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How much are you earning per annum?

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  #1051 (permalink)  
Old 09-12-2011, 05:02 PM
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As the above poster said, this is called survivorship bias. Those who do well tend to talk more about it, while those not doing so well will be lurking in the forum and not posting any messages.

This is like your secondary school or JC reunion, where the successful ones tend to show up and share stories, while those not doing so well will find excuses not to come. And you wonder why every ex-classmate you meet at reunions is so successful.

In school reunuion survivorship may be biggest factor, but the biggest problem here is not survivorship bias, but online anonymity.

We essentially have a bunch of unknown IDs crapping whatever they feel like saying with no accountability or verification to anyone. You look at the numbers here and compare with MOM/IRAS is more like top 1% than top 20%.

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  #1052 (permalink)  
Old 09-12-2011, 05:33 PM
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In school reunuion survivorship may be biggest factor, but the biggest problem here is not survivorship bias, but online anonymity.

We essentially have a bunch of unknown IDs crapping whatever they feel like saying with no accountability or verification to anyone. You look at the numbers here and compare with MOM/IRAS is more like top 1% than top 20%.
You don't have to believe everything you see here. Even when government talks, I don't usually take at face value.

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  #1053 (permalink)  
Old 09-12-2011, 05:42 PM
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You don't have to believe everything you see here. Even when government talks, I don't usually take at face value.
More like cant believe anything at all here...

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  #1054 (permalink)  
Old 09-12-2011, 06:15 PM
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Quote:
Originally Posted by Unregistered View Post
In school reunuion survivorship may be biggest factor, but the biggest problem here is not survivorship bias, but online anonymity.

We essentially have a bunch of unknown IDs crapping whatever they feel like saying with no accountability or verification to anyone. You look at the numbers here and compare with MOM/IRAS is more like top 1% than top 20%.
Then you can just assume that it is the top 1% from MOM/IRAS coming to this forum.

This forum has never ever claimed that the salaries posted are the mean, top 20% or 1%. The fact is that there indeed are people making such income. So we can just assume that indeed these are the people coming here to post.

Even if they do not earn as much as they claim, that does not make a difference either. You can treat them as the proxies of those people who really make that much.
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  #1055 (permalink)  
Old 10-12-2011, 01:35 AM
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I consider myself doing well in a MMC. Started off as a Senior Engineer after my PhD and after 4 promotions in 8 years, now holds a job title equivalent to a Senior Manager. I earn around S$120K per annum, excluding stocks option and special bonuses.

As far as I know, I'm doing quite well. Or at least that's what most people tells me.

But by this forum standards, I understand that I'm probably just average. Maybe I am. But what about the staff under me? I know their pay and it is definitely in the low range based on what I see in the forum. My HR has assures me that we are well paid compared to what the industry gets.

Should I believe my HR? No. So what about headhunters? Had a few interviews, a few offers, but non so far is willing to match what I am getting. In fact, I didn't even get a chance for an interview when I told them what I'm getting now.

Yes, I know. Must be all the expats, the FTs. Funny thing is in my position, I often interview candidates for hire. Let's just say they are not getting above what a Singapore citizen of equal caliber would get. However, I must say that the number of good foreign candidates vs local candidates is probably in the ratio of 5:1. Sad, but true.

Believe what you will, after all, I am the Super Duper Canon Fairy. Or am I?
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  #1056 (permalink)  
Old 10-12-2011, 01:52 AM
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To add on, I'm a Singaporean who served NS, currently in my 30s.

Add, just for reference:

http://myjobstreet.jobstreet.com/car...nager||190||sg

I'm sure most of the post here are by a lot of people with over 30 years experience and runs corporations. Which explains why a lot of the replies are the top 1% earners.

I'm sure it's not hard to find more statistics that is not from the Government.
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  #1057 (permalink)  
Old 10-12-2011, 07:09 AM
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Quote:
Originally Posted by SuperDuperCannonFairy View Post
To add on, I'm a Singaporean who served NS, currently in my 30s.

Add, just for reference:

http://myjobstreet.jobstreet.com/car...nager||190||sg

I'm sure most of the post here are by a lot of people with over 30 years experience and runs corporations. Which explains why a lot of the replies are the top 1% earners.

I'm sure it's not hard to find more statistics that is not from the Government.
How is the figure from Jobstreet derived? I guess they take the average or median salary of job applicants? If so, those figures might be a bit overstatad, given the tendency to put a higher figure for current pay. But from what we see in the forum, Jobstreet estimates are already considered low! So, my question is how reliable is Jobstreet salary range estimates? Or, should I say, how reliable are figures in this forum?
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  #1058 (permalink)  
Old 10-12-2011, 11:38 AM
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Quote:
Originally Posted by SuperDuperCannonFairy View Post
I consider myself doing well in a MMC. Started off as a Senior Engineer after my PhD and after 4 promotions in 8 years, now holds a job title equivalent to a Senior Manager. I earn around S$120K per annum, excluding stocks option and special bonuses.

As far as I know, I'm doing quite well. Or at least that's what most people tells me.

But by this forum standards, I understand that I'm probably just average. Maybe I am. But what about the staff under me? I know their pay and it is definitely in the low range based on what I see in the forum. My HR has assures me that we are well paid compared to what the industry gets.

Should I believe my HR? No. So what about headhunters? Had a few interviews, a few offers, but non so far is willing to match what I am getting. In fact, I didn't even get a chance for an interview when I told them what I'm getting now.

Yes, I know. Must be all the expats, the FTs. Funny thing is in my position, I often interview candidates for hire. Let's just say they are not getting above what a Singapore citizen of equal caliber would get. However, I must say that the number of good foreign candidates vs local candidates is probably in the ratio of 5:1. Sad, but true.

Believe what you will, after all, I am the Super Duper Canon Fairy. Or am I?
I'm in upper management as well in an MNC, just under 12 years working experience with similar post as yours. My annual basic is $190K, so i think you are fairly compensated based on 8 years experience. Like yourself, headhunters so far cannot match what i'm getting for my level of experience so i assume it's above average. My advise is for you to stay put since you are obviously well-established in your company and continue to progress upwards.
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  #1059 (permalink)  
Old 10-12-2011, 12:50 PM
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The engineering/MNC career route is one of the toughest to progress in terms of income, like a horse pulling a cart loaded with stones. Even if you are of the best breed, you soon find small creatures like puppies running ahead of you.

In the Straits Times write up yesterday "What makes you happy?"

"Other areas not reflected in GDP measures include work-life balance and satisfaction with life.

Just ask financial analyst Brian Tan, 26. He earns over $110,000 a year - much more than many others his age."
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  #1060 (permalink)  
Old 10-12-2011, 01:46 PM
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The real question is, how many people are getting those pay, or even the salary posted in this thread? 1 out of a 1000?

Found this on the internet:
Quote:
Job title/grade: Associate Year 1 or A1
Pay scale: S$2,700 to S$2,900 will be the starting pay for fresh graduates with accounting degrees or ACCA qualifications

Job title/grade: Associate Year 2 or A2
Pay scale: S$3,000 to S$3,200

Job title/grade: Senior Associate Year 1 or S1
Pay scale: S$3,500 to S$4,000

Job title/grade: Senior Associate Year 2 or S2
Pay scale: S$4,200 to S$4,800

Job title/grade: Senior Associate Year 3 or S3 / Assistant Manager or AM
Pay scale: S$5,000 to S$5,600

Job title/grade: Manager or M1/M2/M3
Pay scale: S$6,000 to S$9,000

Job title/grade: Senior Manager or SM1/SM2/SM3 / Associate Director or AD
Pay scale: S$8,000 to S$15,000

Job title/grade: Director
Pay scale: More than S$15,000

Job title/grade: Partner
Pay scale: More than S$20,000 with profit sharing / bonus
Average salary per Employee:
Quote:
Industry 2011 Quarter 1
MANUFACTURING 4,881
CONSTRUCTION 3,571
SERVICES 4,713
Wholesale & Retail Trade 3,904
Transportation & Storage 4,305
Accomodation & Food Services 1,634
Information & Communications 5,601
Financial & Insurance Services 9,978
Real Estate Services 3,739
Professional Services 5,303
Administrative & Support Services 2,775
Community, Social & Personal Services 4,881
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