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How much are you earning per annum?

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  #1721 (permalink)  
Old 24-07-2012, 09:09 AM
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Quote:
Originally Posted by Unregistered View Post
I will suggest if you do not fully understand the industry Pretz is in, it will be better to keep your shallow comments to yourself. Try googling freight trading / chartering to find out more.

************

I wonder this boss of yours, is he a employed manager or he owns this company.

If he is a salaried man, he is taking no ownership of the company fund and spending it irresponsibly on overpaying the staff. How can one ask the interviewee to add 20% to his existing pay followed by a 33% inclement before asking your existing salary?

If he owes this company, it will be extremely unusual for him to spend his money to overpay his staff unless he/she very sought after.

R u serious? adding 20% followed by a 33% inclement without asking one's existing salary first is a shallow comment?

I rest my case.

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  #1722 (permalink)  
Old 24-07-2012, 09:17 AM
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savings depend on your pay as well.

for junior level jobs below 10k, usually can save 20%-25% already not bad.

% tends to get easier as you move up. for eg. a mid level manager making 20k can easily save >50% of his salary.

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  #1723 (permalink)  
Old 24-07-2012, 09:37 AM
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Here's a perspective from someone in that generation: I'm 28 and my wife is 25. I'm earning about $9k+ pm and she is earning mid $3k+.

I spend $2.2k per month on car loan, parking, fuel. $1.5k goes to our parents. I chalk $1.5-$2k on credit cards. We bought a 3RM condo in 2010 and currently pay it off via a mix of CPF and cash. $2k per month of my salary goes to the loan. $350 goes to a ILP I had bought for us. $250 goes to endowment plan for kid.

So this means S$8,300 worth of standard monthly expenses. I save about 20-25% of our combined take home pay.

I feel comfortable with current expense/income ratio as we've settled most of life's big purchases. If anything, I can cut back on amount we give our parents since they don't really need our support anyway. We are young = they are still working.

Judging by what u wrote,

Your monthly expenses are too high.

Roof over yr head is not an investment. It is a necessity.

You are driving expensive car and staying in Condo at such a young age. Both of you still in the mist of building a family.

Combine income = $12,000
Saving / mth = $2,400-$3000

Assuming both of u are highly discipline in your saving, we are talking about $25,000-$30,000/ yr.

In 10 years time, u would have accumulated $300,000, mathematically speaking. Taking into inflation, yr net worth is around $180,000. By then, u and yr wife is in the late 30s.....

Given the prevailing market situation, it is highly possible for one to lose their job easily.... What happen when one of u, especially u, lose yr job.

Does it sound good to u?

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  #1724 (permalink)  
Old 24-07-2012, 11:03 AM
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Quote:
Originally Posted by Unregistered View Post
Hallo Pretz

Thanks for sharing your insights with us.
Are you with an owner or trading house as chartering ?
(** I am suspecting oil majors are out as they typically are unable to pay that well)

Your 174K/yr package (12.4K/mth)
Is this all in, or excludes performance bonus ?

Will be great if you can share some insights.

Cheers.
Hi Unregistered, I am with a trading house with its own vessels. We don't own them, but TC them in (layman terms: "rent them").
$174k/annum is before performance bonus and allowance.


Quote:
Originally Posted by Unregistered View Post
I will suggest if you do not fully understand the industry Pretz is in, it will be better to keep your shallow comments to yourself. Try googling freight trading / chartering to find out more.

************

I wonder this boss of yours, is he a employed manager or he owns this company.

If he is a salaried man, he is taking no ownership of the company fund and spending it irresponsibly on overpaying the staff. How can one ask the interviewee to add 20% to his existing pay followed by a 33% inclement before asking your existing salary?

If he owes this company, it will be extremely unusual for him to spend his money to overpay his staff unless he/she very sought after.
His rationale is Singaporean companies abuse employees by constantly low-balling them on their salary, only offering minimal increases when threatened with resignation. Hence the 20%.

As for the 33%, the reasons for such is because in the grand scheme of things, paying me $3-4k more per month, means nothing. $3-4k a month equates to about USD70k, if you factor in the bonus and variables based of that increase. 1 wrong/right move by me, could cost/profit the company far more than my meagre salary. I'm not ashamed to admit i am pretty damn good at what i do, which is how i came to be here in the first place. Don't ask me to balance accounts or do long-term strategic planning though.... my knowledge is niche and completely untransferable to another industry.
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  #1725 (permalink)  
Old 24-07-2012, 11:08 AM
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Quote:
Originally Posted by luwb View Post
R u serious? adding 20% followed by a 33% inclement without asking one's existing salary first is a shallow comment?

I rest my case.
Just being neutral, my boss that hired me owns the company. He also owns 49% of a major shopping mall along Orchard road among other investments.

He pays well for good employees; I'd like to think that he saw enough value in me to say such things to me. It has worked, i'm a very happy employee and i work much harder for him than anyone else.
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  #1726 (permalink)  
Old 24-07-2012, 11:32 AM
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Quote:
Originally Posted by pretz View Post
Just being neutral, my boss that hired me owns the company. He also owns 49% of a major shopping mall along Orchard road among other investments.

He pays well for good employees; I'd like to think that he saw enough value in me to say such things to me. It has worked, i'm a very happy employee and i work much harder for him than anyone else.
There u go, yr situation concur with my second conclusion. U r sought-after.
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  #1727 (permalink)  
Old 24-07-2012, 11:40 AM
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Originally Posted by pretz View Post
My first post as a registered forumer here, a contribution to the data.

32 yrs old (1979)
Education level : A-level (CJC), also some rubbish $2000 Dip.BA from Uni NSW from Kaplan when i was 26
Sorry that should read as ACJC! AC all the way!
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  #1728 (permalink)  
Old 24-07-2012, 11:58 AM
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21 yrs old. earning close to 300k/annum. Selling online credits.
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  #1729 (permalink)  
Old 24-07-2012, 12:08 PM
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21 yrs old. earning close to 300k/annum. Selling online credits.
for games? can teach?
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  #1730 (permalink)  
Old 24-07-2012, 12:25 PM
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Quote:
Originally Posted by pretz View Post
Just being neutral, my boss that hired me owns the company. He also owns 49% of a major shopping mall along Orchard road among other investments.

He pays well for good employees; I'd like to think that he saw enough value in me to say such things to me. It has worked, i'm a very happy employee and i work much harder for him than anyone else.
can you share how u got the interview in the 1st place?
this kinda job got put on adv in the newspaper?
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