UBS survey reveals Singaporeans are just the 5th highest earners in
the region
By CHEN HUIFEN
( SINGAPORE ) Singapore may be the second most expensive city in
Asia after Tokyo, but employees here are only the fifth highest
wage earners in the region, a study has found.
To indicate wage levels, the UBS survey
looked at how long a person has to work to buy an 8GB iPod nano
player,
In Singapore , it takes 27.5 hours - but in Tokyo it takes 12
hours, and in Hong Kong it takes 19 hours.
On a global scale, Singapore ranked 40th in terms of gross wages,
down two notches from 38th in 2006, the last time the study was
conducted.
In 18th place worldwide, Tokyo workers are Asia's highest earners,
followed by Hong Kong (37th, up from 40th in 2006), Seoul (38th,
down from 32nd), Taipei (39th, from 36th), Singapore , Shanghai
(59th, same as in 2006), Beijing (64th, from 65th) and Mumbai
(73rd, from 67th).
Compiled in a report titled Prices and Earnings, the findings
emerged from surveys conducted in March and April by local UBS
employees, members of student organisation AIESEC, chambers of
commerce, consumer organisations and selected
individuals.
The wage and salary data covers 14 different occupations including
building labourer, engineer, cook, bank credit officer and primary
school teacher. They represent a cross-section of the workforce in
the industrial and services sectors.
Employees in Copenhagen , Zurich , Geneva and New York have the
highest gross wages, in that order. In contrast, the average
employee in Delhi , Manila , Jakarta and Mumbai earns less than
one-fifteenth of Swiss hourly wages after tax.
In terms of cost of living, excluding rent, Oslo remains the most
expensive city in the world, followed by Zurich and Copenhagen .
The prices were calculated based on a reference basket of 122
different products and services. London dropped dramatically to
21st position, from the second most expensive city in 2006.
Singapore was ranked the 24th most expensive globally, up from 32nd
position in 2006.
People in Asia and the Middle East generally spend more hours at
work than those in Europe . On average, Singapore employees work
2,088 hours a year - higher than the global average of
1,902.
'Overall, the most hours are worked in Cairo (2,373 per year),
followed by Seoul (2,312),' the UBS report said. 'Workers in Doha ,
Dubai and Manama also rack up long hours, averaging 2,210 per year
- 308 more than the international average.
'There are significant differences within regions, too. Employees
work considerably more in Hong Kong (2,295 hours) and Seoul (2,312
hours) than in Tokyo (1,997 hours) and Shanghai (1,946
hours).'
The survey was conducted in 73 cities.
my next question is what is the percentage of the
Singaporean work force's salary "fall within the reported
catergory? " vs what percentage of the Singaporean work force's
salary fall below the reported catergory?