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Highest Paid Positions In Singapore (2018)

When the 2018 Michael Page Salary Guide was released, it highlighted the salary benchmarks for an array of jobs across many sectors and industries in Singapore. Naturally, you may focus on the higher end of the spectrum – those people who earn the most. However, investigation must not stop with a single survey! I came up with a slim list that includes data from PayScale. PayScale is a company which, “pioneered the use of big data and unique matching algorithms to power the world’s most advanced compensation platform”.

On that note, here are the Highest Paid Positions In Singapore (2018):

#5: QUALITY ASSURANCE DIRECTOR

Other than a potent Wi-Fi connectivity, Quality Directors are in demand countrywide. There is a growing need in the following sectors: semi-conductor, aerospace, and chemical. Quality Assurance Directors in these sectors can expect a salary of about S$173,000 to S$315,000 each year.

Holding excellent technical and people management skills will help you to become a Quality Assurance Director.

#4: HUMAN RESOURCES (HR) DIRECTOR

As the global workplace puts emphasis on developing human capital, the head of Human Resources can negotiate a salary of up to S$328,000 annually. A key factor that contributes to the salary is the individual’s years of experience or prior background as a HR Business Partner. HR Business Partners are tasked to align the company objectives with the employees found locally, regionally, or internationally. Furthermore, they serve as a consultant to management on HR-related issues.

Image Credits: pixabay.com

In general, HR Directors found in the banking or financial sector earn the most.

#3: MANAGING DIRECTOR (HEALTHCARE)

It is no secret that Singapore upholds its position as Asia’s fastest growing bio-medical hub! Thus, it creates the need for higher level talents in this industry. Managing Directors in the healthcare sector make a significant amount of money to accompany their significant responsibility. It has been observed that healthcare employers are prepared to provide career progression opportunities to mid to senior-level talents. You can be groomed to earn up to S$390,000 per year.

#2: CHIEF FINANCIAL OFFICER

In banking and financial services sector, executive level talent is always sought-after! Our generation’s Chief Financial Officers are more strategic, pronounced, and immersed. The deeper integration in strategy, planning, and performance management entails an asking salary of about S$144,257 to S$455,977 per year.

#1: LEGAL COUNSEL

Lawyers in the private practice have the highest salaries as they earn an average of S$500,000 annually.

Image Credits: pixabay.com

Without a doubt, the years of experience play an integral part in determining one’s salary. For instance, lawyers with 10 years of experience can earn up to S$375,000 a year. You can expect a 25% jump in their salary (approximately) as you transcend the 15 year mark.

Sources: 1 & 2

Highest-Paying Jobs For Fresh Graduates Of Singapore

For individuals who are in a serious search for a management consulting firm with global grasp, Hay Group is a viable option. Hay Group aims to transform your company’s distinct strategy into coveted reality. It makes things possible by developing and motivating talent to be more efficient at the workplace. In its relatively recent survey, this firm tackled the salary expectations of approximately ninety-five organizations in Singapore.

The aptly called “Fresh Graduate Pay Survey” found the average monthly salary for degree holders without Honors, with Second-Lower Honors, and with Second-Upper honors. The 2014 starting salary for these said categories were $2,741, $2,853, and $2,939 respectively. Furthermore, the researchers showed that the employers were likely to pay more for degree holders than for mere diploma holders. The gap in credentials and certificates is understandable as the country poses importance in education.

The highest-paying positions for diploma holders were in the industry of Engineering, Marketing, Administration or Support, and Information Technology. Diploma holders holding positions in the field of Engineering had an average salary of $1,976. While, diploma holders in the Marketing field had an average salary of $1,938. If you are planning to reap an administrative or client’s support position as a diploma holder, you will likely to have a salary of $1,925. Lastly, diploma holders in the Information Technology industry can expect a salary of $1,920.

Let us dive into the highest-paying positions for degree holders. The top four slot belongs to Project Management. The average starting pay for this position as a degree holder without Honors is $2,813. Project managers oversee and document most of the aspects of a certain project.

The third spot belongs to the field of Information Technology (IT). Many of my friends have spouses who thrive in this fast-paced scene. You see, IT has a myriad of offerings including programmer, systems analyst, and software engineer. Find one that fits your preference and expertise. Know that the average starting pay for this position as a degree holder without Honors is $2,816.

The Legal positions still holds a sense of prestige next to becoming a certified physician. There has been a shortage of fresh law graduates, which is why possessing a law degree is easily attractive. The average starting pay for this position as a degree holder without Honors is $2,856.

Image Credits: pixabay.com

As a specialized degree, it is no wonder that fresh engineering graduates earn the highest median salary ($2,888) of among the list.

The main takeaway from this research is the fact that the primary motivation of the fresh graduates is not the salary. Most of the participants highlight thirst for the accelerated career development as money will follow. Cultivating the aspects of the well-being such as autonomy and self-expression in the workplace is a must.

6 Highest Paying Jobs In The Field Of Technology (IT)

With the increasing global concern for cyber security across companies, there has been an ongoing demand for Information Technology (IT) Professionals. In fact, recent study showed that the five highest income-earning sectors in Singapore include Information Technology alongside Banking and Finance, Petrochemicals, Pharmaceuticals, and Semiconductors.

Salary.sg, a website dedicated to relay information on career and jobs, used the Ministry of Manpower wage date and excluded the bonuses and profit-sharing to generate the monthly gross wages of over a hundred jobs in Singapore. Looking at the IT sector through a microscope, here are the 6 Highest Paying Tech Jobs In Singapore based on the 2014 data by Salary.sg:

6. NETWORK AND SYSTEMS ENGINEER

Network and Systems Engineers can earn about S$4,000-7,000 a month.

They are tasked to oversee functionality, security, and design of the computer systems. To keep the internal and external company databases running smooth, they are responsible to look to how information is shared both internally an externally.

5. APPLICATION DEVELOPMENT CONSULTANT

Application Development Consultants can make about S$5,000-7,000 a month.

They are tasked to consult with the program managers, senior consultants, and clients to understand information requirements, operational procedures, and transaction processing. Basically, they are responsible for designing fresh software applications from the concept to completion.

4. INFORMATION TECHNOLOGY TESTING IT

Testers can earn about S$6,360 a month.

IT Testers are tasked to check for system bugs or other concerns in the new software to ensure that the company standards are maintained or that the product integrity is preserved. They examine a program by going through its typical uses and noting down the observable problems.

Image Credits: Bob Mical via Flickr

3. INFORMATION TECHNOLOGY SECURITY SPECIALIST

IT Security Specialist can make about S$6,385 a month.

IT Security Specialists are tasked to analyze the security breaches that have or may occur. Then, they must repair and strengthen the system against these breaches. Simply put, their work focuses on the risks to the security of valued company information or data.

2. INFORMATION TECHNOLOGY PROJECT MANAGER

IT Project Manager can have a paycheck of about S$8,320 per month.

A bachelor’s degree and significant years of experience is usually required for this position. IT Project Managers are tasked to manage and coordinate with the staff to oversee various computer-related assignments for the company.

1. CHIEF TECHNOLOGY OFFICER

Chief Technology Officer (CTO) can earn about S$10,648 per month, on average.

CTOs are tasked to play an important role in setting the company’s direction, development, and future growth by supporting all information and technology-related operations. With your growing years of experience and educational background in tech, you too, can be the CTO.

Image Credits: Chad Kainz via Flickr

Sources: 1, 2, 3, & 4

4 Highest Paying Jobs In The Field Of Psychology

One of the most popular degrees, aside from Business Administration, is Psychology. There are various career paths to choose from including the fields of Forensic Psychology, Sport Psychology, Counseling, Clinical Psychology, School Psychology, and so on. Also, you can choose to work with children, youth, or elderly. All you have to do is search for what you are truly passionate about.

Now, if you desire to earn big in this area, here is the data from 2011-2014 to show the 4 Highest Paying Jobs In The Field Of Psychology…

4. FORENSIC PSYCHOLOGIST

Minimum Requirement: Master’s degree in Forensic Psychology. But, doctorate degree in forensic psychology, clinical psychology, and counseling can get you a better salary.

Forensic Psychologists carry out duties that are related with the law such as examining abuse, providing expert testimony, preparing witnesses of the court, training officers of the law, and profiling criminals.

3. ENGINEERING PSYCHOLOGIST

Minimum Requirement: Master’s degree. But, doctorate degree in Engineering Psychology will find you greater employment opportunities and better salary.

Due to the 21st century technology, there is a rapid growth in the demand for Engineering Psychologists. Engineering Psychologists focus on upgrading the technology, machines, and workplace environment to increase productivity and minimize danger. This in return will enhance the behavior of the employees and the people around.

Image Credits: Frits Ahlefeldt-Laurvig via Flickr

2. INDUSTRIAL/ORGANIZATIONAL PSYCHOLOGIST

Minimum Requirement: Bachelor’s degree in Industrial/Organizational Psychology. But, masters and doctorate degree will find you greater employment opportunities and better salary.

Industrial/Organizational Psychologists usually work in the corporate setting to help improve the performance and efficacy of the workplace. They are involved in examining workplace culture, employee training, human resources, and marketing strategies.

1. PSYCHIATRIST

Minimum Requirement: About eight years of post-undergraduate study with training.

Child Psychiatrists must be trained to treat children and teenagers who have mental disorders. While, General Psychiatrists do not specialize in a specific discipline. There are different kinds of Psychiatrists but one thing is for sure they are usually on the top of the list when it comes to salary.

Image Credits: Hartwig HKD via Flickr

Sources: 1, 2, & 3

4 Highest Paying Jobs That You Can Get With A Business Degree

One of the most sought after degree is Business Administration or any related Business course. If you desire to succeed in business, you shall not only focus on your grades but also on your networking both before and after you graduate.

Resources and connections play a huge part especially in the business world. Being able to keep in touch with your fellow graduates will help a lot.

Looking into the Highest Paying Jobs for Business Majors, I found a research by Monster.com and PayScale.com. Monster.com is an online global employment solution for people seeking jobs and for the employers who need the right people while PayScale.com provides salary data from its online database.

4. MEDIA SUPERVISOR

Average Salary: US$70, 800

Media Supervisors are usually found in the advertising or publishing field. They oversee media researchers, consumers, and planners to make sure that the right tone of ads appears on the social media, newspapers, radio, and TV shows. Their goal is to maximize the company’s media budget in the most productive way.

3. REGIONAL SALES MANAGER

Average Salary: US$71, 200

Regional Sales Managers are found in computer systems design, management, technical consulting services, agriculture, construction, health, pharmaceutical, and medicine manufacturing department. They develop goals and quotas, analyze staff sales, and manage training programs for the staff.

2. SENIOR FINANCIAL ANALYST

Average Salary: US$74, 500

Senior Financial Analysts are found industries such as banks, computer systems design, commercial equipment wholesalers, and security affairs. They are in charge of analyzing the data that affects the companies’ investment and other financial programs.

1. BUSINESS DEVELOPMENT MANAGER

Average Salary: US$82, 500

Topping the list are the Business Development Managers. Business majors in this line of work take advantage of business opportunities either by optimizing current revenue streams or creating new ones. They identify key partnerships, research information on consumers and competitors, and understand the industry’s landscape.

Image Credits: SmithGreg via Flickr

Popular industries that cater to Business Development Managers are consulting services, electronics and appliances stores, research and development services, and computer systems design.

Source: Monster.com

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