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How much are you earning per annum?

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  #12201 (permalink)  
Old 12-04-2021, 12:08 PM
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hi, i'm the "in finance;non-FO" guy.

my total years of exp is that of a typical sporean male who served ns and went on to complete 3yrs of U studies.. less than 10yrs for obvious reason since im only in my early 30s haha.
when i started out years ago in another bank as a contractor n my starting pay was not all that fantastic.. about $2.4k all in per mth. all my lunches were the $2.30 cai png at the old golden shoe complex in order to manage my finances haha. to date im still eating cai png so not much have changed lol.
i moved around diff banks few times over the years, and each move would be at least 20% upwards. Most of the hiring bosses werr my ex bosses and/or snr ex-colleagues so i didnt really have to bargain much... of coz over the years (pre covid) there were also few times i had more than 10-15% adjustment internally as part of the yr end reviews...

anw i dont know if my situation is indeed 'very good' becoz in my professional circle there quite many around my age grp doing way better than me. that said, im contented w what i have considered i came/grew up in a really poor family, and will continue to strive for better career prospects for myself haha (and for my family as well)
From 2.4k to 12k pm in less than 10 years, that is pretty incredible. Congrats.

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  #12202 (permalink)  
Old 12-04-2021, 12:41 PM
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Originally Posted by Unregistered View Post
hi, i'm the "in finance;non-FO" guy.

my total years of exp is that of a typical sporean male who served ns and went on to complete 3yrs of U studies.. less than 10yrs for obvious reason since im only in my early 30s haha.
when i started out years ago in another bank as a contractor n my starting pay was not all that fantastic.. about $2.4k all in per mth. all my lunches were the $2.30 cai png at the old golden shoe complex in order to manage my finances haha. to date im still eating cai png so not much have changed lol.
i moved around diff banks few times over the years, and each move would be at least 20% upwards. Most of the hiring bosses werr my ex bosses and/or snr ex-colleagues so i didnt really have to bargain much... of coz over the years (pre covid) there were also few times i had more than 10-15% adjustment internally as part of the yr end reviews...

anw i dont know if my situation is indeed 'very good' becoz in my professional circle there quite many around my age grp doing way better than me. that said, im contented w what i have considered i came/grew up in a really poor family, and will continue to strive for better career prospects for myself haha (and for my family as well)
Which bank are you at and are you a VP? Assuming a degree from NTU since 3 years?

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  #12203 (permalink)  
Old 12-04-2021, 03:08 PM
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Which bank are you at and are you a VP? Assuming a degree from NTU since 3 years?
nope. I studied at SIM... and gotten my deg from one of its affiliated partners (i.e. DL deg).
Probably also the main reason i started off low relative to what some of my peers from local U were drawing in their first job.

Not wise for me to reveal which bank i am at or my corp title... but its a foreign bank with relatively big presence and brand name in APAC region, as well as globally. U can probably guess from my pay grade alrdy given my exp so far.

i started off in some boutique banks that some people may never even heard before hahaha.

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  #12204 (permalink)  
Old 12-04-2021, 03:09 PM
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nope. I studied at SIM... and gotten my deg from one of its affiliated partners (i.e. DL deg).
Probably also the main reason i started off low relative to what some of my peers from local U were drawing in their first job.

Not wise for me to reveal which bank i am at or my corp title... but its a foreign bank with relatively big presence and brand name in APAC region, as well as globally. U can probably guess from my pay grade alrdy given my exp so far.

i started off in some boutique banks that some people may never even heard before hahaha.
No worries, thanks for sharing! You are doing very well though, happy for you!
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  #12205 (permalink)  
Old 18-04-2021, 07:10 AM
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We will be 55 soon and plan to retire. When we reach 55, we will go for the Enhanced Retirement Sum option of the CPF Life. This gives us about $2.1k pm from age 65 onwards. So our passive income will be $4.2k pm or $50k pa. This is a lot for a retired couple as we plan to cook our meals and will travel by public transportation.

Between age 55 to 65, we will need about $5k pm or $60k pa. In total $600k over 10 years. We can get this amount of cash by selling our $1 mil condo and then buying a 3 room HDB flat for $300k paid in full cash. Living in a 3 room HDB flat has many advantages as we get to enjoy utilities rebate which we donít enjoy now as we are living in a condo.

Life is short.
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  #12206 (permalink)  
Old 18-04-2021, 10:39 AM
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Just to add some data on this topic. I have 4.5 years of working experience and my base is 150k/yr. The industry is banking and finance and my role is software engineer.
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  #12207 (permalink)  
Old 18-04-2021, 02:04 PM
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Just to add some data on this topic. I have 4.5 years of working experience and my base is 150k/yr. The industry is banking and finance and my role is software engineer.
Thatís really really high.
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  #12208 (permalink)  
Old 18-04-2021, 04:21 PM
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Congratulations. You both are among the rare successful couples in Singapore that can retire at 55. Well done!

Retiring in a 3 room HDB flat makes sense as it easier to maintain. No need to pay so much maintenance condo fees every month. Most people donít use the condo facilities anyway.

Enjoy your retirement. Travel the world while youíre not too old. You can travel cheap during off peak seasons.

I have enjoyed my retirement for the past few years. I am lucky to retire at 45 years old after working long hours for many years in the corporate sector.

Welcome to the retirees club!

Quote:
Originally Posted by Unregistered View Post
We will be 55 soon and plan to retire. When we reach 55, we will go for the Enhanced Retirement Sum option of the CPF Life. This gives us about $2.1k pm from age 65 onwards. So our passive income will be $4.2k pm or $50k pa. This is a lot for a retired couple as we plan to cook our meals and will travel by public transportation.

Between age 55 to 65, we will need about $5k pm or $60k pa. In total $600k over 10 years. We can get this amount of cash by selling our $1 mil condo and then buying a 3 room HDB flat for $300k paid in full cash. Living in a 3 room HDB flat has many advantages as we get to enjoy utilities rebate which we donít enjoy now as we are living in a condo.

Life is short.
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  #12209 (permalink)  
Old 18-04-2021, 11:46 PM
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27yo, 120k base, doing finance
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  #12210 (permalink)  
Old 19-04-2021, 12:24 AM
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I'm 31 this year, 22k per month. Have 3 businesses that I run with my friends from uni days.
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