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monthly variable component in singapore

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sin2008
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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

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sundaymorningstaple
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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
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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.

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sundaymorningstaple
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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


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