Average Salary To Live Comfortably In Singapore

[Guest Raiden Alpha]

LOL! My dear boy, from what I can remember of your age in your post to Cactus, I am much older than you are! So whose "vigor and quality of youth" were you referring to? Who is whose "predecessors" now? I was speaking from my experience. I had my dreams. I had done things right, and I had done things wrong. But if anything that I had never regretted was to dream big. Because if I cannot even dream big then, I would have only fitted myself into the tiny sad reality of the past. This is what "Life" is all about. You pursue your dreams and your goals. You will need to tamper your dreams along the way with major doses of reality. You will fall along the way, you will be discouraged, but you will also have your youth to drive you along the way. And you will learn from every word of discouragement that you hear, and every fall that you will take. But your "Dreams" and "Ambition" can only take you to higher heights than where you are now (hopefully Morally, which is another separate issue with Dreams and Caution), and not down to any lower levels.

Looks like I need to throw your own words back to you "You are those type that won't listen to the words of predecessors and have to live life through your own will..."

Good night now. This old man needs to sleep already. LOL! :"Vigor and quality of youth" indeed! How I wish so...

Don't just see age when it come to dealing with people.

Go and sleep lah

Edited March 2, 2014 by Raiden Alpha

[Guest livecomfortably]

29 here...makes around 4.2k gross 

have around 282k in stocks 

 

my aim is to amass about 2.8m by the time i am 39, 28m by time i am 49.....280m i m 59 and 2.8bn i m 69....then i m satisfied 

 

I did not expect my post to generate debates with such fervor...but thanks anyway for those who remind me to stay grounded.

 

For obvious reasons, I would not be sharing how I am going to achieve my dreams but rest assured, no animals or human beings will be harmed along the way.

 

Techno. geniuses like Mark Zuckerberg and Elon Musk achieved my dreams before they turned 40. (To qualify, they probably did not dream of amassing billions when they first set out to do the things they did.) So yeah, why not dream big? In Singapore, we have been indoctrinated to follow the tried and tested ways of achieving success. We have been reminded and warned of the consequences if we deviate. I have no issues with this but I believe these tried and tested ways can only bring one about 2-3m at most 10-20m but quite certainly not 100m or more. Therefore if one wants to achieve 100m and more, the Singaporean tried and tested ways will not work.

 

Back to the topic of how much should one earn to live comfortably? 1-2m is sufficient, which works out to be about $7k-$10k per mth....

But 2.8bn is just my dream...if I dun achieve that, it is fine but at least I tried...  

 

"You are those type that won't listen to the words of predecessors and have to live life through your own will,such is the vigour and quality of youth." 

It is precisely the vigor and quality of youth that are the qualities which drive young people to pursue their dreams.  

[Guest Raiden Alpha]

I did not expect my post to generate debates with such fervor...but thanks anyway for those who remind me to stay grounded.

For obvious reasons, I would not be sharing how I am going to achieve my dreams but rest assured, no animals or human beings will be harmed along the way.

Techno. geniuses like Mark Zuckerberg and Elon Musk achieved my dreams before they turned 40. (To qualify, they probably did not dream of amassing billions when they first set out to do the things they did.) So yeah, why not dream big? In Singapore, we have been indoctrinated to follow the tried and tested ways of achieving success. We have been reminded and warned of the consequences if we deviate. I have no issues with this but I believe these tried and tested ways can only bring one about 2-3m at most 10-20m but quite certainly not 100m or more. Therefore if one wants to achieve 100m and more, the Singaporean tried and tested ways will not work.

Back to the topic of how much should one earn to live comfortably? 1-2m is sufficient, which works out to be about $7k-$10k per mth....

But 2.8bn is just my dream...if I dun achieve that, it is fine but at least I tried...

"You are those type that won't listen to the words of predecessors and have to live life through your own will,such is the vigour and quality of youth."

It is precisely the vigor and quality of youth that are the qualities which drive young people to pursue their dreams.

Like I say he will not reveal out.

Abang must be disappoint with such an answer haha

But in his post vague clues are given and some people in the know of what he is trying to hint might be able to assimilate his ways but not all.

Anyway if only guest has the interests of the entire House of Commons in this nation in his heart he might want to go into politics? Maybe the people will see hope again if luminaries with a good heart is willing to step out to help the country.

But how many people in this country are willing to do that? Too few.

Edited March 2, 2014 by Raiden Alpha

[Steve5380]

LOL! My dear boy, from what I can remember of your age in your post to Cactus, I am much older than you are! So whose "vigor and quality of youth" were you referring to? Who is whose "predecessors" now? I was speaking from my experience. I had my dreams. I had done things right, and I had done things wrong. But if anything that I had never regretted was to dream big. Because if I cannot even dream big then, I would have only fitted myself into the tiny sad reality of the past. This is what "Life" is all about. You pursue your dreams and your goals. You will need to tamper your dreams along the way with major doses of reality. You will fall along the way, you will be discouraged, but you will also have your youth to drive you along the way. And you will learn from every word of discouragement that you hear, and every fall that you will take. But your "Dreams" and "Ambition" can only take you to higher heights than where you are now (hopefully Morally, which is another separate issue with Dreams and Caution), and not down to any lower levels.

 

Looks like I need to throw your own words back to you "You are those type that won't listen to the words of predecessors and have to live life through your own will..."

 

Good night now. This old man needs to sleep already. LOL! :"Vigor and quality of youth" indeed! How I wish so...

 

Yes "Guest",  you must be old with a lot of (bad) experience.  You dreamed BIG, and the only desperate guys who pay you any attention have it so SMALL that they can barely urinate.  You did a few things right and most things wrong.  Your dreams are still great, they make you an omnipotent god.  Then reality kicks in,  and the sad reality of today sinks in,  and you can only find relief by posting anonymously at BW.

[Steve5380]

Yes the expenditure on car ownership is relatively higher than expected.

There is always 2 sets of parking fee - one for home and another at work (assuming you don't get FREE parking).

Above the regular fuel replenishment, loan repayment, road tax and car wash, there is always ad-hoc issues to tackle.

 

Rich food is NOT good food.

You really don't have to spend alot of money (and time) to eat wisely and economically.

 

And how much is put aside for massages and other health treatments, once a month each? 

We go the gym and now, most gyms come with the standard steam room and Jacuzzi, right?

 

I think there are other ways to pamper yourself  - visit Gardens by the Bay..an annual membership is only SGD68 for unlimited visits....just don't get near MBS shopping gallery...

 

The enjoyment of car ownership is highly exaggerated, especially in densely populated areas like SG.  Inability to find a parking space, long lines in traffic in front of unfriendly traffic lights, dealing with unfriendly drivers, and...  keeping the car in good running condition  are all things that only a masochist will enjoy!  

 

There is an optimum level of expense for food.  This is the cost of high quality basic ingredients to cook healthy meals.  This is not a problem except for the very poor.

 

Massages,  health treatments, steam rooms, Jacuzzi?  There is nothing healthy in that.   Health comes from plain exercise of weight training and aerobics.

[Guest WMP]

The enjoyment of car ownership is highly exaggerated, especially in densely populated areas like SG.  Inability to find a parking space, long lines in traffic in front of unfriendly traffic lights, dealing with unfriendly drivers, and...  keeping the car in good running condition  are all things that only a masochist will enjoy!  

 

There is an optimum level of expense for food.  This is the cost of high quality basic ingredients to cook healthy meals.  This is not a problem except for the very poor.

 

Massages,  health treatments, steam rooms, Jacuzzi?  There is nothing healthy in that.   Health comes from plain exercise of weight training and aerobics.

 

This is absolutely the most sensible post that in a nutshell hits the nail on the head, especially the last paragraph.  

[robin]

please look at this. http://www.moe.gov.sg/education/post-secondary/files/ges-ntu.pdf

some fresh uni grad already earning around 4K!! Is it because many people I incapable or what? know of I am male Singaporean, uni grad, 31, earning 4.4k gross monthly. Every year got AWS 1mth, typical variable bonus 2mths. Is this too little??

The data is possible. 5 years ago, the starting salary of a fresh grad who joins Accent*** consulting arm (ERP division) is already getting $3950. Of coz, to be paid such a salary as a fresh grad, you must be able to. 'sing & dance', if you know what I mean.

[Guest Moment]

Interesting topic...

I think based on IRAS report, they say most of the working population pay very little taxes ?

Somehow, I don't quite believe. I'm sure the people at raffles place etc earn at least $7k per month to be able to dress like that...

[onlylonely]

After all deductions and reliefs, chargeable income is low.

But if u based on assessable income then u are right

[darkflame]

In my opinion, those fresh graduates who are earning 4K and above are rare and usually on management trainee programmes.

Being a management trainee, you are also gonna have to network quite a bit in which that extra salary comes in handy.

(And that networking means going for moderate to expensive meals and drinking at bars if necessary.)

As far as I recall, a standard fresh graduate's pay should hover around 2.6K to 3K.

It depends on how much the company values you and also how much you are willing to negotiate with them.

 

My previous salary offer was around 3K for a job with a different view for previous unrelated experience.

So I can probably say that to be around a fresh graduate's pay or slightly lower.

 

IRAS probably compared their taxes to other countries.

Where I am working, I can safely say I pay a lot more tax.

[Guest Guest]

All this terms of "income tax" is just a play of words.

 

Yes, our "income tax" is indeed low. But after you throw in the CPF and also what you have to pay for the GST, your deductibles might just turn out to be higher than that in any other First World countries.

[leibniz]

For the benefit of those who are curious of their position of income level among taxpayers, this data might help. Notice that the data is positively skewed, you should use the median and percentiles as benchmark instead of the mean.

 

 

Raw data: Taxable Individuals by Income Group

[alien]

The data above if refer to median means avg salary here is ard $3k per mth?

[leibniz]

Yes, exactly.

[Guest Guest]

Mean is average.

Median is the middle value of the list.

http://math.about.com/od/statistics/a/MeanMedian.htm

[leibniz]

You're right, Guest. Both are measures of central tendency. But which one should we use?

 

 

When not to use the mean

 

The mean has one main disadvantage: it is particularly susceptible to the influence of outliers. These are values that are unusual compared to the rest of the data set by being especially small or large in numerical value. For example, consider the wages of staff at a factory below:

 

Staff 1 2 3 4 5 6 7 8 9 10 Salary 15k 18k 16k 14k 15k 15k 12k 17k 90k 95k

 

The mean salary for these ten staff is $30.7k. However, inspecting the raw data suggests that this mean value might not be the best way to accurately reflect the typical salary of a worker, as most workers have salaries in the $12k to 18k range. The mean is being skewed by the two large salaries. Therefore, in this situation, we would like to have a better measure of central tendency. As we will find out later, taking the median would be a better measure of central tendency in this situation.

 

Another time when we usually prefer the median over the mean (or mode) is when our data is skewed (i.e., the frequency distribution for our data is skewed). If we consider the normal distribution - as this is the most frequently assessed in statistics - when the data is perfectly normal, the mean, median and mode are identical. Moreover, they all represent the most typical value in the data set. However, as the data becomes skewed the mean loses its ability to provide the best central location for the data because the skewed data is dragging it away from the typical value. However, the median best retains this position and is not as strongly influenced by the skewed values. This is explained in more detail in the skewed distribution section later in this guide.

 

Source: https://statistics.laerd.com/statistical-guides/measures-central-tendency-mean-mode-median.php

[Guest]

From teaching industry about $5 to 6K after Rod.

 

Demise from stomach cancer within 6month.

Treating cancer bill $100k

Exclude other medical treatment.

 

Life saving dry up - he die at the age of 41year old.

 

Point to ponder.

[Blacque]

From teaching industry about $5 to 6K after Rod.

 

Demise from stomach cancer within 6month.

Treating cancer bill $100k

Exclude other medical treatment.

 

Life saving dry up - he die at the age of 41year old.

 

Point to ponder.

 

Health is a valuable asset too. 

[Guest Guest]

I did not expect my post to generate debates with such fervor...but thanks anyway for those who remind me to stay grounded.

For obvious reasons, I would not be sharing how I am going to achieve my dreams but rest assured, no animals or human beings will be harmed along the way.

Techno. geniuses like Mark Zuckerberg and Elon Musk achieved my dreams before they turned 40. (To qualify, they probably did not dream of amassing billions when they first set out to do the things they did.) So yeah, why not dream big? In Singapore, we have been indoctrinated to follow the tried and tested ways of achieving success. We have been reminded and warned of the consequences if we deviate. I have no issues with this but I believe these tried and tested ways can only bring one about 2-3m at most 10-20m but quite certainly not 100m or more. Therefore if one wants to achieve 100m and more, the Singaporean tried and tested ways will not work.

Back to the topic of how much should one earn to live comfortably? 1-2m is sufficient, which works out to be about $7k-$10k per mth....

But 2.8bn is just my dream...if I dun achieve that, it is fine but at least I tried...

"You are those type that won't listen to the words of predecessors and have to live life through your own will,such is the vigour and quality of youth."

It is precisely the vigor and quality of youth that are the qualities which drive young people to pursue their dreams.

Money doesn't born out of thin air.

Although no animal or human r harmed directly from the way we gain our wealth, there will be still certain group of ppl are taken advantaged of or deprived of decent mode of living. It is either the natural resources or human labour got exploited.

[Steve5380]

Health is a valuable asset too. 

 

Not just A valuable, but THE MOST valuable

[nicenewyorker]

I think the words "Living Comfortably" is rather relative as one person may live comfortable at 2k monthly while another may require 20k monthly and still some over 200k.  It all comes down living within your means, spending less than what you have.  If you're making 2k monthly then maybe sharing a HDB room is necessary and those making 20k monthly can probably live in a condo but probably not entire Sentosa Cove Villa with a yacht like those making 200k monthly.  I think average salary per month in SG is around 6k give and take as there are many rich people and poor people here, so probably 6k monthly is mid point and also this is relative to how old you are.  I think those in mid 20s and mid 30s might live comfortably on lot less than those in mid 40s and mid 50s who have higher salaries.

[Guest Abide]

Hi guys..

Is $9K considered a high salary in Singapore huh?

Any idea what is the average salary in singapore?

[doncoin]

Hi guys..

Is $9K considered a high salary in Singapore huh?

Any idea what is the average salary in singapore?

 

I am curious about this too. I was recently approached by a headhunter in Singapore about a potential job opportunity. When he asked me over the phone what my compensation expectations are, I was a little stumped as I am not quite sure what the going rate in Singapore is. 

[azimuth]

You can check out the median income in Singapore at: http://stats.mom.gov.sg/Pages/Income-Summary-Table.aspx

 

At $9K, I am pretty sure you are living comfortably. :-)

[loneglobe]

Hi guys..

Is $9K considered a high salary in Singapore huh?

Any idea what is the average salary in singapore?

2.5 - 3k and not more than that

[leo yok loo]

I will say monthly salary of 25k..

[alien]

2.5 - 3k and not more than that

Average salary here not more than 3k?

[Guest PoorFT]

Ok,

I'm a malaysian fresh grad age 22 came here for a better job opportunity. Earning $2600 a month which im satisfied, at least for now.

$600 goes to room rental

$500 goes to food(hawker)

$150 transport ( bus mrt rarely cab)

$250 entertainments n dining out

$60 cigarrettes

$100 beer allowance

$100 epf in malaysia

$40 round up

Still can save ard $800 each month

So when poor self proclaimed FT like me can do it, I don't see why others can't .

[Anderson]

Ok,

I'm a malaysian fresh grad age 22 came here for a better job opportunity. Earning $2600 a month which im satisfied, at least for now.

$600 goes to room rental

$500 goes to food(hawker)

$150 transport ( bus mrt rarely cab)

$250 entertainments n dining out

$60 cigarrettes

$100 beer allowance

$100 epf in malaysia

$40 round up

Still can save ard $800 each month

So when poor self proclaimed FT like me can do it, I don't see why others can't .

 

I do know many younger Singaporeans who are earning as much as you.

But they usually save nothing while still living off their parents on food, lodging and laundry.

The "better ones" may offer about $300 as pocket money for their parents while some would give almost nothing and still complain "money no enough".

Are there many such people here too?

[Guest Guest]

From teaching industry about $5 to 6K after Rod.

Demise from stomach cancer within 6month.

Treating cancer bill $100k

Exclude other medical treatment.

Life saving dry up - he die at the age of 41year old.

Point to ponder.

Point to ponder also about what if I out lived LKY and dies at 95?

[onlylonely]

Ok,

I'm a malaysian fresh grad age 22 came here for a better job opportunity. Earning $2600 a month which im satisfied, at least for now.

$600 goes to room rental

$500 goes to food(hawker)

$150 transport ( bus mrt rarely cab)

$250 entertainments n dining out

$60 cigarrettes

$100 beer allowance

$100 epf in malaysia

$40 round up

Still can save ard $800 each month

So when poor self proclaimed FT like me can do it, I don't see why others can't .

Cos u dont need deduct cpf

[loneglobe]

medical so expensive? i tot we got world famous $8 heart surgery???

 

Anyway, $800 is not much when you factor in the following: allowance to parent, starhub bill, PUB bill, town council charges and grocery spending, online purchase, sauna and massage etc....

[loneglobe]

I will say monthly salary of 25k..

25k??? must be really some top profession or the oldest profession - sell CB / backside

[leo yok loo]

i thought our MPs all drawing that kind of pay...? Correct me if i am wrong..25k is not a lot... cant even buy a rolls royce..

[7heaven]

i thought our MPs all drawing that kind of pay...? Correct me if i am wrong..25k is not a lot... cant even buy a rolls royce..

 

Our MPs make about $13K a month if I am not mistaken. 

 

25K a month should get you a Rolls Royce if you have about $700,000 cash to pay for the down payment (because of the 50% down payment rule and assuming a Rolls Royce costs about $1.2m to $1.4m). 

 

With a 5 year loan of the remaining $700,000, you'd expect a monthly installment of $13k to $14k.

 

It would not be too unreasonable to expect someone earning $25K a month not to be able to save $700K. Whether they actually make it a point to save that much is another thing; most would have invested this kind of money in property or financial products. So if they are really really bent on getting a Rolls Royce, I suspect they would have to liquidate some of these investments.

 

Long and short - it is reasonable for someone making $25K a month to afford a Rolls Royce.    

[Guest jeff]

No need to earn 25k la.if.u have good looks n body also can own so many "roll royce";p....

[Guest Guest]

$2k is enough if you are:

 

1.  Still a single and stay with parents

2.  Non-smoker

3.  Non-drinker

4.  Non-gambler

5.  Have no one to support

[Guest Foooo]

I'm sorry but buying a rolls royce is senseless no matter how rich u are

[alien]

I'm sorry but buying a rolls royce is senseless no matter how rich u are

If u have the money to burn, why not? Haha.

[Guest foooo]

its just not rational, its an asset that depreciates sharply, far better to purchase real estate which u can consume but doesn't seem to depreciate

[alien]

If u are super rich and have extra money to throw, these pple shld have both as well.

[Guest foooo]

if one is super rich, one should just buy more (or larger - in light of the additional buyer stamp duties) real estate, there is no reason why one would buy a rolls. it is like buying diamonds to scatter into the sea to demonstrate ones wealth when a sprawling house would be equally as demonstrative of ones wealth.

[upshot]

I have taken time off working for a year and I can say it is not hard to live on $1500 per month that included giving 1/3 of that to parent even while not working.

The house is all paid for, no damn maid, 3 rm are aricon, MRT to most places or taxi once in a while, minor medical bill, $50-100 per weekend for entertainment or less if I cycle about. Car are for impressing who when you are not in sales or use the car a lot? Clubbing has no meaning for me anymore even when i was younger. Did it as wild as i like and retire from it. I don't alway eat fancy and eat healthy. Utility is not very high as I share abit of that with married sibling who stay with me and the parents. 2 tier family for life. They no childen and I will hate to married a cunt.

 

I don't entertain tons of phone calls everyday, use my computer and Hicard phone on minimum cal time each month with 30 day data plan at 500gig or home wifi broadband at 15mp ( fibre is a BIG waste since i don't watch local tv at all or share internet )  I say it is NOT hard at all at $1000. Having more earning just means I have more to go holidays, buy something expensive once in a while if I like or just save it and hopefully get to retire a lot early and enjoy a stree free life.

 

Thus I find it extremely strange to see the minimum numbers some people here are stating they need for each month as a human being strip down to the bare essential.

You want to get to the real figure you should strip off all other non essentail first to arrived at a minimum before you start to add all the others non essential stuff or what you considered your social status entitlement to living well or beyond your means.

 

Edited April 8, 2015 by upshot

[azimuth]

I agree. The more you earn the more you tend to spend. Some people spend to be happy, but it does not always equate to happiness always.

 

Sometimes we need to measure out returns based on our expenses incurred. Maybe you want to ask yourself on a particular expense, whether by spending this money, do you achieve the intended effect? If no, you may want to look for cheaper alternatives or strike if off completely.

[302closet]

Smart thing to do is invest now for your retirement.  

 

Whatever the amount you want, savings have to begin now. It is not how rich you are but how much you save.

 

In Sg, dividends and appreciation of equities and asset are tax free.   Other countries will tax you.

 

So be smart and wise w yur investment. Do not invest blindly Get some education just like any subject in school.

[HydroNaut]

Human greed is insatiable. For a rich man earning 25K a month, he might not think he is living in a "comfort" zone yet.

He might think maybe 1 mil a month then he can at least go worldwide travel a week to live "comfortably".

 

If you live within your means and having the basic needs to survive, even earning 2K a month can be a comfort.

[alien]

Very true, if u live within ur means and wht u have on hand, no matter how much ur salary is also can survive comfortably. 所谓知足常乐。

[doncoin]

i think living comfortably will vary from person to person. I think for me personally it means having the financial freedom to do whatever I want, and be able to pay for it without being stressed by the costs. Many factors will come into play on how you spend your money. 

[Guest Guest]

The average salary tht most pple earn is ard 3k or higher?

[Guest Guest]

if one is super rich, one should just buy more (or larger - in light of the additional buyer stamp duties) real estate, there is no reason why one would buy a rolls. it is like buying diamonds to scatter into the sea to demonstrate ones wealth when a sprawling house would be equally as demonstrative of ones wealth.

 

Some people just got tons to squander.  Used to pass by a big house on my way to work everyday.  Big enough to accommodate 5 sport cars inside.  Oh, and the owner loved red colour.