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.
200 Comments
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.
hi Shanghai,
it will be with MAS, associate role with 3 yrs relevant experience š
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.
Thanks for the info š
headhunted? well done, Shanghai!
stat boards are for farmer graduates. The elite in civil service are working in the ministries.
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.
nevertheless, it has been really informative here.
thanks everyone, esp. Shanghai š
32yo female w 10yrs exp recently join ministry @ 5.2k snr exec position. PA88.5k Does this remuneration seems reasonable?
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?
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?
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. 8)
mama_mia28,
$88.5k p.a. package seems pretty reasonable š
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.
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.
Hi. May I know how much does a radiographer and radiation therapist earn in a month? thx.
just for info sake, most Inv. Bank pay their IT grads starting from 4K upwards, so getting up to 6-7K by 30 expected..
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! =)
teaching in one university, 110k pa
140k pa including bonus, “manager” in a bank, but just doing basic coordination work, considered junior staff.
I guess we just have to be wary of the reported salaries…
Some do not make sense.
Which ones do not make sense to you?
In my opinion, the ones from the 31yo and 34yo are quite believable.
i feel so lowly paid.
35 this yr. 6k/mth only.
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.
Trust me, there are MANY people who are VERY overpaid by your rule of thumb.
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.
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.
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.
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.
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.
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
“I started on $2K a month, fresh from uni 7 yrs ago. No bonus. Iām 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?
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………..
hi …
36 years old, in IT line, local grad … earning 160k per annum …
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?
Hi IT consultant,
What are the skills you gain to earn a fat pay check?
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. =)
Dear “another IT consultant”, so which industries/fields and positions will allow consultants like yourself to command such good salaries?
http://www.hays.sg/salary/pdfs08/Information%20Technology.pdf
my pay ain’t fantastic
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 š salaries?
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
Foreign banks pay quite well too. Well foreign banks are MNCs too. š
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 type of engineer rakes in that amount.. hint hint =)
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getting industry IT certificates help … i am a CCIE (cisco certified internetworking expert)
and i work for cisco systems …
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