As you move through your career, seeking out new opportunities, considering a change from one industry to another, one major question might be running through your mind: what are some of the highest paid positions in Singapore?
With our annual market research, we aim to answer that exact question, and we have compiled extensive data on salaries across Singapore in a variety of industries and jobs. We have summarized these results in our Annual Salary Guide. Here are some of the highest paying jobs and industries in Singapore in 2020.
C-Suite Level Jobs
Perhaps it’s no surprise that some of the jobs with the greatest responsibility also have the highest pay. For those in the C-suite: Chief Financial Officers, Chief Finance Officers, Chief Technology Officers, Chief Product Officers and others, salaries vary, but can be as high as S$800,000 per year, depending on the company and the industry. These jobs usually require highly skilled, experienced professionals in their career. Moving down from the c-suite, in other leadership positions such as heads of departments, professionals can expect to make anything from S$200,000 to $420,000 (Head of Sales).
Breaking the analysis down beyond the c-suite, here are a few of the fastest growing, highest paid industries, sectors, functions and the jobs within them.
Financial Services and Fintech
As a whole, the financial services and fintech industry has reported some of the highest salaries. Within the industry, if you’re looking for a new job, our research shows that professionals can expect a salary increase of 10-15% when they switch. Excellent C-Suite executives are high in demand and jobs such as Know Your Customer Analysts are currently among the top jobs in demand.
Jobs within compliance can get you anywhere from S$78,000 (Compliance Officer), all the way up to S$400,000 (Managing Director Compliance). For legal positions within this industry, professionals can expect to make anywhere from S$85,000 (Paralegal) up to $S360,000 (General Counsel).
Technology, Media and Telecommunications
As digital transformation becomes a priority for all organisations jobs in technology are understandably some of the highest paid in Singapore. When switching jobs, professionals have seen up to 15% increase in their salary. A Chief Executive Officer can make up to S$800,000 a year, while outside of the C-Suite heads of departments make the most, for example, within Finance Transformation, a job such as Head of Mergers and Acquisitions can make up to S$260,000 and Head of Tax, S$250,000. A job such as Director Digital Transformation can bring in up to S$204,000 per year and jobs such as Project Managers, Project Architects and Business Analysts earn the highest among this group.
Fast Moving Consumer Goods (FMCG)
Within the FMCG industry, professionals can expect a salary increase of 10-15% when they move into a new position. Within FMCG, a Chief Financial Officer can expect to make up to $400,000. Within Engineering and Manufacturing the jobs that are highest paid include Application Specialist ($200,000), Plant Manager ($260,000) and Regional Operations Managers ($300,000).
Highest paid jobs
These are the highest paid jobs in Singapore in 2020. As shown in the results, it pays to continue to work your way up, moving into industries that interest you and aim high when making career transitions.
This is a guest post by Michael Page.