Financial Services Pay Highest - 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




Financial Services Pay Highest

Reply
 
Thread Tools
  #1 (permalink)  
Old 05-11-2007, 10:46 PM
Salary.sg
Guest
 
Posts: n/a
Default Financial Services Pay Highest

In my previous post, I highlighted that the services sector is surging ahead in terms of employment growth. In this post, I will show the salary data for the various industries within the services sector.

The data come from the just released Monthly Digest of Statistics published by the Department of Statistics.

In particular, I used the average monthly nominal earnings per employee, and calculated & ranked the averages for the 4 latest quarters (from 2006 Q3 to 2007 Q2).

Singstat says that the nominal earnings are "computed using data from the CPF Board" and include "bonuses... but exclude employers' CPF contributions."

For those who doubt that CPF knows your monthly pay, rest assured that your employer is required (by law) to submit your wage info to CPF Board.

My findings. The Financial Services industry has an average monthly earning of $6,565, which is more than $1.6k higher than the next best industry, the Information & Communications industry ($4,891). The worst is Hotels & Restaurants at $1,413.

There's also a bump in the 2007 Q1 data for Financial Services (i.e. the $8,227 figure). I believe this can be attributed to the fat bonuses that bankers and VPs got at the beginning of the year.



http://www.salary.sg/2007/financial-...s-pay-highest/

Reply With Quote
  #2 (permalink)  
Old 06-11-2007, 03:19 PM
at82---
Guest
 
Posts: n/a
Default 521

Any idea what is the median wage for each industry?

Reply With Quote
  #3 (permalink)  
Old 06-11-2007, 06:53 PM
admin---
Guest
 
Posts: n/a
Default 522

at82, I haven't come across such data. But my guess is that the median is usually lower than the average (which is often skewed by stratospheric outliers).

Reply With Quote
  #4 (permalink)  
Old 09-11-2007, 02:12 PM
ugene---
Guest
 
Posts: n/a
Default 528

Does this take into account bonuses?
Reply With Quote
  #5 (permalink)  
Old 09-11-2007, 04:52 PM
admin---
Guest
 
Posts: n/a
Default 529

ugene, yes bonuses are taken into account. The "nominal earnings" are taken from CPF data and include bonuses.


SG BusLeh mobile app
SG BusLeh - the best bus app - available on iPhone 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
  #6 (permalink)  
Old 19-11-2007, 09:00 PM
kris---
Guest
 
Posts: n/a
Default 576

I've always felt that the statistical figures for financial services sector were grossly misrepresented, simply because I presume that the main contributory factor in elevating the wage figues in finance sector came from sales of financial products, which in my opinion, should be classified under a different category as opposed to finance. Just like the wages of an accountant/FX dealer in a construction/commodities firm do not fall under the categories of construction and manufacturing sectors, sales of investment products should not be classified under the financial sector. No offence to the 'front office' personnel since they're the ones bringing in the 'dough', but such misrepresentation does not truly reflect the situation in the finance industry for those engaged in real financial work, not sales.
Reply With Quote

  #7 (permalink)  
Old 21-11-2007, 11:08 PM
admin---
Guest
 
Posts: n/a
Default 583

kris, are you very sure the figures are skewed only by the sales people?
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
Industries with Highest Proportion Earning 5-Figure Monthly Income Salary.sg Income and Jobs 23 06-08-2017 06:46 PM
Highest paying jobs Salary.sg Income and Jobs 16 05-04-2010 04:55 PM
Biggest pay jump in real estate & financial services Salary.sg Income and Jobs 1 16-08-2009 04:47 PM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
1,988 Replies, 1,349,827 Views
Constituency Manager (People... ( 1 2 3... Last Page)
807 Replies, 409,617 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,241 Replies, 999,846 Views
NCS Salary range and Promotion...
1 Replies, 247 Views
anyone working at NCS ? ( 1 2 3... Last Page)
332 Replies, 252,751 Views
Need career advice
3 Replies, 502 Views
HSBC Career ( 1 2 3)
20 Replies, 35,448 Views
Compare civil service salary ( 1 2 3... Last Page)
8,906 Replies, 5,107,458 Views
MINDEF enlistment inspector
2 Replies, 244 Views
ITE lecturer ( 1 2 3... Last Page)
88 Replies, 100,104 Views
International Relations Careers
0 Replies, 91 Views
Job offer from Apple ( 1 2 3... Last Page)
285 Replies, 46,324 Views
SPF (Direct-Entry Inspector)
5 Replies, 419 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,682 Replies, 476,211 Views
Heineken APAC Graduate Programme ( 1 2 3... Last Page)
271 Replies, 110,230 Views
I am getting promoted in Jan 2020... ( 1 2)
17 Replies, 3,058 Views
Roles in accenture singapore ( 1 2 3... Last Page)
285 Replies, 222,439 Views
Anyone from Bank of America... ( 1 2)
14 Replies, 2,314 Views
Salary increment on contract...
1 Replies, 290 Views
career at astar pays so low? ( 1 2 3)
20 Replies, 34,569 Views
ST Electronics ( 1 2 3... Last Page)
360 Replies, 163,059 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,755 Replies, 814,934 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
2,848 Replies, 1,718,389 Views
MAS : Mid Career Professionals ( 1 2 3... Last Page)
103 Replies, 86,364 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,005 Replies, 799,253 Views
Senior Lab officer @ IMRE
8 Replies, 4,086 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,587 Replies, 963,662 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
35 Replies, 40,606 Views
Queries about Cpib application ( 1 2 3... Last Page)
1,063 Replies, 469,640 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
132 Replies, 48,117 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 06:21 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2