Is S$ 14000 a month enough in singapore?

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BillyB
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Post by BillyB » Sat, 19 Feb 2011 12:24 pm

Banking or I.T........

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Post by Calmday » Sat, 19 Feb 2011 12:29 pm

revhappy wrote:
Calmday wrote:
revhappy wrote: I am also keen to know, since according to the Kelly's guide, you need to be like a country head or something to get that kind of a salary

http://www.kellyservices.com.sg/res/con ... 9_2010.pdf
Hahahaa maybe the guy actually has a skill. All of you graduates are a dime a dozen. Us guys with real skills have no problem earning that kinda bank.
So where do you belong? "All of you graduates" or "Us guys with real skills" ?
I have skills and some education. The education got me in the door 20 years ago. The skills got me to where I am now.

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Post by BillyB » Sat, 19 Feb 2011 12:31 pm

Calmday wrote:
revhappy wrote:
Calmday wrote:Hahahaa maybe the guy actually has a skill. All of you graduates are a dime a dozen. Us guys with real skills have no problem earning that kinda bank.
So where do you belong? "All of you graduates" or "Us guys with real skills" ?
I have skills and some education. The education got me in the door 20 years ago. The skills got me to where I am now.
Isn't that the way it still works today??!!

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Post by Calmday » Sat, 19 Feb 2011 12:35 pm

BillyB wrote:
Isn't that the way it still works today??!!
My point exactly.

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Post by x9200 » Sat, 19 Feb 2011 1:35 pm

BillyB wrote:Banking or I.T........
Banking. There was also a banking girl here some time ago who did not know how to use a search engine.

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Post by Sad Panda » Sat, 19 Feb 2011 2:46 pm

Kind of surprised i haven't seen a link to a lmgtfy.com extension yet given how often this pops up. eg
http://lmgtfy.com/?q=Singapore+Salary+Expat

that site always gives me a laugh
"The problem with quotes online is that you never really know if they are real." ~ Abe Lincon

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Post by sundaymorningstaple » Sat, 19 Feb 2011 3:51 pm

Sad Panda wrote:Kind of surprised i haven't seen a link to a lmgtfy.com extension yet given how often this pops up. eg
http://lmgtfy.com/?q=Singapore+Salary+Expat

that site always gives me a laugh
You just haven't been here long enough. I've been using it for the past couple of years. In fact just last week .....

http://forum.singaporeexpats.com/sutra5 ... ht=#504077

:cool:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by Eau2011 » Sat, 19 Feb 2011 6:52 pm

sundaymorningstaple wrote:
Sad Panda wrote:Kind of surprised i haven't seen a link to a lmgtfy.com extension yet given how often this pops up. eg
http://lmgtfy.com/?q=Singapore+Salary+Expat

that site always gives me a laugh
You just haven't been here long enough. I've been using it for the past couple of years. In fact just last week .....

http://forum.singaporeexpats.com/sutra5 ... ht=#504077

:cool:
Now I understand why ksl said this is the best forum in Singapore for expats. :wink:

Got it...

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Post by JR8 » Sat, 19 Feb 2011 7:27 pm

revhappy wrote:
BillyB wrote: In what industry do you work?
I am also keen to know, since according to the Kelly's guide, you need to be like a country head or something to get that kind of a salary

http://www.kellyservices.com.sg/res/con ... 9_2010.pdf

And BTW, 80K by UK standards, you need to be "Directors and chief executives of major organisations"

http://www.thisismoney.co.uk/work/artic ... e_id=53928

So I wonder who are you?
I was surprised by the numbers in the KellyServices report. Are they for local companies or MNCs? The figures for FX trader and equity dealers seem impossibly low.

re: the Thisismoney table, it suggests no jobs in the UK pay over £100k/pa !? GPs earn over that, senior medical consultants earn at least £150k, council chiefs routinely earn more than the prime-minister who is on £140k, government ministers are on six figures. Hell I worked with bond traders in London 20 years ago who were on £2m/p.a!

£80k/pa might probably be considered the kind of figure that you would expect working in something like ... as a qualified accountant working in banking product control, or an Systems project manager and so on.

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Post by huhahaha » Sat, 19 Feb 2011 9:47 pm

Thanks people

Kelly guide sucks...

i am no chief or country head just an entry level associate in Finance/Banking 24 years old..

Thanks guys for your input..I have got some idea about the place and what i can do with my salary..Guess i will live comfortably and save few bucks also..

:D

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Post by Strong Eagle » Sat, 19 Feb 2011 9:48 pm

JR8 wrote:
revhappy wrote:
BillyB wrote: In what industry do you work?
I am also keen to know, since according to the Kelly's guide, you need to be like a country head or something to get that kind of a salary

http://www.kellyservices.com.sg/res/con ... 9_2010.pdf

And BTW, 80K by UK standards, you need to be "Directors and chief executives of major organisations"

http://www.thisismoney.co.uk/work/artic ... e_id=53928

So I wonder who are you?
I was surprised by the numbers in the KellyServices report. Are they for local companies or MNCs? The figures for FX trader and equity dealers seem impossibly low.

re: the Thisismoney table, it suggests no jobs in the UK pay over £100k/pa !? GPs earn over that, senior medical consultants earn at least £150k, council chiefs routinely earn more than the prime-minister who is on £140k, government ministers are on six figures. Hell I worked with bond traders in London 20 years ago who were on £2m/p.a!

£80k/pa might probably be considered the kind of figure that you would expect working in something like ... as a qualified accountant working in banking product control, or an Systems project manager and so on.
Really depends where you work. If in an MNC, then almost always similar positions need to be 'balanced' world wide, in terms of salary. This is above and beyond the localized compensation one gets for cost of living... aka... you get more living in Tokyo than in KL. But, an L2 level director is going to be paid in a similar strata simply because this person may be transferred from post to post. You couldn't send a high earning EU person to Asia and expect to pay less just because other comparable Asian positions paid less.

And, if you work for an Asian company expect less. Don't know where Kelly gets their numbers but to me, the high ends represent what you might expect in an MNC, the mid/low points, what you find in an Asian company.

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Post by Calmday » Sat, 19 Feb 2011 10:11 pm

The Kelly numbers are ridiculously low. Any employer you tries to live by those numbers is doomed to failure. A quality work force would cost at least half again as much.

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Post by JR8 » Sat, 19 Feb 2011 10:26 pm

Strong Eagle wrote:
Really depends where you work. If in an MNC, then almost always similar positions need to be 'balanced' world wide, in terms of salary. This is above and beyond the localized compensation one gets for cost of living... aka... you get more living in Tokyo than in KL. But, an L2 level director is going to be paid in a similar strata simply because this person may be transferred from post to post. You couldn't send a high earning EU person to Asia and expect to pay less just because other comparable Asian positions paid less.
Agreed. For me my salary was bench-marked versus what I would be paid in London. The allowances were the additional icing on the cake. Also the trick was to get a grade promotion thrown in as well, as that had a big impact on the bonus. The intent also being that you'd keep that grade when you returned home.
And, if you work for an Asian company expect less. Don't know where Kelly gets their numbers but to me, the high ends represent what you might expect in an MNC, the mid/low points, what you find in an Asian company.
FX trader, Max salary S$5k = @ say 2.10 = c. £28k pa
Securities/equity dealer, Max salary S$6k = c. £35k pa

I notice in their intro they discuss 'salary and bonuses', and the above figures are just salary. If it excludes bonus, which of course can easily be multiples of the basic, it might make a bit more sense. Also almost all the positions listed by Kelly seem to for pretty junior levels. For the above two, 2-3 and 3-5 years experience.

p.s.. a tip for you huhahaha on saving money, as a 24 year old Associate in Finance/banking you're not going to need to rent a place, since you're going to be living at your desk
:wink: :wink:

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Post by BillyB » Sat, 19 Feb 2011 10:49 pm

The numbers, especially for the banking sector, are a mixed bag and some seem ridiculously low. Unless they are making their calculations on purely the local banks and are not factoring expats and some mid to top tier salaries into the mix.

Or could it be recruiters going on the low side so they don't price themselves out of the market and also to justify their great service when they get you a higher salary!!

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Post by huhahaha » Sun, 20 Feb 2011 9:52 am

thanks everyone for your time and views..

as you all have mentioned i will be able to live nicely and save few bucks too, i would like to ask how is nightlife in Singapore, around raffles place, as if i am earning decent then i would like to go out and enjoy..

and also about the much talked about Great Singapore Sale..i am looking forward to buy ipad or macbook..will i be able to get these things at discount in this sale or shall i consider buying them from my home country?

thanks again guys

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