With a per capita GDP of $65,233 USD, Singapore is among the most successful countries in the world. The economic freedom score of Singapore is 89.4, making it the world’s freest economy. The socio-political environment and the economy are strong enough that it attracts job-seekers from all over the world.
The upper 10% of taxpayers in Singapore earn about $200,000 USD per year making jobs in this bracket some of the best paid jobs in Singapore. You do not have to run a business to have a six-figure yearly income. You can work a job and still earn this much in Singapore. If you decide to work here, you will find some of the world’s highest paying jobs in Singapore.
Let us take a look at the average salaries of the highest paying industries in Singapore.
- The average monthly salary for someone with a C-Suite job is about $45,000 USD.
- If you work in the field of Accounting and Finance, you can earn an average salary of $27,000 USD per month in Singapore.
- The average salary for a specialist medical practitioner in Singapore is about $22,000 USD, whereas the average salary for a general practitioner is about $19,000 USD per month.
- The average monthly salary for lawyers is about $25,000 USD.
- Security or finance dealers earn about $17,000 USD per month.
- The average monthly salary for university lecturers is about $16,000 USD.
- A foreign exchange dealer can earn up to $21,000 USD monthly.
Now you might ask, “What is the #1 highest paid position?” Our answer to that is any job with C-Suite roles will be at the top of the list of highest paying jobs in Singapore
1. C-Suite Executives
The highest paying jobs in Singapore are c-suite roles, as they come with the most responsibility. Chief Executive Officers, Chief Financial Officers, and Chief Operating Officers have an annual income of SG$350,000 to $650,000 in Singapore.
The salary varies from industry to industry, but the average annual salary stays in six figures. Due to its strong economy, Singapore is home to many companies with complex operations that are supervised by c-suite professionals, who in turn earn big paychecks. C-suite roles are considered among the best paid jobs in Singapore.
2. Research & Development Director
Industries like technology, healthcare, life sciences, and engineering are all growing rapidly in Singapore. Research and development is a major part of these industries and proper research can attract large investments.
So, if you are somebody who is working as a research and development director in Singapore, you can bag an annual salary of SG$260,000.
3. HR Director
The field of human resources is growing and changing at the same time. It went from a support service to a business partner as more and more companies realize the importance of a good HR strategy for employee engagement.
Depending on the industry and company, HR Directors in Singapore make anywhere between SG$240,000 to SG$310,000 per year.
4. General Counsel (In-House Lawyer)
Every company needs a legal team for its legal matters. Some companies decide to keep an in-house legal team.
Working as an in-house General Counsel Lawyer in Singapore, you can earn up to SG$350,000 per year.
5. Head of IT
Everything these days is becoming automated and with this comes the need of having a capable IT department in every industry.
IT professionals are in high demand these days and someone who works as the Head of IT department can make up to SG$360,000 per year in Singapore.
6. Investment Banking Director
There is a lot of cash in the field of investment banking and this is expressed in wages across the industry. For someone working at the level of a director in this field, salaries are more than enough.
You could make SG$375,000 to SG$450,000 per year in Singapore working as an investment banking director.
7. Head of Sales
People working in the sales industry have always commanded high pay at least for those who are good at what they do. The sales department is directly related to generating revenue, the wages are also good in this sector.
Someone working as head of sales can earn up to SG$420,000. Even though the sales department is undergoing huge changes as automation takes hold and everything goes online, human skills will remain a key part of this industry.
8. Head of Compliance
As we progress towards a globalized economy, this role gains more and more importance in big firms and industries.
Somebody who has a vast knowledge of compliance rules about the neighboring countries in the region could work as the head of compliance and earn up to SG$350,000.
9. Digital Transformation Specialist
Technology is taking over the world and companies are realizing that they can no longer put off the process of digital transformation if they are to compete with anyone.
A digital transformation specialist can earn up to SG$300,000 in Singapore, as they can add a lot of value to the business.
10. Regional Marketing Director
Marketing has a huge impact on the success and failure of a company or product. Marketing strategies are the difference between a company staying in business or going bankrupt.
If you have the proper qualifications and get to the position of a regional marketing director in Singapore, you can earn up to SG$250,000 yearly.
11. General Manager
The position of a general manager is significant, and it requires supervising almost all the functions of a company or firm. The general manager acts as the day-to-day director of an organization.
Working as a General Manager in Singapore you can make up to SG$250,000-SG$300,000 depending on the industry you are working in.
12. Specialist Medical Practitioner
A specialist medical practitioner working in Singapore can make up to SG$300,000- SG$350,000.
It is their knowledge, expertise, and qualifications that provide them with this rewarding salary. Becoming a medical specialist is not at all easy. This includes at least five years of medical school and one year of hospital residency. As Singapore is renowned because of its advanced medical health care infrastructure for providing some of the best hospitals in the world, it is no wonder doctors are highly compensated.
13. General Practitioner / Physician
In recent years, Singapore has turned towards preventive and community treatment to meet the requirements of a rapidly aging population. General practitioners are the first line of defense and there has been an increased focus on training good general practitioners in Singapore.
You can earn up to SG$ 220,000-SG$250,000 working as a general practitioner in Singapore.
14. Trade & Ship Broker
Shipbrokers work as middlemen and they facilitate those with cargo to find transport and carry their goods. They also sell and buy ships for their clients. Smart communication skills are required, as a lot of client interaction is seen in the work. Due to the numerous time zones and fast turnaround time, this role can also have long and erratic working hours.
Somebody working as a ship broker in Singapore can make up to SG$200,000.
15. Foreign Exchange Dealer
Singapore has a strong economy and plans on staying ahead in the economical race. You will find at least 1 finance related role in the 5 best paid jobs in Singapore. Singapore has an immense foreign currency reserve and is of great value to Singapore’s national economy. The Singaporean dollar is also gaining more and more recognition.
By working as a foreign exchange dealer, you can make up to SG$180,000 in Singapore.
16. University Lecturer
The education sector of Singapore is also blooming and the main reason for that is the hiring of highly capable staff. University lecturers are selected based on their knowledge and experience.
Somebody working as a university lecturer in Singapore can make up to SG$180,000 annually.
17. Finance Dealer / Broker
The job of a finance dealer or broker is to buy and sell stocks on behalf of their client.
Finance dealers / brokers in Singapore can expect to make anywhere between SG$120,000 per year.
18. Treasury Manager
A Treasury manager is someone who is in charge of an organization’s financial assets. They keep an eye on the corporate liquidity, finances, and risk management of their company, ensuring that it stays financially solvent.
Someone working as a treasury manager can bag up to SG$120,000 in Singapore.
19. Financial & Insurance Services Manager
Financial managers are paid by banks or insurance firms. They allow executives to make decisions about their finances. They must be rational, objective, and have excellent communication skills. They must provide the pros and cons of every decision an executive is going to make.
Their yearly salary is about SG$110,000 in Singapore.
20. Risk Analyst
Risk analysts track internal, external, and emerging risk factors related to the various business segments of their organizations. Strong analytical skills, research skills, and a keen eye for detail are required for this role.
You can make up to SG$100,00 working as a risk analyst in Singapore.
Top 5 Highest Paying Industries in Singapore
Now let us discuss some of the highest paying industries in Singapore.
Although it may seem dull to work with numbers, these experts cash out more money than you even know. Accounting is one of the highest paying industries in Singapore.
- Somebody working as Chief Financial Officer can take home up to SG$25,000 per month.
- Finance Directors working in the field of accounting can earn up to SG$20,000 monthly.
- Somebody working as a finance controller can earn up to SG$18,000 as a monthly salary.
👉 Browse Accounting Jobs on GrabJobs
The professionals in this field may not be the top earners in some countries, but that is not the case in Singapore. And there is a reason for this: With many businesses choosing to list in the country, Singapore has a robust liquid and capital market.
- Working as a Chief Financial Officer, you can make SG$25,000 per month.
- Finance directors in the banking sector can make up to SG$20,000 monthly.
- Regional directors regularly earn up to SG$19,000 per month.
👉 Browse Banking & Finance Jobs on GrabJobs
The field of information technology is one of the highest paid industries in Singapore. The world is racing towards automation. Countries are paying tech professionals lucrative salaries to keep them working for themselves. The Tech industry is booming in Singapore and tech experts working here are earning more than you can imagine.
- Chief Technology Officer can earn up to SG$20,000 per month.
- IT directors in Singapore earn SG$15,000 monthly.
- Working as an IT senior manager, you can earn up to SG$13,000 in Singapore.
👉 Browse IT Jobs on GrabJobs
The regional role of Singapore as a major commercial and financial zone with a strong rule of law fuels its goal of becoming a global negotiation hub. Lawyers earn worth boasting salaries in Singapore.
- A General Counsel can earn up to SG$20,000.
- Someone working as a legal counsel can earn up to SG$16,000.
👉 Browse Legal Jobs on GrabJobs
The sales industry has the most important role in generating revenue. These jobs are among the highest paying jobs in Singapore.
- A General Manager in the sales industry can earn up to SG$20,000 a month.
- Business development directors in the field make SG$15,000 monthly.
- Business development managers can earn up to SG$13,000 per month in Singapore.
👉 Browse Sales Jobs on GrabJobs
Top 5 Highest Paying Jobs in Singapore for New Graduates
Let’s take a look at the highest paying jobs in Singapore for fresh graduates that do not require decades of work experience.
The field of IT is at the top of the highest paying jobs in Singapore for fresh graduates. An entry level computer and IT executive earned an average of $3,221 per month in 2019, according to the latest JobStreet salary report, which is an increase of 13 percent compared to 2018. The field of IT is the best to start earning high for new graduates.
You need a bachelor’s degree in an IT related discipline and a strong command of a computer language to find a job in this field.
👉 Browse IT Jobs on GrabJobs
Healthcare workers are one of the top three highest paid entry level specializations, with an average of $3,005 per month, deserving of all credit recognition, especially during these difficult times.
A Bachelor’s Degree in Nursing, a passion for helping others in need, and impeccable organizational abilities are all you need to kickstart your career in healthcare.
👉 Browse Healthcare Jobs on GrabJobs
Accounting and finance positions continue to see an upward trend for recent graduates, with a monthly average salary of $2,977 in 2019, a 12 percent rise compared to 2018.
In addition to getting a degree in Accountancy / Finance / Business, this sector is for you if you have a great capacity to multitask and excel under pressure.
👉 Browse Accounting & Finance Jobs on GrabJobs
Fresh graduates working in the field of Education and Training can expect salaries up to $2,500. As the Singaporean government plans to increase its expenditure in the education sector, many golden opportunities are expected come your way.
You will start earning in the field of education and training if you are passionate about educating children and have outstanding interpersonal and communication skills and have an early childhood education certificate. We know that this is a lot to ask but if you are the perfect fit for this requirement then you will be the one to lead the future generation to their goals and dreams.
👉 Browse Education & Training Jobs on GrabJobs
Engineers are vital as they play important roles in many fields ranging from technology to construction, and from biotechnology to industrial machinery. Engineers usually are the leaders in innovating new technologies. New graduates in the field of engineering can start their career with a lucrative pay of about $2,700 per month.
Apart from choosing an Engineering degree just based on its potential salary, if you are highly organized and pay attention to details then this field is the right one for you to explore.
👉 Browse Engineering Jobs on GrabJobs
What Degree Pays the Most?
We have gone through the highest paying jobs in Singapore for new graduates. Now let us take a look at the table below to determine what degree pays the most.
Potential Monthly Salary
Bachelor of Social Sciences
Bachelor of Dental Surgery
Bachelor of Engineering (Chemical Engineering)
Bachelor of Engineering (Civil Engineering)
Bachelor of Engineering (Electrical Engineering)
Bachelor of Laws
Bachelor of Science
Bachelor of Science (Pharmacy)
Bachelor of Business Administration
Bachelor of Computing (Computer Science)
Bachelor of Arts (Architecture)
Bachelor of Medicine and Bachelor of Surgery
Bachelor of Environmental Studies
The job market for new graduates is promising for people with the right mindset and the right skills. As for the professionals looking to change industries, the list provided in the article is filled with lots of potential options for high earnings. It is never to late to make a change.
As for the professionals who already work in one of these sought-after industries, after reading this article, you now know how valuable your skills are in Singapore.