top 10 highest paying jobs in the philippines
Last updated on January 4th, 2023 at 04:34 am
Philippine – The Philippine economy recovered in 2018, with growth estimated at 5.3%, following a 10.1% collapse in 2020. Despite two waves of COVID-19 infections that resulted in severe movement limitations in Metro Manila, neighbouring provinces, and significant urban regions, this was the case throughout the archipelago.
Government officials are convinced that 2023 will be the year the economy rebounds to pre-pandemic levels. Last year’s resurgence was partially credited to higher consumer spending and building in the second half of the year.
Millions of Filipino job searchers are anticipating 2023 to be a lot better year, in part because of these characteristics. The unemployment rate was 6.5% in November 2021, which was the lowest level since it reached a record high of 17.6% in April 2020. The rate of underemployment was 14.7%. People who are underemployed are those who would like to work more hours at their current job, have another employment, or start a new job with longer hours.
Even while there won’t be a uniform recovery across the board, there are growth sectors where job seekers should think about applying their transferrable abilities if they want to change careers. As the digital and technology sector looks to fill job placements in roles like enterprise architecture, data science, and application development, those with credentials in computer science will be in great demand.
Although the list primarily consists of senior roles, it will help job searchers at any stage of their careers, including recent grads, identify the industries that will provide aggressive hiring and competitive wage packages in the months to come.
|Rank||Profession||Annual Income PHP|
|2.||Managing Director (FMCG)||9 Million|
|3.||Chief Technology Officer||6.5-9 Million|
|4.||Sales Director||8 Million|
|5.||Finance Director||6.5-7.8 Million|
|6.||Head of Tech (Applications)||4.6-6.5 Million|
|7.||Head of Human Resources||6 Million|
|8.||Head of Marketing||6 Million|
|9.||Head of Data Analytics||3.9-5.5 Million|
|10.||Management positions in Healthcare and Life Sciences||5 Million|
Following are the top 10 highest paying jobs in Philippines in 2023:
It is not unexpected that Chief Executive Officers are at the top of the Philippine salary list. They can earn up to PHP13 million a year in booming industries including Business & Financial Services and Digital & Technology.
CEOs are typically expected to have outstanding business administration abilities and in-depth understanding of all relevant corporate activities because they are responsible for increasing the company’s income. In order for the businesses they are in charge of to continue to be adaptable and lucrative, they will also need to be up to date on current and upcoming trends.
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2) Managing Director (FMCG)
The Philippines’ FMCG & retail industries had a difficult year in 2021. It had high expectations for recovery at first, but those were at least partially crushed in August when Metro Manila was placed under strict lockdown to stop the spread of the coronavirus’s Delta form. There is cautious optimism that things will get better as we approach 2022 because the Omicron variation is expected to have just a minor effect on the economy.
A larger move toward e-commerce could prove to be a boost for the retail industry. According to current estimates, e-commerce sales in the Philippines would increase by 17% annually, potentially reaching US$10.3 billion by 2025. This may be the cause of the continued high pay for managing directors in FMCG and retail.
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3) Chief Technology Officer
The Philippines’ information, communications, and technology industries are flourishing as a result of factors like a growing middle class and a young population that is willing to spend money on tech-related goods. The government, which has started a program for its agencies to undergo digital transformation, has also helped the industry.
All industries, including business & financial services, fast-moving consumer goods (FMCG) & retail, and industrial & manufacturing, have undergone tremendous digitization as a result of the COVID-19 epidemic.
This has contributed to a sharp rise in demand for IT specialists in related industries including cybersecurity, software, and telecommunications. As a result, many businesses are trying to employ a Chief Technology Officer to lead their tech teams and are prepared to pay this individual PHP6.5 million to PHP9 million annually.
4) Sales Director
A strong sales team is essential to a company’s current and future success as it is the department that generates income. Sales managers need to be able to inspire their teams in addition to having a successful track record in sales.
They should ideally be knowledgeable about the technology that streamlines workflows so that their employees may focus their time and effort on things that are of higher value. In industries including business & financial services, FMCG & retail, and sales directors or heads of sales, annual salaries can reach PHP8 million.
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5) Finance Director
Any business needs a strong financial foundation to function. Finance Directors and Heads of Finance are fairly compensated, commanding between PHP6.5 million and PHP7.8 million annually despite having a long list of responsibilities and high levels of responsibility.
6) Head of Technology (Applications)
App development is becoming a key component of many businesses’ digitization efforts, whether it’s to assist internal users in streamlining their work processes or to reach out to customers with a specialized app. Heads of Technology that specialize in this field can anticipate to be well-compensated, earning between PHP4.6million and PHP6.5million annually due to the high demand for good software developers.
7) Head of Human Resources
In 2022, when the economy is predicted to reach its pre-pandemic levels, human resource management would be a top concern for many Philippine businesses. In industries like business & financial services, digital & technology, and industrial & manufacturing, a head of HR or head of talent acquisition may expect to make roughly PHP6 million per year.
This person will also need to understand how to build and maintain employee engagement, retain talent, and plan for the workforce’s future needs in addition to acquiring talent.
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8) Head of Marketing
Marketing teams are in charge of the organization’s marketing and communications plan to help raise brand awareness and create a proper brand image, making them a crucial part of any corporation.
A marketing director today must have a broad perspective on how different departments might collaborate to push out a cohesive plan for their campaigns because they work in a highly matrixed setting. A marketing director also referred to as the head of marketing or the managing director of marketing, can earn up to PHP6 million annually.
9) Head of Data Analytics
Today, data is used inordinately while making decisions across all industries. As a result, excellent data analysts are constantly in demand. These experts provide rigor to data-driven decision-making since they have extensive backgrounds in statistics and a working knowledge of programming languages.
Data analysts are expected to connect the dots when dealing with complicated data sets, but they are also required to be able to communicate the findings to other business stakeholders in an understandable and concise manner. Heads of Data Analytics might make between PHP3.9 million and PHP5.5 million annually for their experience and expertise.
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10) Management positions in Healthcare & Life Sciences
The pharmaceutical sector has been under scrutiny as a result of the COVID-19 pandemic, particularly when it comes to promptly satisfy the demand for global vaccine rollouts. As a result, contract development and manufacturing organizations (CDMOs) and contract manufacturing organizations (CMOs) have also had to produce solutions at competitive prices.
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CMOs and CDMOs will be wanting to hire senior-level talent with particular expertise as they experience exponential growth and are willing to pay them accordingly. Management jobs in the healthcare and life sciences sector, such as those for the heads of commercial excellence, medical affairs, and pharmacovigilance, can pay up to PHP5 million annually.