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The highest paying jobs in Singapore for 2020
2020 has been a challenging year for both businesses and professionals. The unexpected global pandemic has caused the global economy, and in line with that, the economy and jobs in Singapore to take a hit. However, it’s not all bad news. Companies and people are starting to look towards recovery, focusing on how to get back on track. And some industries are still on track for growth in 2020, with opportunities for job seekers following their current career path or those changing industries. Additionally, top talent in any industry can still expect to earn a solid paycheck for the complex work that they do. So what are the top 10 highest paying jobs in Singapore in 2020?
The following is a list of 10 of them. Generally speaking, reaching the level of Head of any department, whether that’s Tax, Finance, Investment, HR or Marketing can definitely have its monetary benefits. But we see that the highest salaries are coming from the industries that are in a period of growth and expansion in Singapore. These companies are looking to attract top talent - and are more than willing to pay the high salary that comes along with that.
1. C-suite roles with ASEAN responsibilities
Across industries, as you may expect, C-suite salaries, particularly in regional positions with ASEAN responsibilities come in at the top of the highest paid jobs lists. Chief Executive Officers, Chief Operating Officers and Chief Financial Officers in Singapore make anywhere from SG$300,000 to $650,000 depending on the company and industry. As Singapore is a hub for many companies with complex operations across APAC, C-suite professionals here usually have big responsibilities - that come with a big paycheck.
2. Head of Private Equity/Venture Capital
Within Finance and Investments, the role of Head of PE/VC can expect a salary of up to SG$620,000. The high growth opportunities within PE and even more so within VC, contribute to professionals within these types of roles being able to command a high salary. However, with that salary, they are taking some risk, as these industries can be more volatile than other areas of investment banking.
3. R&D Director
In Singapore, technology, healthcare and life sciences and engineering and manufacturing are all fast growing industries. As Research and Development is a big part of those industries, and attracts large amounts of investment, professionals with this specialty can command a high salary. Heading up the R&D department as R&D Director can get you up to SG$260,000 across industries, according to our market research.
4. HR Director
Human Resources as a function is in a stage of transformation - moving from an admin heavy, support service to becoming more of a business partner as companies prioritise employee engagement and recognise the absolute importance of a strong HR strategy. Innovative, talented HR Directors are in high demand - and can expect to make anywhere from SG$240,000 to SG$310,000 depending on the industry and company.
5. General counsel (in-house lawyer)
For companies that choose to keep an in-house legal team, an in-house General Counsel lawyer can make up to SG$350,000. Aside from the high salaries, the law industry in Singapore is making efforts to rapidly become a thriving legal tech hub, making investments in legal technology and leading the charge for innovation in law.
6. Head of IT
Having strong technology and digital capabilities is a clear competitive advantage for all companies, and along with that comes the need for a robust and capable IT department. Professionals in IT are in high demand and for those at the level of Head of IT, expect to make anywhere from SG$300,000 to SG$360,000.
7. Investment Banking Director/Head of Investment Banking
There is a lot of money in Investment Banking and this is reflected in salaries across the industry and at all levels of seniority. For those who make it up to the level of Director or department Head, salaries range from SG$375,000 to SG$450,000.
8. Head of Sales
Professionals in the Sales industry have always commanded high salaries - at least those who are good at what they do. As the Sales department is so directly tied to revenue, a Head of Sales can expect to earn up to SG$420,000. While the Sales function is undergoing a good amount of change in the future of work, especially in terms of digitalisation and automation, this will always be a role that relies heavily on the human touch and the soft skills that professionals bring to the table.
9. Head of Compliance
This is an important role as we move into the future of work, as the globalised economy makes managing rules and regulations all the more complex. A Head of Compliance in Singapore, who will need to have vast knowledge about compliance in many countries in the region, can make up to SG$350,000.
10. Digital Transformation Specialist
Digital transformation is no longer something that companies can put off - the need to digitalise is here and it’s urgent. As such, a Digital Transformation Specialist in Singapore can earn up to SG$300,000, considering the value they can add to a business, especially those at the beginning stages of adopting digital practices.
These are just 10 of the top paid roles in Singapore, for more, download our 2020 salary guide.
Ready for a new role on your way to the top? See our job openings in Singapore.