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Old 20-12-2007, 01:13 PM
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Default 4 Highly Paid Professions

The gaps have narrowed for 4 of the 6 professions/sectors used in benchmarking ministerial and Civil Service salaries.

Top executives in MNC, lawyers, bankers and accountants each took home more than $4 million last year (Iras Year of Assessment 2007).

Specifically, the median income of the top 8 earners in MNCs made $4.86 million. To calculate the median, we take the average of the top 4th and 5th earners.

For lawyers, the corresponding median is $4.65 million, bankers $4.40 million, and accountants $4.00 million.

Yes, millions. These people are making millions a year. Possibly every year.

The other 2 benchmarked professions are local manufacturers and engineers. The manufacturers earned $2.74 million, while the poor engineers continue to subsist at the bottom of the table with a mere $0.75 million.

See their earnings for the previous year.

It's been said that top doctors and architects also make a lot of money, although they are not used in the benchmarks.

So, which profession or sector is the best? In my opinion, there are a few factors to consider - income, chance of getting to the top and work-life balance.

Here's my unscientific recommendation, in order of preference:

- Administrative Service officer
- MNC executive
- Banker
- Accountant
- Lawyer
- Architect
- Local manufacturer
- Doctor
- Engineer

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