Professionals and Managers - Is Your Pay above the Median?

puzzled don’t go apologizing to some consultant wannabe who doesn’t know a thing about management consulting.

The entry level pay of management consultant is still S$5k+. This is confirmed by CURRENT hopefuls eg applicants that I know. Annual package don’t expect beyond S$80k. Looks like somethings don’t change even in 10 years.

displeased, $7.5k monthly at 30 is great salary dude. I’d give an arm to earn that at 30.

someone I know who was trained in engineering in NTU who now went to do ‘marketing’ is getting less than $6k at 33. I’m 27, drawing $3k only, pathetic..don’t know if I’ll end up like him.

The only people from my cohort who earn than you are traders, relationship managers (bank), investment bankers, air force pilots and yup, the SAFOS ppl in the armed forces, small as their numbers are.

At 30, business owners are normally just starting out and take a small salary only.

displeased: no wonder you’re displeased!!! don’t you know that majority of the people who own those assets are by 1)financing 2) saving?

don’t tell me you expect to buy everything with just 1~2years of work? earning your kind of pay, with a good quality of life and normal saving rate, you can buy those assets at a much shorter time than most ppl.

also as you mentioned in #81, earning at least 150k/yr will already place you in the top percentile in terms of SG annual inc/household inc/in terms of age group………if you expect to get much more than this, you’ll have to venture into some business.

btw, if you already have a nice house and car, why do you want to get another nice house at 30+?

displeased, just realised what happened above, wasn’t referring to you in mind when I told puzzled he was correct. I thought it was an actual consultant or student wannabe who posted to claim otherwise, then I went back up and actually read properly and realised I had misunderstood. so sorry dude!! hope you don’t misunderstand my misunderstanding..

yup they indeed are paid $5k only for entry level, i’m not sure how the pay package progresses.

$125k pa at 30 is good package..hold on to your company.my engineer brother is 33 and makes about $90k pa. I do have friends who make $110-$170k pa, 27 - 28 years old, those jobs I highlighted above but we don’t compare ourselves with them.

sadly, even though SG became more competitive and salary improved tremendously throughout these yrs, recent survey actually put SG disposable inc/DPP lowest compared to the other rich Asian nations.

We thought our salary is high, but we’re just cheating ourselves using the wrong index

puzzled: yes when i was younger i used to look with envy on those high flyers, high earners and businessmen.
as i learn more and know more i start to understand these often come with prices.
also as i grow older i guess other priorities like family becomes more important than money.
having said that…
displeased: i hope i did not come across as rude to say that you are greedy. definitely not my intention.
when i was younger at your age i was also busy aggressively climbing the corporate ladder.
i’m just sharing with you my experience that there’s no end if you always compare upwards.
ambition is great but you also need to slow down sometime to enjoy your success.
surprised: don’t feel too bad. the world is really getting flooded with talents from China and India.
Every professions and any specializations will not be spared, and it most likely will get worst.
Unfortunately IT i getting the worst of it.
Just look at US and Europe and you will see what SG will face sooner than later.
Wages will continue to be depressed but the growing worry will be whether we can keep our jobs in the face of this new challenge.

puzzled: i’m guessing Singaporeans already know or feel the impact on our ever shrinking disposable income with the increasing costs of living and value of our ‘assets’.
The younger people will probably get it even worst.
And I don’t think we are cheating ourselves.
We already know who are the people cheating us.
Lol…*ahem* let’s move on.

totally agree with you Middleclass..

look at the headlines Ng Teng Fong USD8bio! major income indices show SG no where near top salary earners in the world.

its a bimodal income curve in SG.

be contented with what u have, goingforward unless u are the very rich, otherwise be prepared for the squeeze.

middleclass: you’re right abt everything comes with a price tag/sacrifices. The price for having a good pay often comes with high stress/bad hours/instability, etc.

I was also earning in the area of $150k/yr when I was 30. but as I grow older, I wanted to spend more time with family/thinking abt long term/health/job security/etc.

surprised: actually your 33 yr-old engineer bro has a pretty decent pay at his age. that amt is not bad if the job has a manageable/acceptable stress level, hours, stability, job progression. if his wife earns abt the same amt, the household income can easily top $150k, making them top percentile in SG household inc