When selecting a career, it’s important to look at the trends that will determine job market viability in the long term. What may seem like a lucrative career today may become obsolete within a matter of a few years if technological disruption renders your chosen field of work irrelevant.
Demographics and Finance Guide the Way
Technological advancement has been proceeding at an exponential rate in recent years with no sign of slowing down. Never have your career choices been more facilitated by the rise of information technology and telecommunications than today. However, it’s always important to follow the money when thinking about your next career choice. What kinds of businesses is investment capital going into? These are the fields that will be flourishing in the future.
Singapore is not only a large business center for the Asian continent but is also considered a hub for global foreign exchange and commodities trading. The fact that Singapore is the region’s crossroads for Wall Street, the City of London, Tokyo and Hong Kong makes careers in finance and information technology a sure bet.
Demographics are always a major determinant of a good career choice. Being aware of the trends that will shape the future and cementing a career in a field that coincides with these trends is a low-risk proposition.
There are a few areas of the world that are conducive to high birth rates but overall, the populations of most countries are aging. Statistics regarding Singapore show that although the city-state experienced a baby-boom after World War II, much like in the West, the population growth rate is expected to peak in 2020 and start to taper off in the years to come. This means that careers that tailor to an aging population will be increasing in demand and will pay quite well.
Let’s look at the 10 fastest-growing and high paying careers for women in 2020 and beyond and examine what makes these careers great for building your sustainable future.
As alluded to above, aging populations require services that center primarily around medical care. Medical research is constantly producing compounds that help people live longer lives. A career as a pharmacist puts you at the forefront of the emphasis placed on longevity and anti-aging.
2. Nurse Practitioner
Nurse practitioners have always been in demand but will become even more appreciated moving forward. As a nurse practitioner, you have the option of working in primary or specialty health care. The greater the specialization, the higher the pay-grade you can aim for, with the anesthetist and gerontological specialties being among the top-paying.
3. Physician and Surgeons
It makes sense that physicians would make the list of careers expected to grow in 2020 as their role in providing healthcare in the years to come is expected to increase in demand. New methods and discoveries in the fields of anti-aging, cancer, pharmacology and stem cells are bringing preventative medicine to the top of the health agenda.
Surgeons that specialize in cosmetic procedures can earn a lucrative living whether working in a clinic or starting a practice of their own. Millions of people from all over the world travel to Asia to get quality surgery with almost a billion dollars being brought into Singapore’s economy from medical tourism back in 2014.
4. Physical Therapist
Being a physical therapist means working with patients in their rehabilitation. It is a challenging, hands-on occupation that requires knowledge, skill and compassion. Patients come to physical therapists to overcome injuries, recover from strokes, or to regain motor skills. Physical therapy provides plenty of room for specialization which can increase your yearly take-home pay depending on which area you choose to focus on.
5. Psychologists and Psychiatrists
As society is evolving and the way people interact adjusts to include technology, people are feeling more and more detached. The modern world, although giving us plenty of comforts, is also creating psychological issues that we have not experienced before at such a grand scale. Psychologists and psychiatrists have always been well-paid and their status is only expected to improve in 2020 and beyond.
6. Software Developer
The next wave of advancement in the world of information technology is here and software developers are in high demand in order to be able to meet the trend head-on. Artificial intelligence, robotics and the growing blockchain and cryptocurrency spaces are in need of people that will provide the coding for services that seem to be coming off the proverbial assembly line faster than ever. If you need more evidence as to why you should consider a job as a software developer, know that the field is expected to grow 24 grow by 2026.
7. IT Systems Manager
Besides software developers, companies need IT systems managers to plan and maintain their networks. Corporate giants need experts that specialize in data analysis and security in order to complete their mission-critical operations. IT careers are expected to grow 12 percent through the year 2026, so starting a career in the field will provide job security combined with a hefty salary.
8. Financial Managers
Singapore’s status as a global financial center makes careers in finance an attractive proposition for anyone looking to build a future in the space. With the global financial system being in a phase of transition, Singapore is leading the way in financial innovation. The country’s economy is constantly touted as the most open, pro-business economy in the world and many corporate juggernauts have offices in Singapore.
9. Human Resources Manager
A vibrant economy requires knowledgeable professionals in the field of human resources. Hiring competent employees is becoming more challenging in a world of constant technological innovation. As a human resources manager, you are an important gatekeeper in the successful operation of a company.
10. Civil Engineer
Every year, countries from Southeast Asia turn up in 4 or 5 out of the top 10 best places to work as a civil engineer. Run a search online for ‘civil engineer jobs in Singapore’ and you will find that there is an urgent demand for competent people to fill these creative, high-paying positions.
High Paying Careers for Women in Singapore
Singapore provides women the opportunity to work in a fast-paced environment where professionals of the highest order are in demand. Median weekly salaries for most of the occupations mentioned above are placed at over $1,500. With high-level specialisation and good positioning, it isn’t a stretch to say that women working in Singapore can potentially shoot for six-figure annual salaries or more.
Top 10 Fast-Growing and High Paying Careers for Women [In 2022 and Beyond]