How much are you earning per annum?

I currently earn north of 1mil annually. am very happy because my colleagues earn at only 850k for the same amt of work. I have leave next week to Munich for a fortnight...can get to shake leg abit and catch up with my deustch kakis and lim German beer!

Originally Posted by Unregistered

I currently earn north of 1mil annually. am very happy because my colleagues earn at only 850k for the same amt of work. I have leave next week to Munich for a fortnight...can get to shake leg abit and catch up with my deustch kakis and lim German beer!

Yawn........

Originally Posted by BigTime

I currently earn north of 850k annually. but am still very unhappy because my colleagues earn at least 1 mil for the same amt of work. sad life At least I have leave next week to Paris for a fortnight...can get to shake leg abit and catch up with my french kakis and lim french kopi!

Hmmm, you don't happen to be our minister siboh? Ooops, minister earn $2M.... yeah work harder lah, you are really far behind us. All earning about North of $1.5M actually...

Originally Posted by Unregistered

I will be turning 40 this year. Been in a low paying job all these years. When I read this forum, I get demoralized as many here earn at least $100k pa, whereas I'm earning only $50k pa. I'm also jealous of the property flipping stories shared my many rich people here. I can't even dream of that as most of my pay went towards paying bills after bills. Don't have much in the bank for a downpayment for a condo. I can only dream of upgrading from my 3 room flat to a 5 room flat. Many of my friends are living either in a condo or a landed property. Wondering whether I should take up a second job, such as part time taxi driving, to enable me to save to upgrade to a condo. Can someone advise what I should do? I want to live in a condo to match up with my friends.

This may not be much of a consolation, but the median monthly income in 2011 is around $3k, according to the MOM report on wages in 2012 (the 2013 report is not out yet). So at least half the people in Singapore are earning less than you. The posters in this forum are not representative of what most people earn. Unfortunately, I don't have any specific advice to dispense. Maybe upgrade to a 5-room flat if you can afford to, and rent out a room for pocket money and to accummulate more savings.

Originally Posted by Unregistered

This may not be much of a consolation, but the median monthly income in 2011 is around $3k, according to the MOM report on wages in 2012 (the 2013 report is not out yet). So at least half the people in Singapore are earning less than you. The posters in this forum are not representative of what most people earn. Unfortunately, I don't have any specific advice to dispense. Maybe upgrade to a 5-room flat if you can afford to, and rent out a room for pocket money and to accummulate more savings.

Also you might be interested to know posters here could have multiple personalities. For eg, in one post, I could be in my mid fifties, retired and enjoying rentals of $120K pa from 3 investment condos or I could be in my late 40s with $200K pa and staying in a landed property with a condo to collect rent, or I could be a thirty something single struggling to keep with up with $50K pa and still living with my parents in a 4 rm HDB.

Dont be too affected by the posts here - none of which has a name to it and thus the claims are not verifyable.

That there are rich people in Singapore should not be surprising as there are in all other countries. Singapore is still an open economy and society and everyone has a chance to make it. And then there is also toto - once in a while an ordinary dude gets to level up.

Originally Posted by Unregistered

This may not be much of a consolation, but the median monthly income in 2011 is around $3k, according to the MOM report on wages in 2012 (the 2013 report is not out yet). So at least half the people in Singapore are earning less than you. The posters in this forum are not representative of what most people earn. Unfortunately, I don't have any specific advice to dispense. Maybe upgrade to a 5-room flat if you can afford to, and rent out a room for pocket money and to accummulate more savings.

Thanks for the consolation, but I can't help feeling unhappy knowing my friends stay in private properties. I feel low when meeting them. I think i need to avoid them more. I may just consider renovating my flat instead of upgrading. Make it feel like a luxury condominium unit.

Originally Posted by Unregistered

This may not be much of a consolation, but the median monthly income in 2011 is around $3k, according to the MOM report on wages in 2012 (the 2013 report is not out yet). So at least half the people in Singapore are earning less than you. The posters in this forum are not representative of what most people earn. Unfortunately, I don't have any specific advice to dispense. Maybe upgrade to a 5-room flat if you can afford to, and rent out a room for pocket money and to accummulate more savings.

$3K monthly income may be the median but according to the latest report, the per capita income in Singapore is $65K pa. Quote from the report :-

"Singapore has one of the highest concentrations of millionaires relative to its population, but the city-state's per capita income of more than S$65,000 in 2012 masks a sharp income gap between the richest and poorest"

Per capita income mean income per person. So for a family of 4, that implies a household income of $260K pa.

Only earning 280k before bonus...compared to many here, it's like a bag of peanuts. Sweet, salty, tasty, crunchy, delicious peanuts in a designer bag...but peanuts nonetheless.

Originally Posted by Unregistered

$3K monthly income may be the median but according to the latest report, the per capita income in Singapore is $65K pa. Quote from the report :-

"Singapore has one of the highest concentrations of millionaires relative to its population, but the city-state's per capita income of more than S$65,000 in 2012 masks a sharp income gap between the richest and poorest"

Per capita income mean income per person. So for a family of 4, that implies a household income of $260K pa.

The per capita income is skewed by top earners. The report already said that the per capita income masks a sharp income gap between the richest and poorest. The median wage, not the average wage, is a better indicator of what most people earn.

Originally Posted by Unregistered

$3K monthly income may be the median but according to the latest report, the per capita income in Singapore is $65K pa. Quote from the report :-

"Singapore has one of the highest concentrations of millionaires relative to its population, but the city-state's per capita income of more than S$65,000 in 2012 masks a sharp income gap between the richest and poorest"

Per capita income mean income per person. So for a family of 4, that implies a household income of $260K pa.

$260k sounds pretty high, I suspect the actual household income is closer to 200k.