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As property market heats up again, you may be interested in buying a new home and taking up a Sibor-pegged property loan.Do you know that the 3-month SIBOR rate shot up to an astonishing 9.5% in early 1998?Or that it went to a low of 0.56% in mid-2003?The following chart shows the interesting history ...
Following the previous post on degree holders’ income, we now look at the income of diploma holders.The following are the numbers for diploma holders, also from the same MOM report on the labour force:Median Gross Monthly Income for Diploma HoldersAge group 25-29: $2,170 (males $2,170)Age group 30-39: $3,060 (males $3,250)Age group 40-49: $4,000 (males ...
Here’s the latest salary benchmark tool that we’ve all been waiting for.It uses the data from Ministry of Manpower’s Report on Labour Force in Singapore 2007, which is just released about 1 month back.Because “gross monthly income” in the MOM report includes bonuses, you should take your annual income and divide by 12 to ...
Don’t be fooled by those “get rich” seminars, says a Sunday Times article today (as I interpreted it).Flip open the papers, and you’ll see some advertisements on “How to make lots of money doing XYZ“, where XYZ can be “options trading”, “forex trading”, or “shares trading”.As some will say, the only …
The Big 4 accounting firms in Singapore - Deloitte, Ernst and Young, KPMG and PricewaterhouseCoopers - have all raised the starting pay of fresh entrants.This is reported in today’s Straits Times.But auditor upstarts with the Big 4 still get low starting salaries of $2,400 to $2,600 per month compared to other industries like banks ...
And he’s only 28 years old. This puts him in the top 90% in his age group, according to Salary.sg’s benchmarking tool.But Mr Dharambir the security guard is in the news for a different reason.While having a drink with his friends, he boasted about his $4,000-a-month salary, and later got hit by one of ...
This year, civil servants will get the usual AWS and a one-off payment of 0.25 month capped at $750.This means that a civil servant earning a monthly salary of $3k will get 1.25 months of bonus worth $3,750, whereas another civil servant earning $10k a month will only get 1.075 months or $10,750.Whose bonus would ...
Ok, not all of them.The “Class of 2007″ of Singapore Management University (SMU) are getting higher starting salaries than their seniors.According to the SMU employment survey, their salaries are 6.7% higher than the previous cohort.Of the 618 survey respondents, 69 got high-paying jobs that pay between $4,000 to $10,000 a month.And those who got ...
Thanks to a comment from “Passerby” on my previous post on SingTel’s unfair tactic, I now believe - though I’m not a lawyer - that SingTel has violated the Telecommunications Act’s Code of Practice for Provision of Premium Rate Services, which states:“2.3.1 No premium rate service provider shall engage in the practice of providing ...
About half of fresh graduates polled here are unemployed. If you are a male fresh graduate affected by the recession, you should consider joining the Singapore Armed Forces.As reported in ST today, a lieutenant-colonel retiring at age 45 (the current retirement age) will get about $700,000 in gratuity. Such lump sum payments make it ...
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 …
Flip to page 8 of Sunday Times and read about an ex-telemarketer making $20,000 every month working for Citibank and DBS:“From 2000 to 2003, he was a telemarketer for Citibank and DB …
If you and your spouse are working professionals making median salaries, it’s not hard for both of you to accumulate $1 million before you reach 45 years old.Suppose both of you started working at age 25, and always save and invest one-third of your income. If your savings and investments earn just a 3% rate ...
Eugene Soo, only 26 years old, makes $20,000 a month as a financial adviser (sometimes called “insurance agent”).The Nanyang Polytechnic and NTU alumnus already made it to the “Million Dollar Round Table” in his first year of work, making $8,000 to $10,000.He saves $16,000 each month.See today’s Sunday Times for more info.It is no ...
Forbes has released the list of richest people in Singapore. (The title of this post is not exactly right - a couple of them are women.)Can we learn a thing or two about getting rich from this list? Maybe.More than a handful of these 40 people are into property and banking (i.e. choose the ...
It’s tax filing season again. Here’s the Income Tax Calculator for Year of Assessment 2008.This year, there’s a special 20% tax rebate for Singaporeans and PRs, capped at $2,000. See previous post.You may want to do a year-on-year comparison using last year’s calculator.Reference: Tax rates are obtained from this IRAS page.
Or, put simply, a “discount” of 20% on your income tax.Finance Minister Tharman Shanmugaratnam has announced in his budget speech that all resident taxpayers will get a tax rebate of 20% for Year of Assessment 2008.I take this to mean that after you file your taxes this year (in April 2008), you will enjoy ...
I think the Straits Times over-glamorised the real estate profession in its multi-page spread on “Rodeo Realtors” yesterday.In terms of their income.Maybe the writers were being very selective and showcased only the highly successful property agents.But I don’t think it’s a stretch to say that the article may mislead a few young minds, much ...
Civil servants will receive a total bonus of 2 months this year, inclusive of the 13th month bonus. This is 1 month less than last year’s bonus.As they have already received half a month’s bonus at mid-year, they will receive the 13th month annual wage supplement (AWS) and a further half month’s bonus at ...
So, you slogged through more than 10 years of your life to get that coveted degree.But are you earning a decent monthly income?Let’s define “decent” as being at least slightly more than 50% of your cohort, or what’s called the median.If you’re getting way below the median, maybe you need to do something about ...
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