It’s not every person you meet who’ll be able to proudly say they love their job, even more so if they’re only in it for the money. Most people dream of doing what they’re passionate about, while meeting their career aspirations AND at the same time earning enough to fund their chosen lifestyles.
Sounds like a very far shot? Not really; if you’re willing to put in the hard work and dedication in a job where you’re well remunerated, you could actually be able to achieve that.
No matter whether you’re a fresh graduate or a job seeker with years of experience under your belt, Singapore has always been one of the top destinations for those who seek greener pastures. In a country with attractive job opportunities (so long as you know where to look!), your efforts could be paid off with a considerably attractive income.
Where it once faced economic woes bad enough to create severe unemployment rates (the highest ever was 6.5%, recorded in 1986), Singapore is now one of the most advanced in the world, and has even topped lists such as “Most attractive countries to relocate to for work”. They placed a very respectable 8th place, by the way! And it’s not hard to see why, considering how its international competitiveness is robust, and the currency is the 13th-most traded in the world (by value).
So, if you’re looking to find your very own well-paying tech or digital career niche on this island, it’s time to check out this list.
Before we get to what are some of the lucrative careers you can consider, if you’re not a citizen/permanent resident, there are a few legal aspects you’d need to familiarise yourself with first.
The first and most important thing is to ensure you possess a valid pass (also known as a ‘work visa’). There are four main types to take note of: Employment Pass, EntrePass, Personalised Employment Pass, and ‘S Pass’. Here’s what each one means, in a nutshell (information taken from the official Ministry of Manpower (MOM) website):
|Pass Type||Who Is It For|
|Employment Pass||For foreign professionals, managers and executives. Candidates need to earn at least SG$4,500 a month and have acceptable qualifications.|
|EntrePass||For eligible foreign entrepreneurs who are keen to start and operate a business in Singapore that is venture-backed or possesses innovative technologies.|
|Personalised Employment Pass||For high-earning existing Employment Pass holders or overseas foreign professionals. The PEP offers greater flexibility than an Employment Pass.|
|S Pass||For mid-level skilled staff. Candidates need to earn at least $2,500 a month and meet the assessment criteria.|
Quick tip: You can use the online self-assessment tool created by the MOM to help you get a rough idea of your eligibility.
You’d also need to read up on the Singaporean government’s common employment practices, to ensure that they’re a good fit for your lifestyle. Think: Leaves of absence, public holidays, working hours, and salary, for example. The MOM’s exhaustive list of aspects covered will help you get a rough understanding of what working in Singapore will be like!
We’ve now come to the highlight of this article: What are the careers you could be considering that would pay you well for all your hard work! The data was taken from GRIT’s latest Salary Report and Market Outlook 2022/2023, where the monthly salary ranges were derived from the knowledge of senior recruitment professionals within the GRIT teams, as well as latest data from multiple job databases.
Editor’s note: The list below has been arranged in ascending order, and doesn’t include roles that are of managerial level and above.
Download your own FREE copy of the report and find out more: Salary Report and Market Outlook 2022/2023
To be a successful software engineer, you'd need to know how to use the right programming languages, platforms, and architectures to design and develop computer applications or programmes. This high-responsibility role will have you in charge of various types of projects, from computer games to network control systems. You may even be tasked with overseeing your very own team of software developers! Some of the soft skills you'd also require are problem-solving, a strategic mind, and communication. Don't forget to earn relevant certifications, because you can then build new skills and validate those skills to potential employers.
Trade marketing (also known as 'B2B marketing') focuses on increasing the demand of the product/service among the various supply chain partners. Whereas consumer marketing (also known as 'B2C marketing') focuses on both acquiring potential customers, and retaining current customers. Whichever you fall under, you're going to be in charge of promotional activities and marketing strategies that would communicate the value of the product/service to either the businesses or consumers. You'd need to personalise brand experiences too, as well as develop ideas on how to promote sustainable brand development.
DevOps is not only a cultural shift, mindset, or just a set of technologies; DevOps is the new way forward! First off, you'll have to understand the full software development lifecycle, because you're chiefly responsible for coming up with an organised solution to deal with the difficulties in the given system. You do this by examining the large system environment, and selecting an application framework which fits best. Generally, you must have a bachelor’s degree in software engineering, computer science, or a related field in order to seek employment in this role.
Companies nowadays are increasingly reliant on data to make important business decisions, such as which new products to develop or new/existing customers to target. As a data architect, your role is to know how to translate those business requirements into technology requirements, as well as define data standards and principles. You'd typically also need to act as liaison between the IT side of your company and the other departments, aligning data collection and distribution policies, with the company's operational and strategic objectives. In other words, you're the harnessing the power of data that drives modern-day businesses!
What exactly is a 'data scientist'? Imagine a data expert who has keen analytical skills, technical skills to solve complex problems, and enough curiosity to explore alternative solutions to the problems that need to be solved. As someone who's in high demand right now, they use data to understand and explain the phenomena around them, as well as help companies make better decisions. Plus, since their role seems to have a foot in both the business and IT worlds, they’re highly sought-after and well-paid. And it shows, since they made it onto this list as the top 10!
In the crypto/blockchain/Web3 space, someone in product management is capable of creating a strategy behind a product, and then oversee the launch from start to finish. But above all, they would need to coordinate the work done by others, such as product designers, data scientists, and software engineers. Once a particular project has achieved a considerable user base and the company wants to consolidate market advantage, that's when things like a product roadmap become necessary. In short, you'd provide much-needed coordination for a project, and ensure objectives are met.
Cloud computing architecture covers everything that's involved with cloud computing, including the front-end platforms, servers, storage, delivery, and networks required to manage cloud storage. So, this role basically refers to a person who has the skills and knowledge in converting the technical requirements of a project into the architecture and design that will guide the final product. He/she would also be responsible for bridging the gaps between other members of a tech team, plus be able to stay on top of the latest trends and technologies to keep abreast of the constantly evolving field.
When a company hires someone for growth acquisition, this job role typically means that in the crypto/blockchain/Web3 space, you'd be required to develop and execute creative strategies to help the company procure base customers/target audiences as well as uncover valuable partnership opportunities. In addition, you'd also be tasked with increasing both the Acquisition (e.g., work closely with the Head of Growth to build growth tactics that will generate traffic) and Activation (e.g., help the sales team close more deals by supporting them through the journey of all their prospects) conversion rates.
With this role, you'll essentially be responsible for proactively identifying new business opportunities, and developing relationships with various assigned institutional accounts (read: an account that's opened by/for an institution for the benefit of banks, mutual funds, or others). Furthermore, you'd need to maintain and develop the platforms of clients based around the world, as well as take charge of selling and pitching to new investors. Sounds like a lot of stuff on one plate? That's why this job role commands the second highest salary in the tech and digital industry!
We've reached the #1 spot, and what a hefty salary this highly-skilled individual will receive! And it's no wonder, because you'll be the one-person wonder who's a complete package of skills required to perform the operations, designing, developing, analysing, implementing, and supporting a distributed blockchain network. You're literally the expert mind behind the technology that powers cryptocurrencies and NFTs (Non-Fungible Tokens), so you're going to have to be familiar with various programming languages like Solidity, C++, Golang, and Java. Additionally, employers would expect you to already have prior knowledge of blockchain architecture.
If this list of the top 10 highly paid tech and digital jobs in Singapore is making you want to quickly start looking for available roles, WAIT.
First, you need to ensure that you’re adequately equipped with the skills and knowledge to perform at your best in this industry. You can do so by checking out all the job descriptions currently posted to see what hiring managers are looking for, and then cross-check with your own current skill sets. If you’re lacking in one or two, go take up courses and get certified, so that you can list them as strengths in the interview. Secondly, while getting theoretical knowledge is a good move, you can give yourself an edge over the rest of the candidates by getting some practical knowledge too. Get yourself some hands-on experience by joining internships, summer camps, and taking on small freelance jobs soonest possible.
According to Cham Hui Fong, deputy secretary-general, National Trades Union Congress (NTUC), employers and employees should constantly transform themselves so that they remain competitive and seize opportunities that come their way as the economy is recovering with the resumption of activities post-pandemic. This should lead to better business and work prospects, so that in the longer term, it leads to higher productivity and better wages.
With a charmingly quaint nickname like ‘The Fragrant Harbour’, this nation’s reputation as a global powerhouse in free economics and technology has been no secret for decades – they've had a reputation as the world’s freest economy for more than 25 years, holding on to that title since 1996 according to the Economic Freedom of the World 2021 Annual Report.
That’s not all, because Hong Kong is also the #1 financial centre in Asia. Did you know that New York, London, and Hong Kong are collectively known as ‘Nylonkong’, an acronym of the top three financial centres in the world? The Z/Yen Group and China Development Institute published their latest edition of the Global Financial Centres Index 31, which saw Hong Kong maintaining its third place in overall ranking in the world.
Now, there are many people who dream of being able to work in a career that they’re passionate about and will help them meet their career aspirations, as well as being well-remunerated so that they can fund their chosen lifestyles. So, if you’re a driven and skilled professional who’s looking for a chance to earn big, you’ve got your vision set on the right location!
This land of opportunities is obviously a very attractive prospect for ambitious foreigners, with its “fragrance” drawing in many of the top talent from far and wide. Luckily, Hong Kong has its arms wide open – assuming you have the right skill set. Let’s take a look.
You need to be aware that if you’re an expatriate who’s thinking of finding a job in the county, there are a few things you need to do first, notably obtaining your employment visa! There are a few that you can opt for: General Employment Policy (GEP), Admission Scheme for Mainland Talents and Professionals (ASMTP), Technology Talent Admission Scheme (TechTAS), Investment as Entrepreneurs, and even the Quality Migrant Admission Scheme (QMAS).
These schemes make it as easy as possible for you to get a job in the country, if you’re a highly skilled or talented individual in the right profession for their needs. They even have a Talent List website dedicated to clearly list the type of professionals they’re after. And if you notice, in the number of schemes listed above (taken from the official Department of Immigration website), there’s even one that’s been created specifically for eligible companies to admit non-local technology talent in the areas of artificial intelligence, biotechnology, cybersecurity, data analytics, and Internet-of-Things (IoT) to name just a few!
In addition, you also need to find out more about the Hong Kong government’s common employment practices, to ensure that they’re a good fit for your lifestyle. For example, as there’s no statutory standard working hour system or statutory maximum number of hours, working overtime without compensation is not uncommon. Furthermore, Saturday is considered a working day in many companies as well. Also, do find out about their taxation laws, so that you know how much of your salary is the take-home amount, and can adjust accordingly when it comes to negotiating with the recruiters.
Ladies and gents, we’ve now come to the meat of this article, and probably the main reason why you’re here! It’s time to find out which job roles would pay you well for all your hard work. The data was taken from GRIT’s latest Salary Report and Market Outlook 2022/2023, where the monthly salary ranges were derived from the knowledge of senior recruitment professionals within the GRIT teams, as well as latest data from multiple job databases.
Editor’s note: The list below has been arranged in ascending order, and doesn’t include roles that are of managerial level and above.
Download your own FREE copy of the report and find out more: Salary Report and Market Outlook 2022/2023
If you enjoy learning and building your own applications, why not consider this role? There are two main types of application developers: You'd either write workable programming code for a particular system such as Windows or Android, or across numerous platforms including computers and mobile devices. You become an important part of technical and/or project management teams, so polish those programming and related technical skills, in addition to your analytical capabilities and problem-solving skills. As you can work in almost every industry, that's where you can upskill and increase your value as an employee!
As technology now evolves at a breakneck speed, cybersecurity is becoming a real and very critical issue. Companies and organisations around the world are ramping up their efforts to protect themselves from cyberattacks, which is why this role is so in-demand now. You'd take on the role of both attacker and the defender in computer systems, networks, and software programs. Not only do you need to keep a client’s data protected and free from the risk, you also need to see what weaknesses there are and find out how to strengthen systems to prevent hackers from exploiting vulnerabilities.
Simply put: You’re an IT professional who works with developers and other IT staff to oversee code releases. The role of a DevOps engineer will vary from one company to another, but will always involve the understanding of the software development lifecycle, as well as the understanding of various automation tools for developing digital pipelines. In order to succeed, you need to have strong communication and collaboration skills, a solid understanding of all the components of a delivery pipeline, as well as to know the pros and cons of available tools and services.
Nothing to do with skies, a cloud consultant is generally someone who manages and deploys cloud infrastructure, according to each individual customer’s requirements. You'll be helping people in their planning, designing, and implementing the systems and services, in addition to providing ongoing support and maintenance once these systems are in place. Most people who pursue a career here would have a degree or Masters in computer science, information technology, or another related field. Furthermore, get certifications in different types of cloud services, systems, and solutions to prove that you're capable of handling the complex infrastructure.
First, let’s talk about ‘scrum’. This is an Agile (type of approach to project management) framework for developing complex projects, and allows teams to deliver high-value products by approaching problems iteratively. A scrum master is basically responsible for holding together the scrum framework, and ensuring a true scrum process over the course of a project. The results of the process depend upon the expertise of the Scrum Master, which is why he/she would need critical skills like problem-solving, adaptability, the ability to motivate, and communication. Finally, it’s also important to be proficient in specific technical skills related to Agile management.
This IT specialist is required to help his/her company in cloud adoption plans and cloud application design, as well as ensure a seamless migration to (and management of) all architecture in the cloud. You're going to need good knowledge about the concepts and moving parts involved in the integration and delivery process, because you'll also be working alongside DevOps engineers and developers as well as other members of the tech team (bridging the gaps between them) to ensure the right technologies are being built. Make sure your communication skills are top-notch here!
Sometimes called a 'company historian', this job role can sometimes be a bit difficult to define, because it straddles the lines between pure accounting, finance strategy, and leadership. You'd be running the accounting function, be responsible for the company’s ledgers and records, forecasting, as well as budgeting at the company level (based on accounting data). Phew, that's quite a lot! While it can vary among different companies, it's still important for you to have skills like strong leadership skills, interpersonal flair, excellent communication skills, and more than a touch of charisma.
These industries have long been filled with complex legal issues relating to regulatory status, compliance, corporate law, and anti-money laundering, to name just a few! So, if you're a legal counsel in the crypto/blockchain/Web3 space, you're someone who has a general background and understanding of related legal issues, as well as a deep understanding of the technologies that drive these industries and other related developments in distributive computing networks. Above all, you're not afraid of the volatility, and are able to think on your feet to navigate an ever-evolving regulatory landscape!
Here, you'd typically be responsible for developing and directing strategies to help a company restructure its business or establish strategic partnerships. This is done through mergers, acquisitions and divestitures. The goal is to improve financial performance, reach a greater level of organisational efficiency, and create opportunities to raise the company's value and competitiveness in the market. Essentially, you're looking to help your company outperform its competitors. You need to have a certain type of personality to thrive here, like being highly ambitious, outgoing, persuasive, and confidence-inspiring (all for obvious reasons).
Typically, a DevOps architect defines a systematic solution which fits best across the technical, operational, and management standards. You'd be able to generate an organised solution by examining the large system environment, and then selecting an application framework to deal with the difficulties in the given system. In this role, you must be capable of handling all the issues by implementing the strategies which are in line with the DevOps best practices. Generally, a DevOps architect must have prior experience in working as software developers and software architects, plus are expected to have more exposure to Agile methodology.
One look at this list of the top 10 highly paid tech and digital jobs in Hong Kong, and you might just want to jump right into hunting for your role immediately. But, WAIT.
You’re going to need to ensure that both your current skill set and experience level are what the government is looking for. Take a look at all the current job postings to see their descriptions, and what the recruiters are looking for in their ideal candidate. From there, you’ll be able to cross-check and find out if you can apply immediately, or would need to upskill or pick up something new. No matter if it’s the former or latter, it’s just a matter of taking up courses and getting certified, then you can further bulk up your resume. Another thing to do is to get some practical knowledge, on top of improving your theoretical knowledge (which is already a good move!). This is because you’ll become an all-rounder which would then give you an edge over the rest of the candidates, so don’t forget to also sign up for internships, summer camps, and take on small freelance jobs as soon as possible.
According to Zhou Xiaofang, Otto Poon professor of engineering and chair professor of computer science and engineering, The Hong Kong University of Science and Technology, the nation has an unmistakable advantage when it comes to nurturing innovative minds, thanks to some of the top-notch tertiary education institutions available. He also said that one way for the local talent pool to be strengthened is to offer more funding to universities to raise the student intake for tech and digital fields.
Since the pandemic's arrival, economic imbalances are occurring around the world; inflation is rising in many countries, while various bodies and experts are predicting a global recession. The phrase is currently trending in the media, but what exactly is this financial meltdown that so many people are talking about, and should we be concerned?
According to Investopedia, a recession is a period of declining economic performance that lasts several months across an entire economy. Businesses, investors, and government officials monitor a variety of economic indicators that can help predict or confirm the onset of recessions.
Forbes emphasised that a recession is declared when a country's economy experiences negative GDP, rising unemployment, falling retail sales, and contracting income and manufacturing measures for an extended period. The world has seen some major recessions in the past, and the five worst financial disasters and recessions in history, as listed by Live Science, are:
Furthermore, the most recent global economic crisis occurred in 2020, when the world was placed under a 'Great Lockdown' due to uncontrollable Covid-19 spread, which, according to the International Monetary Fund (IMF), will cause the worst global recession since the Great Depression.
The prospect of a recession is frightening, but several major events happening around the world are affecting the global economy, making an economic downturn highly possible. The following are some of the current tense situations, and how they may be causes leading to a recession.
Separately, the ongoing economic turmoil has been linked to a major cryptocurrency crash, which has resulted in the emergence of a crypto winter.
Coinbase CEO Brian Armstrong told CNBC that, “We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter and could last for an extended period. While it’s hard to predict the economy or the markets, we always plan for the worst, so we can operate the business through any environment.”
Global bodies and leaders such as the IMF, World Bank, and United Nations have forecasted the possibility of a recession. According to Reuters, the IMF's chief recently stated that the global economy has darkened significantly since April and that given the elevated risk, a global recession cannot be ruled out for 2023.
A post on IMFBlog mentioned that when the Group of 20 leading economies (G20) met in April, the IMF had just cut its global growth forecast for this year and next to 3.6%, and they had warned that the situation could worsen due to potential downside risks. Several of those risks have materialised since then, and the world's multiple crises have intensified, such as the human tragedy of the Ukraine war.
The aforementioned blog goes on to say that inflation is higher than expected, and has spread beyond food and energy prices. This has prompted major central banks to announce additional monetary tightening, which is necessary but will slow the recovery.
With the ongoing disruptions, recent indicators point to a weak second quarter – and a further downgrade to global growth for both 2022 and 2023. The outlook remains extremely uncertain, according to the IMF, and it'll be a difficult 2022 – and possibly an even more difficult 2023, with an increased risk of recession.
Similarly, the World Bank president told Fortune that “just over two years after Covid-19 caused the deepest global recession since World War 2, the world economy is again in danger”. He warns that for most countries, a recession will be difficult to avoid, and that there’s a possibility of stagflation (i.e., a recession accompanied by inflation).
According to the World Bank's June 2022 Global Economic Prospects, global economic growth is expected to slow before the end of the year, and most countries should begin preparing for a recession. Due to the weakened global economy following Covid-19, the World Bank initially forecasted a slower but still robust pace of global growth beginning in 2022. However, the Ukraine conflict has forced them to significantly reduce their projections to account for rising food and fuel prices, as well as disruptions to global trade networks.
Furthermore, the World Bank cautions that even a mild recession could have long-term effects on the world economy because current economic conditions could result in "stagflation," a state of low growth and high prices that's detrimental to the economies of developing nations.
UNCTAD also anticipated a possible impending recession. They claimed that, despite massive funding injections into major G20 economies, the world economy would enter a global recession this year, with a loss of global income in the trillions of dollars, which will be disastrous for developing countries. Given the deterioration of global conditions, fiscal and foreign exchange constraints are likely to tighten further this year. UNCTAD estimates that developing countries will face a $2 trillion to $3 trillion financing gap over the next two years.
They continued by stating that the combined effects of a pandemic and a global economic downturn would be disastrous for many developing countries, and would halt their progress toward the Sustainable Development Goals.
Many influential people and organisations in the industry have expressed concerns about the possibility of a global recession. According to Business Insider, some of the top CEOs in the United States are worried and predict that the economy will enter a recession. Here is what they have to say, along with some preparation advice:
Although many people think a recession is inevitable, some think things will calm down, and that one won't happen. The following experts and economists believe that there'll be no recession:
As suggested by the IMF, the world requires decisive action and strong international cooperation led by the G20. Whether or not a recession occurs, several countries around the world have taken extensive measures to control the dire situation that's currently taking place.
For instance, according to ABC News, central banks in New Zealand and Korea, have continued to raise interest rates to counteract rampant inflation. On July 13, the Reserve Bank of New Zealand (RBNZ) raised its benchmark overnight cash rate target from 2% to 2.50%, while the Bank of Korea (BoK) raised rates by 50 basis points to 2.25%.
In the United States, Federal Reserve hopes to lessen the impact of a recession by raising interest rates to achieve a 'softer landing' for the US economy, in which it can tame rapid inflation without increasing unemployment or triggering a recession. The Federal Reserve and expert forecasters predict that in 2023, unemployment will stay below 4% and inflation will drop to below 3%.
The economic downturn has affected all sectors, with many items increasing in price and layoffs occurring. The technology sector is not left behind, and it's likely to face significant difficulties in comparison to other industries.
According to Fortune, many of the tech names that dominated portfolios and outperformed for the majority of the last decade have seen their stock prices plummet in 2022. This includes the "FAANG" stocks of Facebook (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX), and Alphabet (GOOG) (GOOGL). FAANG stocks are down about 37% on average since the beginning of the year.
It's impossible to predict what will happen to many tech companies should a recession strike, which could ruin their businesses. Even now, Business Insider reported that stocks are falling, start-ups are failing, and a possible recession threatens tech titans that once seemed untouchable.
The tech industry is being impacted and responding in various ways to this tough economic situation. Let's take a look at how some of the businesses are faring based on their circumstances:
(Source: Channel News Asia)
The cost of living is anticipated to rise in 2022 as global economies teeter on the brink of the worst financial catastrophe in living history. You must've heard how difficult the Great Recession was for so many people back then. So, some preparation must be made to face the uncertainty of an impending economic downturn that could hurt so many people's lives.
Here are 8 things you can do to protect yourself during this uncertain recession storm:
Although the prospect of a major global recession is frightening and unsettling, it's important to remember that the situation will not last indefinitely. While doing your best to stay afloat, you should also be extra cautious and prepared for a sudden downturn. Above all, maintaining your mental health is critical to weather the storms of negativity.
Cryptocurrency is any type of digital or virtual currency that primarily uses cryptography to secure transactions, preventing counterfeiting and payment fraud to the greatest extent possible. Unlike conventional currencies, cryptocurrencies only exist as a decentralised blockchain-based shared record of ownership.
Since its inception, the use of cryptocurrency has grown at a rapid pace, especially in the progressing Web3 world. Because there’s no central issuing or regulating authority, the crypto market is known to bring about massive changes in the world of financial operations and transactions.
Nonetheless, even with so much opportunity and exploration on Web3, the volatility of cryptocurrency is no secret, and the crypto crash that occurred in the middle of 2022 has been widely discussed, analysed, and reported. According to Crypto News BTC, the wild price swings were exacerbated by the TerraUSD and Luna meltdowns, which are estimated to have wiped half a trillion US dollars (approximately €500 billion) off the sector's market capitalisation.
Plus, as evidenced by the industry's frostbite since last month, there's talk that a crypto winter has already set in. The term "crypto winter" is used frequently to describe a bearish cryptocurrency market. The last crypto winter, during which cryptocurrency prices declined and stayed low, lasted from early 2018 to mid-2020. And, it's happening again right now!
It's all over the news right now that the markets are suffering, and crypto is taking a particularly hard hit. Consider the first cryptocurrency, bitcoin, which accounts for about a third of the market's value. Since the end of March, the price of a single bitcoin has been gradually falling, along with a general downturn in the tech industry.
Then, in early May, it fell even more than it had in the previous month. In addition to bitcoin's negative impact on the overall cryptocurrency market, the other top coins, such as Ethereum, BNB, XRP, Solana, Cardano, and avalanche, have all seen even greater losses.
International Telecoms Business Magazine suggested that the five main reasons for the cryptocurrency crash, in which the lowest plunge hits an 18-month record low in overall value, are as follows:
Here's how the current prices of the top coins compare to their daily high points over the last few months:
|Cryptocurrency||Current Price (29 June)||One Week Ago (19 June)||One Month Ago (29 May)||3 Months Ago (27 March)|
Compared to three months ago, the prices for the five main cryptocurrencies above have fallen significantly. This demonstrates that crypto winter is currently in effect, as crypto assets are losing value in comparison to prior highs.
According to The Guardian, the crypto crash could be linked to ongoing economic turmoil, such as the recent drop in the price of technology stocks as a whole. The decline is the result of high inflation reducing the appeal of high-growth, low-profit investments; as well as a string of scathing revelations from the largest corporations, raising fundamental doubts about the extent of their potential future growth.
The limited supply of bitcoins, which makes them an effective inflation hedge, may lead supporters to portray their currency as a sort of "digital gold. In reality, however, the possibility of a digital revolution decreases as growth prospects worsen, inflation increases, and bitcoin prices plummet.
Moreover, the sector is being harmed by retail investors, who may be treating the crypto market as a platform for day-trading rather than a long-term investment to hold value. They learn to take advantage of the crypto volatility, and will quickly sell their coins if they see a daily increase in price.
Crypto traders must also pay attention to the movement of whales (i.e. people who create waves that cause a ripple effect among small traders), who can manipulate the market by increasing and decreasing prices. As reported by Analytics Insight, Ethereum whales have been making headlines since the recent crypto crash. Mostly because, despite being Ethereum whales they were mostly hoarding Shiba Inu and other cryptocurrencies such as FTX Token, Chainlink, Cardano, and Axie Infinity.
Due to the unregulated nature of the cryptocurrency market, there’s currently no declared direct connection between it and traditional financial institutions. And, while it’s evident that the regular economy can influence the movement of cryptocurrency, the reverse is not true. Thus, it’s unlikely that the crypto crash will have any effect on them.
The Guardian specified that the conventional financial sector has mostly avoided the cryptocurrency industry, and if they do consider venturing into it, they have done so with caution and have treated it as an investment opportunity with a commensurately high level of risk. Even if the entire sector vanished overnight, the potential for contagion (i.e. spread of an economic/financial crisis) would be limited.
The scenario example given is that, although the knock-on effect would have a significant impact on some conventional stocks (and investors in venture capital funds like Andreessen Horowitz's recent $4.5 billion round of investment in cryptocurrency companies may be wiped out), the systemic effects are highly unlikely.
However, the cryptocurrency market is still worth more than US$1 trillion, and losing that much money has a significant detrimental effect as a whole – even if it doesn't cause a bank failure on the scale of the Lehman Brothers collapse. It might start or intensify a recession, or it might cause another wave of more common issues like bankruptcies, insolvencies, and mortgage foreclosures.
There are two sides to what is happening in the crypto sector's employment market: The good and the bad.
As players prepare for a rougher ride ahead, the prolonged decline in cryptocurrency prices has resulted in an increasing number of layoffs and hiring freezes at crypto firms. Here are the cryptocurrency companies that have so far stopped hiring or reduced employee numbers:
Despite some businesses making unfavourable employment announcements, there’s good news for those looking to enter the crypto industry's job market, where opportunities still abound and job openings continue to soar:
Because of the cryptocurrency's high volatility, anything can happen right now; when the cryptocurrency price drops significantly, it can suddenly jump right back up. Given that the cryptocurrency industry has previously endured disastrous crashes, this is not impossible.
That is what sparked discussions about the market being in a "crypto winter" phase. At this point, investors may still have some hope as they simply choose to wait it out and expect the market to thaw.
When the bull market finally appears to be coming to an end, it'll likely be a good time for cryptocurrency businesses to focus on how to get customers more enthusiastic about the market, rather than remain sceptical. That being the case, there’s a very good chance that this unfortunate event will cause the crypto industry to become even more exclusive.
Nicholas Strange, the founder of Seattle-based hiring firm Crypto Talent, told CoinDesk that, “Going forward, crypto companies with viable use cases and utility will best survive. Many crypto firms have previously experienced downturns and have improved their treasury management. Additionally, quarter-over-quarter venture capital funding remains at all-time highs, and certain VC firms may use this downturn to continue funding promising crypto-related projects."
On the pessimistic side, the crypto winter this time may be different, and possibly not many of the smaller players will survive. According to The Guardian, the majority of cryptocurrency growth has come from attracting ever-larger numbers of new users. However, the most recent fall might be so significant and widespread that it’ll difficult to find any new entrants.
Additionally, those who keep their savings in cryptocurrencies will eventually need to sell to pay for their real-world bills, but won't be able to find a buyer. If everyone in the developed world either lost money in the crypto crash or knows someone who did, the pool of unsuspecting cash to buy in the next time around will be very small.
There’s also a notion among crypto firms that thousands of digital currencies will collapse. Several cryptocurrency industry players have told CNBC that thousands of digital tokens will likely collapse in the coming years, as will the number of blockchains in existence. Bertrand Perez, CEO of the Web3 Foundation, told CNBC that one of the consequences of the Terra issue is that there are now far too many blockchains and tokens available. This confuses users and poses considerable risks to them.
Brad Garlinghouse, CEO of cross-border blockchain payments company Ripple, echoed Perez when he said that "there will likely be mere 'scores' of cryptocurrencies that remain in the future". He was of the opinion that it's debatable whether we need 19,000 new currencies right now. Guggenheim Chief Investment Officer Scott Minerd added to the pessimism by stating that most cryptocurrency is "junk," but that Bitcoin and Ethereum will survive.
The good news is that, despite the uncertainty, some investors are continuing to pour money into the sector, indicating that people still believe the crypto market will improve. For instance, Andreessen Horowitz, the venture capital firm, announced at the end of May that it had raised US$4.5 billion for its fourth cryptocurrency fund, with US$1.3 billion going to seed rounds of start-ups and US$3 billion going to venture investments.
On the other hand, blockchain investor Fortis Digital Ventures is closing a US$100 million crypto fund that aims to close the gap between the traditional and modern finance sectors by facilitating blockchain investing through asset allocation, risk management, and position sizing in cryptocurrency.
Binance Labs, the venture arm of the world's largest cryptocurrency exchange Binance, has also raised US$500 million for its debut start-up fund, with plans to invest in companies developing "Web3." All these investments could be the secret weapon against the crypto winter.
Even if the current situation appears to be dire, it may provide an opportunity for investors and crypto industry participants to learn from their mistakes, devise better next steps, or find ways to improve internally.
Masha Boone, VP of people at NFT exchange Rarible, predicted that the recent market volatility and resulting layoffs would likely continue into this summer. "However," she continued, "it’s important to recognise this as an opportunity to reflect on what is needed in the crypto space and reconsider where the industry is headed from here." Thus, the company took advantage of the upheaval to strengthen its internal development and product teams.
There are no guarantees when it comes to crypto investing in the coming months or years because of its unregulated and volatile market. And many concerns remain, including:
(Source: The Times)
Furthermore, National World reported that Kevin Brown, a savings and investment specialist at Scottish Friendly, advised against investing for anyone who doesn't understand the market, even though the price of Bitcoin has increased by 65,800.91% since February 2014.
He stated, “The level of volatility means that savers who choose to invest in cryptocurrencies must be prepared to lose all their money.”
As previously stated, despite the recent crash and numerous layoffs, there are many job openings in the crypto market, and anyone meeting the necessary qualifications should still consider applying. According to Cointelegraph, while Silicon Valley has faced a string of firings, crypto jobs are still growing rapidly.
Neil Dundon, the founder of Crypto Recruit, told Cointelegraph that hiring in the cryptocurrency industry has not slowed down and that business is brisk as ever. He added that previously, when the price of Bitcoin falls, hiring in the cryptocurrency industry tends to halt immediately. The hiring market is stabler now that cryptocurrency companies are managing their treasuries in a much more responsible way.
This indicates that demand for jobs in the sector is still rising, and a lot of job seekers continue to view the sector as one with room to grow. It's important to note that the crypto sector outperformed the broader tech sector, which also experienced remarkable growth and saw a nearly twofold increase in job postings.
Plus, it can be financially rewarding to work in the cryptocurrency and blockchain sectors. For instance, the average Web3 non-tech salary ranges from US$74,000 to US$115,000 annually, whereas the average Web3 developer salary ranges from US$100,000 to US$142,000 annually.
Finding a job in the crypto world, however, might not be as easy as doing so in the economic mainstream. CoinDesk revealed what it takes to land a sought-after job in the cryptocurrency industry, which are:
It's also advisable for novices interested in crypto work to try getting an internship, volunteering, writing, tweeting (as many crypto big players do), using other social media platforms, as well as participating in crypto events and clubs. Simply ensure that all your activities are crypto-related!
To begin with, one must be passionate and ever-curious to enter or remain in the rapidly evolving crypto sector. The industry provides opportunities for both technical and non-technical roles, with each job position requiring specific skills and experience. While they may not be the same, the top skills required to enter the crypto job market are as follows:
|Hard skills||Soft skills|
|Understanding blockchain||Willingness to learn|
|Coding and smart contracts||Creativity|
|Cryptography and security||Collaboration|
|UX design and web development||Adaptability|
Landing a job in crypto also necessitates demonstrating some experience that reveals a level of understanding of the market, and the ability to navigate through the space. The best way to proceed is to simply go on there and engage in various cryptocurrency activities such as leveraged trading, flipping NFTs, collateralising assets and borrowing, yield farming, plus many others.
Another way for employers to learn about a person's crypto experience is through the individual's on-chain resume, which is essentially an e-wallet. This on-chain resume will demonstrate involvement in the crypto world by providing information such as blockchain activities, content creation, previous investments made, and NFT collection.
As evidence that working in the crypto sector provides the best future job opportunities, the best talents and high-profile employees from Big Tech are transitioning into crypto, blockchains, and Web3. Here is a list of some of the significant individuals who have transferred.
Furthermore, a study shows that 94% of cryptocurrency investors are members of Generation Z or Millennials, a group that is more likely to view cryptocurrencies as potential sources of retirement income and even employment.
Exploring and working in the crypto space can result in a lucrative return in addition to gaining a wealth of new knowledge and information daily. However, the volatile market brings with it a slew of risks that may or may not be avoidable. Be prepared with the following tips to be able to handle the uncertainty that can come knocking unexpectedly:
To safeguard jobs in the industry:
To find a career in the industry
Congratulations, you've received that coveted interview call! Now, if you aren’t scared of blowing your chance, do you even want that job? It’s natural to feel nervous, scared, tensed, and all kinds of jittery before attending an interview, especially for a job you really, REALLY want. And it doesn't matter if you're an experienced professional or fresh graduate, interview sickness is as real as Covid-19!
If you aren’t new to interviews, rewind to the time when you were preparing for your very first interview. Probably the only things that you'll be reminded of are the panic, rush of adrenaline, and nervousness that you felt. If you're a fresh grad, you may possibly be feeling it now while fielding your first interview calls.
But in the haste of securing a job, interviewees disregard the main criteria that an interviewer looks out for, resulting in rejection. If you think that these only include your skills, knowledge, education, and work experience, think again. What you say, how you say it, and also the kind of body language that you exhibit is equally important, if not more.
For instance, if you're someone who's always extra careful about everything, your drawback may be being too self-conscious and reserved, and can be one of the main reasons why you don't/didn't land that job you so wanted.
Remember this when sitting for your interview: The interviewer has loads of experience with people like you. Thus, even if you try your utmost to not display any signs of discomfort or nervousness, the interviewer may pick up on the little details (like incessantly bouncing your leg), and tick off your name from the list of potential candidates.
Don’t be disheartened, we're here to your rescue! Be prepared with the interview questions, know what the interviewer is looking for, and most importantly, know your own strengths and weaknesses.
We're listing eight possible candidate red flags in this article so that you know about them, and do your best to steer clear of them during your interviews to get the offer you've been dreaming of.
If you cram your mind with too many do's and don'ts, you're bound to get confused and mess up many of them. But practice makes perfect, and practising for an interview by keeping the following red flags in mind will definitely ensure you ace the interview, and secure the job you've been aiming for.
The quote “first impression is the last impression” is all too true when it comes to creating a good impression on your interviewers. The first and foremost thing to keep in mind is to arrive on time.
Not being punctual is hugely looked down upon, and can be one of the primary reasons why you fail to move beyond the very first interview round. Arrive earlier if you can, so that you get time to calm your nerves and maybe fix your appearance.
Thus, in order to avoid messing up your chances at an interview, it's advisable to leave for the destination with an hour or two to spare so that even if a traffic jam decides to "surprise" you, you have ample time on hand to not be late for your interview.
A job is not given to you based solely on the answers you give during an interview. Your entire presentation plays a huge role in determining if you're successful or not. With that being said, paying attention to your wardrobe is highly recommended. A candidate dressed appropriately stands a better chance at the interview, than one who looks like they're shopping at the local grocery mart.
Moreover, giving off an air of someone who's put-together (you've got everything under control!) is extremely important. Even if you're nervous, your interviewer doesn't need to know about it. Choose to wear something casual formal or a "power outfit", and constantly maintain a confident attitude. Show your interviewers that you're eager to make a good impression, and the first impression they'll have of you is from the way you've presented yourself.
It's not unbecoming if you take some time before answering a question posed by an interviewer. Rather, it's better to articulate an answer in your head before choosing to speak, than fumbling while trying to look for the right words. This may signal poor confidence and can only be resolved if you keep your cool while trying to formulate a proper answer, instead of stammering through one.
You also have the option of owning up to your lack of knowledge regarding a certain topic. Interviewers don't expect you to know everything, but they do expect honesty and responsibility. So, politely letting them know that you don't know a certain thing but are eager to learn, will actually earn you brownie points!
No workplace promotes bad mouthing and criticism, and should be strictly avoided if your aim is to succeed at the interview. But if you have to, you can try to use positive words to explain your situation. Suppose you were hired in a place that completely blocked any progress. You can frame the situation better by saying how the new job role will have more room for your growth, and you're looking forward to progressing with the new team.
Money can definitely buy you happiness, but prioritising it over your contribution to a company can lead to creating a poor impression with your interviewers. Instead, you must state having a clear objective of being a valuable asset to the company, as well as contributing to its progress and growth. If an interviewer doesn't observe any sign of interest apart from the salary and the benefits offered, they're bound to put you aside from the list of eligible candidates.
If any hint of rudeness or inappropriate behaviour is detected, you can consider it a given that you stand no chance of seizing that job opportunity. An interviewer will also see through a candidate who is appearing to be overly enthusiastic. Such behaviour will definitely not be constant throughout their tenure with the company, and will definitely be considered overcompensating. Don’t be too eager to please, but don't try to act too much of a smarty-pants either. Just be polite and professional, and everything will fall into place.
As extensive as your research was, it's impossible for you to emerge from an interview with zero questions. An employer will be looking forward to any enquiries that you have, and when you fail to ask any, the immediate impression that follows is that it may be an indication of your inability to grasp the purpose of the interview, or even a lack of interest in the job.
Make a list of questions when preparing for the interview that's related to your role or the company. But don't go asking the entire list of questions! Ask ones that've not been answered during the course of the interview already. Also, make sure the question(s) shows your eagerness for the job. One example of a good question is, “How do you see my role contributing to the growth of the company?”, whereas one example of a bad question is, “Is the salary negotiable?”
If you're easily distracted by anything happening around you (please don't keep checking your phone!) or fidget constantly, the interviewer may arrive at the conclusion that your attention span is extremely low. Instead, try to focus on the conversation, and concentrate on framing your answers in the right way. Sit straight and look at the interviewer when they're speaking and also while answering. Smile, you're not at the gallows (although it might feel like that!) to show your confidence and that it's a pleasure to be in their company.
Sitting on the opposite side of the table doesn't make anybody perfect. As a potential candidate for a company, you must be aware of a few red flags that your interviewer may exhibit, which, if ignored, can prove to be a tenure in hell because bad jobs can suck the life out of you, and negatively impact your mental health!
If you've applied for a position at a company, you deserve to know the details about the role for which you will take up the responsibility. If the interviewer keeps on beating around the bush and avoids any specific details regarding the particular job, you must give it a second (or even third) thought, in order to decide whether such uncertainty is worth it.
Sitting for an interview is an extremely formal setting. While you're not allowed to speak ill about your former job, it's very unbecoming of the interviewer if they happen to do the same. If they bad mouth any employee or the company itself, it's a major red flag indicating an extremely toxic atmosphere.
Just because you've chosen to be a part of the professional space of a company, they have absolutely no right to probe deep into your personal life. If any question seems a little too personal (for e.g.: "Do you have kids/planning on having kids?"), you must protest at once. An interview should clearly be in line with the requirements of the company and the job you've applied for. Our suggestion? If an interviewer tries to get too up close and personal, run and don’t look back!
It's quite strange if an interviewer doesn't even glance at your application in order to know your name at least. But, don't let this ruffle your confidence. Use their ignorance to your advantage, and discuss things that'll highlight your skills for the job role. However, if they still seem reluctant to discuss your achievements or background and don't bother to get to know you at all, there's definitely something fishy. Maybe they already have someone in mind for the post, and the interview is just a formality? You never know! Just don't get your hopes too high if you face something like this at an interview.
Getting your dream job isn’t all that difficult. Because, as we said, it’s not always about just skills, knowledge, education, and experience. You can beat the competition and ace the interview with flying colours by steering clear of the eight red flags mentioned in this article.
Also, ensure that you seize only the best opportunities and not get sucked into a toxic workplace, by keeping in mind the four red flags to watch out for while you're seated opposite the interviewers/hiring manager.
So, what are you waiting for? Apply for that dream job of yours and impress your interviewers. It’s only a matter of time till that offer letter will have your name printed on it, good luck!
The ever-changing world we live in is not only physical, but also online. Who would've guessed that by 2020, we'd still be waiting for flying cars, but life online has evolved tremendously? There are even people who prefer to "live, eat, and play" digitally! It's like having a second life, but in a different dimension.
This is where the future of internet, Web3, will come into play. According to The New York Times, Packy McCormick, an investor who helped popularise Web3, has defined it as “the internet owned by the builders and users, orchestrated with tokens.” That essentially means you're the sole owner of any digital assets you possess, and whatever you own in that world is not regulated by any authority.
Wondering what is it about this term that has made it so popular lately? Coined in 2014 by Gavin Wood, one of the co-founders of the Ethereum cryptocurrency, 'Web3' began to gain traction in 2021 with the emergence of new digital businesses and an increase in the number of people venturing into the digital space.
With all of the hype, developments, and technologies revolving around this new internet, it's easy to say that Web3 is a trend that will not go away. To remain relevant and competitive in the online world, we must adapt to Web3 in the same way that we did with Web1 and Web2.
What we have online now is vastly different from what it was a decade ago. Going digital has resulted in a plethora of new types of work opportunities, where people can earn money in cryptocurrency – the only currency used for Web3 transactions! After all, whether an industry is online or offline, it requires experts and skilled workers to keep it running.
It has been reported that the cryptocurrency industry is in a hiring frenzy. Since more people and businesses are using digital currency, there's a growing demand for jobs in cryptocurrency development, support, and trading, as well as blockchain solutions. The crypto labour market rose as workers sought to supplement the new world of work and earning in cryptocurrency.
So, what does it take for you to work in this new digital world? Just like any other job, it all starts with a strong resume. In this case, it's referred to as an on-chain resume. Wait, what?
As previously stated, the new internet is built on a crypto layer. All Web3 content is encrypted and stored on a blockchain, so all online data becomes on-chain data. Hence, the name on-chain resume because, unlike a traditional resume, it's generated automatically based on your online activities in the crypto or NFT space.
The on-chain resume is essentially your e-wallet, which clearly records your information as well as all transactions made on the blockchain. These are the activities that are considered verifiable, and can be more valuable than a piece of paper proclaiming your qualifications and education.
You no longer need to worry about how to format your resume, or what skills, work experience, and education to include. You don't even need to search through dozens of templates to see which ones fit. Nope, you can say goodbye to all of that!
The on-chain resume demonstrates that you're involved in the crypto world. Specific employers would demand this new type of resume to find out what you've been up to on-chain. From there, employers will determine whether you're qualified or not based on your first-hand on-chain experience.
Your personal public key is all that’s required (which is like your bank account number). Employers can glean the following information from that number:
If you want to be a part of the crypto community, this on-chain resume is a way to demonstrate your crypto expertise and skills. Employers want to hire someone who is not only capable of doing the job but also familiar with the space. An on-chain resume can demonstrate a wide range of things, such as:
Your crypto wallets demonstrate your judgement, capabilities, and engagement. It's similar to a dynamic resume that enhances depending on how well you use the world wide web. That’s what employers look for when interviewing potential employees.
The credential building is essential in any job, and the crypto space is no exception. This method of creating an on-chain activity resume will introduce you to a variety of web3 technologies while also providing you with a thorough understanding and appreciation of the industry.
Because an on-chain resume cannot be changed, your background will not lie, and this authenticity can be crucial for landing a crypto job. Just as you would rate your skills on a regular resume, what you do on the network demonstrates your level in the crypto space. This applies no matter whether you're a beginner, intermediate, or advanced player.
So, how can you create an on-chain resume that will land you the job? Here are some amazing suggestions from Bankless:
These may appear to be a lot, but once you get used to them, you'll be rolling in the crypto space with no one stopping you. Just keep in mind that you do not have to complete all three levels overnight. Take things at your own pace.
The most important thing is that you understand what you're doing there. For your convenience, the activities described above are listed below:
|Level||Activities in the crypto space|
|Beginner||Set up an ENS nameOpen a Maker Vault Donate on GitcoinMint an NFT / collect an NFTProvide liquidity on Bancor Trade on UniswapTrade on Matcha|
|Intermediate||Open a Liquity Trove Earn yield with a Yearn Vault Provide liquidity on Uniswap V2 Use DeFi smart tools like Instadapp or DeFi Saver Save with mStable’s Save app Trade on Loopring’s L2 exchange Bridge assets to the Polygon sidechain|
|Advanced||Open a Rai SafeProvide liquidity for Uniswap V3Write a governance proposalCurate an NFT gallery Use a flash loan via Furucombo Use Yam Synths to speculate on Ethereum gas Stake SNX on Synthetix|
You can also complete multiple activities in a single session rather than having to switch between platforms. RabbitHole is one of the best for assisting in the development of on-chain resumes through "quests."
Some people are concerned about the wallet's (or should we say, on-chain resume's) public visibility and inability to be altered. Fortunately, there's a way to strike a balance between what makes a good on-chain resume and keeping your digital assets private.
It's imperative to utilise a wallet that maintains the protection of your crypto portfolio while developing your on-chain resume. Private assets, on the other hand, should be kept in hardware wallets, smart wallets, or a combination of the two.
Since your on-chain resume will be available to the public, define your goals for your wallet. If you intend to enter the world of work crypto, ensure that your transactions are suitable for viewing by potential employers. Below is an example of an on-chain resume:
Here are some benefits and drawbacks of building an on-chain resume, primarily for those seeking employment in the crypto space.
Whether or not you should create an on-chain resume is largely determined by your perspective on the crypto world. It's fine if you choose not to create one, if it's not something you want to explore or participate in.
However, given the possibility that Web 3.0 may become the internet of tomorrow, NOW is the best time to start building your on-chain resume. Whether on Ethereum or any other preferred network, building a strong on-chain resume will open doors to both on-chain and off-chain opportunities in the near future.
As this major technological revolution is still in its early stages, more changes are on the way, and much more research is required. Standards, as well as a solid decentralised digital infrastructure, will need to be established. Policies must also be implemented where necessary. Although we're all excited about the massive changes and online freedom that are about to take over the digital world, it's best to be extremely vigilant of this unregulated industry for the time being.
Web 3.0, on the other hand, is widely regarded as the next big thing on the internet, and now is the ideal time to begin creating your portfolio and position yourself as one of the first. Obtaining an on-chain resume essentially entails you experimenting with the space. Thanks to a range of networks and endless possibilities, it's never too late to build your own on-chain resume!
Believe it or not, the phrases 'Summa Cum Laude', 'Magna Cum Laude', and 'Cum Laude' are not actually spells from Harry Potter.
They're known as Latin honours, and represent varying levels of high academic achievement at a university level. As a fresh graduate, listing Latin honours on your resume can be the difference between getting hired and securing a dream job.
These honours are an excellent indicator to prospective employers that you're not only able to achieve high levels of excellence, but are also motivated to succeed. So, what’s the difference between Summa Cum Laude and Magna Cum Laude? And when should you use them in your resume?
Since rarely anyone in this day and age actually speaks Latin, it’s probably for the best that we define what all these Latin honours actually mean.
First off, Summa Cum Laude roughly translates to "with the highest honour" or "with the highest distinction". Both terms are interchangeable as universities around the world use one translation or the other.
While the translation may differ between universities, the level of the Latin honour does not change, with Summa Cum Laude being the highest academic honour that can be bestowed upon a graduate. The criteria for achieving Summa Cum Laude, once again, varies based on each individual university, but it is generally awarded to the top 1% to 5% of graduates.
Magna Cum Laude loosely loosely translates to “with great honour comes great responsibility” or “with great distinction”, and is the second-highest honour that can be awarded to graduates upon completion of their respective degrees.
Even though Magna Cum Laude is ranked below Summa Cum Laude in terms of academic achievement, it doesn't mean employers will not be impressed by it. Being awarded a Magna Cum Laude is no easy task as only the top 10% to 15% of graduates will receive such an honour.
Any holder of a Magna Cum Laude is without doubt part of an elite group of graduates who are very much sought after by employers all around the world. But still, don’t beat yourself up too much for not being a know-it-all like the folks in the category above, you’re still one smart cookie!
As mentioned above, there are a few differences between the Latin honours, and if you read the paragraphs but are still a tad confused, here’s a simplified TLDR table for you:
Latin honours aren’t the only honours awarded by universities. Some may also give students other awards, along with the Latin honours (to further boost their confidence, so to speak). Here’s a list of other types:
This award is for the recognition of the highest achieving students at a university, and is usually awarded based on a student’s GPA or CGPA.
Reserved for students that are working on special projects, or are enrolled in honours courses which are higher-level and aren't covered in the regular courses.
This award is based on how many courses are completed for credits and grades. Students with a GPA of 3.5 to 3.9 may earn academic distinction, while students with a GPA of 4.0 may even be awarded the highest academic distinction. Basically, it’s just like the Latin honours but not in Latin. So, English honours?
These two are awarded to the two highest-achieving graduates. The valedictorian is the student with the highest academic achievement, and the salutatorian is the second-highest achieving student.
This award is a scholarship for exceptional secondary school students. It usually includes funding for tuition and course materials, and may also include living expenses.
Including your Latin honours on your resume is a rather simple and straightforward way to show off/highlight your academic achievements to potential employers and recruiters. There are several ways to include said honours in your resume.
Here is an example of how to list your Latin honour in the degree line of the education section of your resume:
National University of Singapore, 2017 - 2020Bachelor of Technology (Software Engineering), summa cum laude
Here is an example of how to list your Latin honour in a separate line of the education section of your resume:
National University of Singapore, 2017 - 2020Bachelor of Technology (Software Engineering)Honours: summa cum laude (GPA: 3.90)
Here is an example of how to list your Latin honour in an awards and honours section of your resume with other academic achievements:
Awards and honours
Other relevant awards and honours (the word relevant is in bold on purpose, there really is no need to include your best scrapbook award in school)
Here are some other tips for listing your Latin honours in your resume:
As much as we’ve been giving graduates with Latin honours a hard time, listing them on your resume can really set you apart from other candidates vying for the same job, as it shows employers your commitment to success as well as highlight your exceptional work ethic, motivation, determination, and self-discipline.
The fact of the matter is, it's very impressive having all these; not many people have them, and it’s something worth including in your resume. Here are some other reasons why you should include them in your resume:
Latin honours are an excellent way to increase the prestige of your resume. However, it's not the be-all and end-all of securing your dream job (it does help though).
Prospective employers will also look at other relevant information such as previous work experience, personal and professional skills as well as how you can communicate and carry yourself in an interview. It's also important to constantly improve your career-related skill set so you are always up to date with the developments in your respective field.
So to sum this up, if you have a degree with Latin honours, by all means, use them in your resume. If you don’t, fret not; there are plenty of other ways to spruce up your resume to impress potential employers.
While a well-presented, typo-free resume is a great starting point, it's not the only thing you should consider when applying for jobs. Our tips on how to ensure you're properly prepared for an interview means that as soon as you've got the call from the hiring managers, you're ready to roll right in and impress them!
When a company plans to recruit a new employee, the first thing they look at is whether the person is fit for the particular role, and if they'll be able to gel easily with the organisational culture.
The first impression that your profile gives, as well as your own competency, will be evaluated once the hiring managers go through your resume. That's why it's important for you to showcase your personal traits in your CV, in addition to your technical skillset to set a good first impression!
Including your personal attributes can help you get an advantage over other candidates with a similar skill set. For example, skills include problem solving, coding, or typing which people usually do in a certain and contextual situation. Attributes, on the other hand, relate to how a person behaves or reacts in a new/stressful/challenging situation. Some examples include confidence, ability to easily communicate, punctuality, etc.
Recruiters do consider personal attributes in addition to a basic skill set, to ensure that the candidate can handle different unforeseen situations that might come up during work. Personality assessment tests (such as this one) give a better picture of behavioural tendencies of the candidate, which can be an added boost for them to excel in their career. Moreover, these soft skills are relevant in building relationships, group dynamics, and teamwork.
The organisation always needs someone who can be trusted in any crucial situation. They'll have to share confidential information in many cases, and having a reliable and trustworthy person in the team can be very beneficial for handling many tricky situations. Show them that you're honest through your actions, and that'll be sure to give you bonus points!
Having this ability can make you a good fit for any organisation. The ultimate role of any job is to think up of solutions (sometimes on the spot!) in one way or another. You can quote examples of how you identified problems before it got worse, and how your timely actions helped your company to meet the goal on time.
Having leadership qualities can make you more productive, able to motivate others, have great vision, and no need for micromanagement, even when you're working within a team. Try to include a role you held in the past which can showcase your leadership ability, whether it's with your previous employer or even a small example of what you did in your school/college.
Being accountable matters a lot when you're part of an organisation. This makes you a dependable person who can be entrusted with various tasks that come with risks. You can quote an example of how something went wrong in your previous role, and how you were honest and accepted that it was your actions which caused the mistake. Bonus points if you also include what you did to resolve the situation!
An ideal candidate should be able to handle different roles within an organisation, and sometimes contribute outside their jobscope/comfort zone for a larger cause. You can highlight your flexibility by mentioning the different types of roles you've handled throughout your career, and how you contributed outside your role to work towards a common team goal.
The definition of being creative can be about being innovative, as well as approaching solutions and situations differently. Having this trait can mean that the employee is able to help the team think outside the box, and as such, he/she can be a boost to the team with enhanced productivity. Use your portfolio to showcase how your previous employers benefitted from your creativity.
Staying updated with the changing trends in the industry and doing what's necessary to upskill yourself, can boost your profile and give you more opportunities. Your trait of wanting to expand your horizons can be showcased by statements like "looking for a chance to explore more areas", or even "learn more and grow professionally".
An enthusiastic person who can single-handedly work on projects, give insights, perform analysis, and do what's necessary to improve the next time will definitely get noticed!. So, when talking about previous accomplishments, try to include terms like self-driven, passionate, or determined, which can highlight this ability in you.
Being a team player can help you to easily gel with any group of people, no matter their backgrounds. In addition, it'll allow you to coordinate in problem-solving, share tasks feasibly, and work towards a common goal together. Employers always prefer a person with teamwork skills and including this trait gives you the upper hand.
This is one of the must-have qualities for any role, and this can complement your ability to work in any stressful situation and meet tight deadlines. You can include examples of how you handled customer pressure in your previous role (or even stresses from your boss!), and the way you managed to complete the project on time and within budget after crossing all the hurdles.
Including your traits in the CV can be a lot more tricky than it seems in the first place. You have to include it as part of the profile story, without giving the feeling that you've purposefully stuffed them in. Indirectly showcasing your personal traits without affecting the flow of your story is the key.
Let's have a look at the sample CV of a digital marketing specialist. In the personal profile section, you can include statements like:
In the skills section, try to include points like the following:
In the employment section, you can include traits similar to what is listed:
An excellent CV is half the job done, and that's why the key is to seriously invest some time for it, more than preparing for an interview alone. A good CV should talk more about the top qualities in you, and how you'll be an asset to the organisation.
As we've discussed earlier, the best part is to carefully and successfully do storytelling on your resume, while indirectly showcasing your personal qualities. Of course, you can express more about your traits during the interview process.
However, it's important to understand that your CV is the first step towards your dream job, and passing this hurdle only opens the door for the next round. First impression matters for any selection process, which explains why your resume can make or break your chance.
It's not just the job skills that you need to successfully market yourself to potential employers. You also need to have the right interview skills and a great cover letter.
This is where GRIT’s resume writing and job search tips can help! Here are some articles that will help you understand how to craft a great cover letter and how to prepare for an interview. Best of luck!
De-what? Designer? Nope. The word of the day is 'Designation'. It's an integral part of your resume; something you’ve got to add in. Having a designation will ‘level up’ your resume; so much so that interviewers will be wanting to have a chat with you. We’ll be going into detail about this word, and why it's important for everyone to put in their resume.
Vocabulary.com describes designation as 'a title, official or otherwise'. In your resume, that would refer to your professional job title, or a specific post you’ve held before i.e., Manufacturing Engineer.
Boston University, in its faculty handbook, mentions designations as part of a professional academic setting. A clear example of this is the designation known as ‘emeritus’. No, this isn't referring to a bishop, this is an academic emeritus! This designation is intended to recognise academicians for their lifetime contributions to their university or field of study/research.
Whether a fresh grad or a seasoned professional, putting your job designations help you stamp your mark, and make you stand out among the crowd.
So, at this point you’re probably asking, "Is there really a difference between a designation and job title?", to which we say, "YES!"
A job title is only a ‘scratch the surface’ type, and doesn’t show the actual work/responsibilities you’ve done. This means that ‘job title’ is simple, meant to fill papers, and just gives a rough idea of the work you do.
Countries like India, Malaysia and Singapore use a grading system to categorise job duties, tasks, and pay scales. This is where one's designation comes in. Certain private companies with high job structures would employ this method as it consolidates the payroll scheme for the HR & finance departments. In government application forms, there’s usually a designation for your previous work/education experience. It's usually a grade attached to the title, with the grade being the designation.
Another example is the title of 'Senior Lecturer' or 'Master Lecturer'. Generally, a Senior Lecturer or Master Lecturer has met the requirements for working as a Lecturer, and has produced excellence in teaching for a minimum of five or ten years, respectively.
This type of designation highlights the individual's past work, achievements, pay scale, and responsibilities summed up in one designation. Compare it with a job title like ‘e-Commerce Executive’. Sounds fancy, but it doesn’t really tell readers what the executive actually does.
Here’s another key difference between designation and job title: Your ‘job title’ might not be the same as the one put in your payslip. Usually, the title given in your payslip would be your designation. Be sure to note and put that in your resume when listing your work summary.
There are a few factors that make designation a ‘must-put’ in your resume. One reason is to give the interviewer a clear view of your tasks and skills to see if you’re a correct fit for their current vacancy.
Designations allow your application to be screened better and give the HR department of the company an idea of what salary package would fit you. This also gives clarity on your tasks and roles in your previous job that will help the company consider you better.
The designation also refers to your professional work qualifications, work certifications, and may come with licences. An example of this is the WSQ Operate Forklift certification in Singapore. Individuals who possess this cert are qualified to operate forklifts, and are equipped with the necessary skills to do so. Thus, it's crucial that you list your designations in your resume.
So long as you include the designation in your resume, you’re guaranteed to grab the interviewer’s eye. Here are some places you can insert yours.
Placing your designations beside or below your name will definitely bring attention to the reader. Chartered Financial Analysts (CFA) usually include their CFA designations beside their name.
If you’ve achieved your certification during studies or during your work period, it would be suitable to add them into your work or education summary for clarification. This applies to designations achieved through specific work or study.
You can also put a list of designations in your resume to list out multiple designations you may have achieved in your work/study profile. Just be sure to make the list clear and concise, so as to not create confusion.
Professional designations are easily read up online, so don’t be afraid to put a designation in your email address. This gives the impression that you’re committed and proud of your achievements, as well as a professional setting that will attract potential hirers.
Quick tip: Here’s a sample of a designation in a resume.
A good resume has everything required in the simplest and most succinct manner possible (to make it easier on the eye), therefore make sure to add to your resume the other good stuff. We’ve included a short, but complete, list below for you to check out!
You’ll be expecting a call and/or email, so you definitely don’t want to give them the wrong information!
Placing these shows the application agent that you have the necessary qualifications for the job applied.
Most employers prefer someone with work experience, so list them down if you have any.
You volunteered at a public event? Donated blood? Won a public speaking contest? List them all down! This makes your profile attractive and personable, and that makes for an awesome work colleague. That’s every interviewer’s sweet dream!
Things like compiling and consolidating information, good oratory skills, any additional languages spoken, will enhance your work performance which is very appealable to your potential employer. They like you if you know how to work with the entire Microsoft Office suite!
If you’ve done all the above, and you’ve included your designations and references, then you’re all prepped for the interview. Have a mock interview with your friends or family to get used to being in the spotlight. We find this helps a lot of applicants get over their nervousness.
Most importantly, BELIEVE IN YOURSELF! You’ve worked hard, you’ve shown your worth. Reflect it when you speak, show the interviewer what you can and will do! Be confident and blast through that interview.
Whether you're looking for a first job, better opportunity, or career change, the job search process can be daunting. You're not only scrolling through a long list of available openings, but you also need to update your resume (adding all of the necessary information to suit your job application), in addition to writing a good cover letter that you're confident will land you an interview!
Of course, you won't be applying for just one vacancy. This is because experts advise active job seekers to apply for as many as they want (and can apply for) with quality. After you've submitted your resume and cover letter to several companies, the real waiting game begins!
First, you wait for that call for an interview and when you finally get your date, you’ll probably go all out preparing to face the interviewer(s). Then, on the day of the interview, you give your best shot, hoping that it’ll be enough to secure you the position. In the end, they’ll tell you to wait for their calls, and will inform you of their decision.
Second, and lastly, you wait and wait for them to call you, only to be told that you've been rejected! That is IF they call you; if you don't hear from them after a few weeks, you can take it as a sign that you aren't getting the position.
If you’re wondering “Why do I keep getting rejected?”, don't be downhearted. The reality is that it's what happens to the majority of interviewees, because most companies are only looking to fill one vacancy at a time, and it has been reported that more than half of all candidates are rejected at the first interview stage.
To avoid making the same mistakes, read on to learn what are the most common reasons recruiters reject certain applications. With this guide, you'll have a better understanding of what's going on in the world of hiring, and will be better prepared for the next one.
Since there are numerous reasons why recruiters may reject you as an employee, you'll find them divided into 2 categories below. There’s also a proposed solution for each one to address the issue, and improve your chances of getting hired.
When you're tense or in a rush while filling out a job application, you may overlook some of the details on the form, or provide an inaccurate response. HR teams receive a large number of resumes from various applicants. As a result, they must first filter through the applications before deciding which ones will be invited for an interview. During this stage, applications with errors are filtered out and rejected.
Solution: Take your time when filling out any job application, be it online or offline. Read through the form carefully, and jot down the important parts that’ll require you to gather information and put your thoughts together. It’d be preferable if you could answer each question on a separate sheet of paper, before writing them on the actual application. After you’re done, make sure to double, triple, or quadruple check (the more the better!) your application to ensure you haven't overlooked anything, and that you've provided all of the required documents/work portfolio. By doing so, you’ll reduce the likelihood of a rejection.
This part can go one of two ways: Companies may believe you're underqualified for the position and will struggle to perform, or they may believe you're overqualified and will demand a higher salary. If this crosses the minds of those who are about to consider hiring you, neither can be good. When your qualifications don’t match the specifications/requirements that the companies are looking for, there's a big possibility that your application will not be considered for an interview.
Solution: When applying for a job, make sure to read the requirements and specifications carefully to see if they match your qualifications. If you're unsure, you can always contact their HR directly to enquire whether you're qualified for the position. Only submit your application once you're certain that you're properly qualified. At the very least, you won't be wasting your valuable time, and you'll not be discouraged if you end up rejected.
There are occasions when a job posting has been up for a long time, say a month or so, by the time you look at it. Recruiters may not have changed the status of the job advertisement, but they're most likely already interviewing potential candidates for the position. It's also possible that when you submitted your application, it was already on the last day and didn't make it through the list that goes to the HR department (you never know how tech works sometimes).
Solution: Always try to submit your application as soon as you see a job opening on any reliable job portal! It's strongly advised to apply within one week of the posting date. One thing is certain, your application will be considered, and employers will most likely believe that you're eager to work for them, increasing your chances of being shortlisted for an interview.
This is usually inconvenient for new grads, as many employers will look for someone with specific years of work experience (even if they claim they don't). In job postings, you'll be able to see the number of years of experience required for that position. If your experience doesn’t match, your resume will most likely end up in the job application rejection pile.
Solution: Examine all of the specifications that are included in any job posting that you're interested in, just as you would with the qualifications required. If you've been working but your work experience is insufficient, look for other postings that would be a good fit for you. If, on the other hand, you’ve recently completed your studies, look for job openings that mentions “for entry-level or graduate positions”. There’s a good chance that recruiters will consider your employment application.
Depending on the job you're applying for, recruiters may request your portfolio to assess the quality of your work. Some common examples include graphic designers, writers, editors, photographers, videographers, and models. The portfolio must meet certain specifications when uploaded to job sites, or submitted directly to companies. If all of your work is thrown together on one page with no classifications, it'll be difficult to see what types of work you’ve done, and to decide whether you’re qualified for the position.
Solution: Firstly, when creating a portfolio, make a list of the works you've completed and categorise them into the appropriate sections. As a writer, for example, you may have done a variety of different write-ups throughout your career, which you can categorise as creative writing, press releases, copywriting, social media captions, and so on. Once you've done that, make sure to have a separate page for each category so they don't get mixed up, and it's convenient for recruiters to evaluate.
Some of you may be wondering, "What in the world is ATS?" This may come as a surprise to you, but most businesses (particularly mid to large companies) are using this software to sort, filter, or rank candidates who have applied for jobs with them. As stated on JobScan, if a resume isn't properly formatted or doesn't include relevant keywords, it may be ignored by the system and fall into a black hole. Even if an applicant is highly qualified for the position, their resume may go unnoticed if it lacks the required keywords. That being said, the ATS may not only hinder you from being hired but may also prevent the recruiters from seeing your resume. As a result, you're not even considered for an interview.
Solution: Fortunately for you, there's a way to get your resume read by the ATS and hopefully, your application could get up to the interview stage. Of course, you're not supposed to cheat your way in; you still have to prove that you have the necessary qualifications and experience (if you're lying, they'll find out during the interview, no joke!). Forbes has compiled a list of resume formatting and keyword rules to ensure that ATS doesn't hurt your chances of getting hired. This includes using .doc or .txt format, avoiding graphics or tables, avoiding resume templates, listing the names of previous employers before the years you worked there, uploading your resume rather than typing into the provided space, and including unique keywords that can be found in the job posting itself (Hint: Look for most used keywords!).
The interview is the most important part of the hiring process, and if you're not fully prepared to face interviewers, know very little about the company, and are unsure of the job positions, you'll be lost during that critical moment. It has been reported that nearly 50% of job applicants failed their interviews due to a lack of knowledge about the company and the job they desired. Surprisingly, the interviewee can detect this when you try to avoid questions and provide vague answers.
Solution: As soon as you know you've been invited to an interview, spend some time thoroughly researching the company and the position you've applied for. The more knowledgeable you are about the company's operations and goals, as well as the responsibilities of your job position, the more confident you'll be. When you're optimistic, it's more likely that you'll answer the questions smoothly during the interview. So, be very prepared, always!
You must be able to interact and communicate to ace an interview, but good communication skills include not only how you speak and what you say, but also your body language during the interview. According to research, 20% of interviewers said they rejected applicants who crossed their arms, and 66% said a lack of eye contact caused them to turn down a candidate. Who would have guessed that what you do with your arms and eyes would matter so much in an interview?
Solution: Be mindful of what you say and the body language you project to your interviewers. It's natural to feel shy or intimidated when meeting them for the first time, but remain confident and pleasant so you don't come across as unfriendly. Another way to prepare and avoid feeling awkward is to practise interviewing with a friend/family member or talking in front of a mirror.
It has been reported that a staggering 85% of applicants lie on their resumes to meet the requirements and be shortlisted! The problem with making things up is that you may be chosen for the interview, but how will you handle the situation when employers want to know more about you, and ask to see proof of qualifications, skills, and so on? If you stumble on your words and/or aren't able to provide credible references, they'll figure out for sure that you're lying, and you can kiss those job opportunities goodbye.
Solution: None other than – Always. Be. Honest! Whether you're in the application stage or during the interview session, be truthful with whatever you tell the employers. It doesn't matter if it's about your qualifications, experience, skills, or anything else related to the job you're applying for. If you got a job by lying, be prepared as your white lie will eventually come back to bite you.
When it comes to applying for jobs, salary can be confusing because you're not sure whether to include it on your resume or not, and you're worried that you'll bring it up at the wrong time during the interview. Nonetheless, employers will usually turn down applicants who ask for far too much salary in comparison to their experience and qualifications. For example, asking $8,000 per month for a junior executive position may be out of your league!
Solution: Make sure you've done your research and are aware of the pay ranges for the positions you've applied, before deciding on your expected salary. Each employer's budget allocation may differ, so you'll be able to determine which will be prepared to pay you your expected salary. Ultimately, make sure the salary you're asking for is in line with your experience, qualifications, and what you can offer.
Believe it or not, your social media presence, both positive and negative, is very important to most recruiters. If they see positive things about you on social media, they're more likely to consider you as a candidate. However, according to a survey conducted by The Manifest, approximately 90% of employers look at potential employees' social media profiles, and 79% have rejected a candidate based on what they discovered. It's stated that the following social media content can lead to candidates being denied:
Solution: Consider modifying or removing what you've posted on all of your accounts, and possibly going on a social media cleanse before applying for any job positions. You can begin by deleting or privatising any inappropriate posts/images, and then refrain from posting anything else. Prepare your social media for job applications at least a few weeks ahead of time.
Almost every interview will include the question, "Where do you see yourself in 5 years?" Your response to this question could be one of the deciding factors in whether or not you get the job. If interviewers think your answer is unrealistic and impossible to achieve, they may dismiss you as unsuitable for the position. For example, if you applied for a junior marketing executive and when asked this question, your answer is to be a Chief Marketing Officer... that can come across as a little too ambitious and unrealistic for such a short period of time.
Solution: Make sure you have a specific goal in mind for any jobs that you apply for. If you're not sure how, then looking at the company's hierarchy or stages of the corporate ladder may help you set your career goals and expectations. At the end of the day, you must be clear about your goals and aligned with the company's direction.
Things can sometimes spiral out of control, such as when a company decides to hire internally or drastically alters the specifications required. If this occurs, there is nothing you can do but to continue preparing and focusing for the next interview.
Of course, there are numerous things you must do when preparing for your interview to look good and be confident (but not overconfident, please). These are several strategies that can assist you in planning ahead of time to avoid botching your future interview.
It can be devastating to learn that you've been rejected from a job you've been hoping to land or even your first job. You must remember that rejection is not the end of the world. There are still plenty of opportunities available, and the right job is waiting for you, so don't give up!