Singapore Expats Forum

monthly variable component in singapore

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

sin2008
Member
Member
Posts: 29
Joined: Sat, 12 Apr 2008

monthly variable component in singapore

Postby sin2008 » Mon, 11 Aug 2008 8:29 pm

How common is this practice?
Normally what is the percentage of MVC with regard to base salary?

My understanding is that MVC is the part of the salary that the company can reduce when necessary. So it is entirely to the employer's advantage.

Thanks for your comments

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 35159
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Re: monthly variable component in singapore

Postby sundaymorningstaple » Mon, 11 Aug 2008 9:45 pm

sin2008 wrote:How common is this practice? Very
Normally what is the percentage of MVC with regard to base salary? 10~15%

My understanding is that MVC is the part of the salary that the company can reduce when necessary. So it is entirely to the employer's advantage. True

Thanks for your comments


Why?

sin2008
Member
Member
Posts: 29
Joined: Sat, 12 Apr 2008

Re: monthly variable component in singapore

Postby sin2008 » Mon, 11 Aug 2008 10:12 pm

sundaymorningstaple wrote:
sin2008 wrote:How common is this practice? Very
Normally what is the percentage of MVC with regard to base salary? 10~15%

My understanding is that MVC is the part of the salary that the company can reduce when necessary. So it is entirely to the employer's advantage. True

Thanks for your comments


Why?


Thanks!
I am asking because I saw it in my offer letter.

Also, I am a bit surprised to see an employment termination clause that even a mere "be charged with by a court of law of any crime which ...".
In general, i find the employment terms are very strict on the employees while basically the employers can not be at fault for anything.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 35159
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Tue, 12 Aug 2008 11:12 am

Welcome to Singapore! Or if you ARE a Singaporean, welcome to the reality of this country. They don't call it Singapore Inc for nothing. There are no Unions in Singapore so the Government weighs heavily in favour of the employer and their favourite term here is "Human Capital" which by definition mean a "disposable asset" so after they milk you dry, then they hang you out to dry or just toss you away. The employment contracts usually have a small clause somewhere in them that say the can change the conditions anytime either in writing by addendum, memo or just verbally. How Kool is that! :x

When I say there is no Union, I mean REAL union. NTUC and the other's are a joke when they are usually fronted by MP's and such. They are just a branch of the government who goosestep in line with the government while taking the members $9/month dues.

Hard to believe I'm an HR Manager ain't it! :P


  • Similar Topics
    Replies
    Views
    Last post
  • Salary component
    by Sxw8181 » Tue, 02 Aug 2016 10:34 pm » in Careers & Jobs in Singapore
    4
    901
    by BBCWatcher View the latest post
    Wed, 03 Aug 2016 7:51 am
  • GYM monthly fees in Singapore
    by expat_singapore » Mon, 20 Jan 2014 9:25 pm » in Staying, Living in Singapore
    16
    69669
    by Thatguy View the latest post
    Thu, 20 Feb 2014 9:51 pm
  • Pay- monthly contract mobile phone
    by chris_pilgrim » Mon, 16 Dec 2013 6:51 am » in General Discussions
    20
    5536
    by chris_pilgrim View the latest post
    Sun, 12 Jan 2014 4:20 pm
  • Fixed Monthly Salary and Taxes
    by CAtoSing » Thu, 13 Nov 2014 9:20 am » in Staying, Living in Singapore
    7
    1628
    by sundaymorningstaple View the latest post
    Thu, 13 Nov 2014 6:12 pm
  • Monthly transfers to Europe
    by ckx2 » Mon, 19 Jan 2015 7:34 pm » in Credit Card & Banking in Singapore
    1
    4535
    by JR8 View the latest post
    Mon, 19 Jan 2015 8:09 pm

Return to “Careers & Jobs in Singapore”

Who is online

Users browsing this forum: No registered users and 1 guest