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| Income and Jobs Discuss jobs, career options and of course salaries |
Topic Review (Newest First)
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| 07-05-2018 08:53 AM | ||
| Unregistered |
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However it does not define how the salary is computed... I think like the above poster said, it is more relevant to talk about annual salary. |
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| 06-05-2018 11:12 AM | ||
| Unregistered | From my point of view, I always look at annual salary. This is the amount that will be included in tax assessment and calculating CPF. This is the amount that will still be credited to us. | |
| 06-05-2018 09:08 AM | ||
| Unregistered |
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Did you see the excel table? Or the MOM statistics? |
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| 06-05-2018 08:55 AM | ||
| Unregistered |
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No point taking your ANNUAL salary and dividing it by 12. So just refer to your MONTHLY or ANNUAL salary to avoid confusion. |
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| 03-05-2018 04:46 PM | ||
| Unregistered |
What you earn vs what you save How much you earn is only half the story. The other equally important half is how much you can save each month/year from your salary. While we chase after higher and higher salaries, dont forget to see how much of the income you can retain (save) each month, each year. If you can save $60K each year out of an annual income of $120K, you are already doing better than someone saving $50k out of $200K annual income. This was how we did as a couple in our savings history : Starting off as a married couple (30 yo) to 40 yo : Annual household savings - $50K average (~28% of salary) 40 yo to 45 yo -- $75K ave (~37% of salary) 45 yo to 50 yo -- $130k ave (~43% of salary) 50 to 55 yo -- $330k ave (90% of salary) 55 to now -- $450k ave (98% of salary) The higher savings came from the following combination of factors: 1. Tapering off of financial commitments (home loan, car loan, children's education... 2. Salary increases (promotion, better bonuses, increased benefits, etc.) 3. Passive income increases from investment The earlier you are able to save 100% of your earned income, the closer you are to financial independence! We are already too late. Nobody told us about investing for passive income. Then we only know how to save but not invest. |
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| 03-05-2018 01:53 PM | ||
| Unregistered |
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First of all, the calculations in this summary is based on (12 months basic + all bonus) / 12 which means if consider AWS + 2 months average salary, you should be earning 12.5k/month in this summary table. For easy calculations, we can used above $12k/month Age 25 to 29 around 3.1k which means 620/45,200 = 1.4% at each age earns above $10k/month Age 30 to 34 around 16.5k which means 3,300/47,400 = 7.0% at each age earns above $10k/month Age 35 to 39 around 34.5k which means 6,900/50,060 = 13.8% at each age earns above $10k/month Age 25 to 29 around 1.6k which means 320/45,200 = 0.7% at each age earns above $12k/month Age 30 to 34 around 10.0k which means 2,000/47,400 = 4.2% at each age earns above $12k/month Age 35 to 39 around 21.8k which means 4,360/50,060 = 8.7% at each age earns above $12k/month |
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| 01-05-2018 07:33 PM | ||
| Unregistered |
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To reach 10k base in my company will take a very long time. |
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| 01-05-2018 06:44 PM | ||
| Unregistered |
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If you compare with only degree or at least diploma, then although they are not majority, earning above 10k is a significant minority that most of us will likely know at least a few in our social circle. For e.g. in my co. (uk engineering mnc) ~30% of the staff are ranked in salary ranges > 10k. Previous co. was GLC proportion maybe lower, but I would say at least 15-20% of them are paid >10k. In banking this proportion is even higher as you only need VP or even some AVP can go >10k and there are more AVP/VPs in banks then Managers & Associates. |
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| 01-05-2018 02:05 PM | ||
| Unregistered |
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So while the median is 4k, > 10k is not exactly uncommon at certain ages. Personally, my gross monthly salary was around 5 ~ 6K by mid 30s and rising to >10K by end 30s. I was lucky; a door closed on me which lead to new doors opening and my salary jumped significantly within 3 years. |
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| 01-05-2018 02:04 PM | ||
| Unregistered |
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So while the median is 4k, > 10k is not exactly uncommon at certain ages. Personally, my gross monthly salary was around 5 ~ 6k by mid 30s and rising to >30 by end 30s. I was lucky; a door closed on me which lead to new doors opening and my salary jumped significantly within 3 years. |
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