Singapore Expats Forum

Salary

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

jimbooth
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Salary

Postby jimbooth » Thu, 12 Jul 2007 2:19 am

I am a VP with a major American Bank, I am planning to relocate to Singapore in October. I have been offered SGD180,000, how is that in terms of salary. Is that the market or is it too low?

Secondly, I am going to move with my partner who is a medical doctor and she wants to continue her further studies...can anyone help me with the names of the medical colleges which offer Residency in Singapore?

perplex_sheep
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Postby perplex_sheep » Thu, 12 Jul 2007 10:35 am

VP is merely a term/name many financial institutions used nowadays. Do you have more information like, how many people you are managing, their level (i.e. are the managers or executives), which department are you with (a VP in profit center will obviously earn alot more than a VP in a supporting department), and do you know how will your bonuses be structured? I have frens working in investment banks who received bonuses that is equivalent or more than their annual salaries.

jimbooth
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Postby jimbooth » Thu, 12 Jul 2007 11:05 am

I will be managing 4-5 people in different countries. This is going to be a frontline function. I used to head a business line in the country and moving in that same field but to handle a few more countries. My bonus is typically 50-70pct of salary. I am not in IB but commercial banking.

Also can you help me with my partner's situation?

Thanks

jimbooth
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New Thread

Postby jimbooth » Thu, 12 Jul 2007 4:36 pm

No offense but I am going to start another thread for my partner's situations. I do appreciate your help and look forward to a response on my query.

I hope you are understand

perplex_sheep
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Postby perplex_sheep » Thu, 12 Jul 2007 5:15 pm

Based on the fact that it is a major American Bank (assuming they have a big presence in Sg), and what you have described about your portfolio, your position sound pretty senior.

In excess to the SGD180K, are they providing other things, i.e. paying for your apartment, car, etc? If you havent sign the line, i think you have a good chance trying to negotiate for a better deal...

From what i understand, different banks offer different kind of benefits & compensation package. Some are more skewed towards more benefits (i.e. lodging, car, country club membership, etc) and i know some offer very minimum benefits but offer a higher compensation package. Dont be shy to drill your HR for more information, and ask for more things. If you dont ask, you wont get alot of things. Dont assume that they will tell you everything...HR is rarely the most helpful people.

As for your partner's situation, i might not be the best person to ask. I know that NUS (a local and very reputable university) offers medical course. You can call and check if they are able to continue her studies and/or do her residency in Singapore. If they are not able to let her continue her studies, they should be able to point you to the right direction.

http://www.med.nus.edu.sg/corporate/

jimbooth
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Thank you

Postby jimbooth » Sat, 14 Jul 2007 4:50 am

Thanks Perplex_sheep. Over the SGD 180,000, I have a moving allowance and they are going to pay for the usual shipping, house hunt and some temp acco.

Unfortunately, my company is not very big on benefits, they believe in cash and carry kind of model so they just want to pay you whatever you want.

My understanding from your reply is that there is still some room to up it. Can you give me a sense that is there lots of room or just little more squeez?

Thanks for all the help.


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