After reading all your comments, I really do feel compelled to chip in my 2 cents worth.

My stand is that Singapore doesn't really pay that well for its engineers and scientists (techies). While I agree that while techies cannot expect hefty bonuses like the bankers (as they are usually not directly involved with sales), too low pay will cause your tech people to worry and be distracted and not focus on the job. Thus the quality of work is likely to deteriorate.

I have a close friend who just completed a PhD in the defence engineering industry. He's starting salary in Singapore is only 5k after slogging so hard, and that is one of the highest around. I have heard horror stories of other companies paying even lower than that. With this kind of mindset from employers, how can Singapore ever encourage its people (who are super practical and kiasu) to ever go into science and engineering?
Compare this to overseas engineering companies in Israel, where the starting pay for an undergrad (yes u-grad) is $6k SGD. Not absolutely fantastic, but good enough. I have also seen adverts for engineering teachers in Dubai with a 200k+ salary tax FREE.

So my advise would be the same as with many others:

Do engineering and get out of Sg. Stay in Sg, get out of engineering.