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Income Tax Calculator YA2015

March 5th, 2015

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It’s tax filing season again. The good news is that all tax residents this year will enjoy an income tax rebate of 50%, subject to a limit of $1k.

Announced by DPM Tharman in his Budget 2015 speech, this generous rebate is part of the SG50 Jubilee celebration.

Income Tax Rebate 2015

Here’s our income tax calculator for this year (YA2015). Just enter your chargeable income (assessable income minus all applicable reliefs):

The above calculator is based on information from Inland Revenue Authority of Singapore (IRAS).

Even though the maximum individual tax rate is 20% (which will be raised to 22% in YA2017), most of us will be charged at a much lower rate due to the progressive tax structure. For example, if you are a resident and your chargeable income is $150k, your tax rate is only 7.63%.

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Graduate Employment Survey 2014 (Published 2015)

February 28th, 2015

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Law, Medicine, Business and IT are tops yet again in the latest Graduate Employment Survey Results. However, there are 3 newcomers among the top 10 degree programmes (ranked by average gross salary) – Architecture, Dental Surgery and Aerospace Engineering.

University Graduates

In the top 10, NUS took 5 places, while SMU got 4 and NTU just 1.

Coincidentally this year, all top 5 degree programmes are for protected professions – doctors, lawyers and architects. These professionals need licences to practise, and the licence numbers are controlled by the respective government bodies.

Fresh lawyers earn an average gross monthly salary of $5k+. Doctors came in just shy of $5k, while the rest in the top 10 make between $3.9k and $4.4k.

At the bottom of the table are: Industrial Design, Art Design & Media, Applied Sciences, Arts and Science.

If you compare employability, Psychology and Industrial Design have poor full-time permanent employment rates at below 60%.

Data used in this article are based on the 2014 Graduate Employment Survey Results consolidated and released by MOE today (27th Feb, 2015). See also our GES ranking for the previous year.

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The following are this year’s rankings. As usual, we rank first by Average Gross Monthly Salary, and then by Permanent Employment Rate.

By Average Gross Monthly Salary (in brackets are the 75th-percentile salaries)

  1. SMU Law (4-years programme) Cum Laude and above – $5,571 (6,000)
  2. SMU Law (4-years programme) – $5,332 (5,950)
  3. NUS Bachelor of Laws (L.L.B) (Hons) – $5,247 (5,800)
  4. NUS Bachelor of Medicine and Bachelor of Surgery – $4,886 (5,200)
  5. NUS Bachelor of Arts (Architecture) – $4,400 (4,750)
  6. SMU Information Systems Management (4-year programme) Cum Laude and above – $4,151 (4,540)
  7. SMU Business Management (4-year programme) Cum Laude and above – $4,116 (4,500)
  8. NUS Bachelor of Business Administration (Hons) – $4,090 (4,300)
  9. NUS Bachelor of Dental Surgery – $4,054 (4,020)
  10. NTU Aerospace Engineering – $3,911 (4,070)
  11. SMU Accountancy (4-year programme) Cum Laude and above – $3,903 (4,300)
  12. SMU Economics (4-year programme) Cum Laude and above – $3,824 (4,350)
  13. NUS Bachelor of Computing (Information Systems) – $3,789 (4,039)
  14. NUS Bachelor of Engineering (Computer Engineering) – $3,762 (4,080)
  15. SMU Business Management (4-year programme) – $3,752 (4,000)
  16. NUS Bachelor of Engineering (Industrial and Systems Engineering) – $3,719 (4,000)
  17. NUS Bachelor of Computing (Computer Science) – $3,712 (4,000)
  18. NUS Bachelor of Science (Pharmacy) (Hons) – $3,670 (4,000)
  19. SMU Economics (4-year programme) – $3,645 (4,000)
  20. NTU Accountancy and Business – $3,597 (4,000)
  21. NUS Bachelor of Engineering (Electrical Engineering) – $3,571 (3,800)
  22. SMU Social Sciences (4-year programme) Cum Laude and above – $3,545 (3,955)
  23. NTU Arts (with Education) – $3,536 (3,700)
  24. SMU Information Systems Management (4-year programme) – $3,530 (4,000)
  25. NTU Computer Engineering – $3,512 (3,800)
  26. NTU Science (with Education) – $3,475 (3,750)
  27. NUS Bachelor of Engineering (Engineering Science) – $3,465 (3,790)
  28. NUS Bachelor of Engineering (Chemical Engineering) – $3,434 (3,650)
  29. NTU English – $3,432 (3,990)
  30. NTU Business and Computing – $3,431 (4,000)
  31. SMU Accountancy (4-year programme) – $3,420 (3,614)
  32. NTU Chemical And Biomolecular Engineering – $3,415 (3,575)
  33. NUS Bachelor of Business Administration (Accountancy) (Hons) – $3,407 (3,614)
  34. NUS Bachelor of Computing (Electronic Commerce) – $3,386 (3,500)
  35. NUS Bachelor of Business Administration – $3,367 (3,300)
  36. NUS Bachelor of Science (Nursing) (Hons) – $3,353 (3,600)
  37. NUS Bachelor of Engineering (Materials Science and Engineering) – $3,350 (3,600)
  38. NTU Electrical And Electronic Engineering – $3,336 (3,500)
  39. NUS Bachelor of Science (Hons) – $3,328 (3,600)
  40. NUS Bachelor of Engineering (Mechanical Engineering) – $3,323 (3,500)
  41. NTU Chemistry & Biological Chemistry – $3,321 (3,400)
  42. NTU Business (3-yr direct Honours Programme) – $3,318 (3,600)
  43. NTU Information Engineering And Media – $3,318 (3,600)
  44. NTU Computer Science – $3,304 (3,700)
  45. NUS Bachelor of Social Sciences – $3,304 (3,600)
  46. NTU Mechanical Engineering – $3,289 (3,500)
  47. NUS Bachelor of Engineering (Civil Engineering) – $3,281 (3,500)
  48. NUS Bachelor of Arts (Hons) – $3,277 (3,600)
  49. NTU Materials Engineering – $3,261 (3,410)
  50. NTU Physics / Applied Physics – $3,241 (3,560)
  51. NTU Sports Science and Management – $3,229 (3,590)
  52. NTU Psychology – $3,228 (3,500)
  53. NTU Economics – $3,222 (3,500)
  54. NUS Bachelor of Engineering (Environmental Engineering) – $3,215 (3,422)
  55. NTU Maritime Studies – $3,206 (3,500)
  56. NTU Bioengineering – $3,188 (3,400)
  57. NUS Bachelor of Science (Nursing) – $3,188 (3,386)
  58. NUS Bachelor of Science (Project and Facilities Management) – $3,181 (3,360)
  59. NTU Biological Sciences – $3,174 (3,400)
  60. SMU Social Sciences (4-year programme) – $3,166 (3,580)
  61. NTU Civil Engineering – $3,152 (3,300)
  62. NTU Linguistics And Multilingual Studies – $3,148 (3,500)
  63. NTU Sociology – $3,143 (3,260)
  64. NTU Mathematics & Economics – $3,142 (3,500)
  65. NUS Bachelor of Computing (Communications and Media) – $3,129 (3,300)
  66. NTU Environmental Engineering – $3,111 (3,500)
  67. NUS Bachelor of Science (Real Estate) – $3,108 (3,300)
  68. NTU Mathematical Science – $3,078 (3,300)
  69. NUS Bachelor of Engineering (Biomedical Engineering) – $3,058 (3,300)
  70. NTU Biomedical Science (Traditional Chinese Medicine) – $3,018 (3,400)
  71. NTU Chinese – $3,006 (3,300)
  72. NTU Accountancy (3-yr direct Honours Programme) – $3,003 (3,000)
  73. NUS Bachelor of Business Administration (Accountancy) – $2,989 (3,000)
  74. NTU Communication Studies – $2,976 (3,294)
  75. NUS Bachelor of Science – $2,973 (3,200)
  76. NUS Bachelor of Arts – $2,883 (3,010)
  77. NUS Bachelor of Applied Science (Hons) – $2,831 (3,000)
  78. NTU Art, Design & Media – $2,791 (3,000)
  79. NUS Bachelor of Arts (Industrial Design) – $2,603 (3,000)

 

By Permanent Employment Rate (in brackets are the median salaries)

  1. NUS Bachelor of Medicine and Bachelor of Surgery – 100.0% ($5,000)
  2. NUS Bachelor of Dental Surgery – 100.0% ($4,000)
  3. NUS Bachelor of Science (Nursing) (Hons) – 100.0% ($3,500)
  4. NTU Arts (with Education) – 100.0% ($3,475)
  5. NTU Science (with Education) – 100.0% ($3,475)
  6. NTU Biomedical Science (Traditional Chinese Medicine) – 100.0% ($2,900)
  7. SMU Law (4-years programme) Cum Laude and above – 97.7% ($5,800)
  8. NUS Bachelor of Laws (L.L.B) (Hons) – 97.6% ($5,150)
  9. NUS Bachelor of Engineering (Civil Engineering) – 97.1% ($3,208)
  10. NUS Bachelor of Science (Pharmacy) (Hons) – 96.7% ($3,630)
  11. NUS Bachelor of Engineering (Industrial and Systems Engineering) – 96.5% ($3,600)
  12. NUS Bachelor of Business Administration (Accountancy) (Hons) – 96.3% ($2,912)
  13. SMU Accountancy (4-year programme) Cum Laude and above – 96.1% ($3,500)
  14. NTU Accountancy (3-yr direct Honours Programme) – 96.1% ($2,840)
  15. SMU Law (4-years programme) – 95.6% ($5,025)
  16. NTU Accountancy and Business – 95.6% ($3,300)
  17. NUS Bachelor of Science (Nursing) – 95.6% ($3,200)
  18. NUS Bachelor of Arts (Architecture) – 95.2% ($4,275)
  19. NUS Bachelor of Science (Project and Facilities Management) – 94.1% ($3,000)
  20. SMU Business Management (4-year programme) Cum Laude and above – 94.0% ($3,600)
  21. NTU Computer Science – 93.7% ($3,200)
  22. NUS Bachelor of Engineering (Environmental Engineering) – 92.9% ($3,230)
  23. NTU Civil Engineering – 92.9% ($3,100)
  24. NTU Maritime Studies – 92.5% ($3,050)
  25. NUS Bachelor of Engineering (Computer Engineering) – 92.4% ($3,500)
  26. NUS Bachelor of Computing (Information Systems) – 92.0% ($3,500)
  27. SMU Accountancy (4-year programme) – 91.4% ($2,875)
  28. NUS Bachelor of Business Administration (Hons) – 90.6% ($3,520)
  29. NUS Bachelor of Business Administration (Accountancy) – 89.8% ($2,838)
  30. NTU Business and Computing – 89.3% ($3,450)
  31. NUS Bachelor of Science (Real Estate) – 89.2% ($3,000)
  32. SMU Economics (4-year programme) Cum Laude and above – 89.1% ($3,800)
  33. NTU Computer Engineering – 88.8% ($3,400)
  34. NUS Bachelor of Engineering (Mechanical Engineering) – 88.5% ($3,200)
  35. NTU Electrical And Electronic Engineering – 88.4% ($3,200)
  36. NUS Bachelor of Engineering (Electrical Engineering) – 88.1% ($3,300)
  37. NTU Mechanical Engineering – 87.8% ($3,100)
  38. NTU Mathematics & Economics – 87.0% ($3,200)
  39. SMU Business Management (4-year programme) – 86.4% ($3,333)
  40. NUS Bachelor of Computing (Computer Science) – 85.9% ($3,500)
  41. NUS Bachelor of Computing (Electronic Commerce) – 85.7% ($3,200)
  42. SMU Information Systems Management (4-year programme) Cum Laude and above – 84.2% ($4,050)
  43. SMU Social Sciences (4-year programme) – 84.1% ($3,000)
  44. SMU Economics (4-year programme) – 83.9% ($3,500)
  45. NUS Bachelor of Business Administration – 83.6% ($3,000)
  46. NTU Aerospace Engineering – 82.7% ($3,770)
  47. NTU Environmental Engineering – 82.2% ($3,000)
  48. NUS Bachelor of Computing (Communications and Media) – 82.1% ($3,088)
  49. NUS Bachelor of Applied Science (Hons) – 81.8% ($2,800)
  50. SMU Social Sciences (4-year programme) Cum Laude and above – 81.3% ($3,590)
  51. SMU Information Systems Management (4-year programme) – 80.6% ($3,350)
  52. NTU Business (3-yr direct Honours Programme) – 80.2% ($3,100)
  53. NUS Bachelor of Social Sciences – 80.1% ($3,250)
  54. NTU Mathematical Science – 79.7% ($3,200)
  55. NTU Economics – 78.4% ($3,200)
  56. NTU Communication Studies – 77.9% ($3,000)
  57. NTU Materials Engineering – 77.7% ($3,150)
  58. NUS Bachelor of Engineering (Biomedical Engineering) – 77.1% ($3,000)
  59. NUS Bachelor of Arts (Hons) – 76.6% ($3,300)
  60. NUS Bachelor of Engineering (Chemical Engineering) – 76.4% ($3,300)
  61. NTU Chemical And Biomolecular Engineering – 76.1% ($3,400)
  62. NUS Bachelor of Science (Hons) – 75.8% ($3,210)
  63. NTU Chinese – 75.8% ($3,000)
  64. NUS Bachelor of Engineering (Materials Science and Engineering) – 73.8% ($3,300)
  65. NTU Information Engineering And Media – 73.2% ($3,200)
  66. NTU Sports Science and Management – 69.7% ($3,000)
  67. NTU Bioengineering – 69.7% ($3,000)
  68. NTU Chemistry & Biological Chemistry – 68.3% ($3,100)
  69. NTU Art, Design & Media – 68.0% ($2,700)
  70. NTU Sociology – 67.9% ($3,100)
  71. NTU Linguistics And Multilingual Studies – 66.7% ($3,230)
  72. NUS Bachelor of Arts – 65.3% ($2,800)
  73. NTU Physics / Applied Physics – 63.2% ($3,100)
  74. NTU English – 63.0% ($3,100)
  75. NUS Bachelor of Engineering (Engineering Science) – 62.5% ($3,400)
  76. NUS Bachelor of Science – 61.4% ($3,000)
  77. NTU Biological Sciences – 60.8% ($3,000)
  78. NUS Bachelor of Arts (Industrial Design) – 59.1% ($2,565)
  79. NTU Psychology – 54.9% ($3,100)

A $20,000 Part Time Job

February 24th, 2015

 
Some may choose to get a part-time job as a small supplement to their present income. Shaun and Jacob however, have found that their endeavours in tutoring has been earning them more than most people in their full-time jobs. The founders of GP Tutors Now and English Tutors Now, they are a part of a growing class of tutors in Singapore who are young, charismatic, and capable.

With law degrees from reputable schools in the United States, these ‘star tutors’ now teach English and the General Paper to students from the top schools such as Raffles Institution, Hwa Chong Institution, and National Junior College.

GP Tuition

Attaining the reputation as a top tutor has not been entirely smooth sailing for the duo. When they first started, they had only one student, and earned only $280 that month. “It was difficult, we had to decide if this was something worth pursuing.”

Determined to keep going, both drafted their own teaching plans, hired M.O.E. teachers to vet their syllabus, and practiced on examination papers themselves. To improve their students’ argumentative essays, they applied legal writing techniques they learnt in law school. As their students excelled, eventually parents began calling and more students started streaming in.

It was a winning formula. Within two years, they had almost 80 students and saw their income blossom to $20,000 a month. It was then that they decided to pursue teaching full-time and give up their legal careers.

Secret to their success?

It all boils down to hard work and knowing their students’ needs. Shaun and Jacob have been working 7 days a week for the past three years, sacrificing precious holidays and any leisure time. Shaun recounts how he even spent his entire birthday just teaching his students.

Preparation for each class may take up to four hours. “We prepare for every class on a separate and individual basis,” Shaun explains that each student learns differently, and lesson plans are adapted to suit each individual class.

Shaun and Jacob also took the time to get to know each student individually. “We wanted to know our students as individuals. Who they are? What they like? So we would call them, and ask them about school, their CCA etc. Knowing each student helps us create effective study plans for each student”.

With the expanding number of students, and a limited number of English Tuition classes, students sometimes had to be put on a waiting list. But for some, the wait is well worth it.

Samuel Tan, 19, is from Millennia Institute and took the ‘A’ levels in 2014. He started GP Tuition with Shaun when he was scorings Cs in school. With tuition, he rose to become the 2nd top student in the Millennia Institute cohort last year. Another student, Celeste Teh, from Jurong Junior College agreed. Her grade in the General Paper improved from an ‘S’ to a ‘B’. “I’m extremely happy”, she said, “I think they really do deserve their high remuneration.”

Top 5 Announcements of Singapore Budget 2015

February 23rd, 2015

~ DPM Tharman has just outlined the Singapore Budget 2015 in parliament today. The following are the 5 most significant announcements that we think our Salary.sg readers are most interested in: 50% tax rebate – For YA2015, all individual taxpayers will enjoy a one-off tax rebate of 50%, up to a maximum rebate of $1,000. [...]

Read the full article at Top 5 Announcements of Singapore Budget 2015

What Singapore Needs in Budget 2015

February 23rd, 2015

  It’s that time of year again – in just a short while, Parliament will be poring over a new budget plan. So far we’ve made a lot of headway for the Singaporean worker, but there’s plenty more our workforce needs. Here’s what we think the best outcome will be: What is Budget 2015? The [...]

Read the full article at What Singapore Needs in Budget 2015

How Big Is Your 2015 CNY Hong Bao?

February 19th, 2015

~ Here’s wishing a very Happy Chinese New Year to all our readers! For those who you who are receiving red packets, here’s a tool to compare how BIG your red packet is. Click the image below to start: If you are interested in the market rate of red packets, check out this Salary.sg post [...]

Read the full article at How Big Is Your 2015 CNY Hong Bao?

Compare Your Income To 10 Years Ago

February 2nd, 2015

~ Things are getting expensive, but is your income increasing at a rate that matches inflation? The following are the official annual CPI inflation rates for Singapore since 1980, published by The Department of Statistics (government agency). Inflation figures: 1980 to 1989: 8.5% 8.2% 3.9% 1.2% 2.6% 0.5% -1.4% 0.5% 1.5% 2.4% 1990 to 1999: [...]

Read the full article at Compare Your Income To 10 Years Ago

Android, iPhone and iPad Apps For Your Parents To Check Singapore Stock Prices

January 25th, 2015

~ If your parents had been using the now-defunct Teletext to monitor stock prices, the new SGX Stocks 股 App is the perfect app for them. Fast and easy to use, this app lets your folks easily track up-to-the-minute prices of their shares on their smart phones and even tablet devices (i.e. Android tablets and [...]

Read the full article at Android, iPhone and iPad Apps For Your Parents To Check Singapore Stock Prices

Five Retirement Myths that Singaporeans Should Stop Believing

January 16th, 2015

~ Retirement is an increasingly contentious issue in Singapore. The issues are varied, ranging from the adequacy of the Central Provident Fund (CPF) to the rising cost of living. Amid all the coffee shop talk and internet flame wars, some persistent myths have begun to emerge. You probably know more than one of these: Retirees [...]

Read the full article at Five Retirement Myths that Singaporeans Should Stop Believing

Compare Your Household Income 2014

December 23rd, 2014

~ For households living in HDB 5-room and executive flats, the average monthly household income is $11,199. For condo households, the figure is $19,340. For landed households, it is $23,994. This is according to the Key Household Income Trends 2013 report published by the Singapore Department of Statistics. To see more of such posts, please [...]

Read the full article at Compare Your Household Income 2014