Survey shows S'poreans would take 42% pay cut | Jorbb.com

If they lost their jobs, Singaporeans on average think they would be able to cope without their main source of income for eight and a half months.

In survey findings that the Institute of Policy Studies (IPS) hopes will guide the future calibration of social support for retrenched individuals, it was noted that younger people and the lower-income would be less resilient. For instance, there were more in their 20s and 30s, than in the older age groups, who would be able to cope for only up to six months.

Eight in 10 respondents would rely mainly on their personal savings.

But while just 31 per cent would step out of their comfort zone to take on any job, tellingly, respondents were on average willing to take a hefty 42-per-cent pay-cut in their next job, should they lose their current one (though the pain threshold for lower-income respondents was far lower at 34 per cent).

Very few people (5 to 7 per cent) would turn to the Government or welfare agencies for help; more (28 per cent) prefer the support of friends and family.

These findings, gathered from 817 Singaporeans and Permanent residents in mid-February, showed that Singapore residents were on the whole a fairly resilient lot, said IPS senior research fellow Gillian Koh. The study is the first of a series to study the perceptions of policies in Singapore.

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