US Expat looking for salary advice

[TY83]

Hi everyone,

Just relocated to Singapore from the US and signed my contract when exchange rates were at 1.25ish USD/SGD. My salary was basically the USD equivalent at the time converted into SGD. Now we're around the 1.4 range with no end in sight in terms of USD strength...Guessing 1.5 will happen soon.

Overall taking to a 12% pay cut (not factoring tax "benefits"). Is there anything that you can do to offset this? Chat with HR? Valid point to the boss?

Would love some feedback and advice.

All the best

[hotandhumid]

Hello TY83,

I think the chance of a wage renegotiation is slim. Suppose the FX had moved in reverse, would you expect them to impose a pay cut? Also, most HR wage policies work on market consistency and they would be resistant to breaching their scales - your salary would be at least in line with the Singapore market, perhaps even pushing it when they translated your US one over.
Finally, you are in most cases financially better off here than in the US on the same wage - so don't think to pull out the tax-equalisation argument.

The only time I can imagine such a salary review being warranted is if you are an established high-flyer within the company, with a great track record, and whom they cannot do without.

Look at it this way - if your present wage affords you some excess, then any increment is only going to bring you marginal satisfaction. I suggest to try to keep a positive outlook about things, be positive to the people around you, and make the most out of this new role. These are things that money cannot buy.

Regards
H&H

[PNGMK]

Hi everyone,

Just relocated to Singapore from the US and signed my contract when exchange rates were at 1.25ish USD/SGD. My salary was basically the USD equivalent at the time converted into SGD. Now we're around the 1.4 range with no end in sight in terms of USD strength...Guessing 1.5 will happen soon.

Overall taking to a 12% pay cut (not factoring tax "benefits"). Is there anything that you can do to offset this? Chat with HR? Valid point to the boss?

Would love some feedback and advice.

All the best

Perhaps but not likely - the counter argument will be that your costs are in SGD so why should it matter? I have previously argued for an adjustment (one off many years when I was paid in USD and the SGD was climbing) for FX losses but the boss was not happy. If you go in, make it clear that this is a one off adjustment request.