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Median Income Of $3,100

>> Monday, July 5, 2010

In a vision sketched by Finance Minister Tharman Shanmugaratnam at a dialogue organised by the Singapore Business Federation.

He said that the current median income in Singapore is $2,400 per month.

But if Singapore succeeded in remaking the economy and seized opportunities that played to its strengths, the median income will rise to $3,100 in 10 years time.

And after accounting for inflation, the figure will be around $3,800, Mr Tharman calculated.

Comments:

Median income means half of the population earns more than that and the other 50% less than that.

So currently 50% of the population is earning less than $2,400 per month? Some how, it just does not feel that this figure is reflective as most tertiary graduates have a starting pay higher than $2,400.

I wonder what was the median income 10 years ago, because I believe income has not kept up with inflation for the past 10 years. Hence, going forward, how exactly is the increase going to be carried out? Transferring more of the lower paying jobs that no Singaporeans want to do to foreigners?

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