Table of Contents
Are you considering pursuing an MIM in Singapore? Are you wondering about the potential financial benefits that come with this esteemed degree? Look no further! In this blog, MIM Salary in Singapore, we delve into the exciting world of MIM education in Singapore and uncover the remarkable salary prospects that await graduates. Throughout this blog, we will explore the average MIM salary in Singapore earned by graduates, the industries that offer the most attractive remuneration packages, and the factors that contribute to the exceptional earning potential associated with an MIM qualification.
Average Salary of MIM in Singapore
The average master of management salary in Singapore is around 35,000 USD per year, although higher salaries are possible depending on the circumstances. Many MIM degree graduates begin their careers in beginner-level management roles, like management trainees or business analysts. It's important to consider that an MIM is a postgraduate degree that is typically pursued after gaining work experience, so the expectations of the MIM salary in Singapore are often influenced by their prior professional background.
Master in Management salaries can also differ by industry sector. Some industries, such as finance, consulting, and technology, generally offer higher salaries for MIM graduates due to the nature of the work and the demand for individuals with advanced business knowledge and leadership skills.
| S.No | Job Role | Average Salary (SGD/year) |
|---|---|---|
| 1. | Software Engineer | 60,000 - 84,000 |
| 2. | Accountant | 54,000 - 72,000 |
| 3. | Business Analyst | 60,000 - 84,000 |
| 4. | Data Analyst | 60,000 - 84,000 |
| 5. | Human Resources Specialist | 48,000 - 72,000 |
| 6. | Marketing Executive | 42,000 - 66,000 |
| 7. | Civil Engineer | 54,000 - 78,000 |
| 8. | Mechanical Engineer | 54,000 - 78,000 |
| 9. | Project Manager (IT) | 72,000 - 108,000 |
| 10. | Financial Analyst | 80,000 - 120,000 |
Sector Wise MIM Salary in Singapore
The Master in Management (MIM) degree is a highly sought-after qualification in Singapore, offering a wide range of career opportunities across various sectors. The salary prospects for MIM graduates in Singapore are influenced by factors such as the industry, company, and level of experience. Understanding the mim salary in Singapore across different sectors can help graduates make informed career choices. Here is a breakdown of the average salary ranges for MIM graduates in different sectors in Singapore, providing insights into the earning potential in each industry.
1. Consulting
MIM graduates often find rewarding and high-paying roles in the consulting sector. MIM salary in Singapore can vary depending on factors such as experience, location, and the consulting firm's size and reputation. On average, In the consulting sector MIM graduates can expect to earn between SGD 81,000 to 121,500 per year, with the potential for higher earnings as they progress in their careers.
2. Finance
The finance sector in Singapore offers lucrative opportunities for MIM graduates. Roles in investment banking, corporate finance, private equity, and asset management can provide attractive salary packages. On average, finance sector MIM graduates can expect to earn between SGD 94,500 and 135,000 per year. However, it's worth noting that salaries can significantly increase with experience and performance, particularly in senior management positions.
3. Technology
Singapore has a thriving technology sector, with many multinational tech companies having a presence in the country. MIM graduates with a focus on technology and innovation can find excellent career prospects and competitive salaries. On average, in the Technology sector, MIM graduates can expect to earn between SGD 81,000 and 128,250 per year, depending on the specific role, company, and level of experience.
4. Consumer Goods
The consumer goods industry encompasses various sectors such as retail, FMCG (fast-moving consumer goods), and luxury goods. Masters in Management in Singapore graduates pursuing careers in consumer goods can expect diverse opportunities. MIM salary in Singapore in this sector can range from SGD 81,000 to 128,250 per year, depending on the specific role, company size, and level of responsibility. Senior management positions or roles in large multinational companies may offer higher earning potential.
The table below provides a breakdown of the average salary ranges for MIM graduates in Singapore across various sectors:
| S.No | Sector | Salary Range (SGD/year) |
|---|---|---|
| 1. | Consulting | 81,000 to 121,500 |
| 2. | Finance | 94,500 to 135,000 |
| 3. | Technology | 81,000 to 128,250 |
| 4. | Consumer Goods | 74,250 to 114,750 |
Top 5 Best Paying Jobs After MIM in Singapore
A Master's in Management (MIM) degree has become an increasingly popular choice among students seeking to elevate their career prospects and gain a competitive edge in the job market. Focusing on developing managerial skills and leadership acumen, an MIM degree opens doors to career opportunities across various industries. Singapore, as a thriving global business hub, offers an excellent environment for MIM graduates to embark on their professional journey. The country's robust economy and diverse industries provide job options, making it an attractive destination for aspiring managers and leaders.
With a MIM degree in hand, graduates are equipped with the knowledge and skills to drive innovation, implement strategic decisions, and lead teams effectively, positioning them for success and getting all kinds of MIM in Singapore jobs in a dynamic job market. Let's delve into the 5 Best Paying Jobs After MIM in Singapore.
1. HR Manager
HR managers play a crucial role in attracting, developing, and retaining top talent within an organization. With an average annual package of SGD 100,960 in Singapore, this role offers rewarding opportunities to implement innovative HR strategies, foster a positive work culture, and drive employee engagement initiatives.
2. General Operation Manager
General operation managers are responsible for overseeing the day-to-day operations of an organization. With an average annual package of SGD 57,443, this role requires strong leadership and problem-solving skills to ensure smooth business operations and optimize efficiency across various departments.
3. Training Manager
Training managers are instrumental in designing and implementing training programs to enhance the skills and knowledge of employees. With an average annual package of SGD 66,146, this role provides opportunities to foster a culture of continuous learning and talent development within the organization.
4. Sales Manager
Sales managers are responsible for developing and executing sales strategies to achieve revenue targets. With an average annual package of SGD 62,664, this role offers exciting opportunities to lead sales teams, build client relationships, and contribute to the growth and success of the organization.
5. Social Media Manager
In the age of digitalization, social media managers play a vital role in crafting and executing social media strategies to enhance brand presence and engagement. With an average annual package of SGD 45,257, this role offers opportunities to connect with a vast audience and drive impactful online marketing campaigns.
The table below showcases the average annual salaries for some of the best-paying jobs for MIM graduates in Singapore.
| S.No | Job Role | Average Annual Package (SGD/year) |
|---|---|---|
| 1. | HR Manager | 100,960 |
| 2. | General Operation Manager | 57,443 |
| 3. | Training Manager | 66,146 |
| 4. | Sales Manager | 62,664 |
| 5. | Social Media Manager | 45,257 |
Location-Wise MIM Salary in Singapore
When it comes to pursuing a Master in Management (MIM) in Singapore, the potential earnings can vary greatly depending on the location within the city-state. Different areas offer diverse job opportunities and salary ranges for MIM graduates. Below, we outline the average salaries in various key locations across Singapore, giving you a clear idea of what to expect. This will help you better understand the "mim salary in Singapore" landscape.
- Orchard Road: Known for its shopping and entertainment, Orchard Road also hosts several multinational offices and corporate headquarters. This area is ideal for those looking to work in marketing, finance, or management roles in retail and entertainment companies. MIM graduates can earn between SGD 70,000 and SGD 100,000 per annum.
- Marina Bay: Another major financial and business hub, Marina Bay offers similar opportunities to the CBD. The area is famous for its iconic skyline and is home to numerous global banks and financial institutions. MIM graduates can find lucrative positions in finance, consulting, and real estate management, with average salaries ranging from SGD 80,000 to SGD 120,000 per annum.
- Raffles Place: This area is renowned for its concentration of financial and business offices, including many of Singapore's tallest skyscrapers. MIM graduates working in Raffles Place can engage in high-stakes financial trading, corporate strategy, and business consulting. Average salaries range between SGD 70,000 and SGD 100,000 per annum.
- Tanjong Pagar: Also a key business district, Tanjong Pagar provides job opportunities in various industries, including shipping, logistics, and finance. The area's blend of modern office buildings and cultural heritage sites offers a unique work atmosphere. MIM graduates can expect salaries ranging from SGD 70,000 to SGD 100,000 per annum.
- Chinatown: Known for its cultural attractions and bustling commercial activity, Chinatown offers a distinctive mix of traditional businesses and modern enterprises. MIM graduates can find roles in finance, consulting, and entrepreneurship, with salaries between SGD 60,000 and SGD 90,000 per annum.
Factors Affecting MIM Salary in Singapore
MIM in Singapore cost affects admission, there are some factors that affect salary in the country. The prospects for MIM salary can vary based on several factors, including job experience, company size, and industry demand. Here are some of the factors that can affect the salary prospects for MIM graduates:
- Job Experience: One critical factor that can affect the MIM salary in Singapore is job experience. The more job experience a graduate has, the more likely they are to secure higher-paying jobs. Many companies in Singapore offer different salary levels based on the candidate's work experience and seniority level. Therefore, MIM graduates with relevant work experience may have an advantage in securing higher-paying jobs.
- Company Size: Company size and reputation also matter, and where you work can influence your salary. Well-established companies in the MIM field may offer more competitive salaries than small companies.
- Industry Demand: The industry in which you work can greatly affect your Master in Management(MIM) salary. For example, Masters in Management (MIM) professionals working in the aerospace or medical device industries may receive higher salaries than those in less specialized sectors. So, it works entirely on an industry sector basis.
- Cost of Living: The cost of living in Singapore is relatively high. Employers may offer higher salaries to balance these living costs, especially if you have unique skills that are in demand. Singapore is known for its expensive real estate market. So, a significant portion of your income often goes into House rent, transportation, Taxes, and social security. So, these factors may also influence MIM salaries.
Top Singapore Colleges With Highest Post-MIM Salary
Singapore is renowned for its high-quality education system and strong industry connections, making it an attractive destination for students pursuing a Master's in Management (MIM) degree. Thanks to the robust economy and diverse job market, graduates from Singapore's MIM programs can expect to earn competitive salaries. The MIM salary in Singapore is particularly high for graduates from top colleges, reflecting the excellent education and opportunities these institutions provide.
Here are the top Singapore colleges with the highest post-MIM salary, where students can achieve their career goals and secure lucrative positions in various industries:
| S.No | MIM Colleges in Singapore | Full-time MIM Average Salary | |
| 1. | NUS MSc in Management | $34,690 | |
| 2. | Singapore Management University MIM | $34,690 | |
| 3. | Singapore Institute Of Management | $34,690 | |
| 4. | Nanyang Technological University | $48,292 | |
| 5. | INSEAD Business School MIM | €72,000 | |
| 6. | ESSEC Business School MIM | €121,000 | |
Conclusion
In conclusion, obtaining an MIM in Singapore can significantly increase your earning potential. While an MIM can provide a competitive advantage in the job market and potentially lead to higher salaries, it's also important to consider the cost of obtaining the degree and weigh the potential return on investment. Additionally, negotiation skills, qualifications, and specific skills in the market impacts on all actual MIM salary in Singapore.
