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How much are you earning per annum?

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  #921 (permalink)  
Old 09-11-2011, 10:42 AM
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I am a senior personnel in IT department of a BB. late 30s.

earning abt 200k base pay + 3 months bonus (nothing to shout abt)

has been trough 2 cycles of recessions, from asian financial crisis, dotcom bust and recent credit crisis. not worried abt retrenchment becos i of the intimate knowledge of the inner workings of the systems in the bank.

hours at work are manageable and i strike a good balance between work/life.

but most importantly, for me, it's not all abt money.

i enjoy what i do!

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  #922 (permalink)  
Old 09-11-2011, 11:13 AM
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For now la. What are you going to do with all the accumulated money? Even if you don't spend it your children will.

That's what I tell my dad anyways. Which I kinda regret cause he is now spending all his money on things like renovating the house.. digging A FISH POND even! Sad that he is not into cars though ... haha. Still drives his lau pok Japanese car don't want to change.


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Yes I can vouch for that. I'm a banker drawing $300k in my early 30s. I live in a suburban hdb and drive a second hand entry level jap car. and first hand I can tell u that I'm not unique. I know couples which are drawing $700k in aggregate and live the same way as I do.

The banker caricature we read about are much overblown.


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  #923 (permalink)  
Old 09-11-2011, 01:52 PM
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Yes I can vouch for that. I'm a banker drawing $300k in my early 30s. I live in a suburban hdb and drive a second hand entry level jap car. and first hand I can tell u that I'm not unique. I know couples which are drawing $700k in aggregate and live the same way as I do.

The banker caricature we read about are much overblown.
700k and live in HDB? give others a chance lah. go live in sentosa cove, and there will be 1 more HDB available to the more deserving.

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  #924 (permalink)  
Old 09-11-2011, 02:11 PM
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1 more HDB available to the PRs. Normal Singaporeans now stay HDB also must stay in the outskirt. Heartland areas COV so high only the PRs can afford

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700k and live in HDB? give others a chance lah. go live in sentosa cove, and there will be 1 more HDB available to the more deserving.
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  #925 (permalink)  
Old 09-11-2011, 07:47 PM
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700k and live in HDB? give others a chance lah. go live in sentosa cove, and there will be 1 more HDB available to the more deserving.
Well, I think we want to move to private housing at some point in time. But in these things, timing is everything. Many bankers don't think its an optimal time right now cos the property market looks quite frothy right now, given that we appear to be at the cusp of a liquidity crisis globally, and interest rates are at an all time low and can only go up (tho it may stay low for a time).

Also, bonuses next yr aren't expected to be fantastic (hence we may not see $300k or $700k as the case may be this year). And as a poster has mentioned, our bonus may be in the form of keeping our jobs.

So for now, hdb it is.
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  #926 (permalink)  
Old 10-11-2011, 12:37 AM
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Well, I think we want to move to private housing at some point in time. But in these things, timing is everything. Many bankers don't think its an optimal time right now cos the property market looks quite frothy right now, given that we appear to be at the cusp of a liquidity crisis globally, and interest rates are at an all time low and can only go up (tho it may stay low for a time).

Also, bonuses next yr aren't expected to be fantastic (hence we may not see $300k or $700k as the case may be this year). And as a poster has mentioned, our bonus may be in the form of keeping our jobs.

So for now, hdb it is.
now that even high-earning bankers stay in HDB, the gahment should create another type of housing called squatters or slums for the non-bankers.
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  #927 (permalink)  
Old 10-11-2011, 11:26 AM
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since you've been an actual banker, maybe you can do some good here by giving good advice on how to get into the banking industry and quickly make enough to retire at 40?

thanks in advance and appreciate your kind advice.
I'm not a banker or any high flyer but i know a few friends who is a high flyer.
They said 2 things.
1) Good Networking. Know the right people.
2) Luck. Know the right people at the right time.

if you have both in abundance, you can have a huge house @ Nassim Road and maybe a couple of properties @ Sentosa Cove.
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  #928 (permalink)  
Old 11-11-2011, 10:54 AM
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Yes, 10 years ago when I was still in school I believed it was capability that would get you places. Now after working close to 10 years I realize it's all about connections and luck. I wonder why I studied so hard in school.
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  #929 (permalink)  
Old 11-11-2011, 02:10 PM
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Yes, 10 years ago when I was still in school I believed it was capability that would get you places. Now after working close to 10 years I realize it's all about connections and luck. I wonder why I studied so hard in school.
learn your lesson and teach your kids the right values.

now i know why the parents of some rich kids don't really care about their grades. in a way, it also levels the playing field for the poorer kids.
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  #930 (permalink)  
Old 11-11-2011, 03:32 PM
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Yes I can vouch for that. I'm a banker drawing $300k in my early 30s. I live in a suburban hdb and drive a second hand entry level jap car. and first hand I can tell u that I'm not unique. I know couples which are drawing $700k in aggregate and live the same way as I do.

The banker caricature we read about are much overblown.
It's not overblown. I used to be like you. Earn a lot (peaked at $1m/yr), live in HUDC, drive Jepun chia. But that was in my early 30s. By my early 40s, I said screw it and bought a $500K Porsche cabriolet. Now when I stop at the lights with the top open, all the girls look at me and all the guys hate me. I love it.
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