12 Oct '11, 9am

Does higher education equal to higher pay?

Does higher education equal to higher pay?

I refer to the report “Median income of Singaporeans up 11%” (see HERE ). It states: “Singapore has one of the highest employment rates internationally and the median income of workers also increased 11 per cent in real terms, over the past 10 years”. This means that the real increase per annum of the median wage was only 1.2 per cent, which is quite low. Since the median is half the workforce, does it mean that about a fifth of workers had zero or negative real wage growth in the last 10 years? The report also said, “income for households at the bottom 20th percentile grew only 8.1 per cent in real terms, or 34 per cent in nominal terms”. It’s rather odd that household income is highlighted in the narrative instead of the real wage for the bottom 20 per cent of workers. In fact, at the 20th percentile, the real annualized wage growth was 0, and the cumulative growth from ...

Full article: http://theonlinecitizen.com/2011/10/does-higher-education...

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