Top 5 Highest paying Job Industries In Singapore

Singaporehas come a long way from its developing nation status and the unemploymentbaggage that comes with such to arrive at its current first world status. Whilesmall businesses flourish in the Asian country, employment opportunities havesoared as well.

WithSingapore’s push to become a Smart Economy, sectors like manufacturing,Information Technology (IT) and Healthcare have evolved over time. More peoplenow desire careers in these sectors. This has left the physical retail storesclutching at straws as e-commerce has changed the narrative in thatsector.

To ajob seeker, gaining an employment opportunity is definitely a big deal, but theassociated paycheck is much bigger. For those unaware, Singapore has industrieswith the highest paycheck you can think of.

Thesemouthwatering salaries aren’t just for those at the top of the company.Entry-level employees in these industries have been known to command salariesthat leave many onlookers green with envy.

If youare looking to earn big through a career path in Singapore, the followingindustries are worth the effort:

Accounting

Whileworking with figures might appear drab, these professionals are cashing outmore money than you think. According to Kelly Services Salary Guide for2018,accounting experts earn as much as $15000 monthly. This shouldn’t come as a surprisesince this is probably one of the most versatile career paths in existence.

Theservices of accountants are in great demand in the corporate space to overseedifferent strategic roles such as funding, risk management, financialmanagement and a lot more. Since there are not enough accountancy professionalswith the experience to fill these roles, the competition to secure the servicesof those available leads to higher paycheck offers. Not bad for such a boringjob!

Compliance Management   

Over time,the activities of this industry have stayed behind the curtains, and theprofessionals involved continue to command attractive salaries without much noise.

Fromthe findings in the Gemini Personnel Group SalaryGuide in Singapore,the compliant management industry has salary earnings of an entry employeerunning in thousands of dollars. Well, you can’t fault them. Saddled with theresponsibility of maintaining standards for other industries, keeping the beakof their employees adequately wet appears to be super productive.

Fromthe lowly operations analysts and fraud investigators to the executives thatform part of the decision-making team, the professionals in the compliantindustry are getting paid significant salaries that you can only dream of.

Banking and Finance

Theprofessionals in this industry might not be one of the top earners elsewhere,but in Singapore, they earn amazing paychecks. And there is a reason for this.Singapore has a robust liquid and capital market with many companies preferringto list in the country. There are more than 700companies listed on the Singaporean Exchange and a significant market capitalization sum tomatch this.

Withsalaries varying between $4,500 and $19,000, individuals working in theSingaporean banking and finance sector are the envy of their mates in otherindustries. The Singaporean authorities are looking to increase the number ofprofessionals working in the sector by making an entry into financialtechnology, expanding the asset management niche and establish the country asthe first choice when it comes to financing in the Asian continent. The futurelooks bright for anyone interested in a career in banking and finance.

Engineering and Technical

InSingapore, like everywhere else, skilled labor comes at a steep price – highmonumental salaries. Due to the strong demand for individuals with disciplinesin engineering and other technical vocation, the salary structure for expertsthat possess the necessary track has been on the increase. Professionals inthis industry earn between $2000 and $9000 on a monthly basis.

One ofthe reasons why the engineering and technical industry remains a high payingone for professionals is the wide array of sectors that depend on this industryto survive.  Transport, electronics,info-communications, and media are some of the sectors serviced by thepersonnel from the engineering and technical industry. With the launch of theindustry transformation map for electronic engineering in Singapore,individuals in this discipline will remain in high demand for a long time.

Customer Service

Thoughpopular, customer service remains the industry with the widest range ofopportunities. Just about every sector depends on the industry to functioneffectively. Every company needs a professional who understands customer relations,company processes and can relate the same to a customer when necessary. Withsalaries varying between $1500 and $7000, professionals in this industry occupythe last spot on this list.

Customerservice has evolved over the years to combine the use of digital media andtechnology to respond to query by unsatisfied customers. Many companies nowhave bots to compensate for the input of customer representatives. Despite theautomation efforts, the industry remains strong in Singapore. The stringentforeign manpower regulations ensure the industry is never saturated. Themanufacturing, tourism and retail sector continues to demand the services ofpersonnel in this industry.

Other High Paying Industries

HealthCare and Life Sciences

Manymight find it surprising that this industry never made the top spot consideringhow the medical profession is one of the most sought after. But the salarystructure is decided by a lot of factors beyond a personal decision. Thehealthcare industry in Singapore isn’t as financially rewarding as many think.

Withthe National University of Singapore looking to increase intake for nursingstudents over the next few years, more healthcare workers are bound to bechurned out in their hundreds.

Human Resources

Withthe growth in the other industries, more people will be getting hired. Thehuman resources departments of these industries are bound to have their handsfilled. Hiring competent hands while keeping in mind the Singaporean laborregulations can be a tough ask. Experts in this industry can earn as much$18,000 monthly for their effort.

Conclusion

With the industries that offer the biggest paycheck in Singapore succinctly outlined, the onus is now on you to arm yourself with the skills required to get in contention for these jobs in Singapore. Get a degree and build your experience from the ground up. Goodluck!

You may also like to read:

Employee Benefits And Compensation Packages Job Seekers Are Seeking In Singapore

How to Get a Job in the Best Companies to Work for in Singapore

(By Molly Joshi)

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