Is this salary good enough ?

[hyojini]

Hi ~

I'm a semiconductor process engineer. I've worked about 10 years
in world No.1 memory manufacturer. I'm the leader of our department
now. I'm managing about 20 engineers.

Recently I've been offered a position of section manager from a large
semiconductor company in Singapore. The salary suggested from that
company is USD $85,000 totally ( no other benifits, such as housing,
transport, school fee, tax, etc.). Is this salary good enough considering
my career?

I have a wife and a daughter (2yrs old). The salary they have suggested
is slightly high than I'm given now. But they told me that the living cost
and tax are much lower in Singapore than in Korea. I really don't know
how much engineers are paid for in semiconductor industry.

Is there anyony who will advise me? I really need a help.

[Makan24-7]

Sounds decent enough... How well is compares to Korea will depend on several factors

Taxes: Your tax rate in Singapore is definitely less than 17%, perhaps even as low at 14%.

Housing: Rents for 3+1 bedroom apartments can run anywhere from US$1.5-3k (~20th-80th percentile) depending on the location.

Transportation: Do you plan to drive or use public transportation? Owning a car in Singapore is very expensive compared to most countries (probably except Malaysia)

Living: This can vary a LOT. If you adapt to the local cuisine and eat at hawker centers or food courts, it becomes very inexpensive.

Those are some key considerations, not all. That said, I'm coming to SG next month for 1-1.5 yrs, likewise, I am getting a small raise in my pay and they are paying for my move but no housing nor transportation allowance.

[hyojini]

Thanks for your kind reply, Makan24-7.

I have no plan to drive. I and my wife will use public transportation, so
I'd like to live near the bus or mrt stations. Plus we'are going to live
very simple.

However, I'm receiving USD $85K/year totally (including bonus), so
there is no raise in salary actually. Of course the tax rate is rather
higher in Korea, and the living cost in Korea is a little high.

Can I get a little more money by negotiation (about USD $90K)? And
which is better to receive a salary in SGD$ or in USD$?

[Makan24-7]

Hello Hyojini,
As far as the package is concerned, that really is up to your negotiation skills and what leverage you have over your bosses, isn't it?

If you're not too picky about staying close to downtown, you should be able to find a decent 3 or 3+1 bedroom apartment for less than S$3k. Be prepared to ride the bus or MRT.

Well, the difference in tax in itself is a raise too, isn't it? But that would also depend on how much rent you paid in the past and if you didn't, that is a pretty major expense to take on.

This is just my personal opinion but I think the US$ is going to continue to devalue. Therefore I locked in my salary in S$ at an exchange rate of S$1.6 to the US$. Again, I haven't actually started my assignment in SG but I'm already gaining from the weakening dollar.

When are you arriving in SG?

[huggybear]

hey dude, how did you lock in 1.6???
it's currently trading at around 1.53...which means you fleeced someone...
i'm moving in feb sometime.

[Makan24-7]

Hey there huggybear - My package was negotiated and locked down way back in Jan 2006. It just took me this long to get to move from the US to SG because of all the work that needed to be done in North America and EMEA. Anyway, it's only for 18 months at most and coz I'm not getting housing or transportation allowances, my company's not nitpicking with me on the rest of the package.

[Makan24-7]

Hey there huggybear - My package was negotiated and locked down way back in Jan 2006. It just took me this long to get to move from the US to SG because of all the work that needed to be done in North America and EMEA. Anyway, it's only for 18 months at most and coz I'm not getting housing or transportation allowances, my company's not nitpicking with me on the rest of the package.