Author: Salary.sg - Your Salary in Singapore

Top 100 Jobs In Singapore (2015)

This is Salary.sg’s 2015 edition of the 100 Best-Paying Jobs in Singapore. Just like last year, we have included a second ranking table specifically for the Financial Services Industry which we all know is the source of many highly paid jobs here. We used the wage data from Ministry of Manpower (MOM) to generate our Top Jobs ranking tables. The MOM wage data exclude bonuses and profit sharing. Also, take note that “(the) wages for certain occupations, especially those where performance-based bonuses constitute a significant portion of total wage, would be lower than expected. Examples of such occupations are...

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Compare Your Annual Income 2015

We have updated our most popular income comparison tool on Salary.sg. This is the 2015 version of our Compare Annual Income tool. It uses the latest data from IRAS’s released recently Annual Report for 2014/2015. To benchmark/compare your annual income – including all salaries, commissions, bonuses, part-time remuneration, director’s fees, rental income – simply enter your IRAS assessable income below and see how well you stack up against all resident taxpayers in Singapore: If you make $150k yearly, you are at the 88.1th percentile. The same amount would place you at a slightly higher 88.3th percentile if you used...

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Graduate Employment Survey 2014 (Published 2015)

Law, Medicine, Business and IT are tops yet again in the latest Graduate Employment Survey Results. However, there are 3 newcomers among the top 10 degree programmes (ranked by average gross salary) – Architecture, Dental Surgery and Aerospace Engineering. In the top 10, NUS took 5 places, while SMU got 4 and NTU just 1. Fresh lawyers earn an average gross monthly salary of $5k+. Doctors came in just shy of $5k, while the rest in the top 10 make between $3.9k and $4.4k. At the bottom of the table are: Industrial Design, Art Design & Media, Applied Sciences,...

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Compare Your Income To 10 Years Ago

Things are getting expensive, but is your income increasing at a rate that matches inflation? The following are the official annual CPI inflation rates for Singapore since 1980, published by The Department of Statistics (government agency). Inflation figures: 1980 to 1989: 8.5% 8.2% 3.9% 1.2% 2.6% 0.5% -1.4% 0.5% 1.5% 2.4% 1990 to 1999: 3.4% 3.4% 2.3% 2.3% 3.1% 1.7% 1.4% 2% -0.3% 0% 2000 to 2009: 1.3% 1% -0.4% 0.5% 1.7% 0.5% 1% 2.1% 6.6% 0.6% 2010 to 2014: 2.8% 5.2% 4.6% 2.4% 1% Each number may not seem high, but over the years, the numbers have a...

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Android, iPhone and iPad Apps For Your Parents To Check Singapore Stock Prices

If your parents had been using the now-defunct Teletext to monitor stock prices, the new SGX Stocks 股 App is the perfect app for them. Fast and easy to use, this app lets your folks easily track up-to-the-minute prices of their shares on their smart phones. Download SGX Stocks 股 App for your parents today. The SGX Stocks 股 App is now available for use on all Android and iOS devices: SGX Stocks 股 in Google Play Store SGX Stocks for iPhone | SGX Stocks for iPad in iTunes App Store The SGX Stocks App offers these features: View...

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Five Retirement Myths that Singaporeans Should Stop Believing

Retirement is an increasingly contentious issue in Singapore. The issues are varied, ranging from the adequacy of the Central Provident Fund (CPF) to the rising cost of living. Amid all the coffee shop talk and internet flame wars, some persistent myths have begun to emerge. You probably know more than one of these: Retirees will spend less Having loads of money will result in a happy retirement Property is always the best investment for retirement The most expensive insurance plan is the best for retirement Fixed deposits alone will provide for retirement 1. Retirees Will Spend Less It is...

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Compare Your Household Income 2014

For households living in HDB 5-room and executive flats, the average monthly household income is $11,199. For those condo households, the figure is $19,340. For landed households, it is $23,994. This is according to the Key Household Income Trends 2013 report published by the Singapore Department of Statistics. The median monthly household income is now $7,870, up from $7,570 last year. If you and your spouse make a combined income of more than $7,870, your family is better off than half the households here. Those at the upper echelons make much more. The families in the top 10% (“top...

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If you are not a millionaire, you shouldn’t retire, say DBS financial experts

In this ST article, DBS financial experts calculated that S$900,000 is needed to fund a S$3,500 monthly payout during retirement. You need to be a millionaire in order to retire. This is cause for concern. I believe the S$900,000 figure is the net asset figure, i.e. total assets minus liabilities (debt). If it is cash, then things look even worse for most people. How many millionaires are there in Singapore? A 2014 Boston Consulting Group (BCG) report states that there are 100 millionaire (USD) households out of every 1,000 households in Singapore. In other words, only 10% of households...

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Civil Service Bonus End-2014

All civil servants will get a total of 1.8 months of bonus at this year end, according to this PSD press release. This bonus consists of the standard one-month NPAA (which is commonly called the “13th month bonus”) and 0.8 month of AVC. The acronym NPAA stands for “Non-Pensionable Annual Allowance”, while AVC stands for “Annual Variable Component”. If you include this year’s mid-year bonus of 0.5 month, civil servants are getting a grand total bonus of 2.3 months this year. This is 0.2 month less than last year’s grand total bonus of 2.5 months. Just like last year,...

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When Should You Consider Working Past 62 in Singapore?

In a Young NTUC survey, 70% of participants said they wanted the option to work past 62. If you know Singaporeans, that’s not a surprise – this country’s so workaholic, some of us play golf at night. So when the re-employment act kicked in, most of us signed the re-hiring contracts before our bosses even reached the “r” in “Are you staying?” But why are people working longer? It all depends: How does the Retirement and Re-employment (RRA) benefit workers? The new Retirement and Re-employment Act (RRA) was lobbied by the NTUC and implemented to allow Singaporeans the option...

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How does Singapore really stack up against the rest of the world?

We previously looked at the figures offered in the Singstat report and it suggests that all is well and that the economy is constantly improving in the country. This article will look at figures from around the world to examine how good the numbers for key income trends really are when compared to the rest of the world. 1. Singapore’s Median Household income is higher than most countries. The increase in the amount of the median household income for household where at least one person is working has increased from S$7,570 (6,050 USD) in 2012 to S$7,870 (6,290 USD)...

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Choosing A Car Insurance Policy

Motor insurance policy terms can be confusing for most people and you may end up paying for features you do not need or worse, be stuck in a situation where you are put at great financial liability. So, make sure that you know exactly what you are paying for and what you are getting in return. How are rates calculated? Policy premium rates will most likely depend on the model of your car, your current driving record, you history with insurance as well as the features of the policy that you sign up for. Always research every aspect of...

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FCF Shows Its Bite As Jobs Bank Listings Spike

The Ministry of Manpower’s Fair Consideration Framework (FCF) seems to be having its desired impact as more than 56,000 jobs have been listed on the National Jobs Bank, the final piece of the FCF rollout since it was announced in September 2013. This compares to over 51,000 jobs listed on commercial site Jobstreet.com.sg and 26,000 on JobsDB. PMEs make up nearly half of Singapore’s workforce and the Ministry of Manpower has said that this will help build a “strong Singaporean core” of PMEs. Administered by the Workforce Development Agency, the National Jobs Bank lists local job vacancies for free,...

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Compare Your Annual Income 2014

This is the 2014 version of the most popular income benchmarking tool on Salary.sg. It uses the latest data from IRAS’s just-released Annual Report 2013/2014. To benchmark/compare your annual income – including all commissions, bonuses, part-time salaries, director’s fees, rental income – simply enter your IRAS assessable income below and see how well you stack up against all resident taxpayers in Singapore: A $150k per-annum income will place you at the 88.3th percentile. If you make more than $91,200, you are in the top quartile (i.e. top 25%) of all resident taxpayers. To be among the top 10% earners,...

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