SINGAPORE: A Reddit user appeared to be concerned as to what constitutes a “high” salary in Singapore, asking if the pay of $100,000 is “reallly such a life-changing figure?”
“Have heard so many people saying as though earning 6 figures is a huge achievement and the magical break in their career,” wrote u/LiveLaughLovesg on Tuesday (June 13) on r/askSingapore, adding that he himself doesn’t earn this amount.
There is not, after all, one definition of what a high, and what a “high salary” is, as this is subjective and depends on each individual’s perspective.
However, a high-net-worth individual (HNWI) is someone with investable assets over $1 million, and an ultra-high-net-worth individual (UHNWI) is someone whose investable assets are over $30 million.
Commenters on the post were encouraging.
“Regardless of big or small it’s always good to celebrate mini milestones along the way,” wrote one.
Another had this take: “Imagine u get 20+% increment from previous job and now earn over 100 k. Means u have 20+ k more spending power per year. Is it life-changing? To a certain extent, yes. Pretty much no issue with a few new big-ticket item per year or Europe holiday, etc. But if u grew up in a well-off family, it’s chicken feed.”
“At 100k, you earn enough to have a limited amount of luxury, assuming you’re supporting yourself and paying a BTO mortgage,” a commenter opined.
Another offered his own set of parameters
One warned, however, that higher wages are a “treadmill.”
“When you make less, you just want a roof over your head. When you make slightly more, you think condo would be nice. And when you make even more, you want landed. It’s nice to have aspiration, but don’t make that your only goal in life. Easy to say, hard to practice.”
/TISG
Expat offered $6,000 salary in Singapore wants to know what type of lifestyle he can expect