Moving to Singapore - Advice needed in taking an offer

[sanjan]

Hi

I am an entry level Master's graduate in Electrical Engineering and I have an offer from a company in Singapore. The offer is S$2500. I want to know whether this is the average salary in Singapore for entry level graduates. Also is it salary enough to live and save a little bit in Singapore for a person with normal life style.

Your suggestions will be appreciated. Thanks in advance.

[jhkim]

I heard average college graduate here makes that much....but you have master degree....I would think that around 3000 is a fair amount....but you need to consider size of your company....and where you are from....
People from 3rd world country makes less then people from developed country.....

Try not to compare so much with other but evaluate on your own....are you making more then now...will you save more?

Career in Singapore will be worthed in the run run even though you start with a low pay.

I know many college graduate with 2-3 years of exp in your field who don't even pay tax because they make less than 20,000/year.

[Scorpion]

Hi sanjan,

i guess the salary quoted is normal for an Q pass requirement. With a normal spend you can save more than 50% of your earning.

but if you can get more, that can credit to your savings but as this your first offer in singapore good to start with then you can hop on.

cheers

[murvy]

Hi Sanjan

The salary seems about average for entry level. I don't think a masters degree makes a difference unless it's a degree from an Ivy League U.

Expect to spend at least $500/- per month if you're renting a room; $800-$1,000 if you rent a small unfurnished flat. Add $100 for transport and $300-$500 for meals. And another $200 for miscelleanous expenses.

And bear in mind that your net monthly salary will be lower as 20% goes into a compulsory superannuation scheme.

All in all, you'll be on a tight budget. But you'll enjoy a good standard of living and a promise of better things to come if you stick around for a while and prove your worth.

cheers

[sundaymorningstaple]

And bear in mind that your net monthly salary will be lower as 20% goes into a compulsory superannuation scheme.

This is incorrect. Central Provident Fund contributions are only paid by Permanent Residents & Citizens. Not Employment Pass Holders.

sms

[Carpe Diem]

And bear in mind that your net monthly salary will be lower as 20% goes into a compulsory superannuation scheme.

This is incorrect. Central Provident Fund contributions are only paid by Permanent Residents & Citizens. Not Employment Pass Holders.

sms

Confirmed, you will just have to pay income tax.

Assuming you get 13 month salary (which is usually the practice), you will earn 13 x 2,500 = 32,500 per year and you will have to pay taxes as follows:
Income = 32,500 - 1,000 (personal relief) = 31,500
Tax amount will be 400 $ on the first 30,000 + 5.75 % on the rest. It means 400 + 1,500 x 5.75 % = $486.25, which means 40$ per month.

(I have used the 2006 tax rate, which will be lower than in 2005).