Singapore Expats Forum

Advices on my package?

Discuss about getting a well paid job or career advancement. Ask about salaries, expat packages, CPF & taxes for expatriate.

Nopainnogain06
Newbie
Newbie
Posts: 3
Joined: Sun, 14 Feb 2016

Advices on my package?

Postby Nopainnogain06 » Sun, 14 Feb 2016 5:46 pm

Hi all,

I have been an active reader of this forum but this is my first post as I'd like to get your advices on the package that I've been offered.

More abt me:
I work in EU for a big company in shipping
I'm in my 30s, married with 2 small children
Position offered: sales director South Asia
Contract: Local with relocation package
Package: S$24K/month (including 8k for housing and car) meaning S$288K/year
Bonus: 30-40k/year on top
Yearly salary: more or less S$325K/year
Relocation package: 1 week home search trip + max 60 days temp living + moving of household included - door to door service (No max volume but usually 1 container) + signing bonus of S$45K net + return tickets home for the family (1 a year for 2 years only)
Health care: insurance in case of hospitalization included + reimbursement Doctor up to S$100 each time We go
Vacation: 25 days

I was told that this type of package was good especially given the current economy (sadly more and more ppl are leaving Singapore).

What do you guys think? :D

bgd
Editor
Editor
Posts: 1203
Joined: Wed, 25 Jul 2007

Re: Advices on my package?

Postby bgd » Sun, 14 Feb 2016 9:43 pm

I don't know your industry but you will be able to live very well out here on that package. Depending on the age of your kids your biggest cost will be education.

PNGMK
Director
Director
Posts: 4896
Joined: Thu, 21 Mar 2013

Re: Advices on my package?

Postby PNGMK » Sun, 14 Feb 2016 9:54 pm

That lines up pretty much where I would expect for that sort of job. Sort your tax affairs out in your home country to minimize or eliminate taxes back homes so you can save as much as possible.
I have gay, black, Asian friends and then JR8.

Nopainnogain06
Newbie
Newbie
Posts: 3
Joined: Sun, 14 Feb 2016

Re: Advices on my package?

Postby Nopainnogain06 » Sun, 14 Feb 2016 10:16 pm

@Bgd: my kids are 1.5 years old and 3 months old so still in kindergarten. The cost will be pretty much equivalent to what it is home
@pngmk: thanks for the advice. My company is actually organizing a tax exit meeting with EY so I don't expect any issue there

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Re: Advices on my package?

Postby JR8 » Mon, 15 Feb 2016 1:07 am

Nopainnogain06 wrote:I work in EU for a big company in shipping
I'm in my 30s, married with 2 small children Position offered: sales director South Asia
Contract: Local with relocation package
Package: S$24K/month (including 8k for housing and car) meaning S$288K/year
Bonus: 30-40k/year on top Yearly salary: more or less S$325K/year
Relocation package: 1 week home search trip + max 60 days temp living + moving of household included - door to door service (No max volume but usually 1 container) + signing bonus of S$45K net + return tickets home for the family (1 a year for 2 years only)
Health care: insurance in case of hospitalization included + reimbursement Doctor up to S$100 each time We go. Vacation: 25 days
I was told that this type of package was good especially given the current economy (sadly more and more ppl are leaving Singapore). What do you guys think? :D


On the face of it that's a tasty package although of course one never knows quite what package a person is moving from. Either way, you can live well on that by just about any measure (IMO).

Good to see an element of 'Home leave [flights]', and routine medical costs, as IME it's hard to visit a local doctor/GP in SG and for it to cost less than $100.
Your children are of an age where 'serious' school fees might not come onto the horizon during your tenure. Will the children stay at home or be sent out to daycare or kindergarten?
$8k for housing + car. That might sting if you say live in town back home and drive a Porsche/Merc etc. Even the lease on a Suzuki Swift might cost you say S$2k a month. So I'd perhaps consider what car you need, cost it (lease?), then from that derive a baseline housing budget. I don't see the point in owning a flash car in SG, and many/most people seem to get by without owning a car at all.
Having a baseline figure for housing then leads you to consider where you can afford a place that fits your needs. If you look at the template here ... -> viewtopic.php?t=101985 considering that will help you triangulate candidate neighbourhoods and perhaps even candidate condos. It will also get you in the right frame of mind for house-hunting which will make briefing a rental agent far more efficient. You don't mention agents fees, presumably from your own pocket? [side-note: If any agents read this topic and start sending you unsolicited Private Messages offering 'help' I'd suggest reporting them to the Moderators, as it is strictly verboten].

Is the 1 week trip really a 'home search' trip? As that would really be pushing it to the absolute max. Esp. considering you have up to 60 days in temp accommodation on offer too. Most places to let are for immediate occupation, so it's not like you'll visit for a week to sign-up a place for when you move over some time down the road. Or is the 1 week more of a look in, see the office, meet your future colleagues kind of thing? If that's what it is then I'd completely leave aside home-searching at that time as, as is, you'll have more than enough to be getting to grips with.
60 days temp accommodation. Where, hotel, apartment-hotel, budget, as that will be $$$? A home-search can take as long as the time available to do it. But for most people (and esp with children) the novelty wears off pretty quickly, more than 30 days can become a real grind. So maybe, arrive and enjoy week one and find your feet, week two hook up with an agent or agents. I'd be surprised if you'd take more than 2-3/max weeks to find a place. But you have lots of additional buffer which is nice. The longer you spend in temp accom also means the closer your freight will have come. In an ideal world you'll have got your freight into your new home prior to moving in, but it's not usually that seamless.

Welcome to the forum and let us know how you're getting on.
'Do it or do not do it: You will regret both' - Kierkegaard

Siv
Regular
Regular
Posts: 61
Joined: Fri, 06 Dec 2013

Re: Advices on my package?

Postby Siv » Mon, 15 Feb 2016 8:13 am

Nopainnogain06 wrote:Hi all,

I have been an active reader of this forum but this is my first post as I'd like to get your advices on the package that I've been offered.

More abt me:
I work in EU for a big company in shipping
I'm in my 30s, married with 2 small children
Position offered: sales director South Asia
Contract: Local with relocation package
Package: S$24K/month (including 8k for housing and car) meaning S$288K/year
Bonus: 30-40k/year on top
Yearly salary: more or less S$325K/year
Relocation package: 1 week home search trip + max 60 days temp living + moving of household included - door to door service (No max volume but usually 1 container) + signing bonus of S$45K net + return tickets home for the family (1 a year for 2 years only)
Health care: insurance in case of hospitalization included + reimbursement Doctor up to S$100 each time We go
Vacation: 25 days

I was told that this type of package was good especially given the current economy (sadly more and more ppl are leaving Singapore).

What do you guys think? :D


WOW...in times like these, a package like that ?? Congratulations

You'd have no problems whatsoever on that salary. And even if you had school going kids, you could easily afford even International Schools.

And 8K for housing and car ?? Get outta here.....:D

Cheers

Nopainnogain06
Newbie
Newbie
Posts: 3
Joined: Sun, 14 Feb 2016

Re: Advices on my package?

Postby Nopainnogain06 » Mon, 15 Feb 2016 4:02 pm

@JR8:
JR8 wrote:Good to see an element of 'Home leave [flights]', and routine medical costs, as IME it's hard to visit a local doctor/GP in SG and for it to cost less than $100.
Good to know. Actually, from my research (also with friends living in SG), a visit at a local (private) doctor was somewhere btw $50 to $100... Even if I have to pay a small amount out of my pocket that is still ok I believe. IMO the most important being the supplementary insurance in case of hospitalization etc.

JR8 wrote:Your children are of an age where 'serious' school fees might not come onto the horizon during your tenure. Will the children stay at home or be sent out to daycare or kindergarten?
My wife will also work so most probably kindergarten. What is the difference btw daycare and kindergarten? I assume daycare is 'pay as you go'?

JR8 wrote:$8k for housing + car. That might sting if you say live in town back home and drive a Porsche/Merc etc. Even the lease on a Suzuki Swift might cost you say S$2k a month. So I'd perhaps consider what car you need, cost it (lease?), then from that derive a baseline housing budget. I don't see the point in owning a flash car in SG, and many/most people seem to get by without owning a car at all.
Totally agree! Cost of car is just outrageous in SG... I even consider skipping the car and see how I get along with the mrt - and then decide

JR8 wrote:You don't mention agents fees, presumably from your own pocket? [side-note: If any agents read this topic and start sending you unsolicited Private Messages offering 'help' I'd suggest reporting them to the Moderators, as it is strictly verboten].
I thought agent fees were paid by owners if rent was greater than $3000/month?

JR8 wrote: Is the 1 week trip really a 'home search' trip? As that would really be pushing it to the absolute max. Esp. considering you have up to 60 days in temp accommodation on offer too. Most places to let are for immediate occupation, so it's not like you'll visit for a week to sign-up a place for when you move over some time down the road. Or is the 1 week more of a look in, see the office, meet your future colleagues kind of thing? If that's what it is then I'd completely leave aside home-searching at that time as, as is, you'll have more than enough to be getting to grips with.
The 1 week trip is for home find, area orientation, etc. I will be 'given' an agent by the company on that week. I will also go visit the office and my future colleagues. In any case, I am NOT planning to sign anything on that trip and will probably use 30 days or so of temp accomodation. I want to be sure of the area/condo before signing a 1, 2 or 3 year lease

JR8 wrote:60 days temp accommodation. Where, hotel, apartment-hotel, budget, as that will be $$$?
Service apt or hotel as I wish and expenses included

JR8 wrote:The longer you spend in temp accom also means the closer your freight will have come. In an ideal world you'll have got your freight into your new home prior to moving in, but it's not usually that seamless.
This should not be a problem as temporary storage is included too ;)

@SIV: thanks, from what I read on the forum the package is indeed not bad at all :D


  • Similar Topics
    Replies
    Views
    Last post

Return to “Careers & Jobs in Singapore”

Who is online

Users browsing this forum: No registered users and 4 guests