If you are considering changing careers to something that is better paid, it would be a good idea to think about switching to a job in accountancy. It would appear that one of the highest paying sectors to be in is financial services and accountancy making it an attractive and lucrative position for anyone looking at generating a higher wage. Recent reports also expect there to be expansive and fast growth with an average estimated increase of professionals working in this sector by up to twenty-one thousand by the year 2020.
One of the contributing factors to this growth is down to the formation of the ASEAN block in the past year. For the majority of employment opportunities in the accountancy sector, these mainly consist of entry and mid level positions which can be filled quickly and easily by graduates. Those who hold positions toward the top levels of the industry such as senior positions and finance controllers will be happy with the knowledge that they will be able to gain a salary from $5-7,500 and $8-16,000 according to the report by Kelly Services.
Of course, accounting is not the only industry that is booming and there are many others competing for the top paying industry title. These consist of major industry sectors from financial institutions, health and leisure industries, Information technology, science and legal sectors. The top ranking professions are in the legal sector and also offer the highest rates of pay. As an example, a general counsel can expect to command a salary of between $15-20,000 per annum. There is also excellent predictions for those working in the financial sectors who are expected to see a 3% increase in their wages regardless of the fact that the economic climate is still not great. Those in senior positions can look forwards to a salary of around $4,400 and VP’s whose main focus is in the risk sector can expect between $10-17,000.
The Kelly Services annual guide amasses data and puts together the information consisting of salaries per sector and industry across twelve of the main sectors in Singapore’s employment landscape showed that Singaporeans are finding ways to remain resilient, even in such an uncertain market. More than eight out of ten workers surveyed showed an inclination of wanting to develop and grow their skills. With the development of the ASEAN community and the future financial positions of countries stabilizing, it is expected that accountancy will become a highly prized sector that offers fantastic salaries in comparison to menial labour positions.
With the trade agreements being put into place between ASEAN community members, import and export will also flourish which will ultimately lead to more demand for those from the accountancy field. The financial situations and markets may at times be stagnant, but this report helps breathe some hope back into those seeking a career or position in one of these top performing industries, and accountancy should definitely be one of those that are towards the top of your list.