Income

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Archive for the 'Income' Category

More in Million-Dollar Club

Sunday, September 14th, 2008

It was 2,121 last year. This year, the number of people in this exclusive club is 2,751. Not an actual club where people exercise and socialise, this virtual club consists of people who made a million dollars or more last year. As you can see, the number of million-dollar earners has gone up quite a [...]


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How many people made 6-figure salaries last year?

Tuesday, September 9th, 2008

I remember reading somewhere that there are about 70,000 people making $100,000 or more last year. Well, that figure is wrong, at least according to the latest annual report from IRAS. As usual, I analysed the most important appendix in the IRAS report and found that 154,714 assessed taxpayers took home a 6-figure salary last [...]


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Investment Banker Making 500k pa Gives Excellent Advice

Tuesday, August 5th, 2008

I have previously said that investment banking is a very lucrative career option for able students (see post). What if you are already working, but in the wrong line, and want a mid-career switch into i-bankng? Read on. Yes, there are some very smart and very capable people who think they got into the wrong [...]

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Ex-Engineer now Makes 300k doing Sales

Monday, July 28th, 2008

Another generous reader shares his/her story here – thanks! “I knew engineering was a dead end, so I immersed myself into sales… companies reward mostly the ones who bring in the cash” Are we now convinced that Singapore is high cost low tech, engineering is a dead end career and all engineers should get out [...]

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Best-Paying Jobs in Singapore (2008)

Saturday, July 5th, 2008

(9 August 2009 – See the 2009 edition of this list.) This is the 2008 edition of my annual list of the top 100 jobs in terms of pay (see last year’s edition). This list is compiled based on data from MOM Occupational Wages Survey, which is published as part of the Report on Wages [...]

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Credit Card Promoter Makes 20k to 30k a Month

Sunday, June 22nd, 2008

In the Sunday Times cover story, it is mentioned that a credit card promoter made $20,000 to $30,000 a month. And that was in 2003, when the economy wasn’t so good and SARS (remember?) plagued the country. And she was only a 24-year-old business graduate at that time. “I thought making money was so easy,” [...]

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Tuition Teachers Make 20k

Tuesday, June 17th, 2008

Sunday Times just showcased 5 very successful and “most sought-after” tutors, a couple of whom are earning a 5-figure income every single month. Physics tuition teacher Phang Yu Hon, 41, reportedly makes $20,000 from 90 students. I believe he maintains the website www.physics.com.sg. Laura Oh, an NTU engineering graduate in her mid-twenties is getting a [...]

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Accountants with 5 years Makes 75k

Tuesday, June 10th, 2008

Accountants are always among the top earning professionals in Singapore, with the top 8 taking home a median pay of $4.0 million in YA2007 and $3.7 million the year before. Even our ministers and top civil servants have their remuneration benchmarked against accountants (along with 5 other groups of professionals). According to the Robert Half [...]

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Case Study 5 – Shrewd Millionaire Employee

Friday, May 30th, 2008

A reader called “whizzard” generously shares his experience in getting rich. “I was pretty careful in the way I spent money and diverted much of what I had left over into investments … My friends were having a ball, wining, dining and holidaying” Read his story here. Thanks, whizzard! [Edit: for more words of wisdom [...]

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Civil Service Bonus mid-2008

Wednesday, May 28th, 2008

Civil servants are to receive half a month of bonus for mid-2008, plus the following: “Officers in the lower divisions, Division III and IV, will receive $250 and $300 respectively. Division I and II officers will receive $100.” The higher payouts for the lower ranked civil service officers, compared to the higher ranks and also [...]

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