21 April 2014

People Who Earn More Than $100K Per Annum

I have been hanging around at salary.sg for a while, particular this thread titled "How much are you earning per annum?" If you briefly go through you'll find that there are plenty of high income earners here in Singapore earning between $100K to $500K per annum and they have multimillion dollars worth of assets. And while you are going through the thread, you'll find that there are people who called these high earners liars, I can only say these high earners are at a different level, we haven't reach there yet so naturally we find it hard to believe.

In the past when I was working as a warehouse assistant earning around $1.4K a month after including overtime pay, I met an IT manager who was earning $2.5K a month, I thought that was a lot of money, more than twice my basic salary of $1100, I found it unbelievable. Later I heard that my store manager was earning $3K a month and she received 3 months bonus from the company and I thought that was a lot of money too, 3x3000 is $9000, I was thinking how many months do I have to work to earn that kind of money.

Now my own basic salary is $3480, if I met the old me and told myself I am earning this amount, the old me wouldn't believe it, because the old me haven't reach my level yet. And there are some people my age earning $4000 or more a month, I have a property agent friend who sells new launch condo, one unit he gets a cut of $30K to $40K. So now if you tell me there are people earning $100K or $500K or even $1M a year, I believe, my project manager should be earning more than $100K per annum, he is a senior project manager so I guess $8K or more a month is possible, I heard project managers in banks earn more than $10K a month.

And so far we are only talking about employed salary, for people with a successful business, a few hundred thousand dollars of income a year is possible, I have a friend who drives different car every time I see him, he is doing a family business and I heard it was very successful in the past few years, he is living in a 5-room HDB flat and also investing in condo as I heard from his property agent friend, if he doesn't earn that much then how is it possible for him to achieve all that?

But seriously, now I'm thinking when I will earn $100K per annum, with higher salary comes greater responsibility, just look at my project manager, first man in last man out, meaning he is usually the earliest to arrive in office and the last to leave the office, always attending to his emails, there was once when I took a glance at his laptop screen, there were 2000+ unread emails, how the heck is it possible to get that much unread emails, not sure if my eyes were playing tricks on me because I worked quite late that night, but I know he is in charge of several projects, I think about 9 or more projects, some he is directly in charge, the rest he is the overall in charge.

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