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
50% mark is at $50,750
about $3,904 monthly salary,
which means half of our working people make $3900 & above?
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.
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?
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.
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?
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no need. just use 74k.
Can you please tell me the salary for a Deputy Director in the Ministry of Information and Culture in Singapore.
Thank you.
Many, many thanks for the salary info
how does a 34yr old earning 6k/mth look? High, mid or low paid?
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
i meant comparing 34 years old who have at least a bachelor degree…i don’t mean compare with fresh graduates.
I kinda knew my pay was low.
Sigh.
not bad oledi lar..take it easy
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.
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.
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.
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.
Sugar, u sound like a high flyer are u?
I guess I shld learn to be contented with my pathetic pay.
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
once you start comparing, it’s always never quite enough…
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.
my assumption is: 1 month AWS + 1.5 to 2months variable..i think thats the norm standard
I’m taking it easy already.
In this sort of financial climate, I’ll take it 🙂
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
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..
In times like this, stay put in your job unless you can move to a more stable place.
sugar
may i know what industry u are in ?
thanks.
i am in the oil/gas industry.
Sugar, I m in the oil and gas industry too. 😀
Nick, cool! how is your salary range like?
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.
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?
i have a total of 5 years of working experience since grad, and i am getting 6.8k/month.
sugar, you are getting a very high pay for someone with just 5 years work experience.
Count your blessings. 🙂
To Nick,
is your company having any rumours about retrenchment/pay cuts and all that?
just curious, does the falling oil prices affect you guys?
yes it does…cheaper oil means some oil exploration projects are put on hold.
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?
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?
u mean oil companies are only willing to pay upwards slowly like cooking a frog in slow boiling water ??
hahaaaa
dude you make loads if you are in oil and gas..try reading the post again
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?
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.
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.
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
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
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.
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.
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.