Finance posts dominate highest paying jobs in Singapore

A finance controller takes home up to $15,000 a month.

For a costly city like Singapore, every day is a battle of the fittest. For the fourth consecutive row, Singapore remained at the top of the most expensive cities to live in, dominating more than 130 cities in the survey conducted by a British firm, the Economist Intelligence Unit.

Whilst Singapore remains expensive, job seekers are scrambling to find and take on the highest paying jobs in the city-state to keep up with the rising cost of commodities.

This infographic from Cash Mart Singapore shows that most of the high-paying jobs in Singapore are in the finance sector. For instance, a finance controller can earn as much as $15,000 a month, whilst a finance compliance manager can take home up to $10,000 monthly.

In an interview, Cash Mart Singapore credit verification officer William Lee said Singapore's economy continues to be triple-A rated, and this is one factor that contributed to finance jobs being the highest paying ones.

"In fact, more than 200 banks have headquarters in the country, with total assets estimating to at least $2t. This makes Singapore a financial centre, and it's currently ranked as third in the Global Financial Centres Index," he noted.

More so, the Singapore government also pushes the country as the finance technology hub in Asia Pacific, with the Central Bank of Singapore allotting over $200m for the development of fintech products. Fintech developers earn from $7,500 to $12,000 monthly, according to the infographic.

Lee said demand for demand for finance professionals will remain competitive. However, he noted that it will be a challenge to fill these job posts due to candidate shortages.

"More so, if there's specific skill sets required such as strong communication skills and stakeholder management capabilities," he said, noting that communication skills are a must for professionals willing to take on key business partner roles.

Lee said job seekers wanting to take on finance roles must be always in-the-know of the latest development in the finance sector and its regulations.

"Having an insight of what may happen in the finance industry three to five years from now is something that can help companies get ahead of the game. Lastly, join platforms like the CFA Society Singapore. They feature employment openings, and brings together investment and fund management practitioners," he said.