How many income groups are there - Low, Middle-low, Middle, Middle-high, High? - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How many income groups are there - Low, Middle-low, Middle, Middle-high, High?

Reply
 
Thread Tools
  #1 (permalink)  
Old 24-10-2011, 11:39 AM
Verified Member
 
Join Date: Apr 2011
Posts: 13
xtrasaver is on a distinguished road
Default How many income groups are there - Low, Middle-low, Middle, Middle-high, High?

I read with interested in particularly to Straits Times report yesterday, where Demsey Hill is considered to be targeting middle-high income group.

How do you consider middle-high income group? I mean, is it based on the income or the property he's residing?

Ok, I know earning about $800-1200 pm and staying in rental HDB flats may be considered to be lower income; but how about the rest?

Is there any proper definition or line for the groups?

IMHO, I think there are mainly 6 groups.

I start the ball rolling by guessing:
Low income - earning lower than $2000 per mth
Middle-low - earning somewhat between $2000 to $5000
Middle - earning between $5000 to $8000 (normally from here onwards, people start to use per annum instead of per month; but I still use pm for illustrative purposes)
Middle-high - earning between $8000 to $12000
High - earning $12000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc.

My guess is based on income, but I could be wrong because maybe everyone is based on assets, just like the ultra-high.

Of course, there would be people who are very nice and humble who have $10-20 million in their banks, but they consider themselves to be the 'middle' income bracket; but objectively, I don't think they are in middle income group.

Reply With Quote
  #2 (permalink)  
Old 24-10-2011, 12:25 PM
Super Member
 
Join Date: Oct 2011
Posts: 309
Bean is on a distinguished road
Default

then how they are classified?

by household (total income of all family members living in the same house/home)?

by each individual income?

Reply With Quote
  #3 (permalink)  
Old 24-10-2011, 12:41 PM
Unregistered
Guest
 
Posts: n/a
Default

income by definition means you are still working. there are a number of people who don't have to work. these are the jobless rich. unless they collect rent, they typically don't have regular income - when they need money, they'll sell some shares or a condo. if you classify them based on rental income, they will probably just be middle-high or high by your classification.

that's why these jobless rich may even get largest growth packages from the government. nice right?

just sharing.



Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #4 (permalink)  
Old 24-10-2011, 01:56 PM
Verified Member
 
Join Date: Apr 2011
Posts: 13
xtrasaver is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
income by definition means you are still working. there are a number of people who don't have to work. these are the jobless rich. unless they collect rent, they typically don't have regular income - when they need money, they'll sell some shares or a condo. if you classify them based on rental income, they will probably just be middle-high or high by your classification.

that's why these jobless rich may even get largest growth packages from the government. nice right?

just sharing.
you're right.

so, in a way, it actually depends case-by-case, would you say?

very difficult to gauge i guess.

I have a friend who are semi-retired at age 30, but has about 2 mil in his bank, and he may be considered to be middle-high as he also owns a property (fully paid). Lifestyle that follows: drink at hotel lounges, goes holiday bi-monthly, always eat at restaurants.

I also have another friend in her 48 yrs of age, has about 100k in her bank without any property, earns about $9k, but similar lifestyle. Somehow she is more like middle-income.

But how about the masses? Any proper definition by IRAS or index by employment agencies?

Otherwise, what does Straits Times mean when they say 'middle-high' earners...
Reply With Quote
  #5 (permalink)  
Old 24-10-2011, 02:48 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by xtrasaver View Post
you're right.

so, in a way, it actually depends case-by-case, would you say?

very difficult to gauge i guess.

I have a friend who are semi-retired at age 30, but has about 2 mil in his bank, and he may be considered to be middle-high as he also owns a property (fully paid). Lifestyle that follows: drink at hotel lounges, goes holiday bi-monthly, always eat at restaurants.

I also have another friend in her 48 yrs of age, has about 100k in her bank without any property, earns about $9k, but similar lifestyle. Somehow she is more like middle-income.

But how about the masses? Any proper definition by IRAS or index by employment agencies?

Otherwise, what does Straits Times mean when they say 'middle-high' earners...
It means those people who are able to get a loan from the bank. If the unit costs $2m, the couple has to make $15k at least.
Reply With Quote
  #6 (permalink)  
Old 24-10-2011, 03:02 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by xtrasaver View Post
IMHO, I think there are mainly 6 groups.

I start the ball rolling by guessing:
Low income - earning lower than $2000 per mth
Middle-low - earning somewhat between $2000 to $5000
Middle - earning between $5000 to $8000 (normally from here onwards, people start to use per annum instead of per month; but I still use pm for illustrative purposes)
Middle-high - earning between $8000 to $12000
High - earning $12000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc.
Your numbers are too low for Singapore in this day & age. The more accurate understanding is

Very Low - earning lower than $1500 per mth
Low income - earning between $1500 to $3000
Middle-low - earning somewhat between $3000 to $7000
Middle - earning between $7000 to $14000
Middle-high - earning between $14000 to $22000
High - earning between $22000 to $40000
Very High - earning $40000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc.
Reply With Quote

  #7 (permalink)  
Old 24-10-2011, 04:48 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:

"Your numbers are too low for Singapore in this day & age. The more accurate understanding is

Very Low - earning lower than $1500 per mth
Low income - earning between $1500 to $3000
Middle-low - earning somewhat between $3000 to $7000
Middle - earning between $7000 to $14000
Middle-high - earning between $14000 to $22000
High - earning between $22000 to $40000
Very High - earning $40000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc."

Does these numbers include bonuses as well?
Reply With Quote
  #8 (permalink)  
Old 24-10-2011, 04:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Your numbers are too low for Singapore in this day & age. The more accurate understanding is

Very Low - earning lower than $1500 per mth
Low income - earning between $1500 to $3000
Middle-low - earning somewhat between $3000 to $7000
Middle - earning between $7000 to $14000
Middle-high - earning between $14000 to $22000
High - earning between $22000 to $40000
Very High - earning $40000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc.
wah, you got 8 levels.


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #9 (permalink)  
Old 24-10-2011, 11:30 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Your numbers are too low for Singapore in this day & age. The more accurate understanding is

Very Low - earning lower than $1500 per mth
Low income - earning between $1500 to $3000
Middle-low - earning somewhat between $3000 to $7000
Middle - earning between $7000 to $14000
Middle-high - earning between $14000 to $22000
High - earning between $22000 to $40000
Very High - earning $40000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc.
FISH!!!

I'm in my late 20s and I'm in the low income level.

FML!!!
I guess i should visit Bedok Reservoir tomorrow. Sigh...
Reply With Quote
  #10 (permalink)  
Old 25-10-2011, 09:56 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
FISH!!!

I'm in my late 20s and I'm in the low income level.

FML!!!
I guess i should visit Bedok Reservoir tomorrow. Sigh...
damn i'm only in the High zone.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
High-income earners should donate 0.5% Salary.sg Income and Jobs 1 25-09-2021 07:22 PM
Marketing Exec (Part-time) - High Hourly and/or High commission PropertyInvest Marketplace and Find Work 0 17-10-2011 06:10 PM
Case Study 4 - How High-Income Lady Lost $33k in Shares Salary.sg Investments and Net Worth 4 30-06-2008 01:37 PM
Sell high buy high Salary.sg Investments and Net Worth 0 15-07-2007 07:34 PM
Buy low sell high Salary.sg Investments and Net Worth 0 01-07-2007 10:07 PM

» 30 Recent Threads
Micron starting pay ( 1 2 3... Last Page)
662 Replies, 271,744 Views
How much CPF do u have? ( 1 2 3... Last Page)
66 Replies, 37,581 Views
Lawyer Salary ( 1 2 3... Last Page)
18,833 Replies, 7,968,083 Views
Singapore Power EDGE Program ( 1 2 3... Last Page)
30 Replies, 7,252 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,126 Replies, 800,993 Views
DBS ACE Programme ( 1 2 3... Last Page)
74 Replies, 24,250 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
5,021 Replies, 2,793,542 Views
How much are you earning per annum? ( 1 2 3... Last Page)
13,557 Replies, 5,654,753 Views
Career as Teacher ( 1 2 3... Last Page)
7,043 Replies, 4,465,463 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
884 Replies, 271,073 Views
Compare civil service salary ( 1 2 3... Last Page)
15,138 Replies, 10,294,892 Views
GovTech ( 1 2 3... Last Page)
3,512 Replies, 1,202,553 Views
Singtel Management Associate... ( 1 2 3... Last Page)
1,179 Replies, 408,236 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,822 Replies, 920,470 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,031 Replies, 3,602,657 Views
Singapore Examination and...
2 Replies, 4,161 Views
IMDA (under MCI) ( 1 2 3... Last Page)
474 Replies, 230,623 Views
Singapore LNG Pay
7 Replies, 4,066 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,263 Replies, 1,026,016 Views
If you can't find a company here... ( 1 2 3... Last Page)
119 Replies, 25,990 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,054 Replies, 537,926 Views
Enterprise Singapore hiriing... ( 1 2 3... Last Page)
172 Replies, 166,873 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
204 Replies, 236,310 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,278 Replies, 3,444,651 Views
ITE (lecturer) ( 1 2 3... Last Page)
259 Replies, 300,739 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,667 Replies, 1,413,072 Views
ST Electronics ( 1 2 3... Last Page)
3,246 Replies, 1,061,404 Views
AISG (AI Singapore)
0 Replies, 106 Views
BCA (Building and Construction...
0 Replies, 115 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:45 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2