TanshyhtsairAccording to the Ministry of Manpower’s Report on Labour Force in Singapore, the median monthly income for full-time employed residents in Singapore was about SGD 5,000. This figure includes employer CPF contributions but excludes bonuses, stock options, and other lump sum payments.
For someone to achieve finance independence, it is important to have a job so that can exchange our human capital for money. The industry that has the highest median salaries in Singapore is the Information & Communications sector, followed by Finance & Insurance, and Professional Services.
For Information & Communications, some common job qualifications required to get a job include a degree or diploma in Computer Science, Information Technology, or a related field, as well as relevant experience and skills such as knowledge of programming languages, software development, and network infrastructure.
For Finance & Insurance, qualifications such as a degree or diploma in Finance, Accounting, Economics, or Business Administration may be required, as well as professional certifications such as the Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA).
For Professional Services, qualifications such as a degree or diploma in Law, Engineering, Architecture, medicine, or a related field, as well as relevant experience and certifications may be required depending on the specific job.
Therefore, as a young person, try to pursue your interest and gain a qualification and experience in the area of work. It is the foundation to create wealth.
