It is interesting to note that the NWC is recommending wage increment this year up to 4% and most of the posts here have shown to be more pessimistic....
Structurally, we cannot afford to price ourselves out of the international job market. We are twice as expensive as a Malaysian, thrice for Indonesian and Thai. ... But that is before we weight it with a cost of living index.
After factoring in cost of living, we are about slightly better off than the Thais and Malaysians by between 10 - 20%.
Productivity & quality are the buzz words for us in getting more....
From another angle, if the cost of living in Singapore came down, that would also mean a de facto wage increase....
Perhaps for photographers, we could lobby the Singapore Statistics office to include photographic equipment into the cost of living index
....
Wait long long....
I am happy if they addressed the housing, transport components which form
more than half to two thirds of a person's disposable income.
The balance goes to health care, education, and what not.....
BONUS is a strange animal, I remember when Singapore's GDP hjt 10% growth one year not too long ago and most Singaporeans I talked to did not feel
rich in their pockets....Most of it went to the shareholders....Moral of the story? Be a shareholder if you are economically wealthy and be rewarded.
That is risk taking for rewards.
