Income Inequality in Singapore: Our Annual Peek (2013)
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Income Inequality in Singapore: Our Annual Peek (2013)
By Ryan Ong | MoneySmart – Wed, May 1, 2013 12:00 AM SGT
Income inequality measures how much richer the rich are, compared to the poor. It’s a polite term economists created, to replace: “Here’s how far the poor are from ramming sharp objects in your face”. And in Singapore, that distance seems to be…let’s see…oh okay. You all enjoy this infographic, while I book an emergency flight to Mali.
Household to Household
Overall, the top 10% of Singapore households had incomes of $10,543 per member. The bottom 10% had earnings of $422 per member. (You can see more figures from the Singapore Department of Statistics)
Note that the top 10% earns almost 25 times the bottom 10%.
The disparity seems mostly related work qualifications. Unskilled Singaporeans can only sell their labour, but they can’t compete with mass imports of cheap foreign workers. So anyone who believesall Singaporeans “don’t want” blue collar jobs anyway…go tell that to these people.
Preferably from a distance, and with a good helmet on.
Monthly Gross Wages
The low income group makes about $800 to $1,500 a month. Mind you, there are some who earn far less than that. Either they’re not on the record, or have variable incomes (e.g. odd job workers).
The middle income earners make between $3,500 to $5,500 a month. For more on this wide ranging group, you can look up the Ministry of Manpower’s reports on wages). You should probably do that anyway, to make sure you’re not getting ripped off.
High income earners (company directors, senior management, etc.) tend to earn between $11,500 to $16,600 per month.
The absolute top earners can be calculated from our Ministers’ incomes.
Ministers’ salaries are good for this, because they are pegged to the 1,000 highest earners, minus 40%*. Why 40%? Because it exemplifies the sacrifice required of political service. Imagine that: Having to drink lower grade Bird’s Nest, and have only one lunch in Paris a week.
Anyway, the typical Minister is paid around $124,558 per month (the Prime Minister gets about double that). Add on 40%, and it suggests our top earners are looking at figures of about $174,381 per month.
*Pay Package of Top Civil Servants and Ministers Down 22%, Straits Times, 27 Nov. 2009
The Two Singapores
Due to the huge income divide, it can feel like we’re two different countries in one island. And I know when rich people talk, it sounds like a canary giving a goldfish pointers on flying.
But don’t let it get to you too much. Follow us on Facebook so we can help you make some money, and bring your friends along. The game may not be fair…but doesn’t mean you still can’t win.
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The PM said during election in 2011 if PAP won he will do something to deal with the widening of income gap. All talk and no actions is equivalent to telling lies. How many more lies do we have to hear from him? Vote him out and get him out of PM's position. He is making use of us to bring wealth to himself and at the same time he continues his oppression in Sinkingpore.
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he know very well he has to contro the number of foreign vs local workers in companies, and not anyhow let foreigenrs come in wonder aroudn the island and take lower salries than sgreans. bosses sure fire them, so sgreans difficult to take up these jobs. even if sgreans take up, the meagre slary how to feed family? this is not the only problem sgreans worried about.
we are not asking for the world or a lot, really.
like that also cannot help. no wonder hell also dont wnatim
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低俗政府以钱为主
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Surreal.
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Cai png very expensive.
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Yes, cai png damn expensive.
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Some people don' t deserve the obscene pay from taxpayers.
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who?
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According to our elites, if we don't pay them well, corruption will happen so we must pay them well to prevent them from corruption.
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t's true.
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Originally posted by charlize:
Yes, cai png damn expensive.
If u really buy only cai (vegetables) and png (plain rice), it is still not expensive
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Originally posted by Seowlah:
If u really buy only cai (vegetables) and png (plain rice), it is still not expensive
You must be elite.
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Originally posted by charlize:
You must be elite.
you must be from the grass root.
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I can dream.
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Our future mirrors like america declining middle class except we dun have their debt
Msnbc talks about the top 1% in america and ending of american dream
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Originally posted by Twilight SG:
Our future mirrors like america declining middle class except we dun have their debt
Msnbc talks about the top 1% in america and ending of american dream
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Originally posted by SJS6638:
Some people don' t deserve the obscene pay from taxpayers.
hmm.... some people say if u pay peanuts, u get monkeys.... but my view is that if u pay too much, u get people who want the money more than the work... i think the sad thing in Singapore is that it seems to be the 'elites' that PAP want... and that seems to link only with academic results.... some people can do well in exams... but badly in thinking socially.... Singapore is a small country.... the ministers seem to be paid more than the prime minster here in UK!!!! -
I sapport thread....definitely worth discussing
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Originally posted by charlize:
I can dream.
dream about caipng or become elite?
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Cai png.
