Do Degree Holders really earn $8190 Monthly in Singapore?

Sponsor: 📝 POEMS Cash Plus: hmsg.link/poems (5.8%% p.a. Guaranteed Returns for 30 days)
📙 Advanced Credit Card Mastery Course: hmsg.link/accm
☕️ Buy from my Ko-fi shop: hmsg.link/shop
🔭 Telegram Group: t.me/HoneyMoneySG
📷 Instagram @HoneyMoneySG / honeymoneysg
🎵 TikTok / honeymoneysg
📧 Email (Business only): [e-mail]
INVESTING
📈 Interactive Brokers: hmsg.link/ibkr
🐂 Webull Singapore hmsg.link/sgwe...
🐮 Moomoo SG hmsg.link/sgmo...
🐯 Tiger Brokers SG Code HONEYMONEY: hmsg.link/sgtiger
🐬 uSMART Securities Code nn8gx7 hmsg.link/sgus...
💵 ProsperUs Code: HONEYMONEYSG hmsg.link/pros...
📗 Seeking Alpha Premium Offer hmsg.link/seek...
📈 IBSG Sign-up hmsg.link/ibsg
CREDIT CARDS & PAYMENT APPS
💳 Credit Cards Affiliate Links (Singsaver gifts) t.me/sgpromocode
🔎 Google Pay $3 hmsg.link/goog...
💴 Instarem Amaze Code: NhkWBH hmsg.link/amaze
🚌 Revolut SG hmsg.link/revolut
☯️ YouTrip hmsg.link/youtrip
🙏 Trust Bank Code: HUQPC614 www.trustbank.sg
🅱️ BigPay referral KJN6MN5GS0 at bigpay.link/ref...
🚩 Wise hmsg.link/wise
✈️ Kris+ App Code: C647172 hmsg.link/kris...
🧾 DBS Paylah! $5 with code CHRHAF684
😻 Favepay hmsg.link/fave
💰 iPayMy hmsg.link/ipaymy
💳 CardUp Code WAIKITC316 app.cardup.co/...
♾️ Max Card hmsg.link/heymax
LIFESTYLE
🎮 Sony PS5 hmsg.link/ps5
🛍 Lazada hmsg.link/lazada
🛍 Qoo10 hmsg.link/Qoo10
🛍 Shopback $5 Code: caQmJa hmsg.link/shop...
🛍 Aliexpress hmsg.link/aliexp
⭐️ CapitaStar App $5 hmsg.link/capi...
🏬 Lendlease Plus $5 referral code NsHQKY hmsg.link/lend...
🛒 NTUC Union hmsg.link/ntuc...
🐼 FoodPanda hmsg.link/food...
ROBO-ADVISORS
☣️ Syfe Trade & Wealth code: HONEYMONEY @ hmsg.link/syfe
🦉 MoneyOwl Code: 8JPW-62FZ hmsg.link/mone...
🤖 Endowus hmsg.link/endowus
💸 Stashaway hmsg.link/stas...
BUSINESS
💼 Osome Services hmsg.link/osome
🦅 AMEX Highflyer Card hmsg.link/high...
☯️ YouBiz $50 Code: zi94mVNK @ hmsg.link/youbiz
TRAVEL
📳 Airalo Code CHRIS7822 hmsg.link/airalo
✈️ Klook hmsg.link/klook
✈️ Airasia App hmsg.link/aira...
✈️ MSIG Travel Insurance hmsg.link/msig...
✈️ Allianz Travel Insurance hmsg.link/alli...
✈️ Starr Travel Insurance hmsg.link/star...
✈️ TIQ by Etiqa Code R56612 hmsg.link/tiq
🏨 i-Prefer Hotels hmsg.link/iprefer
PROFESSIONAL SERVICES:
🤝 DareToFinance Fin Planning hmsg.link/dare...
🏠 Book a call with Ohmyhome hmsg.link/ohmy...
Disclaimer: The information provided in any affiliate referral or recommendation should not be considered as financial advice. The content is for general information purposes only and does not take into account your personal financial situation, goals or objectives. You should always do your own research and seek professional advice before making any financial decisions. We may receive compensation for affiliate referrals, but this does not influence our recommendations or reviews.
_________________________________________________
#Sponsoredby #PhillipCFD

[@HoneyMoneySG]

Sponsor: 📝 POEMS Cash Plus: hmsg.link/poems (5.8%% p.a. Guaranteed Returns for 30 days) 📙 Advanced Credit Card Mastery Course: hmsg.link/accm ☕ Buy from my Ko-fi shop: hmsg.link/shop 🔭 Telegram Group: t.me/HoneyMoneySG 📷 Instagram @HoneyMoneySG instagram.com/honeymoneysg 🎵 TikTok www.tiktok.com/@honeymoneysg 📧 Email (Business only): [e-mail] INVESTING 📈 Interactive Brokers: hmsg.link/ibkr 🐂 Webull Singapore hmsg.link/sgwebull 🐮 Moomoo SG hmsg.link/sgmoomoo 🐯 Tiger Brokers SG Code HONEYMONEY: hmsg.link/sgtiger 🐬 uSMART Securities Code nn8gx7 hmsg.link/sgusmart 💵 ProsperUs Code: HONEYMONEYSG hmsg.link/prosperus 📗 Seeking Alpha Premium Offer hmsg.link/seekingalpha 📈 IBSG Sign-up hmsg.link/ibsg

[@munster1404]

45 years old. About 20 years experience as a technician in the utilities/oil/gas industry. My last gross pay is about 2.8K per month.

[@Latitube]

Have you look for other job? That is too low by any means

[@munster1404]

@@Latitube Most jobs are around this salary because you can make up by working OT. This is the sad reality for most blue collar jobs. My colleague retire at age 66 hit pay cap of 4K+. I changed jobs only 5 times in total throughout my career. 1 job came with pay increment, 2 jobs slight pay cut (because I sacrifice to gain more experience), 2 jobs pay same salary. You compare to fresh grads who come out can earn 3K+ already.

[@joerodriguez6580]

Do you work in an oil refinery?

[@Mangekyou1100]

Investment bankers in large investment banks (JPM, GS, BAC, CITI) earn 12-15k per month. Base pay. Fresh grad.

[@casemiro3663]

Impossible that the median degree pay is around $8k...its 2023 and there are still degree jobs offering $2.8k -.-

[@sgyogart]

Median is different from average. 3k 3k 3k 8k 10k 10k 10k, median 8k

[@ykangglen357]

Nice speech. takes 8 mins to explain how 8k to be converted into 6k

[@ocswoodlands]

[S*(12+3)+17.5k]/12 = 8.19k. ** 3 month bonus. ** $17.5k employer cpf capped at 6kpm. Thus S = $5.4k monthly pay. That's actually quite low,frankly, for a 44 yo degree holder.

[@fappingfrenzy]

Cpf for bonus is not capped so have to factor that too

[@AndrewHazelleTravels]

That EP criteria doesn’t apply to Malaysian EP holders though. Malaysian can be paid below that and still hold EP

[@Star-008]

My company operates in Singapore but 90% of our workforce are Filipinos, Indians and Malaysians working fully remote in their home country. Their average is just SGD2.2K and we saved on office rental. The idea came about when all our local staff worked from home during the pandemic and we realized that it is really feasible and cheaper this way, and we never looked back since.

[@incognito.alocasia]

Correct me if I'm wrong - median income for degree holders and median age of workers are 2 different things. The middle guy of all degree holders may earn 8,190 p.m. but it doesn't mean that he is 44 years old. 44 years old just means the middle guy of the working population (and here's another area where clarification is required - is it the population of all workers or just degree holder workers?) is 44 years old. Median age doesn't say anything about their income distribution. Hope you can clarify. If you have checked and agree that these are 2 different things, then telling people that they still have until 44 years old (median worker age) to hit the median pay is misleading.

[@incognito.alocasia]

Still waiting for clarification

[@kitsura]

High monthly salary is just a form of golden handcuffs. High hourly rate is more important.

[@LeakyBucketsg]

Minister in SG no need to work still can get 8500pm.

[@zengliren]

I have to disagree to your last few comments. Yes income does not define a person but to the majority of people income determines whether got house to stay or not, so even if they do not want to define themselves by the income, the system defined them. Then it may be true that the nicest people are the cai png aunty in your neighbourhood, but if a rich man come and give the aunty SGD 1 million cash, is she going to still be the same nicest person or not =S

[@Keeferino]

very good thought! sadly there is only so much we can do as a society as the system is basically already "fixed", and the rich will get richer. But maybe, just maybe, it might be different in the far future

[@showerchan6149]

although the society is played by capitalism, but you have a choice not to join the rat race. You have a choice not to define yourself by counting how many houses you own, or even be happy not owning the first one. So the theory how much you earn does not define still stand.

[@leexster]

Great analysis! These big salary figures have been popping up everywhere recently, but most people do not realise that they include CPF and bonuses, and are median-age figures. If you pick apart these figures, you're actually really looking at around 6k basic salary for a 40+ year old university graduate.

[@IamNinjaOfNinja]

nope I can tell you most of my bio science cohort earn less than $4K basic for the past 5 years

[@Skinnypole_clara]

I think he did mention the median age of 44

[@leanne2330]

Of course, 45 yrso at $8k pm is not unreasonable

[@mikegan9382]

Ppl don't count monthly salary one lar, per annum is more accurate because bonus can pump up a lot.

[@bergulatID94]

The first time I hear the number is quite disheartening. But you are right, I havent taken into account the age of the employee.

[@lcldan]

thanks for the video. very interesting.

[@Kooladey]

these values are in sgd and not usd right?

[@joerodriguez6580]

Yes sgd

[@ReinKenobi]

thanks for the breakdown

[@RayMak]

That is a lot of money

[@xfall86]

Nice ending speech

[@b1ind3dsinzZ]

Correction, i believe gross salary does not include variable bonus. 1/12 annual bonus = AWS

[@Mangekyou1100]

Fresh grad, 8.3k. 1 year experience. Banking sector.

[@lycan2494]

lame

[@Mangekyou1100]

@@lycan2494 just sharing. 😀

[@marinekong235]

diploma holders also can earn $15k a month - all depends on you to make the employer see what value you bring

[@holypunk12]

How much salary is enough for singapore if you are paying 3.5k + 1 k for rental and maid alone !!

[@sumit6190p]

About 10-11K.

[@jeremylim51]

After tax 8300 sgd pm

[@kumakuma6237]

Time to migrate live peacefully 😂

[@takanna]

is 8190 before income tax deduction or after income tax deduction?😅

[@ustradingdiary]

Of course Before. Income tax can be reduced like srs. Top up cpf etc. Everyone different

[@Will.i.am55555]

BS 😢😢😢 full time Lucky if you get a starting pay of $3,300 dude With such loaded survey.. no wonder our HDB at sky high prices is deem affordable by our ivory tower ministers 😢😢😢 Our youngsters are not easily smoke by these loaded survey😮😮😮