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Is this a good salary for Singapore?

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bearnem
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Is this a good salary for Singapore?

Post by bearnem » Wed, 13 Feb 2008 12:08 am

Hi,

I am an IT Architect with 14 years experience currently working as a permanent employee in the UK.

I have been approached about a 2 year contract in Singapore paying up to $150,000/year.

I am trying to work out whether this is a good salary for the region/role, what my living expenses will be, how much tax I will pay, and how much I will be able to save at the end of each month.

I have a wife and 2 year old child. We don't live a lavish lifestyle but would aim to live somewhere nice and reasonably spacious (~110 sq m suits us fine at the moment) ideally with some outdoor space (not sure though how realistic this is) and in a nice neighborhood.

The main aim would be to go out for a couple of years, experience living in a different culture, and save as much as possible.

Any help/info would be really appreciated.

thanks.

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durain
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Post by durain » Wed, 13 Feb 2008 12:57 am

S$150k is more than enuf if you not gonna have a lavish life style. the outdoor space would be difficult, but not impossible. i was once offered a terrace house in queenstown for about S$2000/month - 2 bedrooms with a bit of front and back space.

cks
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Your salary

Post by cks » Wed, 13 Feb 2008 11:23 pm

Hi,
Your salary is good enough. I agree with that. $2000 a month rental is sufficient to have your family staying in a good location. Renting government flats will put you nearer to the train station. Your family expenses won't go over $2000 as well if you are having a simpler lifestyle. I can say you can easily save $5000-$6000 a month with your kind of salary if your lifestyle is simple. Just split them into a few saving instruments and you should be fine when time is right for you to leave Singapore. You also won't have a problem buying a property in Singapore with that kind of salary.

cheers
ks

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