I cant help but assume that either:

1- Most folks posting here are in the top 10% income bracket of Sgp
2- There is a huge gap in the way industries are paying their people

Me 13 years exp in MNC in IT regional and global roles. Recently made redundant, last package was 150k/annum. Recruiters telling me my package was quite decent. Some roles I applied for said they cant afford me. So when I look at what is written here.. wow! wow!
I can only conclude that maybe industires like oil and gas, Finance are paying. find it hard to believe the rest are paying what is reported here.

Also, I know that some foreign banks are letting go of the people they paid too highly, and re hiring people at lower benchmarks.

Cann only speak for IT, ot sure of the other functions...