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Need advice regarding salary & quality of life

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CANSing
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Need advice regarding salary & quality of life

Postby CANSing » Wed, 07 May 2008 7:29 pm

Hello all,

I know a lot of people ask these sorts of questions, but despite reviewing other posts I'd really appreciate feedback about my own situation.

Currently in US earning ~USD 148,000 (base+bonus). I worked in Singapore for about 8 months a little over a year ago & enjoyed my stay. I've now been offered a position there with same company, but the days of expat packages seem to have waned at my firm. Overall, I'm intrigued (since I've been trying to fashion an "int'l" career profile since graduating from MBA in 2004). Over last few years have worked in NAFTA-region, EU, AP. I'm hoping that another 2-year stint in Asia will help solidify my int'l ambitions. My work involves consulting (strategy, turnaround, outsourcing) within the Logistics industry. Hence, very mobile but lags a little salary-wise.

The offer on the table is approx (SG $'s):

base: 145,000
transportation allowance: 12,000
bonus: ~55,000

Hence, all in it's about 192,000 SG annual. Not an amount to get terribly excited about, but am willing to consider if I don't take too much of a hit month-to-month. Remembering that I can't take advantage of the low tax rate in Singapore (I'm a US permanent resident) I'm under the impression that I'll have less take home on a monthly basis because of the high rents (avg. 3500 - 4000 per month?).

If I got them to house me for at least a month upon arrival, this would help. But I'm looking for advice on whether the general SingaporeExpat public think this is an offer worth serious consideration.

Thank you very much for feedback.

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maneo
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Postby maneo » Thu, 08 May 2008 2:10 am

Let's see.
With that offer, you'd be in the top 3-5% of all wage earners in SG, earning what a managing director makes.

But wait, if we use your questionable sum of S$192K at current exchange rates you'd only be making US $140K.
I see why you say, "Not an amount to get terribly excited about."
That's less than what you're getting now.
Maybe you should stay put.

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Postby durain » Thu, 08 May 2008 6:00 am

some people can live like a king for S$192k, but some will think it is peanuts. it's how you want to live your life in singapore. do you just want to earn big money or enjoy a new environment and culture?

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Saint
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Postby Saint » Thu, 08 May 2008 7:21 am

The average household income in Singapore is S$6,280 per month, so if you are still worried I wouldn't bother.

You probably wont get any positive replies to your original posting as gloating about the size of your package on this forum, and other Singapore forums is a big no no.

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Postby nowaydude » Fri, 09 May 2008 10:06 am

Yeah, if you lived and worked here for 8 months already, you realize what a good deal you are being offered in terms of salary. I dislike such bragging also - you should know where your salary ranks in terms of Singapore - quite crying. Sorry to sound harsh but with 8 months of being here you should know more about this issue.

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Postby H Chinaski » Fri, 09 May 2008 10:39 am

Never mind

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maneo
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Postby maneo » Sat, 10 May 2008 12:03 am

Henry?

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durain
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Postby durain » Sat, 10 May 2008 12:15 am

could be harry?

CANSing
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thanks...

Postby CANSing » Sat, 10 May 2008 6:48 am

...to the handful that took the post seriously. For the others who squak & complain about my post - lay off. The intent wasn't to brag but rather, seek an honest appraisal about whether living in one of the most expensive cities in Asia was possible on the package described.

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Re: thanks...

Postby Plavt » Sat, 10 May 2008 7:01 am

CANSing wrote:...to the handful that took the post seriously. For the others who squak & complain about my post - lay off. The intent wasn't to brag but rather, seek an honest appraisal about whether living in one of the most expensive cities in Asia was possible on the package described.


:???: Surely you had or have an idea of the cost of living in Singapore? As Saint points out it is way past the average so I am perplexed as to why you wonder if it is possible? :???:

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Re: thanks...

Postby durain » Sat, 10 May 2008 7:13 am

CANSing wrote:...to the handful that took the post seriously. For the others who squak & complain about my post - lay off. The intent wasn't to brag but rather, seek an honest appraisal about whether living in one of the most expensive cities in Asia was possible on the package described.


with S$192k, of course it is possible to live in singapore. people can live on S$1k/month if they have to.

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sundaymorningstaple
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Postby sundaymorningstaple » Sat, 10 May 2008 9:21 am

Just re-read Saints post. If the "average" Singapore Household is over 6K/mo the obviously you can live several times better than than can't you? Where's the problem?

I also find that somebody who has already worked here for 8 months, and has an intellect that can command a reasonably high salary in anybody's mind, could not have spend that much time here without picking up something. In addition, with that much intellect I would have though a thorough search of the Forums here would have also provided most of the answers with regard to housing, transportation, cost of living, schools, medical, taxes and almost everything else including shipping and bringing your pets.

Anyway, as maneo pointed out, why would you want to come here for less money? Although net in your pocket you would probably still come out better even after taking into the account the new tax rates on the excess over the Income Earned Abroad Exclusion and the low, low Singapore Tax rates. (Duck's to avoid maneo throwing more bricks at me! :P )

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maneo
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Re: Need advice regarding salary & quality of life

Postby maneo » Sat, 10 May 2008 1:32 pm

No bricks forthcoming (this time :wink: ).

Speaking of the OP's intellect, don't know if you noticed the exceptional math skills:

CANSing wrote:The offer on the table is approx (SG $'s):

base: 145,000
transportation allowance: 12,000
bonus: ~55,000

Hence, all in it's about 192,000 SG annual.


For this he gets US$148K per year???
But, then again, what do I know?
Must be the "New math."

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sundaymorningstaple
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Postby sundaymorningstaple » Sat, 10 May 2008 5:17 pm

He's probably either into marketing (my guess) or a statistician as both can make numbers defy all laws of mathematics! If he's a statistician then he already qualifies, based on his example, to work for SingStat. :wink:

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Postby xernstx » Sat, 10 May 2008 6:05 pm

You need to post more details on your existing expenses in the US.

Rent? Car?

Also family - have kids?

Rent + Car in Singapore is more expensive than most places in the US (for comparable quality) - but you don't need a car in SG.

Also, the income exclusion + housing exemption + foreign tax credit will reduce your US tax burden significantly. Also, you won't be paying state taxes, or Social Security (depends on your employer) - so your take home pay could be higher.


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