How do current incomes compare across different Singaporean age groups?

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Median Real Gross Monthly Incomes Show Significant Intergenerational Differences

Current income data reveals a marked disparity across different Singaporean age cohorts, with younger generations exhibiting substantially higher median real gross monthly incomes compared to their older counterparts when assessed at similar life stages. For instance, full-time workers in their 40s from the fourth generation earned a median income of S$5,900 as of June 2018. This figure stands in contrast to the S$3,500 median income of third-generation workers in their 50s as of June 2009, and the S$2,800 median income of second-generation workers in their 60s as of June 1999.
Fourth-Generation Workers Report Highest Median Income

The most recent data indicates that fourth-generation Singaporean workers, aged 40 to 49, achieved a median real gross monthly income of S$5,900. This income level, recorded in June 2018, reflects their stronger position in the labour market, which is attributed to higher educational attainment and increased access to job opportunities. This group has benefited from significant shifts in the educational system towards technological literacy and continuous skills development.
Third-Generation Incomes Lag Behind at Comparable Age

When third-generation Singaporeans were in their 50s, their median real gross monthly income was S$3,500, as of June 2009. This demonstrates a considerable income gap when compared to the earnings of the younger fourth-generation cohort at a similar age, highlighting the economic progress experienced by successive generations. The third generation, born between 1960 and 1969, had a post-secondary education attainment rate of 49 per cent.
Second-Generation Incomes Showed Lower Figures

For the second-generation Singaporean workers, aged 60 to 69, the median real gross monthly income was S$2,800 as of June 1999. This income level is significantly lower than that of the younger generations, reflecting the economic conditions and educational landscape prevalent during their prime working years. This cohort, born between 1950 and 1959, had a post-secondary education attainment rate of 32 per cent.
Income Growth Observed Across Successive Generations

The data indicates a trend of income growth with each successive generation, even when comparing individuals at the same age bracket. While specific figures for the first generation (70 to 79-year-olds) at a comparable age are not available, the documented increases between the second, third, and fourth generations underscore the impact of economic development and improved educational and employment opportunities over time. For example, the median real CPF balance for fourth-generation workers in their 40s was S$110,100, more than triple that of second-generation workers at the same age (S$36,300).

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How do current incomes compare across different Singaporean age groups?

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