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SCB Relocation Package?

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scot33
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SCB Relocation Package?

Post by scot33 » Tue, 15 Dec 2020 11:54 pm

I'm wondering if anyone knows what assistance StanChart may offer someone moving from the UK to Singapore? I'm considering applying for a senior (Exec Director / Head Of) role at SCB. My skillset in tech is fairly niche so I don't imagine there will be a huge amount of credible competition for the role.

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PNGMK
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Re: SCB Relocation Package?

Post by PNGMK » Thu, 17 Dec 2020 10:33 am

It should be a full relocation package. (Moving, rent, school fees, health insurance, club memberships, pension payments, annual flights home, maid service, income tax paid, stock options and a golden parachute written in if they have to retrench you).
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TropicalExpat
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Re: SCB Relocation Package?

Post by TropicalExpat » Fri, 18 Dec 2020 11:06 am

scot33 wrote:
Tue, 15 Dec 2020 11:54 pm
I'm wondering if anyone knows what assistance StanChart may offer someone moving from the UK to Singapore? I'm considering applying for a senior (Exec Director / Head Of) role at SCB. My skillset in tech is fairly niche so I don't imagine there will be a huge amount of credible competition for the role.
I think it depends what "Head" you really are. I know of a bunch of roles at various places (banks, tech companies) where people are "head" but are head of a team of two.

From what I understand most banks do not offer the full expat package anymore, even to those at the top of their respective business lines - only to the very top people.
Most of these packages went out during the financial crisis. Those who got to Singapore before the crisis may still have them, as breaking them out of that expat contract is too hard.

What they normally offer as basic is a relocation package - flights for you and your family to move out to your destination, a few months housing and maybe a little extra cash for the move (plus tax services). There is usually a contract that says you must work at the company for x months or else you pay back the relocation budget, or if they terminate you, they return you back to your home country.

The other thing they may offer is a hybrid style. You get the full package as discussed by PNGMK - return flights, domestic help, car, school, house etc but it's for a limited time (2 years?). After that, your contract is localised or you return to your home country. This is quite normal as well. I've heard of people taking the contract and then returning to their home country afterwards because either they couldn't afford their new lifestyle or they just missed being in their home country.

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sundaymorningstaple
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Re: SCB Relocation Package?

Post by sundaymorningstaple » Fri, 18 Dec 2020 1:45 pm

PNGMK wrote:
Thu, 17 Dec 2020 10:33 am
It should be a full relocation package. (Moving, rent, school fees, health insurance, club memberships, pension payments, annual flights home, maid service, income tax paid, stock options and a golden parachute written in if they have to retrench you).
A bit
tongueincheek.jpg
I must say. :-k

Wong_Jnr
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Re: SCB Relocation Package?

Post by Wong_Jnr » Tue, 22 Dec 2020 10:16 am

SCB, good luck. They've just made massive cut-backs in their expat numbers in senior roles throughout the bank.
They only offer local contracts and have been doing so for probably 10 years.

...and SCB you should consider a different company. It's one of the worst places to work and has a very poor reputation here.

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