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Degree holder - is your Income above the Median?

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  #1 (permalink)  
Old 03-02-2008, 12:16 PM
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Default Degree holder - is your Income above the Median?

So, you slogged through more than 10 years of your life to get that coveted degree.

But are you earning a decent monthly income?

Let's define "decent" as being at least slightly more than 50% of your cohort, or what's called the median.

If you're getting way below the median, maybe you need to do something about it.

Based on data from the latest MOM report on the labour force (for 2007), the median gross monthly income for degree holders in their 30s is $4,880; and that for degree holders in their 40s is $7,000.

The numbers are higher for males, by more than 5%. I'm not sure why...

The gross monthly income reported includes bonuses, commissions and other allowances that can be construed as income.

The following are the median gross monthly income for the various age groups (those for males are in brackets):

- Age group 25-29: $3,250 (males $3,270)
- Age group 30-39: $4,880 (males $5,130)
- Age group 40-49: $7,000 (males $7,580)
- Age group 50-59: $7,500 (males $7,930)
- Age 60 & above: $7,250 (males $8,170)

Are you above the median?

Reference: Report on Labour Force in Singapore 2007, Ministry of Manpower.

http://www.salary.sg/2008/degree-hol...ve-the-median/

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Old 04-02-2008, 12:38 AM
KHLim---
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Default 813

Is median gross salary is annual salary(including all bonus) divide by 12?



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  #3 (permalink)  
Old 04-02-2008, 01:38 PM
Clarence---
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Default 815

This article, and the press in general, are all painting very rosy pictures which can be very misleading.

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  #4 (permalink)  
Old 04-02-2008, 05:52 PM
yes---
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Default 816

KHLim, I believe the answer is Yes.
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Old 04-02-2008, 05:54 PM
no---
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Default 817

Clarence, they are not painting a rosy picture. They are making people feel depressed.
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Old 01-03-2008, 05:57 PM
johnny---
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Default 990

seems quite accurate


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  #7 (permalink)  
Old 19-03-2008, 09:28 PM
riddick---
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Default 1124

Are these figures in USD or SGD
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Old 19-03-2008, 10:34 PM
admin---
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Default 1125

riddick, they are in SGD.
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Old 07-04-2008, 08:50 PM
Vincent---
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Default 1323

If I understood correctly guys, how to use the table above is as follows:

Age grp: 30-39, males $5130.
Assume bonus is only 13th month.

$4735 (basic) x 13 % 12 = $5130 (above)

=> The basic should be $4735 at the mean gross salary.
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  #10 (permalink)  
Old 27-04-2008, 12:41 AM
Tequila---
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Default 1526

the salary mean is grossly understated... everyone i know is making>$7000 at age 30+
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