A look at the highest-paying jobs in Singapore
If you are looking for a new job in Singapore, now is a great time to start searching. Studies show that Singapore's job market is getting bigger and better in 2024, thanks to a strong economy and many new jobs in different areas.
With high living costs in Singapore, finding a job that pays well is important for living comfortably. Good-paying jobs help you take care of your bills and have some fun too.
When thinking about jobs that pay a lot, finding work that makes you happy and keeps you interested is also key. This way, you can enjoy your job and keep doing well in your career.
We will look at some of the best-paying jobs in Singapore, focusing on areas like technology, healthcare, and business. Knowing which jobs pay well can help you decide what work you want.
Here is what you will learn:
- Highest-paying jobs in Singapore
- Highest-paying jobs in Singapore that don't require a degree
- Wrapping up
- FAQs
Highest-paying jobs in the Singapore
The top high-paying jobs in Singapore span various industries, particularly technology, marketing, and services, reflecting the city-state's diverse and advanced economy.
The list of the highest-paying jobs includes:
1. Managing Directors
Managing Directors are the strategic heads responsible for the organisation's overall direction, profitability, and growth. They oversee operations, set strategic goals, and ensure the company's financial health and regulatory compliance.
To become a Managing Director, you typically need a Master's degree in Business Administration (MBA) and extensive experience in your respective industry. Progression in the field often involves climbing the corporate ladder through various senior roles. Demonstrating leadership, strategic thinking, and a strong track record in financial management can enhance your chances of reaching this executive level.
Managing directors typically earn an average salary of around S$295,000. It is often complemented by bonuses, stock options, and premium healthcare benefits. These financial incentives reflect the high responsibility and expertise required for the role.
2. Chief Information Security Officer
Chief Information Security Officers (CISOs) are responsible for protecting the organisation's information from cyber threats and ensuring compliance with data protection laws. They develop security strategies to safeguard digital assets.
To become a CISO, you must have a strong foundation in IT or cybersecurity. Certifications like CISSP or CISM can enhance your qualifications along with an experience in leadership roles within information security.
As a CISO, you can expect an average salary of around S$200,000 per year, reflecting the importance of securing organisational digital assets.
In addition to competitive salaries, CISOs often receive many benefits. These include bonus payouts, professional development allowances, and access to executive health and retirement packages.
3. Director of Global Sourcing
A Director of Global Sourcing plays a pivotal role in managing and strategizing an organisation's procurement of goods and services from international markets.
To become one, you need a bachelor's degree in either business, supply chain management, or a related field. Along with this, extensive experience in sourcing or procurement and a solid understanding of global market trends, is typically required. Advanced degrees or certifications in supply chain management can be advantageous.
The average salary for this role is around S$210,000. Additional benefits include performance bonuses, travel opportunities, and professional development allowances.
Becoming a Director of Global Sourcing involves progressing through various procurement and supply chain management roles. It requires a keen insight into global market dynamics, as well as the development of strong negotiation and strategic planning skills to excel in the role.
4. Marketing Director
A Marketing Director focuses on increasing sales and enhancing brand awareness through various marketing strategies. These include overseeing advertising, brand management, and market research.
To become one, you should have a bachelor's degree in marketing, business, or a related field. Additionally, having an MBA can be beneficial. Significant experience in marketing or related areas is also necessary.
They typically earn around S$167,000, with additional perks such as bonuses, equity in some companies, and opportunities for professional development.
Advancing to this position involves progressing through various marketing roles, consistently implementing innovative strategies, and demonstrating leadership qualities.
5. Business Development Manager
Business Development Managers are responsible for planning and implementing strategies to expand a company's market presence and drive business growth.
To enter this career, you need a bachelor's degree in business administration, marketing, or a related field. It is also important to have proven experience in sales, marketing, or business development.
You can expect an average salary package of around S$70,000 per year as a Business Development Manager. Additional benefits include healthcare, retirement plans, and opportunities for professional development.
Advancing in the field of business development involves gaining experience across various market sectors, improving negotiation skills, and achieving success in establishing profitable partnerships and customer relationships.
Highest-paying jobs in Singapore that don't require a degree
Now that we have explored the highest-paying jobs in Singapore that require a degree, let us take a look at another set of careers. These are the highest-paying jobs in Singapore that do not require a degree. Despite not needing a college education, these jobs offer competitive salaries and promising career paths.
Let us dive in to see what these opportunities have to offer.
1. Commercial Diver
Commercial Divers engage in specialised underwater work, including inspection, repair, and construction across various sectors. The profession requires professional diving certification and a robust physical constitution, often necessitating travel for diverse assignments.
Earnings are significant, with the possibility of making around S$ 94,566 a year, especially for those undertaking overseas projects, reflecting the job's demanding and hazardous nature.
If you aspire to become a commercial diver you must master technical diving skills, physical endurance, and adeptness at handling challenges in extreme conditions.
2. Financial Advisor
Financial advisers provide guidance to clients on finances, including investment, insurance, and tax strategies. They help individuals manage their money to meet personal financial goals, offering tailored advice based on client's financial situations and future aspirations.
To become a financial adviser in Singapore, you must pass specific modules from the Capital Markets and Financial Advisory Services Examination (CMFAS Exam). Although a degree is not mandatory, having one in finance or a related field may enhance your understanding and credibility.
The essential qualifications include:
- GCE 'A' Level certificate with passes in at least three H2 and two H1 subjects, or
- An International Baccalaureate (IB) diploma, or
- A polytechnic diploma in Singapore.
After meeting the educational prerequisites, you must pass modules 5 to 9A of the CMFAS Exam to demonstrate competency in financial planning and regulations.
Financial advisors typically earn S$3,000 to S$5,000 per month can vary significantly based on factors such as experience, the volume of business generated, the complexity of financial products advised, and the compensation structure of their employment (e.g., salary plus commission versus commission-only).
Successful financial advisers must have good analytical, communication, integrity, trustworthiness, sales, and problem-solving skills.
3. Automotive Mechanics
Automotive Mechanics play a critical role in diagnosing, fixing, and maintaining vehicles, with a shift towards understanding mechanical and electronic systems due to advancements in vehicle technology.
To become an Automotive Mechanic, you do not need a formal degree. You must instead prioritise on getting vocational training, certifications, and hands-on experience in the field.
Starting salaries for automotive mechanics are around S$2,600 monthly. Seasoned mechanics earn about $5,000 or more per month. Success as a mechanic is driven by a deep understanding of automotive systems, continuous learning to keep pace with new technologies, and the ability to diagnose and solve complex problems efficiently.
Wrapping up
There are numerous jobs in Singapore offering competitive salaries, and having a degree is not always necessary to earn a good living. When navigating your career path in Singapore, weighing your interests and long-term goals is crucial.
Choosing a job that matches your passion and values can lead to greater job satisfaction and fulfilment. After landing your ideal position, staying adaptable and responsive to its evolving requirements is important. Keeping abreast of the latest trends in Singapore's job market and committing to continuous learning are key steps to ensuring your career continues to thrive.
FAQs
The following is a list of questions that job seekers frequently ask about the highest-paid jobs in the Singaporean job market:
- How can I find high-paying jobs in Singapore?
The best way to find a high-paying job is to use JobStreet's job search tool. Click on “More options” to select your desired salary range before submitting your search request. - What is the highest-paying job in the world?
Global Immigration Services' list of the top 25 highest-paying jobs in the world ranks CEO first. On average, a CEO earns an annual salary of $247,812. - What do I need for high-paying jobs?
Most of the highest-paying jobs require a bachelor's degree, but some only need a diploma or certification. - Are there high-paying jobs that don't require a college degree?
Yes. Some examples include financial advisors, commercial divers, and automotive mechanics. - How can I develop the skills needed for high-paying jobs?
Find the required skills once you decide which high-paying job to pursue. For example, financial analysis, data analytics, or leadership skills can help you excel in your chosen job. You can develop those skills by taking an online course, joining a professional association, and pursuing continuous education.
