Guys, engineering is like the tortoise in the race, while finance industry is like the proverbial rabbit. As a rabbit you get high returns but your energy burns out fast, while as a tortoise if you can go on strong and steady for 10 years you will enjoy a relatively stress-free career and high returns.
PE is the short term for professional engineer and their going pay is 10K a month at least - I know of plenty and they are not expats, just singaporeans like you and me who stick to their jobs, build up on experience and reap their just harvests.
A young banking yuppie might earn 10K a month, but let's see if he can sustain over the next 10 years. He will be able to hold on (burning his life out in the process) or change to a much less stressful job.
You decide which path you will choose ^^