You can—believe it or not—attain those goals if you know your way around the industries.
As the outlook of the job market in Singapore remains drab and employment growth is expected to stay flat amid continuous job retrenchments, it is safe to say that the ideas of job security and financial stability are at the back of most our minds.
Whether you’re a graduating student worried about procuring that first job or a working professional looking for a career progression, you can—believe it or not—still attain those goals if you know your way around the industries.
Extracted from Kelly Singapore’s 2016 Salary Guide, here are the top five paying jobs (with 10 years of experience or less) and industries that we expect will continue to reign throughout 2017.
1. FinTech Developer, Information Technology
Salary Range: S$7,500 – S$12,000
Singapore is home to more than 80 of the top 100 software and service companies, and a hub that continues to attract foreign companies in this sector with a robust intellectual property protection regime, state-of-the-art technology (we are ranked second as the most network-ready country), good trade connectivity and easy access to global talent.
Therefore, the hiring outlook in this industry remains positive with a projected strong growth, but the most well-paid position in this sector goes to the FinTech developers. FinTech, also know as financial technology, describes a business that aims at providing financial services by making use of software and modern technology.
With the unprecedented revolution of the internet and the proliferation of virtual banking and payment services, it is no wonder that the talents in this industry are so highly sought-after.
Getting ready for the interview:
It is not uncommon for interviewers to test your problem-solving skills by throwing in a coding challenge. Practice till it’s perfect over at Coderbyte.
2. Digital Marketing Manager, Sales & Marketing
Salary Range: S$6,000 – S$10,000
With an 82.5% internet penetration rate and a whopping 149.1% mobile penetration rate, digital marketing in Singapore is becoming more relevant than ever. Across the board, it is expected that most marketers will increase their digital marketing budget to 35% of their total marketing budget by 2026.
An increased dependence on digital marketing is also correlated to an increased dependence on data insights such as Google Analytics, allowing for more informed and strategic marketing decisions to be made. This means that the hiring outlook for marketers who are proficient with data analysis tools will be positively bright—and, taking on the role of a digital marketing manager is most likely to reel in a higher paycheck.
However, with great paycheck comes great responsibility. According to MediaBistro, the role of a digital marketing manager encompasses the development, implementation and management of marketing campaigns, the enhancement of brand awareness within the digital sphere and the acquirement of website traffic and leads.
Getting ready for the interview:
Know your vernacular. From SEO to CPC, you should know your marketing abbreviations like the back of your hand. In addition, always go prepared with the details of a most successful marketing campaign that you have run to impress.
3. Assistant Finance Manager/Finance Manager, Accounting
Salary Range: S$5,500 – S$9,000
When there’s a vision to develop and transform Singapore’s Accountancy sector into a leading global accountancy hub within the next three years, there is potential. This industry might be your safest bet for job security as public accountancy entities have the room to grow and develop by providing value-added specialised services, even in the midst of economic uncertainty.
Good news for those who are aspiring to be an assistant finance manager or a finance manager, as you will probably be one of the best paid among your peers. Not only will you be responsible for the financial health of an organisation, you will also have to produce financial reports, make the call for direct investment activities and develop strategies for long-term financial goals.
No matter the industry, finance is at the heart of every business. Therefore, a finance manager is indispensable and a linchpin to every organisation; the role is one that will be in perpetual demand.
Getting ready for the interview:
Expect fundamental accounting questions such as “How is it possible for a company to show positive net income but go bankrupt?” so make sure you revisit your basics.
4. Compliance Vice President, Banking & Finance
Salary Range: S$6,700 – S$17,000
Just last year, Singapore overtook Hong Kong to become the best financial hub in Asia. The Little Red Dot is a force to be reckoned with, continuing as a triple-A rated economy with over 700 financial institutes that provide a wide array of financial services.
Although a slower growth is expected amid global economic torpor, systemic support is strong and continuous development can be expected in the banking and finance industry as the Monetary Authority of Singapore commits funds to grow this sector. The seat of compliance vice president in this industry is a coveted one as it offers one of the most competitive salary range, but requires no more than 10 years of experience to get there.
Compliance vice presidents ensure that their organisation is conducting its business in full compliance with all national and international financial laws and regulations, as well as professional standards, accepted business practices, and internal standards. Ultimately, their primary role lies in minimising financial risks so that profits are maximised by maintaining a positive reputation and avoiding lawsuits.
Getting ready for the interview:
Be ethical. One of the most common questions goes something like this: “If a C-suite executive directly or indirectly asked you to overlook a violation of company policy, how would you react?”
5. Quality Lead/Manager, Healthcare & Life Sciences
Salary Range: S$6,000 – S$10,000
A growing population and rising wealth have contributed to an increase in demand for healthcare across Singapore and Southeast Asia. As such, Singapore, which is home to over 30 of the world’s leading biomedical sciences companies, is planning to invest $19 billion to support local R&D efforts for the next five years.
With a simultaneous surge in biomedical start-up firms, the sector’s rapid development and growth in Singapore indicate that there’s an ongoing demand for such skills, and fresh talents are being scoped to fuel the industry.
Fresh graduates seeking a job in this industry will be able to put their mind at ease and focus on working towards a promising career as a quality lead/manager. Duties include overseeing a spectrum of quality-related activities, managing non-conformance issues and ensuring compliance with quality guidelines and standards.
Getting ready for the interview:
You will most likely be assessed by your attention to details, therefore, be thoughtful with the way you groom yourself for the interview (be neat!) and go the extra mile to ascertain that your cover letter and resume are error-free.
