hi engineer,
1st of all, PM in Singapore is just like another general manager. Pay sucks and you work long hours. If you do a check on Aussie job search engines, PM (esp those in Civil Engineering) can expect about AUD 200k. After tax it comes down to about AUD130k which is still not bad. You may still work long hours but at least you are rewarded.

This is also for Howcome: you can move from IT to front office, however, just like ants attracted to honey, there are so many ants while with only a few pots of honey. That is, it is EXTREMELY difficult to get to front office unless you are really talented, especially in the banks. Honestly, a back to middle office quant's salary aint too bad liao. If you really want more info on what FE or Quant Analytics is about, try www.markjoshi.com and read his advice. Mind you it is not for the faint hearted. Most of the quants are PhDs in pure maths and physics and the questions they ask you at interviews will entertain the brightest of minds. Also read E Derman's blog at www.ederman.com. You better know who he is, cos if don't you ain't in the game.