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How much are you earning per annum?

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  #2161 (permalink)  
Old 11-03-2013, 10:17 PM
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Here is a benchmark for the younger folks and locals. Sincerely hope that you do better than me when you reach my age. However, I am contented and hope to retire in a few years to give opportunity to others.

Age 50
Regional role in MNC
I worked up the ranks 25 years ago with the same MNC.
Annual 330 plus 50-100k bonus depends on company performance
Stock benefits 20 - 30K per year which can multiply to about 100k but vest only 3 years
Car allowance 30k per year
Large but old apartment fully paid
$2.5 million in cash and investment
700k in CPF
children still need to complete college so will use up some of the cash

Just some words of wisdom for those who care otherwise ignore.

If you want to be successful in a large MNC, you got to work smart more than hard. Ensure you are visible in the organization and raise your hand for any opportunities when you are young. Also, it is better to stay with one company as long as possible because the casual network you form will be very important and valuable for your own development and progress. Help as many people as possible in the organization and be a good mentor for young folks when you are mid level manager. A pay forward attitude is good and can be very helpful.

My company has gone through 4 to 5 reduction in force over the years. Those that did not survive did the opposite of the above.

I've also seen many local high calibre mid level manager hired and fired within a few years because they are more talk but lack substance. Mind you, most foreign bosses (especially US) like to hire people that resembles themselves but will get a shock when the local actually behaves like them.

You will be surprise how many promotions are made by some big bosses sitting in a room and deciding basing on who they have interacted with most recently.

Hope this is useful.
Excellent advice, sir. I will heed it for my own career development. May I ask which industry you're in? It seems the stay with 1 company career track is a lot more difficult nowadays, with restructuring the norm and loyalty not being rewarded. Myself I'm a manager in an IOC.

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  #2162 (permalink)  
Old 12-03-2013, 06:28 AM
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Excellent advice, sir. I will heed it for my own career development. May I ask which industry you're in? It seems the stay with 1 company career track is a lot more difficult nowadays, with restructuring the norm and loyalty not being rewarded. Myself I'm a manager in an IOC.
IOC means international oil company? My company is providing services to manufacturing and production companies.

My perspective is from staying with one company and it has gone through turmoils as well. I am not saying do not look for opportunities outside. I've been headhunted and also offered jobs by others in my industry. I will never know if I will be better off if I jumped ship.

I am tracking 2 of the people that I used to manage and currently in their late 30ís. Both have jumped two times and are doing well in terms of salary at their age. Both just changed job within the last 2 years. Not sure if they will be contented because at their age and salary levels , the new companies will expect performance and delivery.

First to go are normally those that are hired mid level with very good pay. But because of less personal network and creditability with the organization, they appear in the 'list' more so often when the company restructure.

One can be loyal to people but not to a company. When an MNC makes changes, it is almost faceless. The decision is to benefit the top people and the shareholders which normally do not have emotion connectivity to the working people. That is the reason I feel the longer tenure with a company will help you build the people network that is very valuable when you need it most.

Cheers.

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  #2163 (permalink)  
Old 12-03-2013, 12:21 PM
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Like some good quality post, I'd like to share mine (nothing bloated from real figure).

Investment Bank - VP - IT
35 yrs old
199k (incl. base, car allowane and additional pay which basically a bonus paid in advance)
0 bonus



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  #2164 (permalink)  
Old 12-03-2013, 06:30 PM
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Like some good quality post, I'd like to share mine (nothing bloated from real figure).

Investment Bank - VP - IT
35 yrs old
199k (incl. base, car allowane and additional pay which basically a bonus paid in advance)
0 bonus
Must be Barcap.
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  #2165 (permalink)  
Old 12-03-2013, 07:26 PM
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45, COO
Been in my industry all my work life, headhunted many times throughout my career
$800k per annum, including bonuses
Bungalow, fully paid
5 investment properties, fully paid
Work hard and smart, don't ever back stab others
Be a man of substance and truth always
Hope this is useful guidance for all
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  #2166 (permalink)  
Old 12-03-2013, 08:39 PM
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Quote:
Originally Posted by Unregistered View Post
45, COO
Been in my industry all my work life, headhunted many times throughout my career
$800k per annum, including bonuses
Bungalow, fully paid
5 investment properties, fully paid
Work hard and smart, don't ever back stab others
Be a man of substance and truth always
Hope this is useful guidance for all
Thanks for the advice, but with all respect, is that all that sets you apart from the rest? I mean -- surely there must be some attributes that propel you to be such a high earner.


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  #2167 (permalink)  
Old 15-03-2013, 10:36 PM
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Turning 30 this year
Job: 5 yrs in petrolchemical line
Gross: $50k-55k (including of AWS,Bonus,etc)
Live in 3rm flat in city area, currently sole breadwinner of family of 2..
Flat, renovation, car all under loan.. Barely make ends meet a month..
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  #2168 (permalink)  
Old 15-03-2013, 11:08 PM
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Quote:
Originally Posted by Unregistered View Post
Here is a benchmark for the younger folks and locals. Sincerely hope that you do better than me when you reach my age. However, I am contented and hope to retire in a few years to give opportunity to others.

Age 50
Regional role in MNC
I worked up the ranks 25 years ago with the same MNC.
Annual 330 plus 50-100k bonus depends on company performance
Stock benefits 20 - 30K per year which can multiply to about 100k but vest only 3 years
Car allowance 30k per year
Large but old apartment fully paid
$2.5 million in cash and investment
700k in CPF
children still need to complete college so will use up some of the cash
Appreciate the sharing, but honestly your net worth (i'm guessing $5M) at your age is rather average. i'm 36 and approaching $3M net worth which i feel is under achieving and my aim is for at least $10M by 45 and just earning a salary is not the way
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  #2169 (permalink)  
Old 15-03-2013, 11:09 PM
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Quote:
Originally Posted by Unregistered View Post
Turning 30 this year
Job: 5 yrs in petrolchemical line
Gross: $50k-55k (including of AWS,Bonus,etc)
Live in 3rm flat in city area, currently sole breadwinner of family of 2..
Flat, renovation, car all under loan.. Barely make ends meet a month..
That means you can't afford to lose your job.
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  #2170 (permalink)  
Old 16-03-2013, 01:06 PM
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Age: 31
Income in 2012: 108K
Home: OCR condo
Assets: industrial property
Cash: 20K

But I still feel poor. No money to buy car with the new tight car financing measures. No money to upgrade with the cooling measures. Tried shares and forex but terrible at it.
Calling the self-made high net worth readers, need your advice. How can I improve my financial situation above? Only have 20K ...
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