It is a common misconception that this phenomenon is unique to Singapore.

You can check up the annual income of chief engineers in the West and they don't go much above the low six-figures, whether measured in USD or SGD.

The reason even the best engineers cannot earn much is because their income is hampered by idiots.

In terms of the total pot of money in each profession, there is not much difference between the housing estate and engineering professions.

However, whereas engineering is egalitarian in nature whereby the pot of gold is shared almost equally by all engineers, including the idiots, there is no money for idiotic housing agents.

The housing estate profession has a capitalist remuneration structure based on Adam Smith's "invisible hand", similar to that of insurance agents and traders.

For people who are worldly wise and thrive in the more competitive professions, the housing estate profession provides an opportunity where the sky is the limit.

The downside of this is that, just as the "invisible hand" will turn a shrewd agent into a multimillionaire, it will also strangle those who cannot close deals.