Top 20 Highest Paying Jobs in Singapore in 2023 (With Salary)
Wokclass.co, Top 20 Highest Paying Jobs in Singapore in 2023 - The competitiveness of Singaporeans in career matters has already been widely known. Ranked by International Institute for Management Development (IMD) in the World Competitiveness Yearbook 2019, they set the bar in many areas such as sustained economic performance, a relentless focus on government and business efficiency, and world-class infrastructure. Since the government has set the goals, the citizens are following, and creating such a competitive environment in Singapore.
For example, the key success of the open economy in Singapore is the result of decades of committed economic policy and its openness to international capital and technology, investment-friendly policies and support for a competitive market. So they can sustain their economic growth and subsequent wealth. The impact of the competitive culture in Singapore is that the citizens are eager to start their career right from a young age or so called fresh graduates. They'd take other classes or courses since young, be it tutoring class, hire home or private tutor, take music class, or anything that supports their future career. On the other hand, the standards to be hired by top companies are not getting any lower. Job seekers is competing so they can work at the desired companies and get a high salary. To make it happen, they have to fulfill the qualifications through courses and experience. There is a chance that you will see your income rise if you bring your transferable skills to the highest paying industries in Singapore. As the number two busiest ports in the world after Shanghai, Singapore's high salary jobs are leaning toward professions that are related to information and technology, financial services, business and sales, transportation, leadership, and healthcare. This also hasn't changed even after the pandemic situation. For further, here are the top 20 highest paying jobs in Singapore in 2023.
1. Chief Financial Officer
Chief Financial Officer (CFO) refers to a senior executive responsible for planning, implementation, and managing the financial planning of a company. This also includes business planning, budgeting, forecasting, and negotiation. The CFO's main roles are obtaining and maintaining investor relations and partnership compliance.
To be qualified as CFO, you need to have a bachelor's degree in Accounting, Finance, or Economics. Master's degree is also desirable. A high paying job usually means that a certain level of education certification and experience is required. It's because this job tends to require employees with high level experience, cohesive ability at interpersonal and communication skills, both verbally and written. They also must be able to engage with staff at all levels of the organization and exercise sound judgment.Average pay: $300,000 per year
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2. HR Director
Human Resource (HR) Director's responsibilities are planning, leading, directing, developing, and coordinating the policies, activities, and staff of the HR department. They also ensure legal compliance and implementation of the organization's mission and talent strategy.
If you are interested in this profession, you will be required to have a bachelor's degree in Human Resources, Business Management, or Finance. Although it's possible to be hired as HR Director even though you are not graduating from the mentioned major. In this case, you'll need long experience and a good resume to attract the employer.
Average pay: $240,000 per year
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3. IT Cyber Security Manager or Specialist
Information and Technology (IT) as well as cyber security matters are important to all companies vary from middle to bigger scale. Companies hire managers or specialists to ensure the safety of their company's database, data, and overall that require the internet.
Cyber security specialist is responsible for providing security during the development stages of software systems, networks, and data centers. They'll have to find vulnerabilities and risks in hardware and software. While the cyber security manager monitors the channels through which information flows in and out of an organization's information network.
In general, you are required to have at least a bachelor's degree in Computer Science, IT, or Systems Engineering. However you can also study more specific majors if they are available and fit your purpose. Other than that, you can stick to the common major that is Computer Science.
Average pay: $190,000 per year
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4. Supply Chain and Logistics Specialist
Supply chain and logistics specialist is an integral part of the supply chain. They are masters of the middle because they oversee and ensure proper flow of the supply chain, the process from ordering materials all the way until product deliverance. Thus their responsibilities are coordinating the receiving of materials, ordering, and tracking inventory, sending shipments, facilitating billing and customer service, and other things.
This job requires the employee to be efficient, intelligent, and dynamic with their job. It's because they predominantly involves procuring materials, maintaining inventory, responding to demand, and processing orders. Lastly, the requirement to apply for this job is at least a high school diploma, and it's much better if you already have a bachelor's degree.
Average pay: $180,000 per year
5. Head of Global Sourcing
Global sourcing is a procurement strategy where a business buys goods and services from international markets to save money using cheap raw materials or skilled labor from low-cost countries. The head of global sourcing's roles are directing and overseeing global inventory supply management and purchasing.
69,7% of heads of global sourcing have bachelor's degree while 18,9% of them have master's degree. Higher education is most likely to be hired for this job and this job is not the entry-level type of job. People who apply for this job usually already have career experience in roles such as senior buyer or manager in their previous job.
Average pay: $180,000 per year
6. Regional Marketing Manager
High-paying jobs in Singapore number six is Regional Marketing Manager. Regional marketing managers usually work at large and multinational corporations. They usually get paid high. The high salary they receive is worth equally as their responsibilities and roles in the corporation.
They supervise the marketing team and analyze information about market trends in the coverage area. They are also required to network with local businesses and collaborate with the sales department to determine strategies to increase sales.
There are few majors you can choose if you are interested in becoming a regional marketing manager or other fields alike. You may choose business, finance, or other related fields. Other than regarding a degree, you also must have several years of experience working in this field.
Average pay: $180,000 per year
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7. Head of Marketing
Marketing itself is one of the promising fields in industries because they are needed in all industries. The bigger the company, the higher salary you'll get. Head of marketing is a position that gets the highest salary in the marketing field.
As the head of the marketing team, they are responsible for developing integrated strategy for the business. They are also responsible in marketing media and assets through promotion and events, using new and innovative marketing methods. Head of marketing is also known as marketing director.
The general qualifications to become a head of marketing are great leadership skills, good communication skills, and can work in a team. The major you can choose if you are interested in this field are Marketing, Advertising, or Communication Science.
Average pay: $160,000 per year
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8. Communication Director
Highest Paying jobs in singapore number eight is Communication Director. In general, the communication director determines the overall strategies of the specific projects under their supervision such as public relations or marketing campaigns. They ensure that all internal and external communications related to them align tightly with company goals.
The primary responsibilities of a communication director are drawing up communications plans with clearly defined objectives, key performance indicators, audience and timetables. Then drafting and reviewing written deliverables such as press releases, newsletters, and brochures. They also collaborate with public relation specialists, press secretaries, and other personnel across the communications department on projects.
Average pay: $160,000 per year
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9. Research and Development Director
People working as research and development directors carry out key business activities in the company. They are responsible for controlling, coordinating, and carrying out research in various company departments. They are also responsible for guaranteeing the continuous innovation of products and work processes.
Average pay: $150,000 per year
10. Nurse Manager
Highest paying jobs in singapore number ten is Nurse Manager. The nurses usually already have a decent salary. However the nurse manager or director is a position higher than the nurse staff. They are responsible for supervising the nursing staff in a hospital or clinic setting.
Sometimes they also do the nursing staff jobs such as overseeing patient care, but that task is not as dominant as the nursing staff. It's because the nurse managers are responsible to make management and budgetary decisions, set schedules, coordinate meetings, and make decisions about personnel.
Average pay: $110,000 per year
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11. Data or Network Engineer
The similarities of data and network engineer are their work is related to information and technology. Also, to apply for these jobs usually candidates are required to have at least bachelor degree in Computer Science.
Their responsibilities can be similar and slightly different depending on what the employer wants them to do. Data engineer's work is implementing methods to improve data reliability and quality. While a network engineer's work is setting up, developing, and maintaining computer networks within an organization or between organizations.
Average pay: $80,000 per year
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12. Project Manager
In the broadest sense, project managers are responsible for planning, organizing, and directing the completion of specific projects for an organization while ensuring these projects are on time, on budget, and within scope.
What makes this job interesting is you can apply for this job regardless of your major as long as the major you were in can fit to the field of the company you apply to. For example, you can apply to a company as project manager that focuses on arts if you have a degree in arts or literature science. However, generally, they want to hire people who have degrees in Computer Science and Business.
Average pay: $80,000 per year
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13. In-house Legal Counsel
In-house legal counsel or legal counsel or in-house lawyer is the type of job that carries out legal work directly for their employer, as opposed to law firm or private practice lawyers who earn money for their firm by working on behalf of multiple clients. In conclusion, they can be considered working independently and working by their own rules in terms of the schedules. They also work directly for a business or organization.
Their responsibilities are providing accurate, relevant, and timely advice to the employer and other members of staff on a variety of legal topics that relate to the business sector and their products or services. They also manage and mitigate legal risks by designing and implementing company policies and procedures. The only way to apply for this job is if you must have at least a bachelor's degree in Law.
Average pay: $14,000 per year
14. Securities and Finance Broker
Finance brokers operate as independent agents to facilitate the trading of commodities and arrange insurance and loans of money on behalf of clients. The formal qualification to apply for this job is majoring in Commerce, Accounting, Finance, Economics, or Actuarial Studies.
Generally, a broker's role is to sell securities and commodities directly to individual clients. But the securities broker's role is to advise customers who want to make financial investments. They arrange for the purchase or sale of stocks, bonds, and other securities on their customers' behalf. The formal qualification to become a securities broker is similar to a finance broker.
Average pay: $13,000 per year
15. Chief Information or Technology or Security Officer
Highest paying jobs in Singapore number 15 is Chief Information / Technology / Officer. The three positions require at least a bachelor's degree in Computer Science or other related fields. They are in charge of a company's information technology and computer systems.
Average pay: $13,000 per year
16. Advocate or Solicitor
Advocates are responsible for speaking on behalf of someone else in usually legal settings such as hearings and courtrooms. Solicitors also have the same responsibility. Both positions are responsible for providing legal advice and conducting legal proceedings. In order to apply for this job, you must have a degree in Law.
Average pay: $13,000 per year
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17. Audit Manager
An audit manager supervises the actions and practices of the auditors in an organization and to make sure the auditors follow the rules and regulations set by the organization. It means, the audit manager is in charge of leading a team of audits. They are usually hired from bachelor's degree in Accounting, Finance, or Business Administration as well as professional experience.
Average pay: $12,000 per year
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18. Specialist Medical Practitioner
The specialist's role is to diagnose and treat physical and mental illnesses and disorders using specialized testing and diagnostic, medical, and surgical techniques. That's why to be a specialist, you must go through a long formal education process and master your subjects.
Average pay: $12,000 per year
19. Physician
Highest Paying jobs number 19 is Physician. A physician's responsibilities are examining patients, taking medical histories, addressing patients' concerns, and answering patients' questions. In order to work as a physician, you must complete at least undergraduate studies such as bachelor's degree in medicine or surgery.
Average pay: $12,000 per year
20. Chief Operating Officer or General Manager
Highest Paying jobs in the last is Chief Operating Officer or General Manager. A general manager's job is improving efficiency and increasing departmental profits while managing the company's overall operations. Similar to the chief operating officer whose responsibility is to design and implement business operations. They also establish policies that promote company culture and vision, and oversee operations of the company and the work executives.
Average pay: $12,000 per year
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