I think what he said is perfectly believable.

I had friends who graduated from Engineering degrees from UNSW, USYD and UMELB

An example of one of my best friends
1st Job 55k, 2nd year 65+, 3rd year, 80k
4th year quit = relax, sick of working in those big4 firms. This is in aussie btw.

5th year = headhunted to head HK office 100k+

7th year, in SG as CEO of a small hedge fund/investment house, 400k+ not incl bonuses and commissions.

He still rents a very nicely renovated HDB with his wife. No condo, no car - he said he doesnt need it in sg.