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Grad PR

Relocating, travelling or planning to make Singapore home? Discuss the criterias, passes or visa that is required.
doc1234
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Grad PR

Postby doc1234 » Sat, 07 Apr 2012 5:34 pm

Graduated Msc (UK) around a year ago and getting an EP to work as a financial adviser in Sing. How long do u think it may be wise to wait in order to apply for a PR?

Cheers!

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zzm9980
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Postby zzm9980 » Sat, 07 Apr 2012 5:43 pm

Depends on your race and income, more than those things. But the requirements state you need at least three tax statements.

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Postby doc1234 » Sun, 08 Apr 2012 6:07 pm

Im white british. My base is only SGD 2000 (accomodation thrown in), anything over being commission.

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singaporeflyer
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Postby singaporeflyer » Sun, 08 Apr 2012 6:29 pm

zzm9980 wrote: at least three tax statements.

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Postby zzm9980 » Sun, 08 Apr 2012 7:33 pm

doc1234 wrote:Im white british. My base is only SGD 2000 (accomodation thrown in), anything over being commission.


Definitely need to wait the three years. And your take home will probably need to be significantly more than that to have a good shot. (Housing allowance doesn't count)

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Postby sundaymorningstaple » Sun, 08 Apr 2012 11:08 pm

OP said getting, not got. I'd be surprised if he even gets an S pass as that is the minimum salary requirement for an S pass. Sure not much to offer the Country that I can see. I doubt if the ICA will see anything either.

IF he gets an S pass and his tax statements for the next couple of years show whopping incomes due to commission, he may be in but it going to take at least two years to show them he's not a flash in the pan.

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Postby zzm9980 » Mon, 09 Apr 2012 7:23 am

sundaymorningstaple wrote:OP said getting, not got. I'd be surprised if he even gets an S pass as that is the minimum salary requirement for an S pass. Sure not much to offer the Country that I can see. I doubt if the ICA will see anything either.

IF he gets an S pass and his tax statements for the next couple of years show whopping incomes due to commission, he may be in but it going to take at least two years to show them he's not a flash in the pan.


Does MOM factor in expected commissions at all into passes though? I have some local friends who make a bit more than OP in base, but make more than me half the time thanks to sales commissions. I thought OP's base was low too, but assumed MOM approved the pass based on some commission thing.

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Postby sundaymorningstaple » Mon, 09 Apr 2012 8:39 am

Commission is $0 in the eyes of MOM. Only basic salary is computed. Your friend, unless his base salary is over 7K probably has a lesser EP rating than you do as well even though the gross salary is sometimes more. Should the economy tank, commissions are likely to disappear or dry up. Therefore, rightly so, MOM shouldn't use them as a guideline for the granting of EPs.

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Postby zzm9980 » Tue, 10 Apr 2012 11:49 pm

sundaymorningstaple wrote:Commission is $0 in the eyes of MOM. Only basic salary is computed. Your friend, unless his base salary is over 7K probably has a lesser EP rating than you do as well even though the gross salary is sometimes more. Should the economy tank, commissions are likely to disappear or dry up. Therefore, rightly so, MOM shouldn't use them as a guideline for the granting of EPs.


She's SG citizen, not FT, sorry wasn't clear on that. Just used her as example though to since her take home can vary widely.

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Postby ecureilx » Wed, 11 Apr 2012 11:54 am

SMS is right ..

years ago, when my career took a dive for worse, swing, I was offered a job as a Pre-Sales Engineer, and my then (small size) employer had posted my pay as 2,000 plus commission - when the S pass system was just hot off the press ..

Instant rejection, and then an appeal was sent saying that, based on my current prospects and pipeline etc. etc. the company did give an undertaking that my commission would exceed 5,000 $ a month .. etc. etc.

MOM rejected again .. and when the employer sought an interview, the answer was something like "we don't go by possible salary - if you are sure he is going to earn that much, then increase his base pay to 2,000 + 5,000 .. "

The employer was not happy ... MOM was not happy, and me - I found another employer who had more moral fiber - than swimming against MOM rules .. and made myself happy ..

base pay is all that they consider - all else - allowances, commission is looked at but, their stance is - all else can be revoked ..

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Postby JR8 » Wed, 11 Apr 2012 3:41 pm

I'm curious what such a kind of 'financial advisor' job entails. What is being sold, and why can't a local do it?


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