Tag: Random 2017

What high paying career should I choose in Singapore?

By on March 3, 2016 in All 2017

Some people say that Singapore is one of the most stable global economies in the world. Many people also say that many US & European MNCs like to base their regional headquarters in Singapore due to the ease of doing business in general.

However, it’s not all rainbows and butterflies in sunny Singapore (unless of course you count the moth invasion in 2014).

One issue many expats (& locals) have with working in Singapore is the cost of living.

To give you a general idea of what I’m talking about:

  • A new family car can easily cost more than a 100,000 USD (and you have to scrap it after 10 years or pay another XX,000 USD to keep it another 10 years).
  • What about a new, less than 400cc motorcycle? More than 15,000 USD.
  • Purchasing A 5 room public housing apartment can easily cost half a million USD.
  • A simple meal can cost about 5 USD if you find yourself in some canteen in an industrial park.
  • Parking charges in some CBD areas can go in excess of 4 USD per hour.

Taking the above into consideration, obviously, salary packages in Singapore have to get really high to attract top tier talents into the country.

But before you leave your current job to jump to Singapore, lets look at five jobs in Singapore that pay really well.

5 High Paying Jobs In Singapore:

1.) Specialist Medical Practitioner

In Singapore a specialist medical practitioner or surgeon in even a small private hospital can average a monthly salary of about S$20,000 or more. As you gain the years of experience, this number can increase exponentially. Becoming a specialist will require an extensive amount of education and training (both time and cost) but can be well worth it when you are making over S$240,000 a year.

Like most things in Singapore, the medical practice industry is highly regulated. You will need to convince the authorities that you are indeed fit, knowledgeable and well qualified enough to administer life saving medicines.

Foreign degrees in medicine can be recognized, but you may want to check with the Singapore Medical Council first before applying for such jobs in Singapore.

2.) An Advocate Or Solicitor

Lawyers in Singapore can make some big bucks. The average monthly salary for criminal lawyers is close to S$18,000 which averages to about S$200,000 a year. Like in most countries, keeping people out of jail is big business. Singapore’s judiciary system metes out punishments ranging from fines, jail terms and death by hanging for various offenses, and there is always some idiot out there who followed through on a bad idea and got caught. In fact, you should be able to find a fair share of such idiots.

With corruption being nearly unheard of in Singapore, the only chance some criminals have at staying out of jail or not finding themselves hanging off the business end of several yards of rope – is to throw everything in their bank accounts at some skillful lawyer who just might be able to put up a convincing argument in Court to secure a more lenient sentence. I would not bet or bank on this though.

Aside from criminal law, Marine law & Contract law are popular niches in Singapore.

With all that being said, freshly minted lawyers may find it hard to get a good paying placement in law firms at the beginning of their careers and may have to start off working for meager allowances, but like most things in life – persistence pays off.

3.) CEO Or Managing Director

If you are looking for somewhere to relocate and you have experience as a CEO you may want to search out some job positions in Singapore. The average monthly income for CEO’s in Singapore is often over S$15,000 a month. Each company will have a different structure and system in place to dictate the specific jobs duties of the CEO and the size of the company will have an effect on the amount you can expect to get paid. But, even small companies can sometimes offer up to S$180,000 in yearly income if you include all bonuses and stock options.

They say it’s lonely at the top though.

4.) University Lecturer

Becoming a University Lecturer will require you obtaining a master’s degree in your chosen field of specialty. University lecturers with high academic qualifications can make close to S$120,000 a year. Even university lecturers with limited work experience can make a handsome income by teaching part-time courses in private schools.

To get started, you would generally have to design your curriculum and do some self promotion to convince people that they should pay you to learn from you.

However, do note that teaching comes with all the “benefits” of having to deal with children and their children problems and marking their homework over weekends.

5.) Financial/Insurance advisor

Depending on your level of persistence and salesmanship, a population dense country like Singapore is an ideal place to get involved in financial advisory services. Distance between clients is short and it is easy to get referrals once you do a good job with a bunch. There are even cold calling services you can hire to quickly expand your client base. Licensing requirements are clearly defined by the Monetary Authority in Singapore.

Some insurance companies even include a monthly salary package for the first year or two of apprenticeship!

On the flip side, most Singaporeans in general have already been approached countless times by countless advisors to “review their current plans”. Some advisors can get pretty unscrupulous and dish out manipulative advise to churn sales. Some of them can get pretty persistent too. So you can expect less than fantastic returns on cold calling efforts and will need to find some other way to drive referrals.

Obviously there are other lucrative career options in sunny Singapore. You could always fly over and start a business. But labor laws in Singapore are pretty intense and the employment (including self employment) of foreigners must be done with an appropriate work permit. So before you make any hasty decisions – check out Singapore’s Ministry of Manpower website to understand the permits required before you start anything business activities in Singapore.

Exploring the Decision Making Process

By on February 8, 2016 in All 2017

Interestingly, the human mind has certain predictable tendencies when involved in a decision making process. So of course – somewhere, in some big college dealing with some “science” like sociology or psychology, some professor has put together a curriculum teaching the “sciences” behind decision making.

Apparently – the whole process of making a decision, whether a small or a big decision revolves around the following features.

Satisfiers vs. Maximizers

Satisfiers are people who engage in the decision making process once they “acquire a certain criteria”. So in people-speak, this means that they decide once they see an option that meets their expectations. Despite seemingly high criterion, satisfiers make instant decisions once they find what they are looking for. For example, if you are looking for a certain type of house and your agents shows numerous houses, and you turn them down. However, once you get the particular house you are looking for, you settle for that, and you have no need for checking out the remaining houses, you are as satisfier.

Maximizers, on the other hand, have to try everything out before making a decision. When looking for a house, they have to go through all the available houses that are for sale so that they can know that they have made the best option. Ultimately, maximizers tend to spend more energy during a decision-making process, and they are usually less happy than the satisfiers are.

So although they are maximizers, they have not maximized their happiness.

Explaining How Less Can Be More

Psychologists argue that we have the capacity to make snap decisions founded on limited information. I too argue the same thing.

Nevertheless, apparently we do not apply that, we tend to look for additional information and try to capture as much as we can and then end up getting confused. The decision making process is more challenging because of the Internet. Can you imagine simple life was, before the inception of Google? Neither can I (actually I can, because I am old enough to have existed when Google was just an upstart challenging the mighty Yahoo!). However, to be honest, the Internet has made everything more complicated, because we have to Google search the history of a car manufacturer, before deciding to buy something from it. Essentially, psychologists maintain that only the crucial information is necessary when making a decision, for instance, is the efficiency of the car. That also explains why psychologists chose to major in Psychology – they too made snap decisions based on whatever they happened to know at the time.

Types of Intuitions

There are three types of intuitions. The ordinary feeling or gut instinct is the common intuition when you know that it will pour later in the day. It is a vague intuition. Expert intuition is instant reflex, for instance when tennis pro knows the direction of the tennis ball based on the arc of the opponent. It is a swift intuition that works only in familiar situations. Strategic intuition is a clear thought that works in new situations, and it is always slow. Once your brain gets used to making certain decisions, you can make the subsequent decisions easily, unlike the first  decision-making process. Very often, the keenest sense of strategic intuition comes only just after the fact, or just as about something is going to go wrong. This is often confused with hindsight.

So what kind of decision maker are you? Will changing your decision making style ensure a better outcome? This is unlikely because regardless of how much you know – you cannot predict the future and there are about a gazillion ways for things to not go according to plan. So why are psychologists studying this shit and writing academic papers – justifying their existence in universities ? Why are people paying to learn this bull-shit and taking tests to test their understanding of these hocus-pocus theories? Why did you read this article in the first place? I am not a psychologist. In fact you likely have no idea who I am and I sure as hell know that I didn’t give you any useful data. If you were even slightly intelligent, you too would have known about half way through the article that I wasn’t planning on giving you anything useful.

In fact, the only real takeaway from this entire article is that you really need to make more careful choices about where and how you decide to spend your time.