374,000 Singaporeans earn S$10,000 per month or more. Here’s who they are and what they do.
Michael Petraeus
2 days ago
Disclaimer: Unless otherwise stated, any opinions expressed below belong solely to the author. All data comes from the Singapore Ministry of Manpower.
We all know the median income figures for the Singaporean population, but, like every average figure, it’s a bit meaningless for most, because it includes a broad range of people, including the elderly, the young, and those just entering the workforce or those leaving it.
Hence, let’s focus on figures that most Singaporeans would consider aspirational—a professional target in life that’s not obscenely high, but high enough that most could realistically dream of achieving them.
Like a nice, round S$10,000 per month (excluding employer’s CPF).
Nearly one in four Singaporeans makes six figures per year
Around 24% of full-time employed residents take home around S$100,000 per year. And close to one in five (18%) make S$120,000—or S$10,000 per month.
This amounts to 373,700 people, to be exact, out of the 2.067 million residents working at least 35 hours per week.
Who are they? Where do they work? How educated are they? Does entrepreneurship pay more than employment?
Let’s take a look, starting with the basics: occupation. Which industry pays the best?