Singapore Expats Forum

Expat Packages

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

hedgehunter
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Expat Packages

Postby hedgehunter » Tue, 18 Dec 2007 9:12 am

The majority of the people I have met since I have been here tend to be on attractive expat packages. I am starting to think that I may have made a big mistake in coming here without one and cannot see myself sticking around for much longer after 2008 as costs for me and my family are spiralling, particularly with rent.

I am from the UK and an AVP working in the operations area of an investment bank and earn $115k+bonus. No other perks apart from pension and helathcare. I am trying to work out whether expat packages are normally offered to people in my position or do you need to be higher up the hierachy?

People look at me like I'm mad when I tell them that I don't have a package, they say "what are you doing here without one, everyone comes here to make money, not to scrimp by?"

If there are any people out there that are of a similar position as me in an investment bank, it would be intersting to hear your thoughts.

Thx

Jeppo
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Postby Jeppo » Tue, 18 Dec 2007 10:45 am

My advice?

Stop hanging around with snobs :lol: :P :twisted:

hedgehunter
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Postby hedgehunter » Tue, 18 Dec 2007 10:49 am

Like I said, it would be interesting to hear other peoples thoughts on this, not some smart arse who has nothing else better to do.

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Strong Eagle
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Postby Strong Eagle » Tue, 18 Dec 2007 10:52 am

What Jeppo is trying to say is that there are also large numbers of expats who are not here on any kind of package. This isn't exactly "hardship Asia".

You can live very well on what has been offered. "Everyone" does not come here on a package... more and more, companies are offering the opportunity to come here.

Things that cost most:

a) Rents are going up.
b) Vehicle purchase is expensive
c) Private schools for kids are expensive.

Jeppo
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Postby Jeppo » Tue, 18 Dec 2007 11:16 am

Thanks SE :D

It should also be pointed out that every week there's someone who will ask almost exactly the same question and many of the people here have answered several times previously and get bored saying the same things over and over again.

edited to add I did a search and found 125 messages with "expat package" in them.

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Postby GranSport » Tue, 18 Dec 2007 12:09 pm

coming from Europe, I will arrive in January 2008, no package and fancy
safety nets. will be on a local contract. I'm in the early 30ies and have
two kids, similar compensation as in Europe and to be honest, I'm giving
up a lot but I'm sure the adventure will pay off, wasn't a financial decision
at all.

If I where you I would not think twice, go for it and pull the trigger.

cheers
GranSport

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Postby jockney » Tue, 18 Dec 2007 3:07 pm

Great answer Jeppo...some of the people here will hate that remark though :wink:
Whether you are in Singapore or Sydney as long as you are happy..whats the problem with what other people get?
As already stated by others, it is hardly expensive here is it?

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Postby travellingcircus » Wed, 19 Dec 2007 1:47 am

We are not living in Singapore, but are considering the move. We move around quite alot. We have 1 child and I am a stay-at-home mother. Until looking at moving to Asia we had never even considered an "expat package". We are simply after the same wage as in Europe, private health care and relocation costs covered (airfares and some excess baggage). I am of the opinion that 'expat packages' are a thing of the past and a flat salary with health care is more common.

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Postby jjcp » Wed, 19 Dec 2007 4:08 pm

I disagree with the comments. I am not sure what an AVP is but I assume if you are working for an investment bank and are on $115k you have very reputable and sought after skills. Therefore, I think there is nothing wrong with trying to work out what is the market rate (and package) for your skills in Singapore at an international company and seeking to obtain that rate for yourself.

To those who say you should be happy with what you have got, you cant truly say that if you could easily obtain another $50 or $100k you wouldn't go for it?? Why would anyone move from the UK to Singapore and take a large reduction in income?

Sure being in Singapore is an experience, but we all want to make money so we can have a better life and be able to afford more experiences. And there is nothing wrong with wanting that.

From knowing what my colleagues earn in the legal and banking industry, with the qualification that I do not know what an AVP is, I think you are not earning enough by a mile.

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Bafana
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Postby Bafana » Wed, 19 Dec 2007 4:28 pm

Expat packages - Where got lah...

Only in finacial and legal sectors only - But that is always the way and always will be.

Everybody else on only slightly better wickjet the at home plus pay less tax lah.
Be Like Water

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Postby seasider » Wed, 19 Dec 2007 8:27 pm

Whilst I agree that costs are increasing, you obviously thought your package was good enough when you accepted it. Why would what anybody else is on affect you?

AJ_Fulham
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Re: Expat Packages

Postby AJ_Fulham » Sat, 22 Dec 2007 7:10 pm

hedgehunter wrote:The majority of the people I have met since I have been here tend to be on attractive expat packages. I am starting to think that I may have made a big mistake in coming here without one and cannot see myself sticking around for much longer after 2008 as costs for me and my family are spiralling, particularly with rent.

I am from the UK and an AVP working in the operations area of an investment bank and earn $115k+bonus. No other perks apart from pension and helathcare. I am trying to work out whether expat packages are normally offered to people in my position or do you need to be higher up the hierachy?

People look at me like I'm mad when I tell them that I don't have a package, they say "what are you doing here without one, everyone comes here to make money, not to scrimp by?"

If there are any people out there that are of a similar position as me in an investment bank, it would be intersting to hear your thoughts.

Thx
Last edited by AJ_Fulham on Tue, 15 Jan 2008 4:48 am, edited 1 time in total.

vandy
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Postby vandy » Mon, 07 Jan 2008 10:25 am

I wonder if anyone ever has had success with reneogtiating their deal after they get to Singapore and find out that thier package is substantially less than that of their peers. Employers will take advantage of employees when they get a chance but once someone learns that they have received less than the norm, they should pursue the option of asking for more.

keepitreal
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Postby keepitreal » Wed, 09 Jan 2008 10:26 pm

I have been here for 6 months and went to my boss this week and advised them that the salary I am being paid is not enough. I am living on $800 per month after outgoing's but this doesn't include food costs.

I have told them that unless I get a substantial rise ( in the region of 35%), then I will be heading home in July once my pathetic re-location package clause is void.

There were a few things I overlooked before I came here which partly I am to blame for but at the same time the rediculous price rises we have seen with just about everything. The include:

Pension - No like the UK where employer does all the contributions, it's half and half here. Did HR let me know? No they didn't - thats $900debit.

Condo - looked in Apr07 and could get something decent for 3.5k - took my off the ball between then and July and ended up shelling out 5k when I got here - that's $1.5k

So you see, my original budgeting was to have 3.5k income after all outgoings which I thought would be decent, obviously not.

To those that are coming, make sure you cover everything. Happy to share my experieinces with you if need be.

Thx


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