Well, it is very sad indeed that engineers are badly paid. I would like to share my experience with you.

I have a first class honour degree with electrical & electronics engineering from NTU. I have been working as a IC designer for 8 years and is currently at my third company.

Even with promotions and job hops, my average salary increment per year is ~3%. I was told that is the standard pay in the industry in Singapore. Not sure if that is true or not. If you are happy with that amount of pay, shoot for it.

I was very naive when I was young. I thought interest should take precedence over pay in one's career. I only realized that $$$ is indeed important (if not most important) after working for a few years and about to start a family.

Enough said, judge it yourself.