Singapore: The 3 Prestigious Professions Which Suffer a High Turnover Rate
Despite the fact that the following occupations have decent pay and attract much more prestige than other types of employment, they continue to suffer from a very high turnover rate in Singapore.
According to sources, 3 out of 4 lawyers will stop practicing law within 10 years of starting. As of right now, the legal profession is facing an excess of fresh graduates who are all competing for very limited training contract spots.
The high attrition rates are down to two main factors. Firstly, one of the biggest drawbacks is often the difficult work-life balance. Many associates at large firms work 16 hour days particularly everyday. In large firms, working until 2 or 3am has become the norm.
The attraction to the teaching profession is by far the school holidays. However, teachers keep leaving due to the long hours, lack of the balance between work and personal life as well as stress with the endless admin work.
Real Estate Agents
More and more real estate agents abandon their licences every year. This is also due to many Singaporean property owners and buyers now prefer to go around the agent and sell it themselves on the internet.