PMETs In Singapore Will Earn $3M To $5M From Lifetime Employment

[SOF67]

I graduated in 1987 with a B.Sc degree in Engineering from NUS/NTU

My first job with AT&T, starting pay $1,920

After 2 years with AT&T I joined Hewlett Packard as a Quality & Reliability Engineer for a few hundred dollars more a month

After 2 years with Hewlett Packard, I joined Caltex as an Assistant Quality Manager with a significant pay jump to $3,200 a month with guaranteed 3 months bonus

In total I was employed for 16.5 years before I was retrenched in Feb 2004, age 42, last drawn pay $8,340 a month

My retrenchment benefits after 12 years with Caltex/Chevron was around $250K including pension

My total employment income for 16.5 years as a PMET employee was around $1.2M including my retrenchment benefits

If I had been able to remained employed until PAP's retirement age, my total income likely around $4M to $5M based on the income of my colleague my age still working after he got retrenched same time as me in 2004

 

[mojito]

So PAP is pretty good right? Made u rich? That is even before we discuss how ur residence has appreciated. More money without effort.

 

[laksaboy]

Good for you. But not sure why you're here telling us your life story.

 

[SOF67]

Good for you. But not sure why you're here telling us your life story.

not my life story, am not dead yet.

 

[mojito]

not my life story, am not dead yet.

Did u leave out the interesting parts, or is your life as dull as it sounds?

 

[syed putra]

Guy making a assumption.

 

[hollowman]

That was what he made but he didn't state how much he spent and how much he left as a pmet. I earned half his income I.e 1.5 to 2mil but I saved 1.69mil .

 

[hollowman]

More importantly is how much time he think he has left with rather than how much he had earned his lifetime. That is the main difference between money and time.

 

[red amoeba]

Have you calculated how much you would have earned if you have been in US or Europe ? Have you wondered why you ended up retrenched at 42 ? Who replaced you ?

 

[Splendicker]

The catch is he worked 12 years in an oil refinery firm, it can only be 1/3 overall if he stay put in electronic trade.

 

[mojito]

The catch is he worked 12 years in an oil refinery firm, it can only be 1/3 overall if he stay put in electronic trade.

Industries that in fashion at the time, they were electronics in the 80s, semi conductors in the 90s, banking in the naughties, information technology in the teens. I wouldn't be surprise some thing new cums up and up roots what ever is out of fashion at the moment. May be that is yours if u r suay u get the pink slip. Forget private sector. All ways find government work. Work for the PAP, and u will never have to lament about the chickens that did not hatch.

 

[maxsanic]

I graduated in 1987 with a B.Sc degree in Engineering from NUS/NTU

My first job with AT&T, starting pay $1,920

After 2 years with AT&T I joined Hewlett Packard as a Quality & Reliability Engineer for a few hundred dollars more a month

After 2 years with Hewlett Packard, I joined Caltex as an Assistant Quality Manager with a significant pay jump to $3,200 a month with guaranteed 3 months bonus

In total I was employed for 16.5 years before I was retrenched in Feb 2004, age 42, last drawn pay $8,340 a month

My retrenchment benefits after 12 years with Caltex/Chevron was around $250K including pension

My total employment income for 16.5 years as a PMET employee was around $1.2M including my retrenchment benefits

If I had been able to remained employed until PAP's retirement age, my total income likely around $4M to $5M based on the income of my colleague my age still working after he got retrenched same time as me in 2004

Wow, so you have been unemployed for 18 years!?

Considering your total earnings before retrenchment was only $1.2M, I reckon your savings would amount to only $600k tops? How did you survive till now? Was it through smart investments?