SINGAPORE: A local Reddit user sought advice, and perhaps some empathy, on how to increase their earning power. At present, they are taking home around S$2,300 each month.
In a post on the r/askSingapore subreddit on Sunday (Oct 26), u/potatoepotata asked those who are earning S$3,000 a month before CPF, “How’s life for you?”
The post author said that they’ve been working for a year at a job that pays S$3,000 before deductions, and while they live frugally, they wrote that “it’s difficult to save a substantial amount of money when your earning power is low and everything pinches you.”
Moreover, they added, “Low-key finding a partner or housing in the future seems impossible too.”
They aim to find a job that pays S$3,500 a month, and then eventually scale up to S$5,000, “but it just feels quite out of reach.”
They added, however, that they are thankful to have a job amid the challenges of the current market, but really feel that they need to find a way to earn more, and asked if anyone else on the platform is in the same boat.
Reddit users commenting on the post offered a number of suggestions with useful advice, including rarely buying new clothes or eating at restaurants.
A commenter who earns the same amount as the post author advised them to “just find another job to supplement. Rather than to wait for a promotion and pay increment, which barely moves anything, I think finding a second job would boost your income faster.”
For this commenter, doing deliveries is their side gig.
Another shared, “Ten years ago, when I first started working, gross pay was around 2.6k. Now 10 years later, my pay is only 3.7k lol. I changed industry from aerospace to semiconductors now. To get 5k, I really need a degree cert, which I don’t have.”
However, another Reddit user advised: “Started with that, kept my expenses to the minimum, no drinking, no smoking, no partying, BUT I didn’t save on food. I ate what I liked and what was decent; I didn’t starve myself to save a couple of dollars. Every month, I was able to keep half of my earnings and put it into investments ETF.
“Over time, you will move up your career ladder and make more. The real challenge is keeping your expenses the same. I still don’t smoke, drink, or party, but other expenses have crept in. But the rule is always to keep 50% of your net income.”
As for another, the post reminded them “of my first job in 2015, which only paid me $2,100. But now I’m earning a 6-figure annual package.
“My trick: setting aside 10 per cent of my salary to enrol in courses to upgrade my skills. And dedicate time every day to study. Painful but necessary if you want to earn more.”
“In Singapore, the name of the game is to keep job hopping for salary boosts. Your initial contract signing with companies is going to be the pay increase you are looking for. Don’t expect any salary boosts from the company you are currently working at,” wrote another. /TISG
Read also: Fresh uni grad says a S$5k starting salary is ‘ridiculous unless you are in a very specialised role
