What is the average Sporean's salary??
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Ok hardfacts
Employees Income for 2005 is S$80,379million (source: http://www.singstat.gov.sg/keystats/mqstats/ess/aesa19.pdf)
Number of employees as at Dec 2005 is 2.317million (source: http://www.mom.gov.sg/publish/momportal/en/press_room/press_releases/2006/20060201_Employmentsituationinfourthquarter.html). Pls note, average employed employees for the 12 months ended 2005 would be a better number but I believed that Dec 2005 number would be a good proxy. If anyone cares to calculate, pls post.
Therefore Annual Income per employee for 2005 is therefore S$34,691 p.a.
Assuming it is based on an avarage 14 months (assumption: AWS with additional 1 month bonus/commission/etc) and ALL (assumption) employees received the 13% employer CPF contribution, the monthly salary of "Employed Employees" for 2005 is circa S$2,193/mth +/- 10% for variances in best guess assumptions -
So it is $2193... mm..Originally posted by racingcar:Ok hardfacts
Employees Income for 2005 is S$80,379million (source: http://www.singstat.gov.sg/keystats/mqstats/ess/aesa19.pdf)
Number of employees as at Dec 2005 is 2.317million (source: http://www.mom.gov.sg/publish/momportal/en/press_room/press_releases/2006/20060201_Employmentsituationinfourthquarter.html). Pls note, average employed employees for the 12 months ended 2005 would be a better number but I believed that Dec 2005 number would be a good proxy. If anyone cares to calculate, pls post.
Therefore Annual Income per employee for 2005 is therefore S$34,691 p.a.
Assuming it is based on an avarage 14 months (assumption: AWS with additional 1 month bonus/commission/etc) and ALL (assumption) employees received the 13% employer CPF contribution, the monthly salary of "Employed Employees" for 2005 is circa S$2,193/mth +/- 10% for variances in best guess assumptions -
Only 2.317million ppl working? Wat's our population? 4mil plus how many FT?
So 1 out of 2 is not working
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Mid year 2005 total population is 4.351millionOriginally posted by T.Ryousuke:Only 2.317million ppl working? Wat's our population? 4mil plus how many FT?
So 1 out of 2 is not working
Mid year 2005 resident (S'poreans & PRs) population is 3.554million
(source: http://www.singstat.gov.sg/keystats/hist/population.html)
Therefore non-resident (FT, student pass, etc) population is about 797,000
Also Resident (S'poreans & PRs) working person's montlhy income (incl AWS, bonus, commission, allowances, tips, etc but excl employer's CPF) distribution is as follows:
S$
0 - 499 3.7%
500 - 999 9.5%
1000 - 1499 13.4%
1500 - 1999 13.0%
2000 - 2999 21.0% - Median is about S$2,497
3000 - 3999 13.5%
4000 - 4999 7.9%
5000 - 5999 5.2%
6000 - 6999 3.2%
7000 - 7999 2.1%
8000 - 8999 1.7%
9000 - 9999 1.0%
10000 and above 4.9%
Average resident monthly income based on extrapolation and assuming that those earning S$10,000 and above earns, on average of say S$12,000 is approx S$3,308 per month
The $2,193 number in the above post includes non-resident working population.
Therefore, on average, non-resident monthly income is lower than that of residents.
In summary, the average working resident in S'pore earns about S$2,497/mth.
Working residents in S'pore earns, on average, about S$3,308/mth. Note the different context. -
the kids and the retireds......Originally posted by T.Ryousuke:Only 2.317million ppl working? Wat's our population? 4mil plus how many FT?
So 1 out of 2 is not working
imagine 2 working adults have to support 2 parents and 2 kids.......
as singapore becomes a state with high aging population, there will be more and more dependents than earners..... -
If company giving 7 mth bonus and the employee can end up having a $50k income per year with only a $2.6k basic.Originally posted by racingcar:Also Resident (S'poreans & PRs) working person's montlhy income (incl AWS, bonus, commission, allowances, tips, etc but excl employer's CPF) distribution is as follows:
Base on these figure no wonder the banks are desperado on issueing credit card. -
Wow...didnt know so many ppl are interested in this topic
I dont see the problem with earng little and driving big cars/ living in condos etc.
You live only once, and you wanna drive a small car all your life??????? Kinda sad rite??
And what's up with ppl GLORIFYING saving money??? When you die, it's not as if you can take all that money to your grave.
However, save a little but dont be such a miser such that you save more than you spend.
There's nothing wrong with splurging, going for retail therapy...you work hard for your money, enjoy it. -
Wow...didnt know so many ppl are interested in this topic
I dont see the problem with earng little and driving big cars/ living in condos etc.
You live only once, and you wanna drive a small car all your life??????? Kinda sad rite??
And what's up with ppl GLORIFYING saving money??? When you die, it's not as if you can take all that money to your grave.
However, save a little but dont be such a miser such that you save more than you spend.
There's nothing wrong with splurging, going for retail therapy...you work hard for your money, enjoy it. -
sentiments exact...Originally posted by Jerina:Wow...didnt know so many ppl are interested in this topic
I dont see the problem with earng little and driving big cars/ living in condos etc.
You live only once, and you wanna drive a small car all your life??????? Kinda sad rite??
And what's up with ppl GLORIFYING saving money??? When you die, it's not as if you can take all that money to your grave.
However, save a little but dont be such a miser such that you save more than you spend.
There's nothing wrong with splurging, going for retail therapy...you work hard for your money, enjoy it. -
go ahead no 1 is stopping you~
singapore needs people like u to spend $$ to boost the economy..keep it up k!!
i will rather do my part in boosting the economy by giving commisions to my financial adviser..
i cant agree more with u that one must enjoy life..i'll never noe if i can wake up from my sleep tonight!
By all means spend if u can afford it,my pt is never buy a hat that is too big for ur own head. -
most of the 2.3 million workers are foreigners.Originally posted by T.Ryousuke:Only 2.317million ppl working? Wat's our population? 4mil plus how many FT?
So 1 out of 2 is not working 
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I do agree with u.Originally posted by No9:go ahead no 1 is stopping you~
singapore needs people like u to spend $$ to boost the economy.keep it up k!!
i will rather do my part in boosting the economy by giving commisions to my financial adviser..
i cant agree more with u that one must enjoy life..i'll never noe if i can wake up from my sleep tonight!
By all means spend if u can afford it,my pt is never buy a hat that is too big for ur own head.
Base on those figure atleast we noe where we stand, must say some income are not delare and some ppl become rich by selling their ppty end up no need to work.
Izzit the figure din incl. FT income? -
Originally posted by Jerina:Wow...didnt know so many ppl are interested in this topic
I dont see the problem with earng little and driving big cars/ living in condos etc.
Then be forever in debt.
You live only once, and you wanna drive a small car all your life??????? Kinda sad rite??
And what's up with ppl GLORIFYING saving money??? When you die, it's not as if you can take all that money to your grave.
It's true, life isn't all about dollars and sense.
However, save a little but dont be such a miser such that you save more than you spend.
There's nothing wrong with splurging, going for retail therapy...you work hard for your money, enjoy it.
Then I bet u don't have a long term financial goal. Retirement funds are far from ur mind. -
well said~Originally posted by Rock^Star:
I think singaporeans generally have poor financial management (including me)...and perhaps are too easily influenced by what they percieve as 'must have' . i have friends from poly that sign on with the army juz because they want to buy a car.eh..i tink thats rather shallow thinking.
feel free to say im dumb, and i dun mean to offend anyone, but i believe good financial management is extended to ur partner as well. Its very difficult for me to have a gf that needs to go for manicure every week...personally as a guy i see no pt doing it..and i've no intentions to do the dishes after dinner becus she does'nt want to destroy the cute little butterfly designs on her nails..ladies pls dun feel offended.
Thank god, for not letting this happen to me~ -
Yep. Financial planning should take into account one's partner as well. If only I can make my bf see that....
anyway, it's very true. unless one has a long term goal to work towards to, the money will just keep flowing out on short term wants. And chances are, these wants are treated like a little kid's toys - play for a while, get sick of it, seek a new one. -
Girls will be girls, forever buying 10 bras, 10 shoes and 10 dresses a year.Originally posted by No9:well said~
I think singaporeans generally have poor financial management (including me)...and perhaps are too easily influenced by what they percieve as 'must have' . i have friends from poly that sign on with the army juz because they want to buy a car.eh..i tink thats rather shallow thinking.
feel free to say im dumb, and i dun mean to offend anyone, but i believe good financial management is extended to ur partner as well. Its very difficult for me to have a gf that needs to go for manicure every week...personally as a guy i see no pt doing it..and i've no intentions to do the dishes after dinner becus she does'nt want to destroy the cute little butterfly designs on her nails..ladies pls dun feel offended.
Thank god, for not letting this happen to me~
Financial management is really up to the individual, if he/she doesn;t see the need to save long-term, so be it. But when we start saving now, we pay less instalments towards our retirement. -
10 shoes, 10 bras, 10 dresses a year?????????Originally posted by Rock^Star:Girls will be girls, forever buying 10 bras, 10 shoes and 10 dresses a year.
Financial management is really up to the individual, if he/she doesn;t see the need to save long-term, so be it. But when we start saving now, we pay less instalments towards our retirement.
We buy MORE!!!!!!!!!!!!!!!!!
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Can open shop liao huh?Originally posted by Jerina:10 shoes, 10 bras, 10 dresses a year?????????
We buy MORE!!!!!!!!!!!!!!!!! -
icantevenaffordanewkeyboardaftersomanyyears