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Structure of salaries & pay hikes - Questions

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aparnashekar
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Structure of salaries & pay hikes - Questions

Postby aparnashekar » Sun, 22 Jul 2007 1:05 am

Hi,

In India, salaries are typically split as -
Basic
HRA (House rent allowance)
LTA (leave travel allowance)
Medical
Bonus (Annual) - Mandatory
Special allowance
Variable Pay (On performance)
HRA, LTA, Medical can typically help in tax rebates.
Basic, special allowance, bonus variable pay are taxed.

What about Singapore? How are salaries typically structured -
I have received it as
Basic - 70% of my package
Medical - 1/2 month Basic
Bonus - 1 month Basic
Variable - 10% of my package
PF - Employer contribution - 13% of 4500 post PR
Is this a normal structure? Is this acceptable?

In this, only basic comes monthly. Bonus annually. Medical when I claim bills. Variable pay quarterly. Is this ok?

Also, in India, pay hikes year on year is amazing. In the last 2 years, i have received 30% pay hike every year. What is the average hike in Singapore? Is it every financial year? Is it April - march year or Jan - dec year?

Thanks,
Aparna

PS: Also, is it a 5 day working or 6 day.. typically?

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jpatokal
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Re: Structure of salaries & pay hikes - Questions

Postby jpatokal » Sun, 22 Jul 2007 8:58 pm

aparnashekar wrote:What about Singapore? How are salaries typically structured -
I have received it as
Basic - 70% of my package
Medical - 1/2 month Basic
Bonus - 1 month Basic
Variable - 10% of my package
PF - Employer contribution - 13% of 4500 post PR
Is this a normal structure? Is this acceptable?

Sounds pretty normal. Half a month's salary for medical is on the generous side: do they pay insurance or is that up to you? And it's CPF -- nobody is going to understand what you're talking about if you don't start using Singaporean terms!

Also, in India, pay hikes year on year is amazing. In the last 2 years, i have received 30% pay hike every year. What is the average hike in Singapore? Is it every financial year? Is it April - march year or Jan - dec year?

30% per year? Forget it! You'll get whatever your boss feels like and/or can extort...err...negotiate.

Also, is it a 5 day working or 6 day.. typically?

5 days at most all MNCs these days.
Vaguely heretical thoughts on travel technology at Gyrovague


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