DEGREE HOLDERS WON’T EVEN EARN ENOUGH TO PAY FOR RETIREMENT, FAMILY

This is the real life sad story of a Singaporean guy who is 31 years old now.

Completed his diploma in accounting & finance from poly at 21.

ORD at 23.

Work from 23 to 30 years old as accounts assistant. Jobs not suitable so he end up job hopping during these 7 years & changed many jobs.

Salary between these jobs range from 1.5k to maximum $1950.

From 29 to 30 years old he took a part time degree in hr that is completed in 1 year so he can switch to do hr jobs after that.

So at 30, he found a hr job that pay him $2040.

Company benefit and increment is very lousy. Every year increment at most $50 to $60 nia. Even you get promoted, increment also around $80 to $100 nia (inclusive of the annual increment amount) so its no point hoping for promotion.

Company benefit very losuy. Bonus only give 1 month, no benefits and activities, chinese new year and christmas eve also work full day never give half day etc.

He try to find new job but cannot find as hr jobs is mostly want to hire young pretty girls than a guy.

This is his plan for the future.

1. Stay in this company till retire. 1 year get $60 increment so at 40 years old his salary will be $2640, at 50 years old his salary will be $3240, at 60 years old his salary will be $3840

2. In the event that he get retrench he will probably have to find part time, contract or temp hr jobs and hope got ppl resign than he can convert to perm staff.

Or he can find those security guards, retail, waiter jobs etc

He is lucky that he is single, parents have enough savings for retirement so he only support himself so 2k a month is still enough

Sad right?

S.X.

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