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How much are you earning per annum?

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  #771 (permalink)  
Old 07-09-2011, 10:54 PM
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Originally Posted by bo lui View Post
YR 1: 2.3k/month. Bonus = 0.
YR 2: new company. 3k/month. Current YR 2.

Degree.

Is this lousy? I have degree, and jump of 700 was good, but now YR 2 only 3K/month. Feels very pathetic, after CPF and giving parents money, expenses...etc. Of course if every year jump 700 will be damn good la, but if stay for 3 years, I hear average company raise is 5%? My first company give 5% but I thought real low so I jumped. At 5% with 3K, only 3.5K after 4 years of work.

My friends advise me stay in pvt. sector cos in long run, will earn MUCH more than govt. But my govt. working friends all making 3+K first year, like DSTA engineers 3.5+. I think their increase also can't be less than 5% what. And one of my teacher friends was complaining, teacher pay increment about 150 a year only. At 3K, that's exactly 5% what. Somemore, I see police/prison that kind, with degree starting already 3 to 3.5K. Even saw some anti-criminal group call CPIM paying 3.8K, yet I never heard of this group of people before. Seems like just investigate govt corruption only, can't be as hard as people investigating commercial crimes what, and I get the feeling it's really zuo bo lan play computer game only. Last time I always tot policeman = poor. Actually where got? Probably 5K in 5 years, which is not too shabby what. Not to look down on them (I actually think it will be fun being police), but their job also quite slack what, pay good and stable. Those are degree people of cos, diploma maybe different. But heard someone diploma about 5+ years with Prison department, earning 5K (and i think it's not fake de).

How sia, I think 3K at YR 2 is quite demoralizing. On bus always dreaming of getting some sponsorship to study Masters then lucky strike into bank/consulting and command 5-6K with average prospects easily to 10K.
Let not say about those in the banking/financial sector, we cannot compare to them.
How about comparing engineer in the private sector vs engineer in the civil service.

For my case 2nd lower NTU mechanical engineering, from private GLC engineering firm
2007sept(fresh grad) = 2900
2008july = 297x
2009pay freeze = 297x
2010oct(wage adj + annual increment + promotion) = 339x
2011july(wage adj + annual increment) = 371x

my friend from DSTA same 2nd lower same degree NTU, starting at 3280, now getting 41xx already....

both our annual package is about 16mth

All I can say is that the majority people annual increment in my company is only 3%, only the best get 4-5% AI.

Government sector pay better annual increment like between 150 - 350 per year

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  #772 (permalink)  
Old 08-09-2011, 09:28 PM
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Originally Posted by why? View Post
I have been working in the financial industry for the past 15 years with the same company.
I will be 46 soon.

My annual package have increased gradually over the years but I feel my package is below industry average. With an MBA and doing a front office job, I thought an annual package of S$140K is too low.

I heard new young graduates are getting close to my package!

I feel like moving to other companies but am comfortable with my current environment and great colleages. I also feel uncomfotable talking to my boss or HR about my pay.

What should I do? Any HR experts care to share?

Thanks
Firstly, i can't help you with your inquiries.

Secondly, S$140k is too low??? Wow!!! how can S$140k per annum be too low? I'm super ecstatic with just S$100k per annum (Hopefully i'll get to that level soon). I hope you're living a very comfortable life. If not, hmmmm... i'm speechless.

Finally, you're 49 years old man/woman, an adult. You should not "feel uncomfortable" talking to your boss or HR. In addition, you've been working at the same company for the past 15 years. There must be some mutual understanding. Well, i hope you get your increment you crave for.

All the best and Good luck!

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  #773 (permalink)  
Old 08-09-2011, 11:01 PM
bo lui
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Originally Posted by Unregistered View Post
Let not say about those in the banking/financial sector, we cannot compare to them.
How about comparing engineer in the private sector vs engineer in the civil service.

For my case 2nd lower NTU mechanical engineering, from private GLC engineering firm
2007sept(fresh grad) = 2900
2008july = 297x
2009pay freeze = 297x
2010oct(wage adj + annual increment + promotion) = 339x
2011july(wage adj + annual increment) = 371x

my friend from DSTA same 2nd lower same degree NTU, starting at 3280, now getting 41xx already....

both our annual package is about 16mth

All I can say is that the majority people annual increment in my company is only 3%, only the best get 4-5% AI.

Government sector pay better annual increment like between 150 - 350 per year

Wow...2900 - 2970, from 2007 to 2010, 3 years, only 70 bucks increase? How come you never consider jumping? How to feel any motivation if starting 3 years of career already so slow?

But, then your 2010 increase not bad. 400+, I guess largely due to promotion.
And 2011 without promotion up 300+, much more than your first 3 years.

Although start slow, looks like you did pretty well. Average 200+ increase per year (plus a promotion). That's more than 5% increase per year from your starting salary.


Cham la. Looks like must weasel my way into financial world already.
But I have a friend in citibank, said that after his first year, average increment @ citi of 2%. Maybe for every 1 big banker out in this forum, there's 99 people at a citi/uob/dbs cubicle fighting for scraps. 2 percent!? omg, if my 3K salary gets 2%, only 60 bucks. Be damn sad.

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  #774 (permalink)  
Old 08-09-2011, 11:16 PM
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Originally Posted by bo lui View Post
Wow...2900 - 2970, from 2007 to 2010, 3 years, only 70 bucks increase? How come you never consider jumping? How to feel any motivation if starting 3 years of career already so slow?

But, then your 2010 increase not bad. 400+, I guess largely due to promotion.
And 2011 without promotion up 300+, much more than your first 3 years.

Although start slow, looks like you did pretty well. Average 200+ increase per year (plus a promotion). That's more than 5% increase per year from your starting salary.


Cham la. Looks like must weasel my way into financial world already.
But I have a friend in citibank, said that after his first year, average increment @ citi of 2%. Maybe for every 1 big banker out in this forum, there's 99 people at a citi/uob/dbs cubicle fighting for scraps. 2 percent!? omg, if my 3K salary gets 2%, only 60 bucks. Be damn sad.

Usually no cubicles in banks. Just desks only. Even my boss's boss earning 300k sits along same row of desks as me. Those swaggy traders earning big time in dealer room also sit at desks only.

When I was in DSTA, my cubicle was super big and luxurious.

My new theory: Cubicle dwellers typically earn less. The bigger it is the lower the pay!
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  #775 (permalink)  
Old 08-09-2011, 11:27 PM
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Originally Posted by Unregistered View Post
Usually no cubicles in banks. Just desks only. Even my boss's boss earning 300k sits along same row of desks as me. Those swaggy traders earning big time in dealer room also sit at desks only.

When I was in DSTA, my cubicle was super big and luxurious.

My new theory: Cubicle dwellers typically earn less. The bigger it is the lower the pay!
Since you are in DSTA b4, got some question to ask you

in year 2007, the starting salary for fresh grad is 3280 for 2nd lower (with NS),

how much is he going to earn per month after 3 years.

how much is the annual increment, how many %?

how much is the promotion increment, how many %?
Is there such thing call promotion bonus, when you get promotion for that month you got promoted?

how much bonus do average performer get in DSTA (inclusive AWS)?
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  #776 (permalink)  
Old 08-09-2011, 11:41 PM
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Originally Posted by bo lui View Post
Wow...2900 - 2970, from 2007 to 2010, 3 years, only 70 bucks increase? How come you never consider jumping? How to feel any motivation if starting 3 years of career already so slow?

But, then your 2010 increase not bad. 400+, I guess largely due to promotion.
And 2011 without promotion up 300+, much more than your first 3 years.

Although start slow, looks like you did pretty well. Average 200+ increase per year (plus a promotion). That's more than 5% increase per year from your starting salary.


Cham la. Looks like must weasel my way into financial world already.
But I have a friend in citibank, said that after his first year, average increment @ citi of 2%. Maybe for every 1 big banker out in this forum, there's 99 people at a citi/uob/dbs cubicle fighting for scraps. 2 percent!? omg, if my 3K salary gets 2%, only 60 bucks. Be damn sad.
my promotion increment is only +$13x
my annual increment is only +$11x for year 2011
my annual increment is only +$8x for year 2010
you can guess how much is the (wage adj amt).

(wage adj) is only given when the economy pick up and to match the salary to other sector to stay competitive. In the normal year, we only get about +3.2% annual increment.
if you exclude the (wage adj) portion, the pay is really sux
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  #777 (permalink)  
Old 09-09-2011, 09:01 AM
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so sian... when will i get above 10k/mth salary... :S
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  #778 (permalink)  
Old 09-09-2011, 02:34 PM
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Quote:
Originally Posted by Unregistered View Post
my promotion increment is only +$13x
my annual increment is only +$11x for year 2011
my annual increment is only +$8x for year 2010
you can guess how much is the (wage adj amt).

(wage adj) is only given when the economy pick up and to match the salary to other sector to stay competitive. In the normal year, we only get about +3.2% annual increment.
if you exclude the (wage adj) portion, the pay is really sux

In reality you may be getting a pay cut because of inflation. This is not good.
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  #779 (permalink)  
Old 09-09-2011, 06:00 PM
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Originally Posted by bo lui View Post
Maybe for every 1 big banker out in this forum, there's 99 people at a citi/uob/dbs cubicle fighting for scraps. 2 percent!? omg, if my 3K salary gets 2%, only 60 bucks. Be damn sad.
Yup this is reality... 3/4s of the bank are usually in middle/back office roles which do not pay a gazillion dollars and increments are just normal 2-3% types...

Heck i got $10 increment once... in 2009.. front office banking somemore...
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  #780 (permalink)  
Old 10-09-2011, 04:18 PM
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Originally Posted by Unregistered View Post
Yup this is reality... 3/4s of the bank are usually in middle/back office roles which do not pay a gazillion dollars and increments are just normal 2-3% types...

Heck i got $10 increment once... in 2009.. front office banking somemore...
Giving $10 increments to employees is downright cruel.

I was once standing next to a colleague who had a $15 increment. She was opening her increment notice envelope.

She broke down in tears saying it is not enough to take a cab home with $15.

Sad.
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