How much can an actuary make?

Originally Posted by Unregistered

150k pa for an expat is considered way too low. Remember that the spouse usually doesn't work and that the kids' education is relatively more expensive even if they attend local schools. Rental will be another major burden. I would say overall quality of life will be worse than that of a typical Singaporean family living in a 5-room HDB flat.

Thanks for the info. I'll be sure not to sell myself short when the time comes. What level of salary would an expat family of 2+2 need for a very comfortable life in Singapore ?

Originally Posted by Unregistered

What's wrong with his post?

For you to ask this question clearly implies that you are not working in engineering.... There is no way a junior engineer can start by earning 5k... The average junior engineer earns only about 2.5k - 3.5k... Engineers can earn so much... Nobody will be jumping into finance from engineering......

Originally Posted by Unregistered

Thanks for the info. I'll be sure not to sell myself short when the time comes. What level of salary would an expat family of 2+2 need for a very comfortable life in Singapore ?

Depends on how comfortable, and how much savings u need, and whether housing and schooling is covered by your expat package.

The key costs are:
- housing : approx $70k pa. $5.5k (for mid tier expat) to $25k (for orchard living) per month
- international schools : $30k per kid per annum
- maid : $12k to 15k per annum (including food for maid, and misc)
- car : $25k per annum (for mid tier car, including petrol. Insurance, rd tax, parking etc)
- taxes : can assume 10 to 15% in aggregate
- living expenses : $25k pa. 2k per month for the family if you aren't extravagant

So as u can see, just basic expenses for a mid tier expat putting kids thru international school are approx $190k pa, excluding taxes. If u dun mind living in hdb, no car, no maid, cheaper schools, u can get by on more local terms.

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Originally Posted by Unregistered

The guy who posted this must be an engineer who has gone mad from poverty.... Ha, ha... either that or perharps the numbers are for annual income instead or monthly salary... Hilarious joke indeed!! ha, ha, ha......

I'm sorry but this is accurate at least in a context of civil engineering consultancy, MNC. I don't know what's "staff engineer" but Engineer makes 5k-6k, Senior Engineer 7k - 10k. Other higher levels e.g. Prinicpals accurate as well. I am a senior engineer in an MNC engineering consultancy and my other friends in the same field, also MNC make similar money. 13 month bonus only.

However compared to my friends in the civil service, their base pay is close to 7k and with the 4-6 months bonus, they actually make more than I do.

Originally Posted by Unregistered

I'm sorry but this is accurate at least in a context of civil engineering consultancy, MNC. I don't know what's "staff engineer" but Engineer makes 5k-6k, Senior Engineer 7k - 10k. Other higher levels e.g. Prinicpals accurate as well. I am a senior engineer in an MNC engineering consultancy and my other friends in the same field, also MNC make similar money. 13 month bonus only.

However compared to my friends in the civil service, their base pay is close to 7k and with the 4-6 months bonus, they actually make more than I do.

I an quoting the below posted earlier - like I mentioned this is accurate. Engineers may not make the most but it's good living.

Junior Engineer: 5k
Senior Engineer: 8k
Staff Engineer: 10k
Principal Engineer: 12k
Engineering Manager: 16k
Engineering Director: 30k + shares benefits

Are you in HR? The figures you provided are in the ball park for engineers in the civil service, defense industries and military service. A freshie engineer with good honors and NS joining the Civil service would be getting $4k-$4.5k pm. With just the ave bonus, he would be getting >$60k pa first year.

Nowadays they don't publicise the salary scales, but practicing engineers in the government and military are expected to be earning more than engineering poly lecturers (for same cohort). From below (extracted from some other forum poster) you can have a feel of the pay scale for the lecturers. A senior practicing engineer would be like a Pax 5 to Pax 4 poly lecturer. A principal or staff engineer would be like the poly Pax 3 and Pax 2.

I find it strange that people say engineers are poor. They may be "poor", but I know many are staying in condos and quite a few also have another condo earning rental income.

If husband and wife are both engineers and are in the profession for over 10 yrs, as a household they would be earning >$200k pa and save $100k pa easily.

PAX Salary Range (effective 1 Sep 2012) in all Polys -

PAX 2 : $10,920 - 14,910 / 16,900
PAX 3 : $ 7,060 - 9,670 / 10,980
PAX 4A/4E : $ 5,120 - 7,690 / 8,980
PAX 5A/5E : $ 3,750 - 5,740 / 6,740
PAX 6A/6E : $ 2,410 - 4,270 / 5,200

Originally Posted by Unregistered

I an quoting the below posted earlier - like I mentioned this is accurate. Engineers may not make the most but it's good living.

Junior Engineer: 5k
Senior Engineer: 8k
Staff Engineer: 10k
Principal Engineer: 12k
Engineering Manager: 16k
Engineering Director: 30k + shares benefits