Living expenses and Tax for foreigner

[hanabie]

Hello,

I recently got a job offer from an Oil Gas Coy in Singapore as a management trainee. I have heard that this position is quite scary because it is too gimmick. It is only worthy if the company is a MNC. What do you considered as MNC? The company has many branches in Asia but none in US and Europe. The company also have shares in Singapore stock market. The market gap is about 400 Mill USD. The number of employees is approximately 1200. Is it worth a try?

Anyway, I have been offered SGD2500 monthly. I'm not sure if that is enough to survive in Singapore as a foreigner.

How much money can I save monthly If I just work and eat.

What would be my income tax? Will I get taxed monthly or yearly basis?

Thank you for your time

[the lynx]

Hello,

I recently got a job offer from an Oil Gas Coy in Singapore as a management trainee. I have heard that this position is quite scary because it is too gimmick. It is only worthy if the company is a MNC. What do you considered as MNC? The company has many branches in Asia but none in US and Europe. The company also have shares in Singapore stock market. The market gap is about 400 Mill USD. The number of employees is approximately 1200. Is it worth a try?

Anyway, I have been offered SGD2500 monthly. I'm not sure if that is enough to survive in Singapore as a foreigner.

Management trainee eh? If you're from Asia, this amount is pretty average. Sucks, I know.

How much money can I save monthly If I just work and eat.

Depends on how you spend on living expenses. If you go by recommended saving proportion (30%), you should be able to. Break your 2.5k down to 500 for food, 600 for single room HDB rental in decently-flung areas, 200 for MRTs and buses, 200 for toiletries etc, 150 for mobile and internet package, 100 for emergency and voila, you have 750 to save on.

Just a rough estimation.

What would be my income tax? Will I get taxed monthly or yearly basis?

Yearly. If you are as paranoid as I am, you can set aside a small sum every month to pay off income tax when assessment comes. That way you don't have to cut a huge chunk in a single month to pay, or you don't have to adjust your lifestyle when your assessment comes.

Thank you for your time

Welcome

[zzm9980]

Good news:
You won't owe any taxes on that income.

Bad news:
That's a rather low income depending on your life style. Where are you from? Is that a good income in your home country? If so, you can probably live frugally and save some good money for something back home.

MNC? I would say not for a company that small. It technically meets the definition, but the commonly accepted usage is a major corporation based in the west, and probably on the Fortune 500/1000.

[zzm9980]

Also on that salary you'll only qualify for a WP, not an employment pass. Read about the various caveats in that on MOM's site.

[the lynx]

Good news:
You won't owe any taxes on that income.

Nope, he still has to pay income tax, albeit a very small one. Based on the tax calculator from IRAS, he should be looking at paying less than SGD300 in income tax should he made it to the assessment.

That if, provided he doesn't receive other benefits, commissions etc...

[hanabie]

I'm not sure about management trainee in Singapore.
Is it too gimmick? I heard nothing but negative things.
The company has its own public traded stock in Singapore stock market.
I checked it has 400mil sgd market gap and 1200 employees.
It is kinda insane to accept that offer without knowing much the work environment.

That is why I'm here .. I know that I could get at least something..
I don't look 2500 as my starting salary. I want good working experience that will be a good investment for my future. I never look myself as a 2500 employee after a year. That is pointless, and by that time I probably move on.

[zzm9980]

Good news:
You won't owe any taxes on that income.

Nope, he still has to pay income tax, albeit a very small one. Based on the tax calculator from IRAS, he should be looking at paying less than SGD300 in income tax should he made it to the assessment.

That if, provided he doesn't receive other benefits, commissions etc...

The IRAS 2012 chart showed S$200 tax on S$30000 in income. However, that amount is before adjustments/deductions that I thought everyone got.

[JR8]

Is it too gimmick?

Can you explain what you mean by this? It is at the heart of your question and is rather confusing.

[hanabie]

Are they really going to train me to an executive position? or just pull me to their sales.
my background is mechanical engineering. It's pretty scary to imagine that I do not have technical skills when I decide to move to another job someday.

[JR8]

Are they really going to train me to an executive position? or just pull me to their sales.
my background is mechanical engineering. It's pretty scary to imagine that I do not have technical skills when I decide to move to another job someday.

Ah I understand. Do you know how long this management training scheme has operated for? Is it possible to meet or talk to others who have been on it?

[hanabie]

Are they really going to train me to an executive position? or just pull me to their sales.
my background is mechanical engineering. It's pretty scary to imagine that I do not have technical skills when I decide to move to another job someday.

Ah I understand. Do you know how long this management training scheme has operated for? Is it possible to meet or talk to others who have been on it?

He just gave me a rough estimation.
I would be working this position for A time, that position for B time and finally management position. He said it depended on how well I grow and adapt with the company.

However, I emailed them and asked for more details about my job description.

I understood it's really crazy to accept that offer without knowing my job's description well. I just want to try to lock the deal and think later.

I also have the remorse feeling that I could not meet at least 3k salary.
Is it too late to send an email for 3k as I have agreed to join? I do not know how Singaporean companies operate when it comes to salary negotiation. Is it more like "take it or leave it" situation?

Thanks again

I do not see the money again, but I just want to live comfortably without monetary pressure in a foreign country.

My living style is simple. I do not eat outside because I exercise and watch my daily calories intake. Technically, I'm strict with my diet. That is how I maintain low percentage body fat. I do mingle, but I don't drink and party on every weekend. I need a comfortable place and relax during my days off. I prefer to spend time with family or close ones.

So yeah, lynx was right. That is basically how I'm gonna spend my salary. I can't imagine how you are gonna spend 200 on the toiletries.



Say.. I email the HR, and told him, "hey, that offer is too low. I apologize. I would like to have this number." Worst scenario he says no? or take back the offer?

Gosh... I hope I did not blew it.

[hanabie]

Are they really going to train me to an executive position? or just pull me to their sales.
my background is mechanical engineering. It's pretty scary to imagine that I do not have technical skills when I decide to move to another job someday.

Ah I understand. Do you know how long this management training scheme has operated for? Is it possible to meet or talk to others who have been on it?

He just gave me a rough estimation.
I would be working this position for A time, that position for B time and finally management position. He said it depended on how well I grow and adapt with the company.

However, I emailed them and asked for more details about my job description.

I understood it's really crazy to accept that offer without knowing my job's description well. I just want to try to lock the deal and think later.

I also have the remorse feeling that I could not meet at least 3k salary.
Is it too late to send an email for 3k as I have agreed to join? I do not know how Singaporean companies operate when it comes to salary negotiation. Is it more like "take it or leave it" situation?

Thanks again

I do not see the money again, but I just want to live comfortably without monetary pressure in a foreign country.

My living style is simple. I do not eat outside because I exercise and watch my daily calories intake. Technically, I'm strict with my diet. That is how I maintain low percentage body fat. I do mingle, but I don't drink and party on every weekend. I need a comfortable place and relax during my days off. I prefer to spend time with family or close ones.

So yeah, lynx was right. That is basically how I'm gonna spend my salary. I can't imagine how you are gonna spend 200 on the toiletries.



Say.. I email the HR, and told him, "hey, that offer is too low. I apologize. I would like to have this number." Worst scenario he says no? or take back the offer?

Gosh... I hope I did not blew it.

[JR8]

If you've accepted the position you can't now go back and try and renegotiate the salary. The other risk is they would say no, and also withdraw your original offer. Either way it would suggest that you don't really know what you want, or are doing.

Why not try the position for say a year and see how it goes? It could be a great opportunity. Also once you are in SG you will be much better able to see other opportunities.

[the lynx]

Why not try the position for say a year and see how it goes? It could be a great opportunity. Also once you are in SG you will be much better able to see other opportunities.

I agree with JR8's advice on this.

[Strong Eagle]

Actually, while the salary isn't great, many companies do exactly what you describe. The company I just finished hiring for brings in its new management talent and spends TWO YEARS moving these people into every facet of the company. The fact that you have been selected to participate in this kind of program suggests that they see a future for you.

What line of business is the company in?