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The 5 highest-paying sectors in Singapore in 2016

Hit by the global slump in commodities and manufacturing demand, three sectors featured in last year's top five list are out of this year's ranking: oil, gas and petrochemicals; pharmaceuticals; and semiconductors.

IT tops the 2016 list with technology heads expected to command between S$13,000 and S$24,000 a month, according to the Kelly Singapore 2016 Salary Guide.

Ths firm said the Government's aggressive infocomm sector development is behind the emergence of IT as one of the highest paying industries.

In terms of specific occupations, some of the hot jobs for 2016 are: compliance manager, fintech developer, big data developer, digital marketing manager and scientific and regulatory affairs specialist

Said Foo See Yang, vice-president and country general manager of Kelly Services Singapore: "Despite the challenges in the global economy, bright spots remain in the financial technology, big data, as well as digital marketing sectors where demand for talent will continue to rise throughout 2016.

"Professionals, managers, executives and technicians (PMETs) who have been hit hardest by the slowdown should look at upskilling and expanding their capabilities into new areas of growth to stay relevant."

The firm also said that global economic volatility will lead to more employers turning to temporary and contract work arrangements to fulfil manpower needs.

"There is a need for a mindset shift by the Singaporean workforce to look beyond permanent roles, especially in the current economic environment," said Mr Foo.

How much you can earn in the 5 highest-paying sectors:

IT

The Government's efforts such as the 2015 Intelligent Nation Master plan and the National Broadband Network, is driving growth for the industry. Business development senior account directors and program managers can expect to earn S$12,000 to S$22,000 and S$11,000 to S$14,480 respectively.

ACCOUNTING

The push to develop the accounting industry into a leading global hub for the Asia-Pacific region by 2020 saw sector grow S$1.8 billion in 2015. Chief financial officers can expect to earn S$10,000 to S$20,000 and accounts managers, S$5,000 to S$7,000.

SALES, MARKETING AND ADVERTISING

Mobile marketing is becoming increasingly important as a dominant medium to reach brands' target consumers. Digital marketers can expect to earn S$6,000 to S$10,000.

BANKING AND FINANCE

While growth in the banking and finance is expected to be low this year, Singapore's economy continues to be triple-A rated with over 700 financial institutions providing a wide array of financial services. Some bright spots can be seen in the sector as the Monetary Authority of Singapore commits S$225 million to grow the country's financial technology capabilities.

Financial technology developers are expected to be paid in the range of S$7,500 and S$12,000. Vice-presidents of compliance and risk functions in the banking and finance industry can expect to get S$10,000 and S$17,000.

HEALTH AND LIFE SCIENCES

As Asia's fastest growing bio-cluster, demand for professionals with specialist skill sets and talent is expected to remain high. The Government's S$19-billion Research, Innovation and Enterprise 2020 Plan is set to advance and support the sector.

Research and development directors can earn S$8,000 to S$15,000.