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Compare Your Household Income 2009

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  #1 (permalink)  
Old 21-01-2009, 11:17 PM
Salary.sg
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Default Compare Your Household Income 2009

Want to know how your family's combined income stack up against other families?

Use the following form to compare your monthly household income:



The above tool is based on info recently released by Singapore Department of Statistics.

You may also find these other Salary.sg tools useful:


- Benchmark your annual pay
- Benchmark your pay by age and gender


Reference: Key Household Income Trends, 2008, Singapore Department of Statistics

http://www.salary.sg/2009/compare-yo...d-income-2009/

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  #2 (permalink)  
Old 22-01-2009, 04:13 PM
Daniel Ling--
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Default 3892

Hi, I do wonder if there's a error with the query. Or am I just misunderstanding the information.

I key in 2000 and it says that my Household Income is higher than 10.9% of all Household.

I would thought that the Household Income can be display as a pyramid and that the lowest income would be the Biggest Base.

But 2000 is only higher than 10.9%? That figure seems low to me.

Or did i misunderstand how this query works?

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  #3 (permalink)  
Old 22-01-2009, 05:10 PM
yes it's low--
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Default 3893

Yes, it's low. See Table 4 in the Key Household Income Trend report. The average is $7,750 - meaning the figure you entered (i.e. $2,000) is already below average, and the average for the 11th to 20th percentile is $2,480, so $2,000 at the 10.9th percentile level is about right.
If you're interested in comparing personal income of an individual, as opposed to combined household income of several individuals, you can use the other Salary.sg tools - just click on the "Benchmark your annual pay" or "Benchmark your pay by age and gender" links.

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  #4 (permalink)  
Old 23-01-2009, 09:22 AM
Daniel Ling--
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Default 3896

So the info from the Household income is correct. But it's a fact for me as I'm the bread earner with my mum no longer working. But 2000 / 2 = 1000 which doesn't make me eligible for assistance.

For the Annual Income guage.

Your annual income of $35,000
is higher than 21.4% of all resident taxpayers.

Sad to say, the figure still looks weird. 2.7k per mth seems to put me in a low income group?
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  #5 (permalink)  
Old 23-01-2009, 11:26 PM
Goodie--
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Default 3898

Daniel, why do you find it so hard to believe? I'm curious, that's all--no offense.
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  #6 (permalink)  
Old 24-01-2009, 02:57 PM
Daniel Ling--
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Default 3904

Hi Goodie, i'm assuming you are asking about why I feel that "2.7k per mth is in low income group."

Situation 1
Well, sincerely I would have thought that 1.5 onwards till I do not know how much is actually middle income.

But it seems that things have changed.

Situation 2
Or maybe 21.4% is already in the middle income range. Then i would wonder is it really true that there's so little low income people in singapore? What happen to all the blue collar? those that earn 900/mth? It's actually a very common wage.

Conclusion
So i'm just surprise. Is it that the low income group is lesser? Or the bench mark for middle income has risen? Or is it that the statistics did not include many of the low income population?

Hope to hear your thoughts on this.
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  #7 (permalink)  
Old 24-01-2009, 03:52 PM
kevin--
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Default 3905

Here's my two cents worth. First, there is an underlying skew towards higher income because (a) people near the high income will have such exceeding high income that it pulls up the average figure and (b) median income is skewed towards to the "higher" income because there is no negative income. Still (b) is less skewed and would be more useful as a comparator . I think the age cut-off is about 60, e.g., 60 and above with no income is considered retired, and assuming the median (?) starting work age is 20, then the "average" working age is about 40 years old and on "average", there is about 2 people working per household, making it about 40 years combined job experience. So with 40 years combined job experience, the median monthly income per household will be around 5k. Like a true statistician, I confess half of the "averages" are gut feels which can have be off from the actuals. I guess the bottomline is that statistics are made for policy makers and it is hard to apply it for the individuals. (And for those who are into surveys and want to factor in my personal bias, my household income is in the top quartile.)
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  #8 (permalink)  
Old 24-01-2009, 09:57 PM
Goodie--
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Default 3908

Hmmm, for annual income, doesn't this only include the tax payers? Those earning 900/month are not included, no? Admin?

Apart from what Kevin said, I don't have much to add, I think he explained it well.

Just one thing about 900 being a very common wage: "very common" is very subjective actually.

It depends on who you hang out with, your industry, etc. As I moved up the salary ranges, my notion of what salary is "common" changes as well. I used to think that my Director who earned 10k was paid sky high. But now, not anymore.


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  #9 (permalink)  
Old 24-01-2009, 10:33 PM
admin--
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Default 3910

Goodie, if you're referring to my other comparison tools that use the Iras stats, then yes, those earning 900/mth are not included.
As for the above tool, I use the numbers from DOS, which I believe include the low earners.
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  #10 (permalink)  
Old 25-01-2009, 01:06 PM
Daniel Ling--
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Default 3915

Hi Goodie, good point. I guess i totally forgot about that point.

But i do wonder if those high salary range is more common than low salary range. Just trying to think logically.

But sincerely, i'm sad that 2.7k is @ 21%. And base on admin, 900/mth is included.


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