SG Talk

Man puzzled by how so many Singaporeans earn “around $8-10K easily”

https://theindependent.sg/man-puzzled-by...0k-easily/

This Man should look into the mirror and see how useless he is!

Someone told me able to eat soft rice is a skill set by itself. After thinking I do agree with those eat soft rice men. They have a skills which I do not have so I need to slog till retirement. And no they seldom teach others how to eat soft rice lest their rice bowl broken

(12-02-2024, 11:33 AM)sgh Wrote: [ -> ]Someone told me able to eat soft rice is a skill set by itself. After thinking I do agree with those eat soft rice men. They have a skills which I do not have so I need to slog till retirement. And no they seldom teach others how to eat soft rice lest their rice bowl broken

IT and oil gas and finance alot of such people.

Other industry also have but not as prominent. Know some made big in events or animation..

Best don't do IT. Made money but became old fast...

More and more millionaires added each year
Resale flats selling at million dollars become a norm.
Another round of cooling measure ?

PAP purposely import FTs and must pay them 25% or 35% more than us

Now, they use Compass Framework for Employment Pass

This is for the Banking Sector-

These days fresh graduates can command around $4200 per month.

Years back less than 1 k per month
Blame it on inflation.

Fresh engineering graduates are drawing $5000 salary now

Each household has about 3 people. Excluding a kid, each household probably has two people working on average. So the median income is about 5k, not 8k to 10k.

(12-02-2024, 12:51 PM)starbugs Wrote: [ -> ]Each household has about 3 people. Excluding a kid, each household probably has two people working on average. So the median income is about 5k, not 8k to 10k.

Over at HWZ EDMW, many of the forumers claim to be earning $20K per month.  LOL! 

(12-02-2024, 12:51 PM)starbugs Wrote: [ -> ]Each household has about 3 people. Excluding a kid, each household probably has two people working on average. So the median income is about 5k, not 8k to 10k.

Ya...many families still less than 5 k per month. 
Some even lower. 

The report could be skewed towards those high SES  households. 
Times are still very hard .

(12-02-2024, 11:31 AM)mikotan Wrote: [ -> ]This Man should look into the mirror and see how useless he is!

  … truth hurts ….. 

Fresh Master's degree Data Scientist with 1-2yrs working experience starting 8-10k

Why did the author used the word "easily"?? coz he just want quick and easy money..

Go sell backside sure can get $8-10k easily

He is oblivious to the fact that there are more Singaporeans earning $2k per mth as retail shop assistants, F& B workers, cleaners etc

Rent out whole HDB unit Now current market rate is 3k min and above

Than stay with parents

Whereas on top with your full time job

Let say u earn close to 7k with 3k rental Already 10k per month lor

Spore has low tax .. As an investor, I have no capital gain and dividend tax to pay. As a result, ,my >120k annual investment income are not taxed at all. If you want to make money in Spore, think of doing investment or business..

Got one earned more than $14 million last year or more than $1 million per month.    

(15-02-2024, 08:28 AM)Huliwang Wrote: [ -> ]Got one earned more than $14 million last year or more than $1 million per month.  

You have been seen protesting at Toa Payoh MRT station

me not sure how others did but for me I drove PHV for 12 hr daily to earn that.

(15-02-2024, 08:46 AM)K88 shu shu Wrote: [ -> ]me not sure how others did but for me I drove PHV for 12 hr daily to earn that.

Don't forget to deduct your operating costs such as rental, petrol and other miscellaneous expenses incurred. What are your actual earnings from driving a PHV for 12 hours per day?

(14-02-2024, 10:44 PM)[[ForeverAlone]] Wrote: [ -> ]Rent out whole HDB unit Now current market rate is 3k min and above

Than stay with parents

Whereas on top with your full time job

Let say u earn close to 7k with 3k rental Already 10k per month lor

if you retiree, can rent out and live in JB. 3x3.5=10+K RM. Rent a studio for 1,5-2K ... still loose loose ... no stress

(12-02-2024, 12:56 PM)EvertonDiehard Wrote: [ -> ]Over at HWZ EDMW, many of the forumers claim to be earning $20K per month.  LOL! 

most if not all are big cannon fairy.

all bbfa income below $2K only.

That table in #6. <23 years old range between $6500 to $9000 is what kind of statistic number.

Which company pays that?!

(12-02-2024, 11:27 AM)Bigiron Wrote: [ -> ]Man puzzled by how so many Singaporeans earn “around $8-10K easily”

https://theindependent.sg/man-puzzled-by...0k-easily/

What's the big deal? A median household income of $10k means each salaried member is around $5.5k at the median level (slightly higher then $5k as need to account minority of households with only one person working).

This mean 50% of the people in Singapore are making more than $5.5k, so if you do a crude extrapolation outwards there's probably around 25% making $8k and above. That's 1 in 4 working adults in Singapore, so yar definitely one can "easily" find an above $8k dude hanging around easily.

This is an expected mathematical outcome, not some incongruence to reality which is what the letter writer seems to be implying.

(15-02-2024, 12:17 PM)maxsanic Wrote: [ -> ]What's the big deal? A median household income of $10k means each salaried member is around $5.5k at the median level (slightly higher then $5k as need to account minority of households with only one person working).

This mean 50% of the people in Singapore are making more than $5.5k, so if you do a crude extrapolation outwards there's probably around 25% making $8k and above. That's 1 in 4 working adults in Singapore, so yar definitely one can "easily" find an above $8k dude hanging around easily.

This is an expected mathematical outcome, not some incongruence to reality which is what the letter writer seems to be implying.

many can means high in number but not high in percentage.
take eg a hundred thousands is many but if represent as percent of two million labour force
that is quite low.

HWZ high ses? 

(16-02-2024, 12:07 AM)watchfirst9 Wrote: [ -> ]many can means high in number but not high in percentage.
take eg a hundred thousands is many but if represent as percent of two million labour force
that is quite low.

HWZ high ses? 

Yea, I reckon from the official statistics the proportion of the labour force earning above $8k is around 25%.

Singapore's resident labour population is around 2.5 million, so we are talking about ~625k people with income above $8k. It's a lot in both absolute and percentage terms, that's why I don't understand why the letter writer is reacting like he's very surprised that there are so many people around him making that much.

The stats and what he sees on the ground tallies nicely.

As for HWZ, haha I doubt you will find a lot of the 625k people in that forum.

(16-02-2024, 01:03 AM)maxsanic Wrote: [ -> ]Yea, I reckon from the official statistics the proportion of the labour force earning above $8k is around 25%.
Singapore's resident labour population is around 2.5 million, so we are talking about ~625k people with income above $8k. It's a lot in both absolute and percentage terms, that's why I don't understand why the letter writer is reacting like he's very surprised that there are so many people around him making that much.
The stats and what he sees on the ground tallies nicely.
As for HWZ, haha I doubt you will find a lot of the 625k people in that forum.

I not sure where you get 25% figure, because if so median wage and household should way higher.

https://blog.seedly.sg/median-income-sin...-increase/
 Data exclude full-time National Servicemen.
Data are for mid-year.
Residents refer to Singapore Citizens and Permanent Residents.
Gross monthly income from work refers to income earned from employment. For employees, it refers to the gross monthly wages or salaries before deduction of employee CPF contributions and personal income tax. It comprises basic wages, overtime pay, commissions, tips, other allowances and one-twelfth of annual bonuses. For self-employed persons, gross monthly income refers to the average monthly profits from their business, trade or profession (i.e. total receipts less business expenses incurred) before deduction of income tax.
As data are captured from a sample survey, year-on-year income changes are prone to fluctuations and should always be interpreted cautiously. Income growth studied over more extended periods (e.g. 5 or 10 years) smooths out these fluctuations and hence provides a more direct indication of income growth.

https://stats.mom.gov.sg/pages/income-su...table.aspx

Official number median wage include PRs which generally known to earn more than Sporeans 
and the wage include bonus which some get few months while others get none. 

If 25% holds water, then a company should see few workers. 
eg a company 2 manager, 2 senior engineer , 2 engineer, 2 technicians, no room for HR, admin clerk, delivery etc 
Is it common?

(16-02-2024, 10:07 PM)watchfirst9 Wrote: [ -> ]I not sure where you get 25% figure, because if so median wage and household should way higher.

https://blog.seedly.sg/median-income-sin...-increase/
 Data exclude full-time National Servicemen.
Data are for mid-year.
Residents refer to Singapore Citizens and Permanent Residents.
Gross monthly income from work refers to income earned from employment. For employees, it refers to the gross monthly wages or salaries before deduction of employee CPF contributions and personal income tax. It comprises basic wages, overtime pay, commissions, tips, other allowances and one-twelfth of annual bonuses. For self-employed persons, gross monthly income refers to the average monthly profits from their business, trade or profession (i.e. total receipts less business expenses incurred) before deduction of income tax.
As data are captured from a sample survey, year-on-year income changes are prone to fluctuations and should always be interpreted cautiously. Income growth studied over more extended periods (e.g. 5 or 10 years) smooths out these fluctuations and hence provides a more direct indication of income growth.

https://stats.mom.gov.sg/pages/income-su...table.aspx

Official number median wage include PRs which generally known to earn more than Sporeans 
and the wage include bonus which some get few months while others get none. 

If 25% holds water, then a company should see few workers. 
eg a company 2 manager, 2 senior engineer , 2 engineer, 2 technicians, no room for HR, admin clerk, delivery etc 
Is it common?

As I explained earlier, I am simply extrapolating as the government does not publish 75th percentile numbers. I cannot know for sure, but if you have a different view of how the extrapolation should be modeled, I am open to suggestions.

As for your comment on employee demographic of a typical company, I think it's a bit hard to generalize what a typical company looks like because it varies significantly. For e.g. in a labour intensive company you will likely have less than 10% of the population who make above $8k based on the quoted government definition. On the other hand in a knowledge intensive company, it is likely most of the employees earn above $8k.

For e.g. in an area that I am more familiar with i.e. a typical Asia Pacific / Asia Middle East RHQ of a foreign MNC, I would say the split is around 60 : 40. About 60% above $8k (managers / analyst & above) and the other 40% below (execs, admin, clerks etc.) But like I said it will vary significantly from company to company.

(16-02-2024, 10:24 PM)maxsanic Wrote: [ -> ]As I explained earlier, I am simply extrapolating as the government does not publish 75th percentile numbers. I cannot know for sure, but if you have a different view of how the extrapolation should be modeled, I am open to suggestions.

As for your comment on employee demographic of a typical company, I think it's a bit hard to generalize what a typical company looks like because it varies significantly. For e.g. in a labour intensive company you will likely have less than 10% of the population who make above $8k based on the quoted government definition. On the other hand in a knowledge intensive company, it is likely most of the employees earn above $8k.

For e.g. in an area that I am more familiar with i.e. a typical Asia Pacific / Asia Middle East RHQ of a foreign MNC, I would say the split is around 60 : 40. About 60% above $8k (managers / analyst & above) and the other 40% below (execs, admin, clerks etc.) But like I said it will vary significantly from company to company.

tks for sharing that there is such company.
but I still think pyramid  shape is more common than invert pyramid like  
https://www.istockphoto.com/nl/vector/ca...2-11795530