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All about Income, Jobs, Career, and Investment in Singapore

 

Fresh GP Doctors Make $10k

August 29th, 2010

Non-specialist doctors who join medical groups as general practitioners earn a starting pay of $10k/mth, with a 13th-month bonus thrown in. In other words, these salaried medical professionals make $130k/yr fresh out of training.

This is according to an article in yesterday’s Straits Times, which highlighted the trend of young doctors joining medical groups instead of starting their own private clinics.

Starting a solo practice requires $150k or so, said a doctor who’s with a medical group. And the income may or may not be better.

“… a highly successful solo practitioner can earn ($20k/mth) or more, but a less successful one may make $8k to $9k or less, said (another doctor).”

Even locums make $70/hr.

See also our 2007 articles on Doctors’ pay and Income of GP Doctors.

Top 25 Jobs In Banking & Finance

August 25th, 2010

Want to know which are the best-paying jobs in the highly lucrative Banking & Financial Services industry?

We have compiled a list of 25 high-earning jobs based on the MOM Report on Wages in Singapore 2009.

Unsurprisingly, jobs like forex dealer, commodities futures broker, sales manager and risk manager feature prominently in the list.

Here’s the list. The wage numbers are the third-quartile monthly gross wages.

  1. Managing director – $41,279
  2. Company director – $21,700
  3. General manager – $18,000
  4. Foreign exchange dealer and broker – $17,434
  5. Sales manager – $12,667
  6. Legal service manager – $11,807
  7. Commodities futures broker – $10,000
  8. Computer and information systems manager – $9,583
  9. Operations manager (Finance) – $9,459
  10. Budgeting and financial accounting manager – $9,345
  11. Personnel / Human resource manager – $9,340
  12. Risk management manager – $8,840
  13. Corporate planning manager – $8,120
  14. Business development manager – $8,110
  15. Marketing manager – $8,033
  16. Fund manager – $7,892
  17. Administration manager – $7,200
  18. Treasury manager – $7,050
  19. Legal officer – $7,000
  20. Customer service manager – $6,667
  21. Credit analyst – $6,200
  22. Finance sales associate professional – $5,944
  23. Computer operations and network manager – $5,868
  24. Market research analyst – $5,356
  25. Business analyst – $5,300

See also our List of Top 100 Jobs in Singapore 2010 and Median Pay of Managers and Professionals.

Are You Earning More Than Median Pay?

August 15th, 2010

Managers in their late thirties earn a median gross salary of $6,328/mth.

Professionals in the same age group make $4,970/mth.

Are you above the median? (In other words, are you in the top 50% of your cohort?)

Or are you below the median?

Based on the MOM Report on Wages in Singapore 2009, these are the median gross monthly wages for the various groups:

Managers

  1. 25-29 age group: $3,800
  2. 30-34 age group: $5,250
  3. 35-39 age group: $6,328
  4. 40-44 age group: $7,031
  5. 45-49 age group: $7,073

Professionals

  1. 25-29 age group: $3,283
  2. 30-34 age group: $4,125
  3. 35-39 age group: $4,970
  4. 40-44 age group: $5,448
  5. 45-49 age group: $5,700

See also our List of Top 100 Jobs in Singapore 2010.

Top 100 Jobs In Singapore 2010

August 8th, 2010

This is the 2010 edition of our very popular list of 100 best-paying jobs in Singapore. As with previous editions, this list is based on income data from the recently released MOM Report on Wages in Singapore 2009. MOM uses actual CPF data, but only the base monthly wage data are published. This means bonuses [...]

Read the full article at Top 100 Jobs In Singapore 2010

Citizens A Minority In MNCs?

July 31st, 2010

A friend of mine works in an MNC. He commented recently that Singapore citizens are a rare breed at his workplace. In his extended team of about 30, there are Indians, British, Asian Americans and Malaysian Chinese, but only 2 Singaporeans. And one of the 2 is a contract worker! This is not only limited [...]

Read the full article at Citizens A Minority In MNCs?

When Buying Properties, Avoid Flood-Prone Areas

July 24th, 2010

If you are still considering buying properties despite this advice, and both HDB prices and private residential prices at historical high, you have to take note of the flooding factor. Ditto if you are renting a place. Regular flooding is a recent phenomenon in Singapore. After the completion of the marina barrage, which “helped to prevent [...]

Read the full article at When Buying Properties, Avoid Flood-Prone Areas

At Property Peaks, Don’t Buy

July 11th, 2010

Condo units sold during the 1996-1997 property peak are now selling at below their launch prices. This is reported in yesterday’s Straits Times. But in the report, no one stated the obvious: You are taking a big risk if you buy at a peak. The ST article listed 3 freehold properties that are still “under [...]

Read the full article at At Property Peaks, Don’t Buy

$1Million To Raise 2 Kids

July 4th, 2010

It costs about one million dollars to raise 2 children in Singapore. Don’t be too alarmed. Let’s take it positively – you may treat your children as “assets” and include this cost as part of your wealth. So, add $1 million to your net worth if you have 2 children. $2 million if you have 4 [...]

Read the full article at $1Million To Raise 2 Kids

31% Hit Medisave Contribution Ceiling Before 33

June 22nd, 2010

In a recently concluded Salary.sg poll, 31% of the respondents indicated that their medisave balance reached the prevailing medisave contribution ceiling before they were 33 years old. Are you one of them? Once your medisave balance hits the MCC, the excess will be transferred to your Special Account. How soon you hit the MCC is an [...]

Read the full article at 31% Hit Medisave Contribution Ceiling Before 33

We Are Wealthier Than Switzerland

June 14th, 2010

In fact, we are wealthier than both Hong Kong and Switzerland if you look at the “Pockets of Wealth” ranking table published by Business Times. (The BT article in turn based its info on reports from Boston Consulting Group.) To be specific, Singapore has a higher percentage of millionaire households than Hong Kong and Switzerland. [...]

Read the full article at We Are Wealthier Than Switzerland