Industries with Highest Proportion Earning 5-Figure Monthly Income

actually to put the discussion into perspective, it is the type of job you are in that determines what salary you are getting now.

The risk, the knowledge involved and the career lifespan, I would say are the 3 key factors.

Risk - if the job is risky, say working in the refinery, there will be a premium in the salary associated with this.

Knowledge involved - if the job requires an intrinsic knowledge that you possess, there again is another premium tagged to your salary

Career lifespan - if this job only lasts 10 years, take for example a footballer, there has to have a premium to encourage someone to take this career path.

Not sure if everyone agrees?

Originally Posted by Unregistered

actually to put the discussion into perspective, it is the type of job you are in that determines what salary you are getting now.

The risk, the knowledge involved and the career lifespan, I would say are the 3 key factors.

Risk - if the job is risky, say working in the refinery, there will be a premium in the salary associated with this.

Knowledge involved - if the job requires an intrinsic knowledge that you possess, there again is another premium tagged to your salary

Career lifespan - if this job only lasts 10 years, take for example a footballer, there has to have a premium to encourage someone to take this career path.

Not sure if everyone agrees?

You're probably right but I believe there's another factor missed out:
Value of your output - Private banker earns more than a personal banker could be due to more knowledge required but could also be due to higher revenue the private banker earns for the bank than a personal banker can earn for the bank.

may i add in oil/gas industry as well. I am pretty sure that they are generous paymasters...especially with the huge profits they earn annually..

I'm surprised that Information & Communications is #3. I've been in the industry for almost 10 years and I think the upside of the industry is limited!

Coming in close at number 3 is "Information & Communications", with 10.0% making $10k+ per month.

Originally Posted by Unregistered

actually to put the discussion into perspective, it is the type of job you are in that determines what salary you are getting now.

The risk, the knowledge involved and the career lifespan, I would say are the 3 key factors.

Risk - if the job is risky, say working in the refinery, there will be a premium in the salary associated with this.

Knowledge involved - if the job requires an intrinsic knowledge that you possess, there again is another premium tagged to your salary

Career lifespan - if this job only lasts 10 years, take for example a footballer, there has to have a premium to encourage someone to take this career path.

Not sure if everyone agrees?

I am sure this is the general rule...

But I totally do not agree for the electronics engineering sector.

"if the job requires an intrinsic knowledge that you possess" :
you are most likely NOT going to get a premium because, if you know that knowledge you probably duno many others, your boss knows no one/very few will hire you for that specific knowledge and your pay will be crapped.

"Career lifespan - if this job only lasts 10 years, " : Coding skills are skills that have an expiry date, but yet coders are paid peanuts. A 40years old programmer with 20years coding in BASIC is no better than an ITE student when it comes to coding java.

Consider all factors and make your choice wisely...

Originally Posted by Unregistered

I am sure this is the general rule...

But I totally do not agree for the electronics engineering sector.

"if the job requires an intrinsic knowledge that you possess" :
you are most likely NOT going to get a premium because, if you know that knowledge you probably duno many others, your boss knows no one/very few will hire you for that specific knowledge and your pay will be crapped.

"Career lifespan - if this job only lasts 10 years, " : Coding skills are skills that have an expiry date, but yet coders are paid peanuts. A 40years old programmer with 20years coding in BASIC is no better than an ITE student when it comes to coding java.

Consider all factors and make your choice wisely...

Yeah, best jobs are those where supply is artificially limited like doctors and lawyers where even the average performers are very well paid. The rest feel the effects of globalisation much more

Originally Posted by Unregistered

Yeah, best jobs are those where supply is artificially limited like doctors and lawyers where even the average performers are very well paid. The rest feel the effects of globalisation much more

Bump. 10 chars.

tertiary acad staff (in mid 40s) should have no problem hitting $150kpa (all in). Not say excellent, but not too bad.

Originally Posted by David Seah---

I bet the Admin forgotten our local aviation industry as well.

RSAF and Airline pilots also rack in 5 figures salaries as well. With their company bonuses, They bring home high 6 figures annual packages as well.

Not true at all - they don't bring home high 6 figures annual packages.

Originally Posted by Unregistered

Not true at all - they don't bring home high 6 figures annual packages.

I agree. Both my brothers are pilots, 1 with SIA Cargo and another with SIA passenger.

If you are a senior pilot, then yes $20k/month possible. but to earn that amount you already have 1 foot in the grave.

A mid 30's commercial airline pilot will earn $280k/year including bonuses.

Same commercial pilot in 50's will be getting $420k/year including bonuses.

Nowhere near high 6 figure salary.

Hedge fund managers, private equity financial consultants, oil traders, oil brokers, are all in the high 6 / low 7 club.