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Advice on Package offer - for family of 5

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lamata35
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Advice on Package offer - for family of 5

Postby lamata35 » Thu, 25 May 2006 11:00 pm

Hello,

I know this topic has been covered many times on this forum already, however I'd like some advice on the salary package my company has offered me to transfer from London to Singapore. The contract is described as a "local contract Plus". The offer is:-

Salary S$180K per year
Rent S$ 3,600 per month
Utilities & Maintenance S$ 1,200 per month.

would this package give a good standard of living for me, wife and 3 children (ages 5, 4 & 2).

Should I also trying to push for school fees as part of the package?

What other items should I try to include?

Any advice would be greatly appreciated.

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Saint
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Postby Saint » Thu, 25 May 2006 11:18 pm

Definitely a good package but you might want to consider having Health Insurance for the whole family included as this can be quite expensive. I would also push for School fees especially if you are going to be in Singapore for a few years.

You also might want to think about getting a car allowance, even though the public transport if very good and cheap, having 3 young kids could be a bit of a handful.

By the sounds of it, your company calling it a "local package" maybe trying to get away with providing the normal "Expats" perks as mentioned above.

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Postby Vaucluse » Fri, 26 May 2006 7:04 am

I'd agree with Saint; medical and school fees. Not sure about the car allowance but definitely the first tow.
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'nuff said Image

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Postby Mary Hatch Bailey » Fri, 26 May 2006 7:23 am

Yes, to school fees for sure. (You may want to ask for the bus fees as welll... :tongue: I was not sticking my tongue out at you lamata35, just dreging up some bad blood with a few forum regulars). I guess they are really giving this decision back to you in that your income is high enough to afford an International School if you choose.

What about home leave? I guess that would be too much to ask on a 'local contract plus'?

I'm going to say/write this as delicately as possible: your income seems disproportionally high to your housing budget, especially with 3 kids. It seems like they are trying to compensate you generously and leave a lot of the decision making up to you. That's all OK, as long as you know what to expect.

I agree with Saint, a car is not esential but with three kids it's not too much to ask for. Also, because your housing budget is in the low side and assuming you don't want to come out of pocket, your options are limited by bus/mrt routes which are convenient to both school and your work.

That's a healthy utilites/maintenance allowance though, and if you are not in a landed house (not really an option with your budget) than perhaps some of that can be applied to rent as well?

Are they going to cover your short term rental (a Serviced Apartment) while you look for your permanent place? I'd for sure ask for 30 days, you'll need it and it's expensive.

Hope this helps.

:)

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Postby Vaucluse » Fri, 26 May 2006 7:34 am

I think you are sending a raspberry to a dearly departed here, Mary.
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'nuff said Image

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Postby Mary Hatch Bailey » Fri, 26 May 2006 8:32 am

Vaucluse wrote:I think you are sending a raspberry to a dearly departed here, Mary.


Ya, but it still feels good.

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Postby Vaucluse » Fri, 26 May 2006 8:51 am

Mary Hatch Bailey wrote:
Vaucluse wrote:I think you are sending a raspberry to a dearly departed here, Mary.


Ya, but it still feels good.


. . . said the actress to the bishop
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'nuff said Image

lamata35
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Should I be holding out for a higher housing budget?

Postby lamata35 » Fri, 26 May 2006 4:37 pm

Thanks for the detailed responses. My company has given me the flexibility to combine my housing allowance with the M&U allowance, so theoretically I could have a housing budget of S$4800 per month. Should I be pushing for more?

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Re: Should I be holding out for a higher housing budget?

Postby Saint » Fri, 26 May 2006 4:48 pm

lamata35 wrote:Thanks for the detailed responses. My company has given me the flexibility to combine my housing allowance with the M&U allowance, so theoretically I could have a housing budget of S$4800 per month. Should I be pushing for more?


You need to consider where you want to rent in Singapore as it's very much in line with London and it's surrounding areas, the further from the City/Orchard Road etc the cheaper it is. $4800 will afford you a pretty good condo outside of the City.

I would personally push more for the Health Insurance and School Fees

school fees

package

Postby school fees » Fri, 09 Jun 2006 1:05 am

If you have 3 children in International School then you will pay about 60,000 per year in school fees. If your children need to take school bus to school then you could pay at least 500sgd per month for that also. I would absolutely ask for this to be covered by the company along with medical insurance. The school fees alone will take ove 1/3 of your salary before taxes!

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Postby sundaymorningstaple » Fri, 09 Jun 2006 9:44 am

OP, it seems all of this advice you have gotten thus far is nice and well meaning as far as it goes.

However, while I don't want to be a wet blanket here, I think that the first thing here that needs to be answered is whether or not the Basic Salary Package is in line with your position relative to Singapore (not relative to your home country). e.g., what is the going salary rate for your position here. Only then can we start determining whether or not your package is good, bad or median. I mean, if you are an Engineer in one of the hard engineering sciences (non-specialized) with less than 5 years experience then I'd have to say the package is very good. However if you are being offered a position as a CFO with an MBA and 10-15 years experience then the package needs a total rethink. We don't have a clue as to what level you are at in the food chain.

How 'bout it? Any guidelines to help us to help you better? If you listen to people telling you that you need this or need that, you had better hope that they don't convince you to negotiate yourself right out of the position. Especially if coming possibly from people already higher in the food chain who have especially attractive packages.

sms

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Postby bunty » Fri, 09 Jun 2006 9:54 am

Why do u all say a rent allowance of 3600 is inadequate for a condo in the city. I understand even 3 bedder condos come for 2000-2500.
are u saying there are condos for greater than 3500 SGD. pray, what special facilities do these have?

medical is definitely an expensive item in singapore.

Lamata

Final Package

Postby Lamata » Fri, 09 Jun 2006 5:10 pm

Hi,

Thanks for all of the good advice. I've finalised the package and it comes to a basic salary (gross) of S$220,000 + Healthcare for entire family. This figure includes housing allowance. My bonus target is 20% of salary.

In terms of specifics of job role, it's a Biz Dev role in an MNC. I am 33 years old and have been with the company for 6 months.

Will this be enough to provide a good standard of living?


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