What Is A Good Salary For A Family Of 4 In Singapore?

Is 120k a good salary in Singapore?

Overall, I would say that you are in a very favourable position to make a good decision for yourself and your family.

As mentioned earlier you salary is well above the singapore median..

What salary is considered rich in Singapore?

You see, in the US, if your household income is $250,000, you are in the top 5%. But in Singapore, it is now much more commonplace at 13.5% (>$20,000 per month), from just 6.4% 10 years ago.

Why are engineers paid so little in Singapore?

When this occurs, many SMEs will depress the wages of engineers to maintain their competitiveness. … SMEs make up 90% of the companies in Singapore even though they employ half the workforce. This means that the SMEs decide the average engineer’s pay in terms of the average pay across companies more than MNCs do.

What is the cost of living in Singapore for a family of 4?

It is common knowledge that the average cost of living in Singapore is high. For a single person in Singapore, their average expenses (excluding rent) are around 800 SGD (575 USD) per month. For a four-person family this is significantly higher: around 4,400 SGD (3,200 USD) a month.

Is 7000 SGD a good salary in Singapore?

IS 7000 SGD is enough to live in Singapore? … Average salary (GDP per capita) was ~5200 SGD last I read. So 7000 from that perspective seems to be fine. Philosophical answer would be – you can be content with anything and unsatisfied despite having everything depending on your mindset.

What is a good salary in Singapore 2020?

As of Jan 2020, the average salary in Singapore is S$5,783 per month. For full-time employed Singapore residents, the Median Gross Monthly Income from work, including employer CPF contributions, is S$4,563.

What is considered rich in Singapore?

Those who may be considered “crazy rich” – ultra high net worth individuals who hold more than US$50 million (S$68.9 million) in wealth – number about 1,000 in Singapore, a 1.1 per cent increase, said Credit Suisse.

How much is rent in Singapore?

Paying Guest Rent for a room in a private apartment in prime districts such as East Coast, River Valley and Chinatown costs approximately S$800 – S$1,800. Monthly room rental in an HDB flat can range anywhere between S$500 to S$800 depending upon the location and size of the room.

Is 10k a good salary in Singapore?

10k SGD is sufficient for family of 3, consisting of you, your child & your spouse. … So is 10K sgd sufficient? i would say yes, it’s more than enough, your salary itself also exceed the median gross household income at 8–9k.

What salary is needed to live comfortably in Singapore?

You should budget at least $700 to $1,500 a month if you’re renting, and $1,500 to $3,000 a month if you’re a Singaporean/PR buying a home and eligible to purchase HDB property.

Is 8000 SGD good salary?

8000 is more than enough. average singaporean graduate at 27 is making only 3500 if you are lucky, and 3000 if you are unlucky.

What job makes the most money in Singapore?

Top 15 Highest Paid Jobs in SingaporeChief Information Officer/Chief Technology Officer. … Securities and finance dealer/Broker. … Marine superintendent engineer. … Policy and planning manager. … Treasury Manager. … Financial/ Insurance Services Manager. … IT Service Manager. … Compliance officer/Risk analyst (financial)More items…