Compare your annual salary (2008)
November 2nd, 2008
Based on figures in the latest Iras 2007/2008 annual report, I have updated the popular Salary.sg income comparison tool (see previous version).
Simply enter your annual salary for YA2008 and see how you rank against all resident taxpayers in Singapore:
The following is the graph for both YA2008 data (red) and YA2007 data (blue). It is evident that salaries have gone up. For example, the person at the 80th percentile earned a higher ~$96k for YA2008 compared with ~$92k for YA2007.
ek888 Says:
November 3rd, 2008 at 10:21 am
50% mark is at $50,750
about $3,904 monthly salary,
which means half of our working people make $3900 & above?
3900 median Says:
November 3rd, 2008 at 10:32 am
yes, I think the median is $3,900 for all tax-assessed residents. but I don’t think all working people are assessed. I know some low-earning ones and part-timers never even have to file anything.
Nick Says:
November 3rd, 2008 at 11:29 pm
Annual income, I suppose it includes the bonus and commission etc? Is this income before cpf deduction or after? By the way, $90,000/annum income is 80% higher than all resident taxpayers. Makes me wonder how some people can belittle jobs like engineering which can pay you this much in 4 to 5 years time?
assessable income Says:
November 4th, 2008 at 11:37 am
Nick, it includes all your income like pay, bonus, commission, rent, dividends. Add these all up, then minus expenses and donations to obtain your “assessable income”. Then, you deduct reliefs like NSman, working mother, earned income, etc, to get your “chargeable income”. Then, Iras will tax you based on your chargeable income.
Nick Says:
November 4th, 2008 at 9:46 pm
So assuming if my total salary plus bonus per year is $74K,I need to deduct cpf contribution etc from this figure before I can plug the number into the graph to get my percentile?
My Decade-Long Journey To Five Million » Running In Place Says:
November 4th, 2008 at 10:26 pm
[...] absolutely love salary.sg. They just launched their latest annual salary comparison tool here! Somehow, it’s like the whole Singapore is getting richer, compared to the year [...]
to nick Says:
November 4th, 2008 at 10:52 pm
no need. just use 74k.
Nisha naidoo Says:
November 6th, 2008 at 9:41 pm
Can you please tell me the salary for a Deputy Director in the Ministry of Information and Culture in Singapore.
Thank you.
Nisha naidoo Says:
November 7th, 2008 at 12:50 pm
Many, many thanks for the salary info
low morale Says:
November 12th, 2008 at 11:51 am
how does a 34yr old earning 6k/mth look? High, mid or low paid?
sugar Says:
November 12th, 2008 at 2:01 pm
if you compare using the calculator given, it would be high. but if you were to compare with the graduates now, it would in the middle leaning slightly to the low side. but average la
sugar Says:
November 12th, 2008 at 2:02 pm
i meant comparing 34 years old who have at least a bachelor degree…i don’t mean compare with fresh graduates.
low morale Says:
November 12th, 2008 at 3:06 pm
I kinda knew my pay was low.
Sigh.
not bad oledi Says:
November 12th, 2008 at 4:38 pm
not bad oledi lar..take it easy
axe Says:
November 12th, 2008 at 5:25 pm
annual income = 12mths pay + all ot pay + all bonous + all commision
if annual is 60000 = u earn 5k a month
annual income is all b4 tax and b4 cpf
Your annual income of $60,000
is higher than 60.4% of all resident taxpayers.
sugar Says:
November 12th, 2008 at 5:33 pm
But you cant compare with the general public. you should compare with your peers, like those who are holding executive positions (like engineers, auditors, lawyers…). $60000 per year is really very little.
sugar Says:
November 12th, 2008 at 5:36 pm
ok, sorry… i do not mean very little. its more than enough to support a family. but what i am trying to say is that many people who are graduates in the mid 30′s are earning at least 6k per month. so its not a lot.
sugar Says:
November 12th, 2008 at 5:40 pm
for example, a person who is lets say 35 who has a degree would be a assitant manager in an engineering company, a audit manager in the big 4, an accounts manager in a SME. I do not even have to mention the lawyers, doctors and investment bankers. All of the above have at least 6k a month.
low morale Says:
November 12th, 2008 at 5:48 pm
Sugar, u sound like a high flyer are u?
I guess I shld learn to be contented with my pathetic pay.
sugar Says:
November 12th, 2008 at 5:59 pm
i am not a high flyer….but i am just looking at my friends, my colleague’s friends, friend’s friends…you know…generally the market rate is like that. its not pathetic….like i said there are almost half of the grads out there who are 35 yr old whose pay is less than yours
not bad oledi Says:
November 12th, 2008 at 6:30 pm
once you start comparing, it’s always never quite enough…
Nick Says:
November 14th, 2008 at 9:41 am
low morale, how many months of bonus do you typically get? $6K/mth isn’t exactly low. I ll be quite happy if I m earning your pay at the age of 34. Of course there are other people out there earning more. But how long do they have to work? Is their job stable? Are their jobs stressful? I think you have to factor in all these considerations too. Take it easy.
sugar Says:
November 14th, 2008 at 10:19 am
my assumption is: 1 month AWS + 1.5 to 2months variable..i think thats the norm standard
low morale Says:
November 14th, 2008 at 10:23 am
I’m taking it easy already.
In this sort of financial climate, I’ll take it
sugar Says:
November 14th, 2008 at 10:46 am
my company is getting real quiet due to lack of projects coming in. everyone is getting worried. and i am not even in the banking industry
not bad oledi Says:
November 14th, 2008 at 11:55 am
Well…I am in the high tech industry doing pretty ok..but check out the numbers from this layoff tracker.
Total Layoffs Since August 27, 2008: 196
Total Employees: 53,669
It’s only getting worse buddy.
So..take it easy..
low morale Says:
November 14th, 2008 at 12:13 pm
In times like this, stay put in your job unless you can move to a more stable place.
XX Says:
November 15th, 2008 at 9:57 am
sugar
may i know what industry u are in ?
thanks.
sugar Says:
November 15th, 2008 at 12:39 pm
i am in the oil/gas industry.
Nick Says:
November 15th, 2008 at 5:37 pm
Sugar, I m in the oil and gas industry too.
sugar Says:
November 15th, 2008 at 9:33 pm
Nick, cool! how is your salary range like?
sugar Says:
November 15th, 2008 at 9:35 pm
i dont mean to be intrusive or arrogant. coz i have always been in the marine industry and i just entered the oil/gas industry at the begining of this year so therefore i do not really know what the market rate is for the oil/gas industry.
Nick Says:
November 16th, 2008 at 10:28 am
2.5 yrs in the company, getting about 4.9K/mth. But the first two years is on some special program that will accelerate pay increment. Subsequent years increments should be less aggressive. What about you sugar?
sugar Says:
November 16th, 2008 at 5:35 pm
i have a total of 5 years of working experience since grad, and i am getting 6.8k/month.
low morale Says:
November 17th, 2008 at 9:26 am
sugar, you are getting a very high pay for someone with just 5 years work experience.
Count your blessings.
sugar Says:
November 17th, 2008 at 11:19 am
To Nick,
is your company having any rumours about retrenchment/pay cuts and all that?
not bad oledi Says:
November 17th, 2008 at 12:40 pm
just curious, does the falling oil prices affect you guys?
sugar Says:
November 17th, 2008 at 2:16 pm
yes it does…cheaper oil means some oil exploration projects are put on hold.
not bad oledi Says:
November 17th, 2008 at 3:17 pm
there was an article that mentioned the reason oil prices were driven to crazy levels (before the economy tanked) was due to the unwillingness of major oil companies to drive exploration projects since people were willing to pay upwards slowly. like cooking a frog in slow boiling water. Just wonder if it’s true.
do you need to do offsites often?
Nisha naidoo Says:
November 17th, 2008 at 4:06 pm
I have been reading all the comments re salaries in Singapore and would like to confirm the info that I received – A deputy director in the the Ministry of Information, Communication and Arts earns 20 000 per month + GST.
Can I also ask, what is GST and what would be the taxes on that?
XX Says:
November 17th, 2008 at 5:28 pm
u mean oil companies are only willing to pay upwards slowly like cooking a frog in slow boiling water ??
hahaaaa
not bad oledi Says:
November 17th, 2008 at 6:11 pm
dude you make loads if you are in oil and gas..try reading the post again
Nick Says:
November 18th, 2008 at 1:39 am
Nope. Not at all. Our company is very strong financially and adopt a long term view towards business decisions. This kind of economic downturn is already within expectations. How about yours?
Nick Says:
November 18th, 2008 at 1:47 am
XX, you sounded like a high flier. Even then, don’t be too cocky. What comes around goes around. Oil companies may be less aggressive when it comes to salary increments and bonus compared to the banks. But at least they are sustainable. And I tend to agree with the oil companies approach. When you are paying a mediocre guy working in a banker a few hundred thousands dollars per year in salary, I wonder if they know what they are paying for. Are you as an individual really that superb? I doubt that there are too many lee kuan yews around, especially in the banks. Otherwise, tell me why we have citigroup, Merril lynch, Morgan Stanley, AIG etc all on the brink of bankruptcies? And FYI, major oil companies like exxonmobil, shell and chevron are still making record profits in times like this. And having such profits mean job security. So back off from your childish provocation.
Nick Says:
November 18th, 2008 at 1:56 am
not bad oledi, the high oil price that we saw early this year was purely due to the speculation in the paper market. All the talks about the high oil prices reflecting the high demand and tight supply is pure nonsense. Why do I say that? Very simple. Does demand change overnight? Answer is no. Crude oil prices came down drastically over the last few months. Yes. Global demand is weakening due to economic downturn. But the demand doesn’t change overnight. Generally, factories do not take spot contracts. So you do not expect your demand for crude oil to change drastically over a short period of time. The only reason that could explain the big change is due to speculators in the paper markets. Which primarily links back to the oil trading firms and banks eventually. You may say that I am biased towards the financial sector. But I seriously feel that there is a problem with the financial industry. Even before the credit bubble burst, I alwawys feel that all the banks and insurance companies are like a bunch of scams trying to lure law abidding citizens like you and myself to fall into their traps. Once enough people have fallen, the traps ll close to liquidate their profits.
sugar Says:
November 18th, 2008 at 9:43 am
To Nick…At the moment we are still quite safe as we have a large back log order that is able to tide us through. But projects are thinning out as a result of the global recession. Oil companies are suspending drilling programs, rigs are on standby…so hopefully things will turn around in Q12009
Justwanttostayinajob Says:
November 18th, 2008 at 9:43 am
Wow, you guys are sure earning loads .. I’m getting $65k a year, including 1 month AWS, excluding bonus. Felt squeezed in Singapore, hands tied when shopping. Now getting into Malaysia more often when I can see my purchasing power double
adiemuso Says:
November 18th, 2008 at 10:50 am
Nick,
the company decides your wage level accordingly to the revenue/profit/cost ratios. So generally financial sector pays better because of the simple revenue/cost ratio. of cos you cannot differentiate one with another just by mere pay figures alone. there are loads of other criteria to consider.
oil prices coming off is a cumulation of both speculative positions unwinding and a drop in real demand.
i do agree with you, the whole credit bubble could be felt in 2006/07. a exponential upmove is never sustainable in the long run. so what we are seeing now is a good unwinding of that impulsive surge.
the real question and concern now is if the real economy is that devasted and the fragmented credit market will function smoothly again. remember, capitalism requires credit creation as a lubricant to move forward.
not bad oledi Says:
November 18th, 2008 at 2:35 pm
hi nick, my company just acquired one more company and is still hiring aggressively in the APAC region. She sees this as an opportunity to expand and grab market share while most competitors are retrenching and/or merging. I am sure the slowdown in the economy will reduce the pipeline and deals that will go through the next couple of years ( I seriously don’t think the economy will recover that quickly) but we have a very high customer retention rate.
I think this recession will shake up many businesses and small players will fallout. More consolidations, and typically more regulation in certain sectors. I still see tremendous opportunity in APAC.
Pinabonds Says:
November 18th, 2008 at 4:22 pm
Just adding to the “datapoints” in the ongoing discussion here. I have 4 yrs working experience in a statutory board, joined right out of university. Currently earning about S$115k per annum total (iuclusive bonuses), give or take 10k depending on the bonus situation.
low morale Says:
November 18th, 2008 at 4:28 pm
pinabonds, either you are a scholar or you are a super high flier in your stat board.
I was from a stat board, also joined right after university but I don’t remember being paid that highly.
Pinabonds Says:
November 18th, 2008 at 4:46 pm
Hi low morale, I’m aware that my pay is ‘comfortable’ based on the IRAS rankings, though not as much as my peers in law and banking. It’s worth noting that salaries at different stat boards can vary widely. Anyway, as repeated several times by different pple on this blog, pay is just one yardstick for a job – quality of life is no less important.
ilovesggov Says:
November 18th, 2008 at 5:07 pm
singapore gov pays very well if you are clever or an elite, and I have nothing against that. Like what MM Lee says, if we do not pay well, these clever ppl will work for big banks like Lehmen Brothers and Merrill Lynch.
Lemabonds Says:
November 18th, 2008 at 5:48 pm
pinabonds, are you with the Administrative Service mentioned in the following article?
http://www.salary.sg/2007/high-earn...
Pinabonds Says:
November 18th, 2008 at 6:10 pm
hi lemabonds, no, im not with the AS. my salary is quite far below the payscale for AOs. My age-group would be around the time an AO first gets inducted into the service (after 3+ yrs as a management associate), and their pay would prob be much closer to S$200k per annum. Eventually, they’ll reach the now famous SR9 payscale of S$340k pa by age 33.
Lemabonds Says:
November 18th, 2008 at 6:17 pm
hi pinabonds, final question: are you with MAS?
Pinabonds Says:
November 18th, 2008 at 6:19 pm
Nope, but i wish i was. i hear they pay more!
Lemabonds Says:
November 18th, 2008 at 6:54 pm
well, count your blessings. at your age, you’re definitely making a lot more than all my stat board frens. i guess many grads will gravitate toward govt agencies after reading about your high pay!
ilovesggov Says:
November 18th, 2008 at 7:00 pm
Imagine no possessions
I wonder if you can
No need for greed or hunger
A brotherhood of man
Imagine all the people
Sharing all the world
You may say that I’m a dreamer
But I’m not the only one
I hope someday you’ll join us
And the world will live as one
low morale Says:
November 19th, 2008 at 9:29 am
MAS dun pay that high.
tongtongtong Says:
November 22nd, 2008 at 12:01 am
From a larger perspective, the more interesting observation is the curvature – The steeper the slope, the larger our income inequality.
Jia Lat Says:
December 2nd, 2008 at 9:50 am
Think I’m underpaid again.
I’m only making $59k/annum (incl. 13mth) and have almost 5 years working experience.
How to get out of this crappy situation? Join banks, oil companies? Too late to become AO in the civil service and surname not ‘Lee’.
ilovsggov Says:
December 2nd, 2008 at 5:01 pm
How much is enough?
try a stint abroad. I had a Korean friend who took up a 2 year contract job in Doha as a Web Lead for the Doha Asian Games. His pay jumped twofold, and was there eversince, even after he returned to Korea.
broadmind Says:
December 2nd, 2008 at 6:15 pm
to Jia Lat: Switching companies may also not always be a solution. I was not earning much more than you after working for 5 years, but I stayed on, worked hard, improved myself and got promoted. 4 years on, and my income is now $150K per year (fixed portion, excluding bonuses). Hope this will be an encouragement to you.
jia lat 2 Says:
December 2nd, 2008 at 6:20 pm
Hi broadmind, I’m in the same situation as jia lat. Thanks for your advice, but I don’t see staying and persevering as a solution because even the division managers here, who are 3 levels above me, do not make as much as you!
adiemuso Says:
December 2nd, 2008 at 11:01 pm
important to realise your self worth.
persevere and you shall be rewarded.
Jumper Says:
December 3rd, 2008 at 1:12 pm
For me switching companies was the key – recommended time to jump is around 2 years, and some of the increments are rather substantial. Been in my industry for less than 4 years but my base is 200K – i think you need to widen your scope and leverage on your network rather than stay put (unless it’s a really good company that fulfils plenty of your needs and leaving just for financial gains does not complete the equation)
good luck
janbronx Says:
December 12th, 2008 at 4:11 am
what is the minimum wage for an employee (electrical and instrumentation technician) working in an oil and gas industry?
janbronx Says:
December 12th, 2008 at 4:14 am
i’m a filipino and i’ll be working there as a E&I Technician early 2009 (i’m just waiting for my e-pass approval) just curios if how much is the salary their..
b-a-j Says:
December 12th, 2008 at 11:57 am
start businesses…I have 3 and make shitloads of $$ now.
qaz Says:
December 16th, 2008 at 3:39 pm
Oh, my god. You guys really earned a lot.
My 2008 income is 59K. 32 yrs old. Female.
Not sure about 2009…
feel blue….
yann Says:
December 16th, 2008 at 6:46 pm
well, i’m a fresh grad from a local uni and i’m getting 2.5k/mth. and contrary to popular belief, not everyone is earning scads of moolah.
feeling incredibly bleak… haha, not sure my industry will ever see me making some of the money you guys are getting….
low morale Says:
December 17th, 2008 at 1:06 am
yann : take heart, I started at 2.3k ++ almost 9 years ago. Also from a local Uni.
5m10y Says:
December 17th, 2008 at 8:04 am
yann, you’re just starting, you still have many years to increase your salary tremendously, don’t feel so bleak… and perhaps take a look at other industries as well if you’re sure that your industry is not paying well.
29yrold Says:
December 17th, 2008 at 11:48 am
Yann,
Money is not everything. I believe your scope of work is more important. Does it allow you to learn and develop useful skills?
I started on $2K a month, fresh from uni 7 yrs ago. No bonus. I’m now 29 and am getting $10K excluding bonus. In between my 7 years, I took a sabbatical and travelled for a year.
But honestly, I do not understand the Singaporean pre-occupation with money and salaries. I think it’s ok for the short term if one has certain financial goals to achieve but in the long term I would rather do what I like rather than just stick it out for the money.
Goodie Says:
December 17th, 2008 at 1:34 pm
To people who don’t think money is everything, money won’t be everything. To people who think money is everything, money will be everything.
I say just do whatever makes you happy.
29yrold Says:
December 17th, 2008 at 3:04 pm
Goodie,
Agreed. Everybody is different. To each his / her own. It’s important to do whatever makes you happy. In my case, I will be leaving Singapore to live elsewhere.
Dolly Says:
December 19th, 2008 at 1:06 pm
Somehow i found Singaporean really have good salary. Only a small portion will have less than 3k i guess.
IT undergra Says:
December 29th, 2008 at 5:11 am
guys i seriously need help, i’m currently in computer sci,the prospect of IT is it really that bad? i’m not greedy, can earn 5k around 32 i ok with it liao.
comp Says:
December 29th, 2008 at 11:28 am
Computer science is not that bad. Your target of 5k should be attainable, but just be aware of the keen competition from India, China and even the Philippines. These foreign talent ask for peanuts (comparatively) when looking to work and live in Singapore.
I suggest you quickly move up the value chain and work in areas which are harder for FT to infiltrate, such as in sales (targeting local companies and SMEs) where local knowledge and local accent puts you at an advantage, or in project management leading a team of FT.
That said, I have the view that most bosses think that IT can be easily outsourced – “programmers and IT support staff are a dime a dozen elsewhere”.
IT undergra Says:
December 29th, 2008 at 11:53 am
i feel like i’m wasting my young and money to pursuit a IT degree… i’m a poly grad, actually can go out and work now… need some advise from working adults,as i just finish my first sem in ntu….. feel like going out to work now.
comp Says:
December 29th, 2008 at 12:12 pm
It’s quite hard to find a job these days. You can certainly try, but I would advise you to complete your studies first. By the time you graduate, the economy should be recovering.
Btw, since you are in IT, why not try freelancing on a part time basis?
IT undergra Says:
December 29th, 2008 at 12:53 pm
thks for the replies, actually i’m trying to get out of IT field…. i’m not very sure about the sector, but alot of ppl were saying IT is low pay and long working hours……
comp Says:
December 29th, 2008 at 4:20 pm
Yes, what you heard is true. That’s why you need to move up the value chain in your IT career quickly. Life nearer the top is definitely more comfortable, though people at the top wouldn’t readily admit so.
low cost-low tech Says:
December 30th, 2008 at 9:03 am
wait till u go engineering… u see even lower pay
IT undergra Says:
December 30th, 2008 at 11:03 am
wa, really anot… engineer like earn alot leh
stuckinthemiddle Says:
December 30th, 2008 at 2:47 pm
Hi guys, can I know what is the starting salary for a fresh grad in stat board? I just grad from this tourism and marketing degree course, currently working in stat board thinking of internal conversion of scheme but I heard the pay may not increase and have to wait for half yr at least. means i will still be drawing a dip salary after that? is that true?
IT Professional Says:
December 30th, 2008 at 2:50 pm
IT Undergra, it really depends on what aspects of IT you are working in. Some IT jobs can be very well paid while some are really lowly paid.
IT Engineer Says:
December 30th, 2008 at 8:32 pm
IT Professional,
Can give some advise on how to advance in the IT career?
I am doing programming.
IT undergra Says:
December 31st, 2008 at 12:15 am
i’m quit worried about getting pay like 3 k plus for the rest of my life after i graduate…. cos after paying 20k plus four year cannot work, to get a degree that only can earn me 3 k plus a month is not very worth it…. can any working adult advise on this?
IT undergra Says:
December 31st, 2008 at 12:17 am
ya and one more thing, is there a big different if i graduate with a Honours degree or a pass? will it affect alot if i’m working in the private sector?
IT Professional Says:
December 31st, 2008 at 9:33 am
IT undergra, you mean programming in school? What you do in school will not necessarily define what you do in the future. Infact, alot of people work in areas that are totally not related to their course of studies. Its your own choice, you can always choose to look for other kind of IT jobs or even out of IT. Anyway, it really depends on your own expectations. If you are only aiming for 5k in 5-10 yrs time, doing programming is definitely possible. But if you are aiming for 10-15k in 5-10 yrs time, you will have to work towards some other areas like IT project management, IT consulting etc. I am not saying that programming will never get you 10k/mth but it is definitely alot harder to achieve if compared to some other areas in IT. Alot depends on the company as well. For eg. with the same no. of yrs of exp, a programmer in an investment bank should get 4-6k easily but a programmer in a manufacturing MNC may only get 2-4k.
IT Professional Says:
December 31st, 2008 at 10:08 am
IT undergra, getting a honours degree or with merit will definitely give you an advantage over others when applying for your first job. However, that is not the only consideration. After your first job, other factors like your experience, luck, opportunitiy, network, people-skill etc play a much more important role in securing a good job.
IT undergra Says:
December 31st, 2008 at 10:34 am
thks for your advise IT Professional, i got one more question, what is the working hour like? is it alot of over time, and staying b after office hour to finish the job?
no choosy Says:
December 31st, 2008 at 11:17 am
Sounds like you’re a choosy fellow. This attitude won’t get u far in any career. Haven’t u had your internships yet?
IT undergra Says:
December 31st, 2008 at 1:58 pm
no that i’m choosy, the problem is wat i want in my life… i like to spend time with my family and be able to provide them with certain level of comfort…… so if this career does not suit my life goal, why need to force myself to work in that career…. and i’m taking loan for myself, hence, i’m asking so many question. i just completed my first sem.
IT Professional Says:
December 31st, 2008 at 2:53 pm
IT undergra, the working hours really depend on different factors like the company culture, your workload and even your own work efficiency etc. So far i am lucky that i do not have to work beyond my normal working hours most of the time.
no choosy Says:
December 31st, 2008 at 4:28 pm
In any profession, there’re people who work long hours, unless u’re those hourly rated types like factory operator and McDonald’s cook. Study hard and don’t think much now. But it sure sounds like a civil service career may suit u well.
IT undergra Says:
January 1st, 2009 at 10:58 am
ya, planning to go into civil side most probably……. i’m not those ppl who can work day and night… life is so short, i rather spend it with my love ones,so i dun need to get those sky high pay….. IT professional, may i ask wat job are you doing now? software eng, database or network?
of course Says:
January 2nd, 2009 at 10:01 am
Dear IT undergra, you are the first undergrad I see who opt of easy life, thinking more about lives than toiling for work even before it starts! Kudos. Society needs more people like to you to do good to the socio-economic balancing.
IT Professional Says:
January 2nd, 2009 at 10:24 am
IT undergra, i am doing project management in IT consulting.
low morale Says:
January 2nd, 2009 at 3:28 pm
IT Pro, may I ask how much u make now?
IT undergra Says:
January 2nd, 2009 at 10:18 pm
IT Professional is it true that programmers salary are very low, becos of the FT? so i dun go into programmer?
kevin Says:
January 3rd, 2009 at 12:59 am
If you are a real IT professional, you should be quite well paid (of course nowhere near an investment banker for comparison sake, but say >100K after 8-10 years, conservatively speaking). The problem with IT industry is that there are a lot of people (and nearly anyone) who are called PMs, programmers and consultants, but do not nearly have the right skills, even after an IT degree. And unlike other lines, there are significantly more non-IT grads who ended up as real IT professionals. So it’s a little hard to have a more precise sense of the pay range.
There is not a lot of real programming jobs (supply-side) out here in Singapore, but there are a lot of “talking” jobs here, e.g., PM, consultant, business analyst, etc, and the “talking” nature of these jobs meant that non-IT grads with the right logic and mindset can become an IT professional.
As the title suggests, “talking” jobs require strong communications. Who you are able to talk to decide how much you can get paid and you will soon realize it’s not so easy to talk, even if you think you are good at talking.
The greatest “perk” of IT, at least for me, is that you can expose yourself to intimate details of very different businesses in your career. Like an actor/actress who needs to understand the details to act, a IT professional needs to understand the business problem to formulate a solution. In my 8 years experience, I have certain in-depth knowledge of finance, supply-chain, oil/gas refining, pharmaceutical drugs, aviation.
sotong Says:
January 3rd, 2009 at 10:38 am
hello guys, i have a couple of questions:
1. what is the market rate for fresh grads from local uni (business/communications)?
2. what is the ave salary for a sales manager, no degree, 5-10 years working experience?
Doubtful Says:
January 5th, 2009 at 6:23 pm
Hi IT undergra, you hope to earn 5k at age 32 with relax life and is consider as not greedy? Do you know typically, many graduate at age 32 still barely manage to reach 4k? Take the example of the link below:
http://www.salary.sg/2007/jobs-with...
you should roughly be able to gauge how much you can earn (if there is not pay cut or increment freeze due to crisis) till you reach the age of 32 yrs old.
It is diffcuilt to tell how much you can earn (worth) as it also depend on your luck and capability. My friend from IT graduate can earn more than 7k of salary within 2 years after graduation. That is because he has been promoted to manager as he is very harding working and capable. A 32 yr old executive will draw a different salary scale from another 32 yr old senior management. That means u can hit more than 10k if you are good and lucky enough.
But, if you have the mentally like my subodinate (whom want go back on the dot and family life as the lst priority), you rest assure that your increment and promotion will be the least.
Hope you understand where I am coming from.
supahfly Says:
January 7th, 2009 at 4:00 pm
hi all. just wanted to ask what the average salary is for an employee with 3 years full time experience in the media industry. work is editor/writer. thank you
supahfly Says:
January 7th, 2009 at 4:00 pm
oh yes, and im not singaporean but im applying to companies in sing and hoping to move there
not-a-science-geek Says:
January 9th, 2009 at 4:06 am
hi there!i have a science& business degree from NUS,and i have no idea which industry to join,especially with the recession.any advice?
most of my peers are joining MOE. are uni grads paid well as teachers?
no choice Says:
January 9th, 2009 at 9:44 am
dear not-geek, given the current economic conditions, I don’t think you have much choice. MOE is definitely one very viable option. I’m sure they pay “market” value. moreover, when there’s no fish, you have no choice but to eat shrimps.
In2minds Says:
January 12th, 2009 at 4:55 pm
5.5 yrs working in the my first job as engineer and barely abt 60k per annum…shd i really have moved about more ??
superman Says:
January 19th, 2009 at 4:45 pm
I am just reading through the comments. the only observation that I made is that it will take forever for anyone to reach the likes of an admin officer (340kS$ at the age of 34) or the deputy director (at 20kS$ per month). I like push the thinking further to go for non-mainstream jobs outside singapore if anyone wants to jump out of the vicious cycle or middle income trap. Stop thinking IT Professional, business development, investment bankers etc. Try thinking venture capitalist, specialist lawyers, fashion designer, water treatment specialist, fuel cell experts, radiologist etc. There are many opportunities out there don’t limit your thinking to jobs that are defined for you by the environment (especially in singapore restrictive environment) but push yourself further especially for those who are young enough to change industry or go for specialization. my 2 cents worth.
engineer Says:
January 20th, 2009 at 9:16 pm
What is the pay of a building architect with 10 years experience?
Compare Your Household Income 2009 | Salary.sg - Your Salary in Singapore Says:
January 21st, 2009 at 11:17 pm
[...] Benchmark your annual pay [...]
RfPf Says:
January 24th, 2009 at 3:11 am
Hi, do i need to include the employer CPF contribution in the salary before i key in the numbers?
Query Says:
January 30th, 2009 at 2:52 am
Hi,
Can I ask if you have 3 and 1/2 Years Exp in IT (Application/Consulting), what annual salary should you be looking at?
is 56K a good sum?
Answer Says:
January 30th, 2009 at 10:41 am
depends on where you are working at..56K sounds like a govt sweatshop.. Banks or MNCs pay better..
Query Says:
February 4th, 2009 at 11:07 pm
Hi,
Can I ask if you have 3 and 1/2 Years Exp in IT (Application/Consulting), what annual salary should you be looking at?
is 56K a good sum?
[Hmm, ok lets say I am working in a MNC, what should I be expecting?
Thx.]
Answer Says:
February 5th, 2009 at 8:26 am
Well the MNC I am working in pays around 100k,excluding bonuses, incentives and RSU. I have around 2 years of experience. Hope this helps. =)
Query Says:
February 5th, 2009 at 10:14 am
Hi Answer, mind if i ask what is your role in your company? 100k with just 2 years of experience? Only possible if you are doing sales or banking kinda job or you are a scholar. For a high flyer (non-scholar) to get 100k, i think its possible in 3-4 yrs but 2 yrs? Hmmm..unless your variable bonus is like 6-8 months every year~
Answer Says:
February 6th, 2009 at 1:35 am
Hi Query, I am an applications consultant in my company. And I am not a scholar, neither am I working in sales or banking. As mentioned, my base is 100k, not tied to company’s nor personal performance, excluding bonuses etc. My advice: Find a niche and work on it. =)
Query Says:
February 6th, 2009 at 9:07 am
Hi Answer, thx for your reply. Cool, mind if i ask again if you are a SAP consultant?
From what i understand, you can only get such good money in SAP. But even for SAP, 100k in 2 years is alittle far fetched…
Answer Says:
February 6th, 2009 at 8:28 pm
Hi Query,
No worries. I am not in SAP nor Oracle. Find a niche and excel, IT industry is extremely robust now and pay a lot of money for the right talent. Hope you will do well. Cheers!
Well Done Says:
February 7th, 2009 at 11:27 am
Hi Answer, I have to agree with you that if you find a niche in demand and the market will pay you for it. Generally people have the perception that a certain industry does not pay well but it is a fact that every industry (or at least skilled based or knowledge based industry) have a pay gradient that reward people with special or exceptional experience/skill.
Case in point, I am in the IT industry also and in my early thirties. I can say with confidence to across my peers the income per annum range can be as wide as 65K – 120++K.
Answer Says:
February 7th, 2009 at 6:45 pm
Well done well done =) I would say from my observation that we should make ourselves more marketable by picking up additional skills, capabilities and experience, and not to limit ourselves to just what is required of us. Observe and project the trajectory towards where you want to be and work hard to achieve it. Last but not least give thanks for all the opportunities that come along your way. Cheers!
moe teacher Says:
February 8th, 2009 at 9:30 pm
my wife’s a teacher with moe, 30yrs old, worked with em for 4 yrs, now only 4k/mth, incredible
Anon Says:
February 12th, 2009 at 10:09 pm
my husband is meo teacher, ivy league, 4 yrs, non-Singaporean, early 30′s 5.5K/mth…
average joe Says:
February 20th, 2009 at 12:26 am
alamak. i should bang my head against the wall . only about $4.5k per month. already 33yo. graduated from local u 7 years ago. but some of my friends say not bad already as they earning about $4k or slightly less. but of course some double or more. guess the industry really matters!
Real Average Joe Says:
February 22nd, 2009 at 12:40 pm
Sama sama kawan, alot of over overpaid blokes around lah (of course most deserve their remuneration I’m sure)
Goodie Says:
February 22nd, 2009 at 1:09 pm
If they deserve their remuneration by definition that means they’re not overpaid, no?
BTW… what average joe says there is really true–people tend to socialize with those who earn similar amount of money as themselves. I read somewhere that your friends usually earn within 20% of what you earn.
That’s why I love salary.sg. We need this kind of website so we can compare and see what’s out there!
army_regular Says:
February 22nd, 2009 at 11:06 pm
Now i think I’m overly underpaid, and seriously overworked.
Husky Says:
February 24th, 2009 at 4:34 pm
Darn… I am feeling severely underpaid… I am in pharmaceutical industry working in an SME. For some reason my boss freezed our pay this year even though we were not really affected by the sub prime crisis. Damn low morale. Don’t feel like working. With the pay freeze, my brains are frozen…
5m10y Says:
February 24th, 2009 at 4:38 pm
This is a vicious cycle leh. The more you don’t feel like working… the more your boss has reason not to increase your salary, right?
Musky Says:
February 24th, 2009 at 4:39 pm
Honestly speaking, nobody will think that they are over paid or even reasonably paid. Everyone is underpaid
Husky Says:
February 24th, 2009 at 4:57 pm
Yeah… it is… a viscious cycle.
It’s just that I think performed well last year. But my miserly boss is using the recession as an execuse to freeze our pay. Which is the part I am DL about.
On the other hand, he just told me to look for a new staff. I find it hard to reconcile this two events.
5m10y Says:
February 24th, 2009 at 6:22 pm
Yeah Husky, I understand. If it’s any consolation… you’re not alone, in other companies also like that. Got increment freeze etc., but also start hiring already…
Super Sad Says:
February 25th, 2009 at 2:16 am
Nvr nvr stop ur qualification at diploma. You will regret. At least strike for a degree. That’s wat i can advise, if u want a decent pay in singapore.
don't be sad Says:
February 25th, 2009 at 7:49 am
super sad..it’s never too late, just don’t give up hope. =)
Husky Says:
February 25th, 2009 at 9:29 am
Dear 5m10y,
thanks for the consolation
Yeah, I do know of some other companies that are doing the same thing.
Can’t help but feel a bit disillusioned. I worked very hard for the last two years in this company. Doing a lot of things that are clearly not within my job scope. Thinking of ways to help the company save money etc.
Nowadays, I just do the bare minimum… While looking out for better opportunities. I recall a quote I read somewhere which makes a lot of sense.
“Love your job, but never fall in love with your company. For you never know when your company will stop loving you.”
don't be sad Says:
February 25th, 2009 at 10:40 am
hi husky, i am glad you looked for ways to add value to your company; that’s the right attitude, and if your company doesn’t value you, someone else will. i have friends who founded their own consultancy firms and did really well by targeting niche unreached customers. i hope you can look out for opportunities and excel too with this mindset of yours. cheers!
Husky Says:
February 25th, 2009 at 11:13 am
Yeah. Maybe it’s time to move on. Thanks! All the best to you too!
Labrador Says:
February 25th, 2009 at 11:58 pm
In public sector, $6.5K, MIT grad, 26 years old.
Wife in GLC, $4K, 28 years old.
Labrador Says:
February 26th, 2009 at 12:00 am
salaries don’t include bonuses, after bonuses PA is about $110K. $60K for wife.
Goodie Says:
February 26th, 2009 at 10:29 am
Wah, MIT grad? As in _that_ MIT? Wow. I always wanted to go there but no money ah. Now old already.
Shanghai Says:
February 26th, 2009 at 11:47 am
Its seems like everyone out here are on the positive pay scale in the industry.
There are lots of people trying to make meets end out there.
Just be Happy Says:
February 26th, 2009 at 3:42 pm
Haiz… i am one of them…. v. envy ppl tat got a good job and salary… mine already not bad .. high side of 2k …. but at 80% of ppl are much better than me
iwannasucceed Says:
February 26th, 2009 at 5:19 pm
hi, (sorry to repeat this post as i realised i have posted at the wrong section and do not know how to delete)
i’m 30yrs old this year. Australian Uni grad 6 years ago. Have been in the financial services/ planning since graduation.
If i successfully can make a switch to a Stat Board, how much would be the expected salary?
Pls advise.
Thanks very much
Goodie Says:
February 26th, 2009 at 7:06 pm
Just be Happy, I agree. I think it’s OK to use info in salary.sg for motivation and knowing more about the true level of salary.
But thinking that somebody is “better” because he’s got a higher salary is a losing proposition. Somebody will always be paid more than us, regardless of how much you are paid!
Shanghai Says:
February 27th, 2009 at 12:29 pm
What kind of appointment will u be holding in the stats board?
iwannasucceed Says:
February 27th, 2009 at 12:51 pm
hi Shanghai,
senior executive – junior to mid-level position.
Shanghai Says:
March 1st, 2009 at 2:10 pm
Do u have the name or type (RIs, or Domestic types) of the stats board. Different stats board pays differently.
If you are talking about a RIs probably around 3000 – 6000. For senior executive positions.
If you are talking about Domestic ones, it will be much lower.
Then again, you really have to be precise about your role and past experience.
iwannasucceed Says:
March 1st, 2009 at 11:28 pm
hi Shanghai,
it will be with MAS, associate role with 3 yrs relevant experience
Shanghai Says:
March 2nd, 2009 at 2:31 am
Great, your range should fall around 4-5k for an associate.
I work in RIs under A*star for many years and has been headhunted to Shanghai at the moment.
iwannasucceed Says:
March 2nd, 2009 at 10:27 am
Thanks for the info
headhunted? well done, Shanghai!
insider Says:
March 2nd, 2009 at 4:18 pm
stat boards are for farmer graduates. The elite in civil service are working in the ministries.
iwannasucceed Says:
March 2nd, 2009 at 7:34 pm
insider,
every job has is value in society. without “farmers”, there won’t be anyone reaping the “harvest”. i thot your remark – be it the truth or not, sounded a tad condescending.
iwannasucceed Says:
March 2nd, 2009 at 7:36 pm
nevertheless, it has been really informative here.
thanks everyone, esp. Shanghai
mama_mia28 Says:
March 10th, 2009 at 5:49 pm
32yo female w 10yrs exp recently join ministry @ 5.2k snr exec position. PA88.5k Does this remuneration seems reasonable?
lazy_bones_38 Says:
March 16th, 2009 at 12:20 am
38 yo male w 11 years exp. for the last 7 years, income range from 30K PA to 150K PA. its my own biz lah. downside, income is variable, have to adapt frequently. upside, works around 2-3 hrs a day most of the time, loads of free time, don’t report to anyone but the clients. is it worth it?
cool Says:
March 16th, 2009 at 9:57 am
Dear lazy_bones_38, could you kindly share what kind of biz you’re doing (enough for us to have an idea, but no need to reveal too much if you’re not comfortable).
What were your considerations before embarking on your entrepreneurship journey?
lazy_bones_38 Says:
March 16th, 2009 at 10:12 am
Dear cool, I advise foreign companies on business development matters. Key considerations — sufficient savings, supportive family and wife who earns enough to cover basic family expenditures.
iwannasucceed Says:
March 16th, 2009 at 11:59 am
mama_mia28,
$88.5k p.a. package seems pretty reasonable
cool Says:
March 16th, 2009 at 4:15 pm
Dear lazy_bones_38, I assume you were gainfully employed before you started out. What were your main motivations to become self-employed? Is it some push factor, freedom, money, aspiration, or all of them?
Thanks.
lazy_bones_38 Says:
March 16th, 2009 at 8:18 pm
Dear cool. I just thought that there were more meaningful things in life than spending 8 or more hours at work everyday from Mon to Fri. By the time most of us ‘retire’, there are probably things that we enjoy doing that we can’t do anymore. I am not saying that money is not important. Just remember, you can’t take it with you.
bubbleburst Says:
March 20th, 2009 at 3:22 pm
Hi. May I know how much does a radiographer and radiation therapist earn in a month? thx.
jason raj Says:
March 22nd, 2009 at 2:09 am
just for info sake, most Inv. Bank pay their IT grads starting from 4K upwards, so getting up to 6-7K by 30 expected..
another lazy bones Says:
March 23rd, 2009 at 8:30 am
Hi Lazy Bones,
I guess you are really fortunate to have a supportive family, having your wife drawing a steady paycheck while you develop your business. In order to develop your business, you have to develop relationships, skillsets and knowledge of the industry. Kudos to the lucky both of us! =)
31 Says:
April 12th, 2009 at 10:29 am
teaching in one university, 110k pa
34 in a bank Says:
April 12th, 2009 at 11:05 am
140k pa including bonus, “manager” in a bank, but just doing basic coordination work, considered junior staff.
Realistic Says:
April 13th, 2009 at 12:44 pm
I guess we just have to be wary of the reported salaries…
Some do not make sense.
jimmy Says:
April 14th, 2009 at 3:21 pm
Which ones do not make sense to you?
In my opinion, the ones from the 31yo and 34yo are quite believable.
lowly paid Says:
April 14th, 2009 at 3:24 pm
i feel so lowly paid.
35 this yr. 6k/mth only.
Realistic Says:
April 14th, 2009 at 4:58 pm
Well, salaries are justified by the contributions (e.g. sales generated, or worth of portfolios managed) by the individual to the company/university.
For the teacher to be paid 100K, its believable if there is significant contribution to the scientific committee as this will in turn raise the school ranking (e.g. papers published).
For junior staffs earning 100K plus doing normal work, you have to ask urself if this person is worth paying that much? Can you hire 2 more person doing the same job? Well unless he is managing a significant portfolio of clients or doing serious work, which is not basic btw.
Thus rule of thumb is if your work does not justify the contribution you give to the company why will the company pay you so much? The org structure of companies these days (MNCs) are structured in a way that nobody is indispensable. Even the president can be replaced by a vice president.
If i am a sales person bring 200K sales per quarter, I can ask for 100K – 200K gross per year as hiring me based on my track record will ensure 800K plus minus 300K of profits to the company.
If i am doing basic stuffs, do you think I will be paid that much? Most prob I will be on the list of staff to be retrenched for getting such obscene pay.
bottom line is to put urself in the bosses shoe. But thats what I think imho.
not realistic Says:
April 14th, 2009 at 7:11 pm
Trust me, there are MANY people who are VERY overpaid by your rule of thumb.
Realistic Says:
April 15th, 2009 at 12:45 am
Yes. Indeed.
Thats why the retrenchment. No more economy to justify such “Costs” anymore.
When times are bad. Companies have to stay LEAN. Just watch how long these MANY people lasts.
sour grapes Says:
April 15th, 2009 at 7:44 am
well obviously you belong to the lower echelon.. such pay is considered meagre and peanuts, and you still state that they are overpaid? come on, give yourself a break.
Realistic Says:
April 15th, 2009 at 11:28 am
Hi,
I was only stating my opinion. The evidence are out there. Look at the number of retrenchments. I am not here to flame anyone. Please cool it.
If you have worked long enough, you will be able to differentiate salaries and the role the person plays to get it.
“such pay is considered meagre and peanuts” if you are able to justify it is all I am saying.
Cheers.
sour grapes Says:
April 15th, 2009 at 12:28 pm
evidence points to the fact that companies are retrenching to improve their bottom line so that they can answer to their shareholders. but is there anything wrong with one teaching in the uni getting 6 figures? or a manager in a bank getting 6 figures? is 6 figures is not a lot for goodness sake. that’s my point. thanks.
Puzzled Says:
April 23rd, 2009 at 1:32 pm
Realistic- what sort of things are been sold in your analogy? Usually the pay of sales force range from 0.5% to 4% of the revenue depending on industry (excluding pure service ones like pimps etc). If you are getting 200K per annum package based on 800K revenue, your customer is giving you the sales person 25% of what they pay. IMO, these customers are pretty much robert heads.
Realistic Says:
April 23rd, 2009 at 2:43 pm
Hi,
The 800K is just an example.
Anyway such products exists. For example my previous project total revenue was 1 million.
The sales person got a 20% cut as it is a tough product to sell.
Its an IT product btw which includes licenses and services.
Cheers,
Shaun
Just Curious Says:
May 4th, 2009 at 4:00 am
“I started on $2K a month, fresh from uni 7 yrs ago. No bonus. I’m now 29 and am getting $10K excluding bonus.”
Hi 29yrold, just curious, which job are you in now that made the huge jump in salary over the last 7 years?
Just curious 2 Says:
May 6th, 2009 at 8:26 am
If every year increament 3 to 5% (disregards of paid freeze during crisis) and promotion 2 to 3 times (each promotion with 1k increment). How to reach from 2k to 10k in 7yrs? Unless we Job Hop………..
IT consultant Says:
May 19th, 2009 at 12:14 am
hi …
36 years old, in IT line, local grad … earning 160k per annum …
IT undergrad Says:
May 19th, 2009 at 8:24 am
Hi IT Consultant, do most of your cohort in the IT line earn as much as you? If not, what do you think is their average compensation?
software engineer Says:
May 20th, 2009 at 9:30 pm
Hi IT consultant,
What are the skills you gain to earn a fat pay check?
another IT consultant Says:
May 21st, 2009 at 9:13 am
hi all, I am 31 and making 150k pa without factoring in my options and bonus.
Obviously, not all in my cohort earn that much, as most of you may have already found out.
Skills, average compensation are the wrong questions. You should ask which industries/fields and position will allow you to command the salary. =)
software guy2 Says:
May 21st, 2009 at 10:46 am
Dear “another IT consultant”, so which industries/fields and positions will allow consultants like yourself to command such good salaries?
another IT consultant Says:
May 21st, 2009 at 11:06 am
http://www.hays.sg/salary/pdfs08/In...
my pay ain’t fantastic
software guy2 Says:
May 21st, 2009 at 3:37 pm
Well, many of us out there certainly think otherwise. Appreciate your modesty. Could you fill us in a bit on which are the industries/fields and positions that give such reasonable
salaries?
adviser Says:
May 21st, 2009 at 3:56 pm
Hi guys – true that certain industries / skill sets contribute to pay, but at the end of the day, it is the company that you work for that matter
Usually, unless the employees are shareholders of a local company, those earning more than 100K per annum were hired by a MNC. Their talent could be equal to someone working in a local company, but it is luck / ambition / political finesse that makes the difference.
Big companies like Cisco, SAP, Avaya have no qualms about paying a 30 year old IT consultant / specialist more than 120k a year as these are equivalent rates in the US. In Singapore, the local rate for a IT consultant should range from 3-6K max for someone in early thirties (even banks pay that rate) – it really has to do with the financial capacity of the hirer.
If you are willing to make the switch, you could be amazed by the leap in salary scale – of course you might think the responsibility is greater (now that you are carrying a MNC’s reputation), the actual fact is that nothing much differs from a local company! You may (in the case of some US companies) work less, enjoy more freedom, more perks to your comp plan and ultimately climb the corporate ladder a lot faster thanks to the impressive MNC name in your resume.
My friends, in their early thirties, as IT consultants for MNCs, get on average 150-180K per annum, and they lament that they are not getting enough – the irony of human greed.
So think about making the switch – there are far less competent ‘talents’ out there in MNCs than you think (because I know) – what they might have are guts, good verbal skills and of course, unverified glowing CVs. For all you know you could be the next one enjoying that 5 figure paycheck. Good luck
adviser2 Says:
May 21st, 2009 at 7:15 pm
Foreign banks pay quite well too. Well foreign banks are MNCs too.
software engineer Says:
May 21st, 2009 at 10:26 pm
hi adviser,
what roles are your friends playing to hold such a high pay check?
network / system or software guy?
I never knew any IT consultant can pick up such pay
another IT consultant Says:
May 21st, 2009 at 11:10 pm
another type of engineer rakes in that amount.. hint hint =)
Hays Salary Guides 2009 | Salary.sg - Your Salary in Singapore Says:
May 23rd, 2009 at 12:02 am
[...] to a comment from a reader, I got to know about the Hays 2009 Salary [...]
IT Consultant Says:
May 27th, 2009 at 2:08 am
getting industry IT certificates help … i am a CCIE (cisco certified internetworking expert)
IT Consultant Says:
May 27th, 2009 at 2:09 am
and i work for cisco systems …
admin Says:
June 14th, 2009 at 10:27 pm
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Compare Your Household Income 2009 - Page 3 - Salary.sg Forums Says:
June 15th, 2009 at 3:23 pm
[...] Hence my fustration. Yes, I get your point now. I also tried using this other comparison tool at Compare your annual salary (2008) | Salary.sg – Your Salary in Singapore which I gather is using Iras official data. Assuming no bonus, a 4k monthly (hence 48k annual) [...]
Compare Your Annual Income 2009 | Salary.sg - Your Salary in Singapore Says:
October 9th, 2009 at 12:07 am
[...] you can tell, if you earn the same income as last year, you would have dropped a few notches. A $100,000 income would put you at the 81.4th percentile [...]
Do You Earn More Than $52,350 – The Median Annual Income? (salary.sg) Says:
March 10th, 2010 at 1:10 pm
[...] grew to $49,100 in 2004, then to $49,850 in 2005. It subsequently increased to $50,800 in 2006, and finally to $52,350 in 2007 (i.e. [...]