Recent news suggests that Singapore has overtaken Hong Kong as Asia's financial hub. This article delves into the reality of working life in Singapore, exploring salaries, career paths, and the overall atmosphere for professionals.
Exploring Singaporean Salaries
The goal was to understand the financial landscape of Singaporeans. Can everyday people afford to live in this expensive country? The initial approach was direct, offering money in exchange for salary information.
The Challenge of Obtaining Salary Information
Many individuals are hesitant to disclose their salaries, citing confidentiality. The interviewer struggled initially to get anyone to open up.
Salary Insights from Professionals
Despite initial challenges, the interviewer gleaned valuable information about salary ranges in various industries.
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Digital Technology Director: A director in the financial industry, with almost 20 years of experience, revealed a salary range of 10,000 to 20,000 SGD per month. They emphasized the importance of working smart rather than just hard.
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Former Regional Role in Consumer Goods: A woman who recently left her employment mentioned earning 20,000 SGD a month in a regional role within the consumer goods sector. She quit to start her own business, prioritizing purpose over accumulating wealth.
The High Cost of Living
While salaries may be high, the cost of living in Singapore is also substantial. Rent, for example, can reach 12,000 SGD per month.
Diversity and International Environment
A striking feature of Singapore's workforce is its international composition. The interviewer highlighted how Singapore offers a more streamlined process for foreigners seeking work visas compared to Hong Kong.
Experiences of Foreign Workers
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From China, AI Sector: A professional who transitioned from banking to the AI technology sector mentioned earning around 8,000 SGD per month.
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From Angola, Embassy Staff: An individual working at the Angolan embassy discussed their role in economic relations and revealed an income similar to what they would make back home.
The Singapore Stock Exchange (SGX)
The Singapore Stock Exchange is viewed as the heart of the country's financial operations, akin to Wall Street.
Insights from SGX Employee
An employee at the SGX mentioned earning above the median income (above 5,000 SGD). They expressed optimism for future earnings, aiming for "the sky is the limit."
Work-Life Balance and Perspectives
The investigation also touched upon work-life balance and general career philosophies.
Comparing Singapore to Hong Kong
A professional who had worked in both Singapore and Hong Kong noted having more freedom and better work-life balance in Singapore.
Advice for Career Success
A data center manager with 16+ years of experience in Singapore emphasized working smart instead of just working hard. They advised dedicating 70-80% of time to doing a good job, and 30% to helping colleagues and the organization grow.
A Positive Outlook from a Long-Term Office Worker
An office worker of 50 years emphasized the importance of learning, staying up-to-date with the market, and maintaining a positive attitude. Despite being 78 years old, they expressed excitement about going to work every day.