As Occupational Wage data are based on aggregates of similar jobs, they can only serve as a guide for expected wages of individuals, given that wages are determined by prevailing market conditions and no workers and jobs are totally alike. For example, jobs may differ in scope, responsibilities, requirements and working environment and not all workers have the same skills, productivity and innate ability.
Commonly used for salary benchmarking, data on Occupational Wages do not include bonuses, which are more closely linked to performance of the individual and establishment. Hence, the wages for occupations, where performance-based bonuses constitute a significant portion of total wages, would be lower than expected. Examples of such occupations are brokers, dealers and senior management staff.
Data on Occupational Wages are shown for the latest available year. The Occupational Wage data may not be comparable over time, due to changes in composition within the occupational group, depending on the sample of establishments that responded to the survey. For instance, if the sample captured more lower-paying occupations within a broad occupational group, this may depress the wage level for that occupational group. Similarly, a large increase in new entrants without prior work experience into a specific occupation may weigh down the wage level for that occupation.
The occupations of the CPF contributors were coded based on the job titles provided by their employers. This may result in lower wages for certain occupations, especially those requiring managerial or professional qualifications, when a significant number of contributors without the necessary qualifications (and earning less than their suitably qualified counterparts) were given such titles by their employers.
The Occupational Wage data presented are for full-time employees only. This provides a more meaningful basis for comparison of wages across occupations.