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Civil Service Bonus Mid-2015 (Includes $500 SG50 Bonus)

June 17th, 2015

Good news to all public servants! The Public Service Division (PSD) has just announced that ALL civil servants will receive a special one-off SG50 payment of $500 as part of the mid-year bonus this year.

In addition, the usual AVC will be 0.5 month. AVC is the acronym for Annual Variable Component.

Civil service bonus mid-2015

Both AVC and the special SG50 payment of $500 cash will be paid out in July 2015.

Division IV officers will receive a wage increase of $30 in monthly salary. This pay raise will be over and above their annual increment for 2015.

Compare this year’s mid-year bonus with last year’s.

Reference: PSD press release






The Only Bus App That You Need – Saves You Time (=Money)

May 22nd, 2015

 
Every minute counts. Time is money. So if you can better plan your bus rides and save some time, you save money!

SG BusLeh is the only bus app that you need in your mobile phone. Available for both the Android and iOS platforms, this wonderful app helps you better plan your bus journey.

Download it today and start saving time (which equals money)!

Install SG BusLeh for iPhone

Install SG BusLeh for Android

SG BusLeh

Top Features:

1. Shows up to 3 bus timings instead of 2!
Now you can plan your journey in SG before even leaving your home!

2. Got seat? No seat? You will know at a glance!
Colour coded bars shows you how empty or full each SG bus is.

3. Loads the timing for a whole bus stop at once!
You no longer need to press one by one for the timing of each bus.

4. No need to search or navigate!
The app automatically shows you nearby bus-stops at launch!

5. Don’t waste time on a bus app!
This app is optimized for speed. We have crafted a mechanism to store the latest timing from LTA on our high-speed servers so there’s no lag, even if LTA is lagging.

Support Local Startup!

SG BusLeh is created by a young Singapore startup. They are all passionate app programmers who would like to make your life a little better. Support them!



How much does a Partner in Accounting Big 4 make?

May 21st, 2015

 
The top accounting and audit firms in Singapore are Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers (PwC). Collectively, they are known as the “Big 4″.

Accounting Big 4

Many fresh graduates in the NTU Accountancy and SMU Accountancy degree programmes aspire to work in the Big 4, never mind the relatively low starting pay.

So after an accountancy graduate gets in, how much money can she expect to make as she builds her career and move up the corporate ladder in a Big 4 firm? Thanks to our reader-contributors at Salary.sg Forums, we now know the following information:

How much does a partner in an accounting Big 4 firm make?

If you are at the entry level partner level 200-250k all-in is quite common. The very senior ones will of course hit above 1 mil, but those tend to be executive level, I don’t think there is any local executive in any of the big 4 based in SG now, a couple of caucasian expats at most.

Don’t be fooled by the “partner” tag… there are many more internal levels for them to climb. But once you make partner you’re 99% assured of a job all the way until retirement. It’s up to you whether you retire with a 20-30k salary or a 50-100k salary.

How long does it take to make partner?

Step 1. Keep grinding through the ranks. It will take you around 10 years to reach senior manager, by then you know whether you stand a chance at partner. Step 2. Now that you are SM, you need a partner slot to open up. One way is you create a new line of business that is so profitable that you are able to be promoted to partner and manage that line of business. Another easier way is when your partner’s time is up and he retires, creating a hole that you can potentially fill.

Unfortunately after SM you still need to climb 2 levels of AD and 2 more levels of Director. Generally even if you are a high flyer (being made partner is by definition high flyer), it will take at least 20 years to reach junior partner level.

There you go. To make about S$200k as an accountant in Big 4, it will take at least 20 years. Also, bear in mind that many don’t ever make it to partner level.

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Income Tax Calculator YA2015

March 5th, 2015

~ 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. Here’s our income tax calculator for [...]

Read the full article at Income Tax Calculator YA2015

Graduate Employment Survey 2014 (Published 2015)

February 28th, 2015

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

Read the full article at Graduate Employment Survey 2014 (Published 2015)

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 [...]

Read the full article at A $20,000 Part Time Job

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