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SINGAPORE: One Singaporean whose dream is to earn a five-figure monthly salary recently took to Reddit to ask whether \u201chitting S$10k\/month salary is out of reach.\u201d<\/span><\/p>\n Sharing his career journey, the young man revealed that he studied marketing at one of Singapore\u2019s \u201cBig Three\u201d universities, a decision he now looks back on with more than a little regret.<\/span><\/p>\n \u201cHorrible choice, I really regret it and I recently transitioned into public sector,\u201d he wrote, adding that he now earns S$5,000 a month in a completely different role.<\/span><\/p>\n While he said he was grateful to have made the career switch, he admitted that doubling his salary to S$10,000 feels almost impossible.<\/span><\/p>\n Seeking perspectives, he asked, \u201cWhat age did you guys hit S$10k\/month? It would be good if you could answer: what kind of job you have, private\/public sector, how many years of experience you have, your starting pay and what university you graduated from (if it still matters in this day and age\u2026)\u201d<\/span><\/p>\n Many Reddit users said earning S$10,000 a month is certainly achievable, but added that it is much more common in industries such as technology, finance, and oil and gas.<\/span><\/p>\n One shared, \u201cI also thought S$10k was an impossible dream when I started out; I couldn\u2019t believe it when I got the offer for about that amount! Thought I\u2019d misheard haha. I was fortunate enough to secure a tech role at an asset manager (finance) for just over S$10k. I was from a local university, if that matters.\u201d<\/span><\/p>\n Another wrote, \u201cIf you look around, the most common are tech and finance. Oil & Gas is also well paid. Devs are usually quite well paid, especially those working in banks. I recall seeing a few posts with them hitting almost S$10k with low YOEs.\u201d<\/span><\/p>\n Others said the quickest way to reach a five-figure salary is by changing employers every few years.<\/span><\/p>\n One engineering graduate said, \u201cIf you want to climb fast, outside of law, medicine, finance, and similar fields, you need to jump around a few times, with a bit of luck.\u201d<\/span><\/p>\n He shared that he had switched jobs four times, growing his salary from S$3,100 to S$10,500 in just four years.<\/span><\/p>\n While earning S$10,000 a month may feel unattainable to many, recent figures suggest a sizeable number of Singaporeans have already reached that milestone.<\/span><\/p>\n According to the Ministry of Manpower (MOM),<\/em> around 24% of full-time employed residents earn about S$100,000 a year, while roughly 18% earn at least S$120,000 annually, which works out to S$10,000 a month.<\/span><\/p>\n That translates to around 373,700 people out of the 2.067 million residents.<\/span><\/p>\n The largest group of S$10,000-a-month earners works in the Financial and Insurance Services<\/em> sector, with about 86,800 workers. Wholesale and Retail Trade<\/em> comes next with 47,500 workers, followed by Public Administration and Education<\/em> with 44,700.<\/span><\/p>\n Read also: <\/span>Singaporeans are sharing the little acts of kindness that meant the world to them<\/u><\/span><\/a><\/p>\n<\/div>\n\u2018You need to jump around a few times\u2019<\/span><\/h2>\n
How common is a S$10,000 monthly salary?<\/span><\/h2>\n