15% pay cut from private sector to teach in Polytechnic

Originally Posted by Unregistered

100k nowadays is considered below average.

NONSENSE! $100k is not below average. It is above average. Pls dont anyhow make irresponsible statement. $100k in singapore can lead a reasonably comfortable lifestyle.

Originally Posted by Unregistered

NONSENSE! $100k is not below average. It is above average. Pls dont anyhow make irresponsible statement. $100k in singapore can lead a reasonably comfortable lifestyle.

Even teachers make 100k in their mid to late 30s. If you don't make that kind of money, instead if chastising others for making irresponsible statements, take a good look at your own situation and start thinking if you've be losing out in the salary game. Or if you're one of those who feed on "passion" but yet visit forums on salary comparison.

Ponder this: with a 100k income, can you comfortably afford a 5-room HDB in a good location and a decent family car, and save up for your kids' education and your own retirement?

It's not enough! Cos it's below average.

Originally Posted by Unregistered

Even teachers make 100k in their mid to late 30s. If you don't make that kind of money, instead if chastising others for making irresponsible statements, take a good look at your own situation and start thinking if you've be losing out in the salary game. Or if you're one of those who feed on "passion" but yet visit forums on salary comparison.

Ponder this: with a 100k income, can you comfortably afford a 5-room HDB in a good location and a decent family car, and save up for your kids' education and your own retirement?

It's not enough! Cos it's below average.

sort of agree.

I shall take about my batch of friends all age 30 this year(1982 batch)

male, local GLC, 2nd lower NTU, engineer, 84k annual, only 5 years exp 1st job
female, semicon MNC, 2nd upper NTU, engineer, 70k basic annual + OT , only 7 years exp 1st job
female, civil servant, 1st class NUS, 105k approx annual, only 7 years exp 1st job


in 3-5 year time, they will hit 100k by 35age

I earn 100k a year (including bonuses) and still feel poor/ average. It sounds like a lot, but does not go far in SG.
- Buying a car that I can use for only ten years already costs >100k assuming current COE prices
- The average OCR 3-bed condo is 1M (monthly loan repayment $2500 assuming 1% interest rate, 30 yr loan, 80% LTV)

Went to Singstats: Median monthly total household income including employer CPF contribution is S$7040 in 2011. But, employee CPF contribution is 20%, employer CPF contribution 16%.

So, roughly, the Median household take-home is S$4855 cash per month per household in SG. House loan can be paid off with some CPF. With this S$4855, the couple has to support parents, children, transport costs etc. Those who buy a car + condo on this median income must be crazy. To be prudent they shld stay in HDB forever, and either not buy a car (MRT/Bus/Walk) or pray that COE prices tumble. This is the reality of middle class life in SG.

My take home (exclude employer and employee CPF) is 5k per month and still I don't dare to buy a car and reluctant to have kids. If I have kids then I would need a car but how to afford?? The gahmen blames people like me for low fertility rate, but I would rather be solvent. Nobody will help me if I go broke.

Originally Posted by Unregistered

I earn 100k a year (including bonuses) and still feel poor/ average. It sounds like a lot, but does not go far in SG.
- Buying a car that I can use for only ten years already costs >100k assuming current COE prices
- The average OCR 3-bed condo is 1M (monthly loan repayment $2500 assuming 1% interest rate, 30 yr loan, 80% LTV)

Went to Singstats: Median monthly total household income including employer CPF contribution is S$7040 in 2011. But, employee CPF contribution is 20%, employer CPF contribution 16%.

So, roughly, the Median household take-home is S$4855 cash per month per household in SG. House loan can be paid off with some CPF. With this S$4855, the couple has to support parents, children, transport costs etc. Those who buy a car + condo on this median income must be crazy. To be prudent they shld stay in HDB forever, and either not buy a car (MRT/Bus/Walk) or pray that COE prices tumble. This is the reality of middle class life in SG.

My take home (exclude employer and employee CPF) is 5k per month and still I don't dare to buy a car and reluctant to have kids. If I have kids then I would need a car but how to afford?? The gahmen blames people like me for low fertility rate, but I would rather be solvent. Nobody will help me if I go broke.

I bet the garment don't read this forum.

They have appointed a team of millionaires to solve the fertility problem. I wish them all the best.

Originally Posted by Unregistered

That means you make around 100k a year. Not bad by most standards already.

Thanks for your reply. I am #277.

I came from the private sector, and worked through the dot-com bubble burst where my company winded up. Lucky I found another job, and just when I thought the worst is over, there is the Global Financial Crisis in 2008. My company went through a restructuring, where even the head of department left. So now I am in the public sector, not just because of the safe harbour, but after being an engineer for >15 years, I am really tired and want to try something new.

In the past, I used to hack care about salary comparison, promotion, salary jumps etc. just concentrating on my interest, do my work well and keep learning new things. What a dumb engineering geek would do. But there comes a point where I realized life is not just that. I am pretty sure I am not going to invent the fantastic product that changed the world, or build up a company like Apple. And without my company (which used to be an MNC) I am close to nothing.

I always consider myself lucky to be born in my family, where I don't have too much "burden", and my other half works and we were able to live comfortably within our means. So I have been contemplating to go into teaching. At least I can foresee doing this till say 50, which is my target semi-retirement age. And yes, if anyone's interested, our household income is >100k/yr and we are comfortably living within our means. The key word is 'Contentment'.

Agree that 100k will allow you to lead only an average lifestyle in Singapore.

Those who try to be too atas -- drive Beemer stay condo -- are living beyond their means. They may or may not end up in trouble later, but it's risky in my opinion.

Originally Posted by Unregistered

Agree that 100k will allow you to lead only an average lifestyle in Singapore.

Those who try to be too atas -- drive Beemer stay condo -- are living beyond their means. They may or may not end up in trouble later, but it's risky in my opinion.

My hsehld income is close to $300k and I stay in a 4 room hdb..i am super comfy. No worries abt job, dont really care abt promotion..have alot of spare cash and goes on holiday every year....i have a few kids and they are all doing well....and I am only early 40... as someone above said: contended. I try very hard and cannot even find a strand of white hair....haha...

Originally Posted by Unregistered

My hsehld income is close to $300k and I stay in a 4 room hdb..i am super comfy. No worries abt job, dont really care abt promotion..have alot of spare cash and goes on holiday every year....i have a few kids and they are all doing well....and I am only early 40... as someone above said: contended. I try very hard and cannot even find a strand of white hair....haha...

I think you live way below your means. You could have easily afforded a mass mkt condo.

Don't hog the HDB and give others a chance lah.

You know about the Lee Kong Chien story? He still rode buses with the poor workers when he was already a wealthy man, refusing to have a private car and chauffeur. When I was small, I admire his frugality. But when I grew up and understood the world better, I think he's hogging a space in the bus! He should give others a chance. It would be better if he could upgrade the buses with his wealth and improve the conditions of the workers.

Originally Posted by Unregistered

My hsehld income is close to $300k and I stay in a 4 room hdb..i am super comfy. No worries abt job, dont really care abt promotion..have alot of spare cash and goes on holiday every year....i have a few kids and they are all doing well....and I am only early 40... as someone above said: contended. I try very hard and cannot even find a strand of white hair....haha...

not to be rude but it is time for you to change your glasses. do not save money on it.