Doctors have highest fresh grad pay in Singapore

PHOTO: Doctors have highest fresh grad pay in Singapore

SINGAPORE - Doctors command the highest fresh graduate pay in Singapore, a study by JobStreet has found.

With an average starting pay of $3,095, entry-level doctors earn slightly more than the fresh graduates in corporate finance, which offers the fourth highest starting pay of $2,959.

Highest paying jobs in Singapore in 2013

While doctors earned the highest salaries in the first few years of the job, corporate finance workers climbed to second place at management level, garnering an average of $7,305 a month in basic salary.

The JobStreet study held from January to the end of September this year also found that people in legal services earned the most at senior management level.

The human resources website said that people in the field of banking and finance, audit, actuarial science, financial sales, biotechnology and laboratory are expected to continue receiving generally good salaries this year.

Fresh Graduates

Based on the average salary of all specializations posted by employers on JobStreet.com from January 1 - September 31, fresh graduates can expect to earn $2,300 per month. For those aspiring towards a career in medicine, doctors can fetch a high average starting salary of $3,095. Research scientists (biotechnology) earn nearly the same with an average starting salary of of $3,082. Take note that these are just basic salaries posted, and do not include any forms of compensation such as leave credits, medical benefits, insurance and incentives

Average salaries for diploma, Bachelor degree and Master degree graduates 2013

Junior Executives (1-4years of experience)

For candidates and employees with 1-4 years of experience and a love for numbers, making the appropriate career choice can compensate you well monetarily. Most specializations in the list of Top 10 Highest Paying Jobs for employees with 1-4 years of experience are in the finance fields. This includes Actuarial Science, Corporate Finance, Audit and Banking Services.

The average salaries of employees with 1-4 years of experience range from $2,329 (Personal Care Services) to $3,722 (Doctor), with the overall median being $2800.

Senior Executive (five years and above of experience)

Generally, the finance sector pays well for candidates or employees who have more than 5 years of relevant experience. Candidates or employees specialising in banking services get paid up to $10,000. Those in the field of Actuarial Science get paid up to $9,500 while those in Corporate Finance get paid up to $9,200.

Candidates or employees in the Banking and Finance, Actuarial Science, Audit and Legal Services with 5 years of experience or more can expect to receive an average monthly wage of above $4,500 per month.

Managers

Managers in the Science and Technical sector lead in drawing the highest pay with Chemists earning the highest average salary of $9,096 per month. Laboratory Scientists, Software Engineers, Electrical Engineers and Chemical Engineers are all compensated very well, with an average salary of more than $6,000 per month. Managers specialising in engineering are paid up to $21,000 per month.

Senior Managers

Senior Managers have a lot of responsibility, but are compensated accordingly. The average monthly wage of a Senior Manager is $8,650 a month.

Senior Managers in Legal Services and Top Management, however, are paid well above average, drawing a monthly pay of $14,466 and $11,887 respectively. At his prime, a senior lawyer can earn up to $55,000 a month.

Salary Trend for 2013

Most jobs that made it to the list lean towards the science, finance and engineering sectors.

Candidates in the field of Banking and Finance, Audit, Actuarial Science, Financial Sales Services, Biotechnology and Laboratory are generally compensated well. Similarly, engineers who are specialised in the fields of Electrical, Software, Chemical and Environment are also compensated well.

Based on the average salary of all specializations posted by employers on JobStreet.com from January 1 - September 31, the majority of Junior Executive jobs give an average monthly salary of $2,001 to $3,000. Majority of Senior Executive jobs give an average monthly salary of $3,001 to $4,000 and this jumps to $5,001 - $7,500 for Manager and Senior Manager jobs.