Are the Highest Paid People Worth the Money?




The highest paid people should possess a good combination of skills, qualification and personality traits.

The more unique the skills required and the fewer qualified people, the higher the pay offered. Organizations compete for talents to outdo or defeat the competition.

Click HERE for ideas in managing compensation. Organizations cannot continue the practice of causing other organizations loss of talents.

Where can you find the highest paid jobs?

The highest paid people are found in engineering, securities and financial services and sales in certain industries such as wholesalers and manufacturers of technical as well as scientific products.

In the United States, a recent survey (2012) found that the ten highest paid workers include:

  1. Medical professionals
  2. Chief executive officers especially those working in large Fortune 500 companies
  3. Psychiatrists
  4. Dentists
  5. Engineering managers
  6. Natural sciences manager
  7. Computer and IT Managers
  8. Lawyers and judges
  9. Marketing managers
  10. Air Traffic Controllers

The order of the names may change positions as time passes by.

Lowest Paid People

Currently the lowest paid people in the United States include those who work as:

  • Cashiers
  • Retail sales persons
  • Fast food workers
  • Farm workers
  • Amusement park attendants
  • Radio and TV presenters
  • Reporters as well as correspondents
  • Firefighters

You would have heard people referring to this group of people as "the working poor". As in the case of highly-paid people, the lowest paid people vary from place to place and country to country.



Who are the Highest Paid People in Asia?

In 2011, the following are Asia's top 10 highest paid jobs:-

  1. Surgeon
  2. Anesthesiologist
  3. Obstetrician and Gynecologist
  4. Orthodontists
  5. Oral and Maxillofacial Surgeon
  6. Medical General Internist
  7. Psychiatrist
  8. Prosthodontist
  9. Family and General Practice Physician
  10. Chief Executive Officer However, Chief Executive Officers are paid big sums of bonus at the end of the year.

You will notice that most of the highest paid people in Asia are in health.

The 10 Highest Paid Workers in Singapore for 2011-2012 (By Jacelyn Lim)

  1. Enterprise Architect (Infocomm Technology) who oversees the amalgamation of business and technological aspects within the organisation.
  2. Project Manager (Infocomm Technology) who manage, defines perimeters and aids the implementation of infocomm projects.
  3. Licensed Aircraft Maintenance Engineer who leads a team of technicians in the maintenance and certification of aircraft standards.
  4. Manufacturing Engineer (Precision Manufacturing) who monitors the manufacturing process
  5. Production Engineer (Biomedical Sciences Engineering)who oversees smoothness of the production line.
  6. Security Consultant (Infocomm Technology) who implements, enforces and manages security systems.
  7. Marine/Technical Superintendent/Fleet Manager (Maritime) who manages the technical operations of company's fleet of vessels.
  8. IT Outsourcing Manager (Infocomm Technology) who oversees IT outsourcing projects and carries out monitoring.
  9. Ship Charterer (Maritime) who ensures that ships deliver cargo on time in the most cost-efficient manner.
  10. Quality Assurance Engineer Manager (Aerospace Manufacturing) who ensures all aircraft components comply with airworthiness requirements.

As compared to those highest paid, workers who receive very low pay perform jobs that are mainly transactional in nature, of low value and low risk.

The above information show that the order of high value jobs in the West are not necessarily the same as that of high value jobs in Asia although the holders are still among the highest paid people.

One other observation is that HR people are neither found among the highest paid people nor among the lowest paid people.

The above information may help corporate leaders formulate compensation plan in order to retain people whose service is necessary for their continued success.

It is important to remember, however, that things may change depending on future developments that have great impact on pay.

Click HERE for information of the Three Important Jobs

Are highly paid people happy? Are they productive?





My aStore LINK

Disclaimer
Privacy Policy

To Home Page