Am I crazy taking this offer?

[aballoonflies]

Hi All,
Have been reading and researching on this forum for a while. Recently I have accepted an offer of a corp financial analyst role at my company (MNC) for about S$60k/yr. It's a local package. The company is offering full relocation and will cover my phone/internet plan.

A bit of background:
25/m from CA, USA. Chinese ethnic raised in CA.
about 1 1/2 year professional experience in accounting. Currently studying for CPA exam.
The financial analyst job offers a much greater advancing opportunity into management compared to the current role I am in. I will be helping to build a functional team handling all APAC revenue recognition per IFRS and GAAP. The current role as a corp finance, I would see myself going not much higher regardless the time spent.

Now regardless of how fantastic the experience sound (at least to me), is my 60k offer low? I have talked to several SG local friends, all seem to agree that this is a fair offer. With only 1 1/2 year experience, should I consider myself even lucky to be allowed to get my hands on such role/project?

To me, I am 25 and wanting more work experience exposure. Money just isn't everything. But after all everyone wants to be paid at what they worth.

To make things more complicated...my gf (soon to be wife) decided to tag along for the move, which I reckon puts my $60k salary on a really tight line providing a decent life in SG. With that said, am I even realistic letting her move together with me?

at this point I think I will have to put down around 3k for only the rent. With 1k living expense, I am sure I can survive but just forget about short trips here and there in Asia. If I am willing to share condo (let's say two couples sharing a 2 bedroom, each have their room and toilet), am I more realistic this way?

Background of her:
She is a caricature at bay area, CA. She intend to use DP to open a business (sole proprietorship) so she can do the same in SG. Is caricature business pretty popular in SG? Judging it is a tourist country/city.

I apologize if this is written a bit messy. Please ask me to clarify if any of you are confused at any point.

Thanks!

PS. guess this whole thread is to relief a bit of my anxiety of the move...

[JR8]

If you use the Search button in the upper right you will find other threads where people have gone through their packages and the cost of living.

I'd suggest that you need to do this carefully, especially as you're suggesting spending a whopping 60% of your gross salary on rent!

Good luck.

[sundaymorningstaple]

If you opt for a rental 2 BR HDB flat on the outside of the CBD you will look at rentals in the vicinity of 2K +/- This gives you 20% more to play/live with. Try to stay close to MRT lines and it will cut your transport costs down a lot as well.

You biggest problem will be the bringing your gf and getting her the requisite pass. She cannot be on a DP but only an LTVP. This will not allow her to work and it is time based (3,6,12 months). If she wants to work she'll have to qualify in her own right for an EP. However, if you get married before coming here, then she qualifies for a DP. Once she has that, several options open up for her.

You biggest problem will getting it to fly with MOM.....

[traderwu]

I think the pay is in line to what is paying in the US. My brother took the same job in Manhattan for 40k with no experience last year. He started in April, and after the year ended, he received a 20k rise with 20k as bonus. So the money is there.

You also save on tax. I think Cali is #3 or 4 on high tax.

[nakatago]

and after the year ended, he received a 20k rise with 20k as bonus. So the money is there..

If only...

[luminoso]

Background of her:
She is a caricature at bay area, CA. She intend to use DP to open a business (sole proprietorship) so she can do the same in SG. Is caricature business pretty popular in SG? Judging it is a tourist country/city.

I

You mean she is a caricature artist?

She might struggle in Singapore. There are loads of other caricature artists who are charging very low prices. This particular niche has been done to death over here. She might actually have more success if she manages to reinvent her services towards providing novelty souvenirs and gifts to corporations rather than targeting tourists.

[Delphino]

If you use the Search button in the upper right you will find other threads where people have gone through their packages and the cost of living.

I'd suggest that you need to do this carefully, especially as you're suggesting spending a whopping 60% of your gross salary on rent!

Good luck.

yeah.. you need to consider carefully. 60% on rent is alot!

[nunoduarte2011]

Hello,

Hope you are well today.

regarding what you said, do you mind to reveal which was the company that you brother applied for?

Do you think that custody services is an industry to find a job? a decent on?

Regards and many luck for your brother,
NMAB

I think the pay is in line to what is paying in the US. My brother took the same job in Manhattan for 40k with no experience last year. He started in April, and after the year ended, he received a 20k rise with 20k as bonus. So the money is there.

You also save on tax. I think Cali is #3 or 4 on high tax.

[ausinsg]

Why not consider trying for a master room in a sharehouse initially? Or your sharing flat idea.

If you are coming all this way, it seems a waste not to indulge in short trips around the region. You might need them to keep both your and your gf's sanity...and to make the friends back home insanely jealous of you!

If your gf cannot find work easily, it can be quite demoralising, so having the disposable income to go out in Singapore or to travel around, will probably give you a better lifestyle.

You can always upgrade to a place of your own in a year or two when you get a promotion and are paid more. Even if you go for a place that just rents out a serviced room which is self-contained, and which you can get for X months, it could be worthwhile. Then when you determine the type of lifestyle you want, and if you will both be working or not, it could help you change your expectations accordingly.

[aballoonflies]

HI All,
Thanks for all the comments~!
Just a little bit of update on my side.
I took the job, and I got married.
So I arrived a week ago and now I am in Singapore working at Suntec building. I have to say that Singapore is indeed a very nice place.

As for the Wify thing...Since I am married then the DP isnt going to be an issue.
As for her caricature business. She will try to mainly target parties, weddings and corporate events hopefully.

I havent starting looking for housing yet due to my schedules...I will start in December and hopefully I find something affordable and like. I came down to the decision that I am willing to go all the way to north of Serangoon.

My manager mentioned to me the other day that the HDB, condos around the new circle MRT line that's opened. Any of you have any info?

[aballoonflies]

To some of you who PM me..I dont have enough post to reply yet...
You guys are welcome to shoot me an email
lk1120 AT Gmail.

[nakatago]

To some of you who PM me..I dont have enough post to reply yet...
You guys are welcome to shoot me an email
lk1120 AT Gmail.

No need for email. You should be able to send PM's now.

[ksl]

She will try to mainly target parties, weddings and corporate events hopefully.

You will find that many wedding arrangements go through the events held at Changi expo and Suntec City exhibition halls, locate the event organiser and your wife can then network with others. Also many photographic wedding honeymoon trips to Taiwan are offered to Singaporeans.