionals/experts can command somewhere in the region of 9,000 SG dollars plus on a monthly basis. Sometimes, they work with brokers and agents to provide a broader field to their clients.