Doctors and biotech research scientists command the highest average starting salaries among fresh graduates, according to online portal JobStreet.com.
The portal has compiled a list of the top 10 best paying jobs in Singapore based on salaries posted by employers from Jan 1 to Sept 30, 2013. It found that the average fresh graduate who becomes a doctor starts at $3,095 per month, with biotech research scientists not far behind at $3,082.
Those in legal services ranked number six at $2,825 while those in banking and finance came in at ninth place at $2,758. Jobs in IT rounded off the list at $2,718.
The portal's study also revealed that the average fresh graduate in Singapore can expect to earn $2,300 per month.
These figures are the basic salaries posted, and do not include leave credits, medical benefits, insurance and incentives.
However, when it comes to workers with at least five years of experience, average salaries of those in banking and finance, actuarial sciences, audit and legal services start to top them all.
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 up to $9,200.
Also, workers in banking and finance, actuarial science, audit and legal services with five years of experience or more can expect to receive an average monthly wage of above $4,500 per month.
When it comes to managerial positions, those in the science and technical sectors draw the highest pay with chemists heading the list at an average salary of $9,096 per month while laboratory scientists come in fourth place at $6,882. Software engineers, electrical engineers and chemical engineers all have an average salary of more than $6,000 per month.
The average monthly wage of a senior manager is $8,650 per month, with those in legal services topping the list at $14,466 followed by those in top management at $11,887.
"While jobs in finance generally pay very well amongst fresh graduates, there is a noticeable trend of technical jobs in areas of engineering, IT and sciences being better compensated as one moves up the corporate ladder," says Chew Siew Mee, country sales manager at JobStreet.com Singapore.
She explains that roles that are the most challenging to fill are likely to command the highest pay, such as jobs in accounting and finance, IT and engineering.
"These are strategic skills that remain highly sought after by employers to support the growth of key economic sectors in Singapore. Hence, these specialisations are likely to remain as the top paying jobs of the future," she says.