Thursday, October 16, 2008

Average Pay of Singaporeans

I was told by a multi-millonaire at a seminar that in Singapore, if one earns below $2,500 per month, he will be considered technically poor.

When I looked at this MOM site on the average monthly pay of Singaporeans, I was surprised at the figure: $3,690 (as at 2nd quarter this year). This figure was even higher: $4,316 at 1st quarter this year, the drop was without a doubt, caused by the global economic gloom.

When I look at the footnote, I realised the figure of $3,690 was derived from those contributing to CPF and excludes the non-CPF contributors.
However, the rich in Singapore are really rich, with 66,600 millionaires with a net worth of US $1 million liquidity excluding housing, thus I will not be surprised if the average pay of ALL Singaporeans is even much higher than $4 K.

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