Quote:
Originally Posted by Myth Buster
Nobody is held accountable for what is written here, some use pseudo names and some contributors dont even bother to use them. But there is a common human behaviour, something which I observed in my classmates. Let me explained.
My classmates and I are now in our 50s, and we made it a point to meet every year to catch up. Initially the turn up was good, but as the years wore on, fewer and fewer turn up. And who usually turn up? They were the ones who have made good in life.
Likewise, I am inclined to believe that those who participated in the forum here are doing well and want to "boast" about their incomes.
Yes, there will be those who dont make such incomes and thus find the income claims here not believable, but the fact is that the income gap in Singapore is huge. If you are on the right side of the divide, you will find the claims here believable.
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i agree. btw, i'm the 33yo, 6 year experience 300k guy.
there is a huge discrepancy in compensation between sectors, and even within the same sector, the same discrepancy exists for different roles. So for example, for the same number of years of experience, the banking guy tend to make more than the engineering guy. i have a female colleague whose job is more administrative than profit-generating. but at the age of 28, she was already making over 100k (i don't know the exact figure, but it is definitely over 100k because she is only getting $100 payout this 1 May; she is 30 this year, and the payout is based on AY 2010's gross income, which references to her total remuneration from 2009). And she is only the average performer with a basic degree from a local university. What % of the guys break 100k at 30 (adjusting for 2y
ns). She is not high achiever; she is simply in an industry that pays more.
Now compare her remuneration with mine, since we are both from the same firm. At 30, I probably made twice her salary, and still do now. So why the discrepancy when we belong to the same firm? Well, we have different roles. She is administrative, I am business facing.
When I was an undergrad, I used to think that working for a stat board, and eventually drawing a salary of 8k would be great. Then I worked for a bank, and realized that 8k is easily within reach, since associate class at BB have pretty much known starting base salary of 95k to 115k. So I worked towards that, and my salary was doubled when i graduated. the economy didn't help my cause, but with the nyc experience under my belt, i returned to singapore on a different remuneration package.
Some may read the wage raise as unbelievable. I understand that, because I wouldn't because too if i weren't from the industry, or if you told me this when i was an undergrad. But now that I have experienced it, it can tell you categorically that to make 100k a year is not difficult at all in Singapore; you just need to be in the right industry, and have the right knowledge. Knowledge pays in today's economy.