Having Bonus Is Not Important Anymore?

Hi Everyone!

With the recent news about civil servant (government service) mid year bonus of 0.45 months, the topic about bonus raise around my colleagues, friends and bloggers. Certainly this is a good news to civil servant even though the bonus is lesser as compared to last year and some other years (As pointed out by investment Moat - A 0.45 Month Bonus is not the lowest Civil Servant Mid Year Bonus). 

I also believe is quite good considering that there is an increase in retrenchment in Singapore as stated in Channel News Asia WDA sets aside S$28 million to help PMETs pick up new skills. Understanding this situation, government have come out with several measures including setting aside $28 million to help PMETs to pick up new skills and also with the skill future credit which enable working adults to continuously improve their skills so that they can be in higher demand in the market. 

With the fear of retrenchment, most of the people around me are more concern about whether they can protect their rice bow (job) rather than bonus. Some of them even say they rather forgo the bonus in order to protect their job (One of the blogger mention this in one of his post - Year End Bonus). I am fear of retrenchment as well because being retrench is really no joke, especially when you need to support your family and yet to build up enough savings to tide over such exercise.

So with the government initiatives of Skill future and aiming to encourage people to pick up new skills is a good approach because we must always remember that continuous learning is very important, not just for securing a job but also broaden our knowledge. 

So do you agree that in this period, people are more concern about securing their job than bonuses? 

Money vs Passion

Hi Everyone!

It has been a question about money or passion, which one will you go for? When young, most people will tend to go for passion over money. However, as they step into the adult world, their mindset slowly change from passion to money. This is most probably because either their passion is hard to achieve (e.g. pilot, not many people can become a pilot or lawyer, not all people who dream to become a lawyer can become one) or there are some people would want to focus on earning money for their family or for their own entertainment. (Excluding investment or whatsoever, I am talking about jobs)

Yesterday when I was having dinner with my friends and one of them brought up the topic of whether to change job due to the job nature getting boring and wants to go for his passion, however, he got his own concern about the salary might be affected negatively.

One of my friend mention that should go for passion, which is why he gave up his previous job to search for the job that he is passionate about. However, my stand is different from him as I am getting married soon, and money and stability is quite important so which is why I support on the money portion.

My conclusion

However, I can see that not many people going for the job that they are passionate about when I talk to other groups of friends, because from the way I see, most people hope to earn more money so that they can achieve financial freedom to do whatever they want. This is the indication that they don't really passionate on their job. Because if they are passionate, the won't be thinking about retirement before the retirement age, rather they will work until or exceed their retirement age. 

This is the conclusion that I have come up with, what about you? What do you think?