Background: I am a diploma holder in my late 20s with 2 years of experience in healthcare engineering field and currently pursuing a PT degree. I recently received an offer from a MNC. Package details are as follows.

Package details: Gross monthly salary of $4.3k+ inclusive of transport allowance(which is CPF deductible). Standard office working hours from 8.30am – 5.30pm, Monday to Friday.

Flexi Cash benefit of $2.5k per annum credited directly to bank account. 13th month given and annual performance bonus of 1-2 months. Company medical insurance included for all employees (Outpatient, in-patient and specialist amongst others).

Continued: Earlier this year, I came across a salary guide in Singapore that the median income for Singaporeans is $4.8k/month for males in 2021(not sure if it’s true).

Though what I am offered is more than what I am drawing currently, does this mean that I am being low-balled considering that it’s now 2022 and I am still offered <$4.8k??

A part of me wants to negotiate for a better package but ironically, I am afraid that if I attempted to negotiate the salary package, this offer will go to the other candidates in line after me.

But then again who would accept this offer when it’s way below the market rate of 4.8k sgd as reported right? I seriously hope employers in Singapore can compensate potential employees fairly amidst the rising cost of living and inflation.

PS: I hope to gather feedback if such offer is considered reasonable to the general public before deciding on my next move. Thanks.

Netizens’ comments

• 4.3k for dip holder is considered very good already..what more you want
• Diploma holder in late 20s. This pay is very good already, isn’t it?
• The median may be taking the incomes of different walks of life, some with many years of experience and from different industries.
  How do u think your 2y experience is compared to the median years of experience working in sg? More or less than the median?
  On the internet, no one knows your situation or your industry. Better places to compare are Glassdoor or indeed for company review and salary range.
  On whether to negotiate, you may want to consider if the company’s offer is sincere. It gives you a sense of the people and culture, which are a lot more important in the long term development with the company.

I am an insurance agent. So many negative and hilarious posts about my job. Thought I’ll offer another perspective to some people who are considering joining.

My credentials: I am under 30, in this line for years, quarter-million annual taxable income, MDRT and all the other awards, blah blah blah….

1. Do not underestimate the privilege of having no liabilities & responsibilities.

I joined this line at 21, and only needed to take care of myself financially. This means I could afford to earn only $12k a year back then while building my career slowly and organically. Treating every day working as a learning opportunity rather than being super despo to close the sale. Those desperate to close the sale usually fail because consumers are not idiots. Then it becomes a vicious cycle, no sale = no money = more despo. Trust me, you will earn like shit the first few years. That’s normal. Those “successful”, “young” agents that earn money “fast” are liars. There are so many dirty tricks in this industry to con the consumers. If you know you know.

Literally get good at money.

So many agents only call themselves “investment specialists” but can only sell their companies’ ILP. That’s bulls… I know so many junior agents that do not even have a brokerage account and whatever issues the client has, ILP will always be the answer.

While you are earning like shit, you should invest your own money and be legit good. Attend courses like CFA, CFP, ChFC, Certified Private Banking etc and APPLY the knowledge learnt. Do your own investments, talk to doctors to be aware of medical trends, be extremely familiar with all the different hospitals processes. Personally, I have certain qualifications and run my own investment holdings company, hence clients trust my advice more than some XMM in a LV bag talking about why her ILP is the best.

3. Network like f***.

Consumers can buy insurance online and this trend will increase in the future. So what is the agent’s value proposition? I am the problem solver. Need some free legal advice? I can set up an informal dinner with my lawyer clients. Need a medical appt soon, I can bypass the long waiting time and set one for you within 3 days. Need to divorce your spouse? I know many private investigators and dirty tricks to increase your chances of winning. Need car mechanics and workshops? I get kickbacks from the shops and pass it to you as a form of savings. Need renovators and interior designers? I know people. Wanna get a job in IB (JP, UBS, Morgan Stanley etc), I know people, lemme set up a lunch. This network is exclusive to paying customers only, not even my extended family or friends have access to it, unless they are paying customers. The more the customers pay, the more priority you get in my network. So, it becomes a bidding war among customers and it makes good business sense.

That’s all. You can earn a lot in this career, but it is all blood sweat and tears. Young naive people also quite dumb ah, you think can just suka suka earn $100K fresh out of school, with no qualifications meh? There is always a price to pay, hope this enlightens people out there.

Maybe I shall do a confession exposing how agents appear successful? and churning practices? hahahahaha

I am so torn. I have been comparing myself with others in terms of salary.

And I understand usually a guy have better progressions for reasons like NS. I graduated from NUS BBA 6 years ago. Got into a supply chain job that pays me 3k initially, it took me so much effort to get paid 6k now but somehow my surrounding friends who graduated with me are sharing that they are getting 8 to 10k already.

Not just that, they have their investment portfolio and its paying them 5k per month extra. I tried trading crypto and stocks as well, even day trading only pays me $200 per day max.

I mean what the hell? Am I falling from the curve? How are they doing that? Can someone please share some salary advices?

Here are what netizens think:

• Don’t compare la. There is no end to comparison… The 8k person will think the 10k one earns more… The 10k one will think the 15k one earns more… No end la. Just give yourself a pat on the back. At least, you have a job.

• Not everything that is said to you is real. As much as you want to impress others, there are others who can blow a big bull at you.

• Use your earnings to buy a copy of “The Psychology of Money” by Morgan Housel and you will realise the comparison never ends, unless you choose to stop comparing.

I’m a quant trader, with annual income above 300k. The funny thing is

I make absolute zero contribution to the society.

I make mathematic model to trade stock, coin, etc. buy low, sell high. Just that. I do not make any products, provide any service, or run any business, zero. I simply play cards with the market, and happens to be on the winning side.

I rarely even work, just once in a while update my trading model and let the computer run. The rest of my time is spent writing motivational bullsh*t on Facebook.

Yet, people usually look at me as a successful person with great admire. They often come to me for investment advices.

And I laughed real hard (internally of course). Why such a useless person like me is being valued so much? I think it is because of people’s greed. Everyone wants to get rich without having to work hard, “let the money work while you rest”, right? So, people keep pouring their hard-earned money into the market, and I just simply need to take it from them.

I live a comfortable life now, but quite meaningless. Should I quit and do something more useful to the society? Please don’t tell me to start an investment course, I don’t want to draw more people into this “comfortable but useless” lifestyle. Somebody has to work.

Here are what netizens think:

• By trading you paid commission and by that you enable the platform you are using to profit, then enable them to feed the employees of that platform. By doing your job, you indirectly fed hundreds or thousands of employees. Moreover, by declaring income tax, you also contribute to nation building. By purchasing items for basic food and drink consumption and other needs or wants, you pay GST, you also contribute to nation building. Technically, as long as you do your part, you are already contributing to Singapore, you can always do more and volunteer to donate money, or do volunteering work.

• “please don’t tell me to start and investment course” – of course not seeing as u know jack about trading, investment or ML, think you just spend your time at MBS’ baccarat table better lah, betting on probability like the gambler you made yourself to be up there lol

• Your spending contributes to the economy and creates jobs. Isn’t what the people always say?

After all the BTO sagas: I’m from a relatively rich family and my parents die die don’t want me to BTO.

They said they will buy me a condo down-payment under my name and I need to pay the loan using my grad salary.

Roughly estimated I need around 4k+ a month! Feel so stressed now what to do. Ps. I am in SoC and I indeed am in here for money.

Here are what netizens think:

• Parents pay for you down-payment u still kpkb, spiked brat mentality.

• You already say your parents rich mah, worse come to worse they can tah for u

• You are worrying too much the sky falls down your parents will hold it for u.

• Nabei most people stress cannot pay down payment you stress this. Wah piang.

• 4k a month mortgage or salary? Btw, banks will only lend you up to a multiple of your salary as part of credit risk mitigation. It’s unlikely they will allow you to take up a mortgage >50% of your monthly salary. What this means is that your parents will have to pay the difference in cash to offset the loan quantum…

I guess this is kinda a rant/advice post?

I’m really lost right now. I’m currently a fresh poly grad whos looking to go to an overseas university for my Bsc Hons.

I wasn’t able to get in a course I liked in a local uni. Also, I’m not a Singaporean so whether or not I study here or abroad is pretty much the same cost for me.

My dad is a Grab driver and my mom isn’t around at the moment. After going to the bank to get a study loan, my dad was found to be ineligible to sign as my guarantor as he doesn’t earn much. Apparently for the overseas loan which I am enquiring for requires someone earning at least $7k-$8k/month to sign as my guarantor.

During my poly studies, I’ve worked 2-3 jobs to support my family financially and to keep a roof over our heads. I manage to earn more than my dad and honestly, I was able to make ends meet with a sufficient amount in savings. But now, the stuggle to get a loan dropped like a bomb on me. I’m really starting to feel that no matter how hard I work, I’m always going to have financial problems. Because i was so work oriented during my poly years, I don’t have much time for friends.. so now, I’m really struggling to find someone who earns $7-8k/month to sign as my guarantor and get this study loan for me as I dont have any other Singaporean/PR relatives here in Singapore.

Taking a gap year is an option, but I would really want to get my studies over and done with quick so that I can fully focus on my career afterwards. Also, even if i were to take a gap year, I still wont be able to save up enough for my further studies any time soon so I’ll end up needing a bank loan anyways. The uni course offer is quite a good offer as well.. it’s one of the top 8 universities in the UK and with my poly grades, I am able to cut in as a Year 2 student for this 3 years course. (So overall a 2 year duration of studies for me, and for hons, so I really dont want to let this opportunity slip)

Sucks to be poor i guess.

I have a regular in geylang whom I used to visit regularly. Lets call her Desiree. Since the crisis hit, I have not met Desiree for the past 2 years.

As you may know, the economy is very badly hit, especially the service sector. Desiree is struggling with her finances as well. She recently approached me to ask if I could loan her some money, which she would repay at 10% interest by the end of this year.

As it so happens, my joint account with my GF has an additional $600 x 2 = $1.2K from the government resilience budget which is currently just sitting there doing nothing.

Should I loan Desiree the $1.2K? 10% return is very good given the current economic climate. Also, risk is minimal: Desiree definitely has the earning power to repay the money, and I know the address where she lives and works so debt collection is not an issue.

Here are what netizens think:

• We are not your gf. You should be asking her since it’s a joint acct with her.

• If she has more than x number of regulars and for every regular she say the same thing, after with all the collection from these x number of regulars…
• She can go back to her own country and count her money and laugh at the stupidness of these people who believe her words…

• Yes, its a very good investment, you should probably loan her 12k