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19 Apr 2016

Once upon a time, getting a cushy PMET job and rising to senior management was the Singaporean dream. Claw your way to the top of the corporate ladder and you’d be in for a lifetime of cruising around in your Porsche and golfing at the country club.

But those days are gone, and middle-aged, highly-trained PMETs are now first in line for retrenchment at many companies. These people have not only been most affected by the increased spates of retrenchment last year, but are also having the hardest time finding jobs. Many of those who do find jobs take a huge pay cut or end up doing things like driving taxis.

Now, all this might sound awful, but is life really worse for someone who’s been earning $10,000 for the past 10...