From young, my parents taught me that we work hard for food – like the farmers, like the fishermen. To be successful in life, we work hard. If I had my own child, I would probably have redefined what success means. I would have preached that hard work only earns you (in most cases) a decent living. To be successful, the first thing to do is to forget about working hard. Only then you have time to think and to act out of the norm. I wish I have studied economy instead.
I may not know much about economy. But I have experienced diminishing marginal returns today. Lunch. One colleague of mine wanted to take a train to Bugis Junction for a change. Another one wanted a burger meal. We headed to Bugis and I felt for my “burger-loving” colleague. So after I had a full chicken rice set, I turned to him and asked …
“Burger?”
His eyes lit up. The group of four headed to McDonald’s. My “burger-loving” colleague and I each ordered a chicken burger. We finished. I asked …
“Burger?”
His eyes lit up. And both of us headed to the counter and ordered another S$2 burger. We finished. I kept quiet. Another colleague of ours said …
“Let’s have one round of burger for the four of us!”
By the time I had my 3rd burger, I have experienced diminishing marginal returns.
After lunch, I could not focus. My blood has gone to somewhere but my brain. Our intern stepped in and announced that our bank has offered him a job starting next August.
“Congratulations!” I screamed in excitement.
Then I learned that the starting pay for a fresh local graduate for the graduate program is close to …
S$4k a month
FOUR THOUSANDS DOLLARS?! Then another colleague of mine told me that according to the newspaper, one fresh graduate joins an investment bank for S$12k. Couples of years back, some graduates couldn’t even find a job. It’s all about timing.
Ignorance is bliss. Too bad you are reading this blog entry.
I know our Singapore’s Straits Time Index (STI) is hitting 4000 soon. But seriously, where does all the money come from? One friend of mine with a working capital of S$300-400k has generated S$100k profit from the stock market in 1 year. As a hobby. And he has a full time job.
Not everyone benefits from the stock market nor the very company we join that has the double-digit growth has something to do with our pay increment. My next topic? The landlords.
My favorite news-stand at Far East Square was used to give me a discount of 50 cents for magazines less than S$10 and 1 dollar otherwise. Always. These days I seldom see the two staff who used to sit outside, whom I mingled often. This evening, the boss was outside. I was sure that he wouldn’t give me a discount.
And he didn’t.
But we had a great chat. His landlord is increasing the rent from S$6k to S$9k by April next year. That is a 50% increase in rental. Can he pass that to the consumers? Probably not. No one is going to pay a CLEO magazine for S$6.60 instead of S$4.40. He has already got rid of one of his staff (S$1k salary) and gave his another staff a S$200 rise to cover the extra work. But he is going to close down his shop because of high rental. Sad. As I do love his magazine collection. He is not seeking other places because the rental is as bad. The shop next door of his has already changed hand four times. For a S$9k rental. The previous owners each lost 6 months of deposit.
Economy going strong but yet, shops like my favorite news-stand has to retrench staff and close down. Huh?
Hard work does not pay off but I do respect those who work hard. Like one cashier at Cold Storage. I asked if she has her dinner and she told me that she lives in JB (Malaysia). By the time she reaches home, it is 11 at night. 2 hours it takes for her to travel to home. Then she will eat and start another day, early.
I still don’t know where money comes from. But I am certain that you can’t get rich by merely working hard.