Moving to Singapore for work is one of the most attractive prospects for young people these days. However, before we take a look at the best paying jobs in Singapore, we should start off by noting the extreme costs of living here—transport, facilities, and housing are among the highest in the world.
However, if you’ve landed a good job which has benefits that take care of all these costs for you, then you’re in a good place to start. So if you get one of the jobs from this list, you’re sorted for life!
1. CEO (Chief Executive Officer)
Monthly Salary: $32,800
The CEO of a company is the head and big boss of the company. He / She is in charge of creating the long term strategic goals, and ensuring that the company is continuously making progress towards them. Their responsibilities also include acting as an intermediary between the investors and the boards of Directors, and playing lots of golf.
Most CEOs have an MBA and studied in a foreign university, and rose through the ranks of the company over many years, working harder and smarter than all their competitors. Or they can be hired from an external source to come in, especially when the company is in dire straits.
Due to the fact they are the face and most powerful member of the company, it is the most sought after position in any company, and all the employees strive work very hard to get ahead of each other in a continuous game of “King of the Hill”.
2. Specialized Surgeon
Monthly Salary: $32, 713
Ah yes, this is what all those all-nighters, skipping out on parties, was for. Some of the better paying specializations include:
Specialized surgeons, just as the title suggests, are people who very specialized in one field of medicine. They are quite rare and hard to find, and as the rules for supply and demand go, they are thus extremely valuable. And their pay reflects that. Two examples of this field are:
Orthodontist
The word orthodontic comes from the Greek words orthos- meaning straight, and odont- meaning teeth.
So as you can probably surmise from the words, an Orthodontist is a special kind of dentist who specializes in fixing the superficial aspects of teeth. As you know, people really value their smiles. If you have ever struggle with a bad smile, you know first hand how badly people are hurt by this. Many of them are willing to pay huge amounts of cash to fix the issue. So they are the ones responsible for putting on braces.
Cardiologist
Cardiologists specialize in treating and managing all illnesses relating to the heart. Though technically they aren’t surgeons, as cardiologists are mainly involved mainly in testing and other procedures, while cardiac-surgeons are responsible for doing the actual surgery. No matter though, they are still extremely important as there are few people who don’t enjoy living with their hearts, and doing so makes them extremely valuable.
3. Forex Broker
Monthly Salary: 21,667
Forex trading is basically exchanging one currency for another. Brokers make their money by charging a commission on the difference that they sell each currency for.
For example, they can buy euros for 1.5475 U.S. dollars and, at the same time, be selling euros for 1.5478 U.S. dollars. The difference in this case is $0.0003, and the broker will make a percentage off that. It doesn’t seem like much, but when you’re dealing with millions (or even billions) of dollars each day, the money stacks up.
This is a really oversimplified explanation. There is a lot of maths, laws and taxes that they have to keep in mind whenever they are doing their work.
4. Lawyer
Monthly Salary: 17,667
Lawyers must go through many arduous years of study to become properly qualified. But all the sacrifices and effort is worth it in the end! Especially when they finally get employed and get paid an average salary of $18000.
To become a lawyer in Singapore, you need to first study for four years to obtain a Bachelor’s degree in Law with a GPA of at least 3.0. After taking the course, you’ll need to pass the Singapore Bar Exam. If you are not from Singapore, but want to become an expert in Singaporean law, you must pass the foreign practitioner Examinations.
There are of course different variations of lawyers, and not all are equally paid. Some lawyers deal with extremely rich clients. Or even corporations who can afford to pay hundreds of times what normal people are even able to. Thus high profile divorce lawyers, corporate lawyers and other specialized lawyers can get salaries reaching well into six figures every month.
5. University Lecturer
Monthly salary: $15,000
One of the most important sectors in Singapore is education. And the government spending in Singapore makes up about 20% of the annual budget. With such a high emphasis place on education, you can see why lecturers salary is so much.
As you can imagine, the minimum requirements to become a University lecturers are extremely high. Especially since they are in charge of overseeing the education for hundreds of students. You’ll need at least a master’s degree! But a PHD will definitely improve your chances of getting a good position and better pay. In addition to this, you’ll also need to have plenty of work experience. Maybe even a few years’ worth, in a relevant field before you can get to become a lecturer.
6. Physician
Monthly Salary: $11,000
Physicians are doctors who do not specialize in any specific area of medicine, but offer general medical support. They spend around 8 to 10 years in training and residency in hospital. But their salaries are still lower than their specialized counterparts. In spite of this, they are still one of the top ten highest paid professions in Singapore.
So as you can see here these are the highest paid professions. But there are plenty more! And if you didn’t see your dream career on this list, don’t worry, these figures are only averages.
Are you currently holding onto one of these jobs? If yes, then lucky you! You are able to secure a safe and comfortable life for yourself and your family. Plus any medical emergency will not cause you any panic because you will have a large amount of savings. Going overseas for a family trip can be easily done as well.
However, if you are unable to secure such a lifestyle for you and your family, do you at least have spare cash set aside for emergencies? Daily expenses and family commitments will cause a big drain in your income. With that said, you should always have money set aside from your jobs. If you do not and require cash now, let us know. Legal Loan Singapore is here to help you solve your cash problems.
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