I read once in an article the most simple solution to retain talent is to pay them more money. And when I thought about it further, I can't argue against it. Especially in Singapore, more money leads to a better means in life. How true and how simple.

I encourage that poster to rethink what he said when all of the sudden two days of reunion dinners seem worth to give up ~$5k a month.

Yeah. Most Singaporeans are pretty materialistic and shallow.

I used to think like that. Now I think differently. I wouldn't call someone materialistic and shallow if he strives to get more money to pay mortgage, to pay medical bills, to pay parent insurance and to pay his own insurance. Heck I was talking to my fiance that day. If baby better have car so easier to get around.

Putting into Singapore context, I think a good ball park for a male is $12k a month to afford the things to make life easy for him and his family. Doesn't mean he can't survive on less than that but it means life will be easy.

Striving towards $20k then I can agree that he is looking for the bungalow, Ferrari's, night life and fame.

You need more than 20k for bungalow, Ferrari, night life and fame though. More like 100k a month. It's quite a huge quantum from 12k.

Nar man.

Bungalow - $5m. $1m downpayment. $4m over 30 years = 4m / 30 / 12 = $11k.
Ferrari - $1m. $500k downpayment. $500k over 10 years = 500k / 10 / 12 = $4k.
Night life - $2k per night, Fri and Sat = $2k x 2 x 4 weekends = $16k.
Fancy Restaurant every week - $300 per meal = $300 x 4 = $1.2k.

That's $32.2k a month. Throw in another $10k a month for other daily necessities. That's $42k a month. You know what, let's round it up to $50k a month.

I got a life of bungalow, Ferrari, night life and fame for half of your $100k a month. Yippie!

I placed it at 100k because you obviously need a sufficient cushion to be able to afford the down payments off many of the stuff you want to buy.

If you think about it, 50k will put you in serious debt because you won't have sufficient savings if something hits.

Lse
 

s://sg.linkedin.com/in/rawcliffe-tan-36863594

Lse clementi ftw

Lse
 

s://sg.linkedin.com/in/mark-chua-893b3859?trk=pub-pbmap

How come operations classfied as middle office?

In that case, don't be a hypocrite. Just strive for a 4k salary, thats the median salary in SG.

Hi, I am graduating soon from SIM-UOL with second uppers from a bachelors in business and finance. How much can I expect as salary if I join big banks like DBS and OCBC? Or maybe international banks like JP Morgan? Thanks all.