I think for a couple (say both grads) becoming (multi) millionaires in their lifetime working in the public sector is a reality nowadays. The government has removed most of pension schemes and in its place pay more competitive salaries. What more if they moved up the ranks to hit superscale grades. Even without hitting the superscale grades, a grad couple in the Civil Service can easily bring home combined income of >$200k pa at 40 - 45? By 55, they could be seeing $300k - $350k pa? I know of teacher couples earning > $300k pa (combined) by 50. Those with professional degrees like law (in legal department) and engineers could be earning more! Most are staying in private properties.
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Originally Posted by Unregistered
I think what you said makes alot of sense and it is the reality that's happening on the ground in Singapore nowadays. That's why you see a surge of mid-careers attempting to join the public sector, and most of them are willing to take a pay-cut of 20% even. That's how work-life balance and job stability matters when you're in your 40s.
If you're those ambitious few who aspire to be multi-millionaires, of course public sector is a no-no for you. At the end of the day, what do you see yourself doing when you're in your 50s? Of course there are those who retire at 40s, having earned millions by slogging it out in the private sector. Are you those few?
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