This document summarizes the results of a survey of 1,001 individual contributors in Hong Kong and Singapore. It finds that most ICs have 10+ years of work experience and are at various life stages, including paying for children's education and purchasing homes. ICs earn a median monthly income of $33,334-$41,666 in Hong Kong and $4,167-$6,249 in Singapore, and half save 21-30% of their income. Most ICs plan to purchase big-ticket items like smartphones and travel by air in the next year. Many also plan to obtain financial products like mortgages and retirement accounts. ICs commonly use credit cards for purchases in categories like dining, travel and retail.
6. 6
Individual contributors (ICs) are not just recent college
grads, many have had full careers
5%
7%
20%
24%
15%
11%
18%
0%
5%
10%
15%
20%
25%
30%
Singapore + Hong Kong
Less than 1 year
1 year - less than 2 years
2 years - less than 5 years
5 years - less than 10 years
10 years - less than 15 years
15 years - less than 20 years
20 or more years
On average, an IC has 10+
years of work experience
7. 7
ICs are going through all life stages
3%
6%
8%
10%
4%
13%
7%
27%
2%
10%
13%
4%
11%
14%
17%
24%
29%
18%
15%
24%
23%
16%
30%
18%
0% 10% 20% 30% 40% 50% 60% 70% 80%
Pay for children entering college/university
Get married
Pursue a post-graduate degree
Pay for children entering school
Have a baby
Change careers
Purchase a home
Change companies
Within next year
Within next 1-2 years
More than 2 years from now
69%
54%
43%
38%
38%
36%
34%
34%
9. 9
ICs are making good money
7%
8%
10%
7%
8%
6%
10%
30%
12%
0%
5%
10%
15%
20%
25%
30%
35%
Monthly Income in Hong Kong (HKD)
$12,499 or less
$12,500 - $16,666
$16,667 - $20,833
$20,834 - $24,999
$25,000 - $29,166
$29,167 - $33,333
$33,334 - $41,666
$41,667 - $83,333
$83,334 - $249,999
$250,000 - $499,999
$500,000 or more
0% 0%
The median monthly
income for ICs in
Hong Kong is between
$33,334 - $41,666
10. 10
ICs are making good money
9%
12%
17%
19%
11%
14%
11%
5%
2%
0%
5%
10%
15%
20%
Monthly Income in Singapore (SGD)
$2,083 or less
$2,084 - $2,916
$2,917 - $4,166
$4,167 - $6,249
$6,250 - $8,333
$8,334 - $12,499
$12,500 - $16,666
$16,667 - $24,999
$25,000 - $41,666
$41,667 - $83,333
$83,334 or more
0% 0%
The median monthly
income for ICs in
Singapore is between
$4,167 - $6,249
11. 11
ICs like to both spend and save their money
61-100%
61-100%
51-60%
51-60%41-50%
41-50%
31-40%
31-40%
21-30%
21-30%
11-20% 11-20%
1-10% 1-10%
0% 0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% of income into
savings
% of income for
discretionary spending
%ofICs
Half of ICs
are saving at
least 21-30%
97% of ICs
are putting
some money
into savings For half of ICs,
21-30% or more
of their income is
for discretionary
spending
13. 13
ICs are spending their money on “big ticket” items
37%
35%
28%
26%
21%
19%
15% 15%
0%
10%
20%
30%
40%
Smartphone Luxury retail
goods
Laptop
computer
Tablet Car Television Printer Desktop
computer
79% of ICs plan to purchase
at least one of these big
ticket items in the next year
Plan to purchase in the next year
14. 14
ICs are traveling by air
7%
54%
30%
5% 4%
0%
10%
20%
30%
40%
50%
60%
0 trips 1-2 3-5 6-10 >10
93% of ICs plan to
travel by air in the
next year
Plan to travel by air in the next year
15. 15
ICs are in the market for financial products
17%
16%
14% 14%
13%
12%
8%
6%
0%
5%
10%
15%
20%
Mortgage Property, home,
or auto
insurance
Retirement
account
Personal loan Credit card Life insurance Checking
account
Savings
account
57% of ICs plan to get at least one
new financial product in the next year
Plan to get in the next year
16. 16
ICs are using credit cards for purchases on
travel, retail, entertainment, & dining
0% 20% 40% 60% 80% 100%
Dining
Entertainment
Retail
Travel
% of ICs
Always
More than half the time
About half the time
Less than half the time
Never
For all categories, 67%+ of ICs* use
credit cards more than half the time
*out of those with a credit card
17. 17
IC Purchasing Habits
74%
would listen to a
colleague's
recommendation on
which consumer
product or service to
purchase
67%
would use a social
network to find
information about a
consumer product or
service they want to
purchase
40%
say it is worth the
extra cost to have the
latest consumer
technology products