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Thread: wage inflation set to send Singapore into another inflationary spiral

  1. #1
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    Default wage inflation set to send Singapore into another inflationary spiral

    Marine workers basic pay to go up

    http://www.businesstimes.com.sg/prem...ister-20120822

    NTUC to increase pay for non-executive staff

    http://www.channelnewsasia.com/stori...203318/1/.html

    Singapore banks fear talent exodus in 2012

    http://www.icpas.org.sg/mediacentre/...aspx?artid=318

    doctors/nurses to get pay rise up to 20%/17%

    http://www.sgh.com.sg/about-us/newsr...etpayrise.aspx

    Town council cleaners get huge pay rise
    http://www.channelnewsasia.com/stori...184114/1/.html
    Last edited by phantom_opera; 22-08-12 at 10:17.
    Ride at your own risk !!!

  2. #2
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  3. #3
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    Quote Originally Posted by phantom_opera
    Marine workers basic pay to go up

    http://www.businesstimes.com.sg/prem...ister-20120822

    NTUC to increase pay for non-executive staff

    http://www.channelnewsasia.com/stori...203318/1/.html

    Singapore banks fear talent exodus in 2012

    http://www.icpas.org.sg/mediacentre/...aspx?artid=318

    doctors/nurses to get pay rise up to 20%/17%

    http://www.sgh.com.sg/about-us/newsr...etpayrise.aspx

    Town council cleaners get huge pay rise
    http://www.channelnewsasia.com/stori...184114/1/.html
    i think regardless of industry, it's always a worry if your top performers are being poached. not just banks and financial industry leh.. somemore now so many lines are being chopped (apart from insurance, actuarial and compliance risk), dont think the inflationary wage spiral will positively impact the real income of the back office folks plus entry level/junior staff.

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    Yup it's only for the thin layer and maybe some the fortunate civil servants aka nurses, teachers, those flavour of the year.

    I know of some who's net income is lower ...less commission or stagnant pay. These have less tradeable skills or not that in demand - these rot.

    Quote Originally Posted by Vincegoh
    i think regardless of industry, it's always a worry if your top performers are being poached. not just banks and financial industry leh.. somemore now so many lines are being chopped (apart from insurance, actuarial and compliance risk), dont think the inflationary wage spiral will positively impact the real income of the back office folks plus entry level/junior staff.

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    Quote Originally Posted by gn108
    Yup it's only for the thin layer and maybe some the fortunate civil servants aka nurses, teachers, those flavour of the year.

    I know of some who's net income is lower ...less commission or stagnant pay. These have less tradeable skills or not that in demand - these rot.
    yeah, i've a feeling this is not going to be that great a year for most (me included). somemore nowadays most financial firms dun offer 13th mth... maybe need to eat grass liao.

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    That's why we are here bro ...landlordy ourselves to test ever higher rents to keep pace with inflation...

    The truth is if you go just for enough early in life, you'll end up rotting/eaten up. The key is to always have 'one in the bag' ...more than one property, more cash than you need to survive and more than one source of income.

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    Quote Originally Posted by gn108
    That's why we are here bro ...landlordy ourselves to test ever higher rents to keep pace with inflation...

    The truth is if you go just for enough early in life, you'll end up rotting/eaten up. The key is to always have 'one in the bag' ...more than one property, more cash than you need to survive and more than one source of income.
    hands (and legs) up on your latter statement.. it's always impt to have diversified revenue sources; be it rental, coupons, dividends or royalties..

    me too newbie in ppty liao.. so here to learn from all the gurus before even daring to contemplate having more than 1 ppty.

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    Quote Originally Posted by Vincegoh
    yeah, i've a feeling this is not going to be that great a year for most (me included). somemore nowadays most financial firms dun offer 13th mth... maybe need to eat grass liao.
    serious, most financial firms do not offer even 13th month (AWS)?!
    Ride at your own risk !!!

  9. #9
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    Then bro, read the older postings as well...lots to get your head wrapped around...but also use your own judgement - some of the postings are totally not serious.

    Good luck bro and please don't eat my lunch...

    Quote Originally Posted by Vincegoh
    hands (and legs) up on your latter statement.. it's always impt to have diversified revenue sources; be it rental, coupons, dividends or royalties..

    me too newbie in ppty liao.. so here to learn from all the gurus before even daring to contemplate having more than 1 ppty.

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    Quote Originally Posted by gn108
    Then bro, read the older postings as well...lots to get your head wrapped around...but also use your own judgement - some of the postings are totally not serious.

    Good luck bro and please don't eat my lunch...
    thanks bro... will dig into archives to read some of the gems from some of the past masters (who seemed to have disappeared after some iras scandal previously?)..

    i eat your leftovers lah... live n let live.

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    Quote Originally Posted by phantom_opera
    serious, most financial firms do not offer even 13th month (AWS)?!
    yeah, i think it's not that commonplace for MNCS from europe or north america? this far, all the companies i worked for (plus my wifey) boh 13th mth AWS leh...

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    Quote Originally Posted by Vincegoh
    yeah, i think it's not that commonplace for MNCS from europe or north america? this far, all the companies i worked for (plus my wifey) boh 13th mth AWS leh...
    I think local banks still got contractual AWS
    Ride at your own risk !!!

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    Quote Originally Posted by phantom_opera
    I think local banks still got contractual AWS
    yeah, one of my staff who used to work for DBS said she has AWS.. some jap firms offer AWS too.

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    Quote Originally Posted by Vincegoh
    yeah, one of my staff who used to work for DBS said she has AWS.. some jap firms offer AWS too.
    except contract staff. But some FT have found a loop hole. Start up a new company n go into the company as a consultant n cliam 2 yrs tax free status .

    that's way better then AWS

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    Rental as a component of CPI up 6.4pc relative to July 2011
    Ride at your own risk !!!

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    Default now is teachers' turn

    Pay rise for educators: MOE

    In a press statement, the MOE revealed that changes to the salary packages for educators were made to attract, retain and develop a quality school team

    The Ministry of Education (MOE) on Friday announced that more than 26,000 in-service Education Officers (EOs) and about 500 Allied Educators (AEDs) in several grades will receive a salary adjustment with effect from 1 September 2012.
    The adjustments were made to ensure that salaries of EOs and AEDs keep pace with the market and commensurate with their roles and responsibilities.
    The serving EOs in various General Education Officer (GEO) and Senior Education Officer (SEO) grades will receive an 8 per cent salary adjustment. GEOs and SEOs can expect an increase of up to S$550 and S$830 respectively to their gross monthly salaries.
    The AEDs in various grades will receive salary adjustments ranging from 5 per cent to 15 per cent. Allied Educators can look forward to an increase of up to S$700 in their monthly salaries.
    Ride at your own risk !!!

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    this kind of things taxpayers dont make noise?

    if top and bottom salary ratio is 100x.
    increase bottom salary from 1000 to 1200, absolute increase of 200.
    top salary increase from 100,000 to 120,000, absolute increase of 20,000 (100x).

  18. #18
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    Teacher (GEO) earns up to 6875pm??? wow must be very old bird ones

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