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Dec 8, 2009
3rd highest spending power
<!-- by line -->By Fiona Chan, PROPERTY CORRESPONDENT
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Globally, managers in singapore rank 27th in terms of disposable income. -- PHOTO: SPH
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MANAGERS in Singapore have the third-highest spending power in Asia, behind those in Hong Kong and Thailand, according to a new survey released on Tuesday.
Globally, they rank 27th in terms of disposable income, which is the money they have left to spend after taxes.
The study, done by global management consultancy Hay Group, also found that the income gap between managers and clerical staff has widened only slightly over the last three years.
In 2006, Singapore managers earned 4.9 times what their lower-paid clerical staff made. This gap dropped in 2007 to 4.7 times, but grew again this year to five times. Still, the pay gap is much smaller and more stable in Singapore than in most other countries in Asia, said Mr Victor Chan, Hay Group Singapore's country manager for reward information services.
China has the largest income gap in this respect, with managers earning 12.6 times the pay of their clerical staff, according to the report. The gap has also grown significantly over the years: in 2006, it was 10.5 times.
On the other end of the spectrum are Japan and Korea, which have smaller pay gaps than Singapore. Japanese managers earn just 3.4 times what their clerical staff do, while the pay of Korean managers is 4.1 times the pay of their clerical employees.
<TABLE border=0 cellSpacing=0 width="100%"><TBODY><TR><TD class=heading>Latest comments</TD></TR><TR><TD id=messageDisplayRegion width="100%"><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>According to the UBS Study "Price and Earnings 2009", Singaporeans have a purchasing power comparable to Malaysia and is much lower than other Asian Tigers. The fact that "managers" have high purchasing power just goes to show the disparage in the income gap. I hate it how Singaporean journalists and politicians are always comparing Singapore with "other Asian countries" when most "other Asian countries" are either third world or developing. How about comparing with the best first world countries, not the worst?
What's the point in calling Singapore a "first world country" if you're always comparing with lousy numbers from third-world/developing countries? Can I hear you say "propaganda" and "misinformation"?
Source:
http://www.temasekreview.com/2009/08...tigers-part-1/
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3rd highest spending power
<!-- by line -->By Fiona Chan, PROPERTY CORRESPONDENT
<!-- end by line -->
<!-- end left side bar -->
<!-- story content : start -->
MANAGERS in Singapore have the third-highest spending power in Asia, behind those in Hong Kong and Thailand, according to a new survey released on Tuesday.
Globally, they rank 27th in terms of disposable income, which is the money they have left to spend after taxes.
The study, done by global management consultancy Hay Group, also found that the income gap between managers and clerical staff has widened only slightly over the last three years.
In 2006, Singapore managers earned 4.9 times what their lower-paid clerical staff made. This gap dropped in 2007 to 4.7 times, but grew again this year to five times. Still, the pay gap is much smaller and more stable in Singapore than in most other countries in Asia, said Mr Victor Chan, Hay Group Singapore's country manager for reward information services.
China has the largest income gap in this respect, with managers earning 12.6 times the pay of their clerical staff, according to the report. The gap has also grown significantly over the years: in 2006, it was 10.5 times.
On the other end of the spectrum are Japan and Korea, which have smaller pay gaps than Singapore. Japanese managers earn just 3.4 times what their clerical staff do, while the pay of Korean managers is 4.1 times the pay of their clerical employees.
<TABLE border=0 cellSpacing=0 width="100%"><TBODY><TR><TD class=heading>Latest comments</TD></TR><TR><TD id=messageDisplayRegion width="100%"><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>According to the UBS Study "Price and Earnings 2009", Singaporeans have a purchasing power comparable to Malaysia and is much lower than other Asian Tigers. The fact that "managers" have high purchasing power just goes to show the disparage in the income gap. I hate it how Singaporean journalists and politicians are always comparing Singapore with "other Asian countries" when most "other Asian countries" are either third world or developing. How about comparing with the best first world countries, not the worst?
What's the point in calling Singapore a "first world country" if you're always comparing with lousy numbers from third-world/developing countries? Can I hear you say "propaganda" and "misinformation"?
Source:
http://www.temasekreview.com/2009/08...tigers-part-1/
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