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Anonymous
As mentioned in the title, I would like to know if there are benchmarks on how much one should be earning at different life stages. (I understand it varies across different industries, experience etc)
P.S. I'm in my early 30s going mid, and drawing around 60k p.a. with no side hustle
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Cryotosensei
02 Apr 2023
Blogger at diaperfinancingfund.blogspot.com
Fidelity Investments recommend that one has three times his annual income by the time he turns 40
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Depends on your industry and job. most importantly to ensure it is sufficient for your needs.
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Hi
It depends on your industry to a large extent.
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Depends on the job you have isn't it? Varies so much across different occupation...
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Information Based on Ministry of Manpower, Jobstreet, and Payscale:
25-30: The estimated average salary for a 25-year-old in Singapore is around SGD 2,600 to SGD 3,500 per month, while the estimated average salary for a 30-year-old is around SGD 3,500 to SGD 5,000 per month.
31-35: The estimated average salary for a 31-year-old in Singapore is around SGD 4,500 to SGD 6,500 per month, while the estimated average salary for a 35-year-old is around SGD 5,500 to SGD 8,000 per month.
36-40: The estimated average salary for a 36-year-old in Singapore is around SGD 6,500 to SGD 9,500 per month, while the estimated average salary for a 40-year-old is around SGD 7,500 to SGD 11,000 per month.
41-45: The estimated average salary for a 41-year-old in Singapore is around SGD 9,000 to SGD 13,000 per month, while the estimated average salary for a 45-year-old is around SGD 10,000 to SGD 15,000 per month.
46-50: The estimated average salary for a 46-year-old in Singapore is around SGD 12,000 to SGD 17,000 per month, while the estimated average salary for a 50-year-old is around SGD 13,500 to SGD 20,000 per month.
As you’ve mentioned, varies from different industries and so forth.