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 How much should a guy earns per month?, When they reach 30

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jchong
post Apr 1 2008, 10:00 PM

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QUOTE(Goliath764 @ Mar 23 2008, 01:31 AM)
Honestly speaking not much ppl can earn 10K when they reach age 30, this thread is so fake...
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Earning 10k by 30 is difficult and rare but not impossible. But let's talk about a more realistic scenario first:

1. Start working age 22 with salary of 2.5k.
2. Assume annual increment around 6%
3. After 8 years by age 30, salary would only be around 4.1k

Of course if you job hop, say twice in that 8 years, the figure could be up to 4.5k - 5k. I believe a majority of people fall in this category.

Is it possible to earn more? Yes, and I'll give example of something I know about, i.e. lawyer with a medium/big firm in KL.

1. Start working age 24 with salary of 2.5k (lawyer would start later since need to do CLP and chambering)
2. Increments are much higher. In one place, the increment structure some years back was 500, 500, 900, 900, and higher...
3. So by 30, salary would be around 7k - 7.5k

10k by 30 is really exceptional...
jchong
post Apr 1 2008, 10:13 PM

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QUOTE(love-angel @ Mar 26 2008, 09:10 PM)
well, he's earning 4k now at age 24. I expect him to reach at least 10k by 30. Otherwise not enough to pay housing loan and insurance etc...
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Whether a certain amount of salary is enough or not depends on the lifestyle and comforts you want to have.

I know a lot of couples in KL surviving on 6k - 8k combined income by the time they are 30 (they will mainly be semi-professionals). But it's not a luxurious lifestyle. Will have one car each, probably Proton. A basic 2-storey house or condo (maybe even renting). Frugal with monthly expenses, but may indulge in something (e.g. travel, etc) maybe once/twice a year.

The reality is living in KL is quite expensive.
jchong
post Apr 1 2008, 11:17 PM

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QUOTE(gunh @ Apr 1 2008, 10:43 PM)
earning 4.6k(basic) now... if OT "kau" then exceed 5k... and i'm very optimistic to break rm5k basic before i reach age 30
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Good for you! Hope you achieve your goal.
jchong
post Apr 2 2008, 08:51 AM

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QUOTE(purpleglitz @ Apr 1 2008, 11:28 PM)
the world now is fair between girl n guy..
it doesn't mean tat guy must earn money n girl stay at home do all the housework n take k of the child only..  smile.gif
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True, women nowadays have equal opportunity to work and pursue a career.

However, one part that is unfair is that many women who work also do a majority of the house work and child caring (this part is usually not 50/50 share by the men). That means nowadays the women are superwomen, work plus do majority of house work and child care.
jchong
post Apr 2 2008, 03:39 PM

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QUOTE(kirlcheah @ Apr 2 2008, 01:16 PM)
I agree. I am 26 now and earning 21k a month. I also left malaysia and work overseas.
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For those working overseas you can't convert and compare to people in Malaysia. Of course your earning (converted basis) would be much higher than locals.
jchong
post Apr 2 2008, 08:40 PM

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QUOTE(goldfries @ Apr 2 2008, 06:14 PM)
if reading this thread gives you pressure, then you really have to examine your thoughts / mindset. smile.gif

don't be influenced by it. just go with the flow and do your best to manage your finance and career.

don't let others set the standard for you.
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Not disagreeing with you, but I do think such comparisons can be healthy if taken from the right perspective.

Comparisons will bring more awareness of what is possible out there. Allows you to know if you're being paid fairly (or being exploited/underpaid). Gives you some motivation to do better (or switch to a better company).

It's well and good to say "do your best" but if there is no reference sometimes it's hard to say if a person is really doing well or just thinks he is doing well.
jchong
post Apr 3 2008, 04:35 PM

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QUOTE(Liuism @ Apr 3 2008, 04:20 PM)
i dun earn as much as u guys..
but i just wanna learn and work oni...
up until now... rclxub.gif
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I suppose if you want help on how to move ahead you can always ask here and people will offer advice.
jchong
post Apr 11 2008, 06:59 PM

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QUOTE(Greybear @ Apr 11 2008, 06:25 PM)
Thanks for ur opinion smile.gif  I think the case 1 u mentioned above will only applied after I get married next year(really thinking of getting a baby only after a year of marriage). Anyhow, my bf is not a senior manager YET, but going to be, perhaps next year after he had finished getting his certs and trainings.

What we agreed on is, most of his saving will be gone(house renovation, furniture, wedding expenditures, honeymoon and etc) after married, therefore my saving will served as emergency need. And we'll save again, let say 50k a year(luckily car & house loan has paid off, but no travels within this period for sure sad.gif). After ard 2years(1st baby is born), at least we got 100k family fund as back up...

By then, I'll quit my freelance job to take care of the baby, will only resume after the 2nd baby is born (this might take me at least 3-5years)... Within these years, family expenditures will solely depend on him, kinda worried if he remains his ranking and never get promoted. After 5years ard25k/mth but after tax and EPF deduction left RM16k/mth only yawn.gif(tat's y we might register a company to "run off" tax since I'm a freelancer, he can be my sleeping partner icon_rolleyes.gif well risky I know...). High maintainance on children is very obvious nowadays, what I've planned is I afford my own expenditures with my saving even with zero income in tat 5years period...By excluding a women spending I believe he could gives our family a comfortable life, of coz, there are still little saving tongue.gif
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Since you've paid off home and car loan, even at present salary level and based on 1 income I'm sure can be comfortable. For living in KL, say family with 2 kids, monthly expenses are probably around:

Groceries/sundries - 1200
Outside food - 800
Petrol - 300
Maid - 450
Utilities - 300
Misc - 500
Total = 3550

Still got plenty leftover for entertainment, savings, insurance premiums, kindergarten, etc.
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