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 Working Life in Singapore V3, FAQs, experience sharing, meet-ups

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hkhk
post Aug 29 2009, 12:43 AM

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QUOTE(da3xiah @ Aug 28 2009, 12:29 PM)
yep. i miss singapore for its clean air and environment, courteous people and very convenient (and punctual) public transport!
*
punctual ? not really.. but at least it's better than Malaysia
dveHetal3
post Aug 29 2009, 02:05 PM

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QUOTE(seantang @ Aug 28 2009, 08:24 AM)
If you just want to earn fast money, why do you want to become a PR?
*
Bcos of of the following reasons:-

1) Job security
2) Maybe wanted to jump to other company after working in this company for 1.5 yrs.

Let's say the company gonna retrench u next Monday, u cant still apply for other jobs based on your PR status.

Secondly, it is much more easier to apply a job as a PR than u are on a EP or WP.

So, if I can apply for PR and at the same time does not need to contribute CPF, that would be great.
seantang
post Aug 29 2009, 05:32 PM

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QUOTE(dveHetal3 @ Aug 29 2009, 02:05 PM)
Bcos of of the following reasons:-

1) Job security
2) Maybe wanted to jump to other company after working in this company for 1.5 yrs.

Let's say the company gonna retrench u next Monday, u cant still apply for other jobs based on your PR status.

Secondly, it is much more easier to apply a job as a PR than u are on a EP or WP.

So, if I can apply for PR and at the same time does not need to contribute CPF, that would be great.
Yes, it would be great... but maybe not.

If you need "money fast" like you said, and that $900/mth (max) is going to be a problem, then don't be a PR. You can't have your cake and eat it as well.

For me, I treat my CPF as a long term FD which matures at 55. I have to contribute 900/mth to this FD, but my employer also contributes 650/mth. Therefore, I invest 900/mth so that I get an additional 650/mth. It's a whopping 72% upfront return on investment. Easy money.

oks911
post Aug 29 2009, 05:49 PM

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QUOTE(seantang @ Aug 29 2009, 05:32 PM)
Yes, it would be great... but maybe not.

If you need "money fast" like you said, and that $900/mth (max) is going to be a problem, then don't be a PR. You can't have your cake and eat it as well.

For me, I treat my CPF as a long term FD which matures at 55. I have to contribute 900/mth to this FD, but my employer also contributes 650/mth. Therefore, I invest 900/mth so that I get an additional 650/mth. It's a whopping 72% upfront return on investment. Easy money.
*
Wow, your salary pretty high. SGD4.5k huh~ May I know your job title?
seantang
post Aug 29 2009, 06:14 PM

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QUOTE(oks911 @ Aug 29 2009, 05:49 PM)
Wow, your salary pretty high. SGD4.5k huh~ May I know your job title?
S$4500 is the maximum salary on which CPF is payable. That means that if you earn 10,000 salary, only the first 4,500 is eligible for CPF. The remaining 5,500 is not.

So, monthly CPF employee contribution is 20% of salary or 900 (20% of 4500), which ever is lower.


Added on August 29, 2009, 6:28 pmThe Price & Earnings 2009 survey by UBS is quite interesting to read.

This is a good measure of the earning power by city, I reckon:

QUOTE
Working time required to buy 1 iPod nano 8 GB, in hrs.

Bangkok 66.0
Beijing 73.0
Dubai 20.0
Hong Kong 19.0
Jakarta 93.0
Kuala Lumpur 52.0
London 11.0
Manila 128.5
Mumbai 177.0
New York 9.0
Seoul 22.0
Shanghai 56.5
Singapore 27.5
Sydney 9.5
Taipei 23.5
Tokyo 12.0

Methodology: Price of the product divided by the weighted net hourly wage in 14 professions
Having said that, I'm quite surprised by Sydney though. I don't think wages are so high in Sydney, even exceeding London and Tokyo. I reckon there must be an error.

Singapore and KL look right, with Singapore wages being ~2X. Singapore's bit too much below HK though, and I didn't think Taipei wages would be so high.

This post has been edited by seantang: Aug 29 2009, 06:40 PM
Mackiddo
post Aug 30 2009, 01:25 AM

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QUOTE(oks911 @ Aug 29 2009, 05:49 PM)
Wow, your salary pretty high. SGD4.5k huh~ May I know your job title?
*
SGD4.5 consider high ? you must be kiddin
oks911
post Aug 30 2009, 02:59 AM

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QUOTE(Mackiddo @ Aug 30 2009, 01:25 AM)
SGD4.5 consider high ? you must be kiddin
*
Yes it is high for me lar.. Paisek lo..
shamsul_LP
post Aug 30 2009, 03:44 AM

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QUOTE(Mackiddo @ Aug 30 2009, 01:25 AM)
SGD4.5 consider high ? you must be kiddin
*
quite high..so how much u earning if it still low?
dveHetal3
post Aug 30 2009, 03:58 AM

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QUOTE(Mackiddo @ Aug 30 2009, 01:25 AM)
SGD4.5 consider high ? you must be kiddin
*
SGD4.5K consider very low. Average Singaporeans earns about 8K to 20K a mth.

In terms of percentage of millionaire in a country, Singapore ranks 2nd behind Hong Kong whereby 24% of the total population of Singapore are millionaire. HK is 26%.
shamsul_LP
post Aug 30 2009, 04:56 AM

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QUOTE(dveHetal3 @ Aug 30 2009, 03:58 AM)
SGD4.5K consider very low. Average Singaporeans earns about 8K to 20K a mth.

In terms of percentage of millionaire in a country, Singapore ranks 2nd behind Hong Kong whereby 24% of the total population of Singapore are millionaire. HK is 26%.
*
but we not sg cry.gif
seantang
post Aug 30 2009, 10:10 AM

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QUOTE(dveHetal3 @ Aug 30 2009, 03:58 AM)
SGD4.5K consider very low. Average Singaporeans earns about 8K to 20K a mth.

In terms of percentage of millionaire in a country, Singapore ranks 2nd behind Hong Kong whereby 24% of the total population of Singapore are millionaire. HK is 26%.
Where did you get your statistics from?

From Singstat, 8-20K is the range of household income from the top 40% of households in Singapore. Your definition of "average" ignores the income level of the bottom 60% of households. More accurately, Singaporean households earn 7,750 on average. Additionally, a household means at least one, but frequently 2 working adults.

Attached Image

Here's a more applicable for individuals, although it was done in 2000. Only 5.2% of total salaried workers draw >8K per month.

Attached Image

1 in 4 people are millionaires? A bit too high, don't you think?
QUOTE
Number of S'pore millionaires could soar to 29,000 by 2011
Grace Ng
Thu, Oct 11, 2007
The Straits Times 

MEMBERSHIP in Singapore's 'millionaires club' is skyrocketing, with the number of people holding at least US$1 million (S$1.48 million) in liquid assets expected to hit 29,000 by 2011.

That will be an increase of 7,000 - or about 7 per cent a year - while their combined wealth is expected to swell from US$64 billion now to US$85 billion (S$125.4 billion) in four years.

The figures come from a report entitled Wealth Management In Singapore 2007 from London-based research firm Datamonitor. Its financial services analyst, Mr David Lalich, said this outlook was particularly rosy, given that the world economy is expected to slow down in the next two years.


This post has been edited by seantang: Aug 30 2009, 12:17 PM
dveHetal3
post Aug 30 2009, 07:31 PM

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Happy Merdeka to all Malaysians here.

Anyway forget about this country la, so far I see no hope and future in this country.
SUSkockroach
post Aug 30 2009, 08:18 PM

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What is there to celebrate for Merdeka, I think our life would be better off if we're still under British.
Celebrex
post Aug 30 2009, 08:55 PM

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Malaysia itself i think is pretty much an alright place, just that the ppl in charge is pretty screwed up... doh.gif
epicus
post Aug 30 2009, 08:59 PM

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emm..........can i know more about the condition to apply become a PR?

the website given not really clear.......


>.<
dveHetal3
post Aug 30 2009, 09:20 PM

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QUOTE(Celebrex @ Aug 30 2009, 08:55 PM)
Malaysia itself i think is pretty much an alright place, just that the ppl in charge is pretty screwed up... doh.gif
*
Malaysia still an alright place? U must be kidding. I feel ashamed that Malaysia losses to Singapore in everything.

Racial issues, political issues, crime problems, religion issues, rasuah, economic problems etc etc all screwed up... all not even on par with Singapore.

U tell me what have Malaysia achieved after 52 years??? Send a space tourist into the space?
giorgene
post Aug 30 2009, 09:40 PM

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QUOTE(dveHetal3 @ Aug 30 2009, 09:20 PM)
Malaysia still an alright place? U must be kidding. I feel ashamed that Malaysia losses to Singapore in everything.

Racial issues, political issues, crime problems, religion issues, rasuah, economic problems etc etc all screwed up... all not even on par with Singapore.

U tell me what have Malaysia achieved after 52 years??? Send a space tourist into the space?
*
Since u feel ashame of malaysia, please convert to be singaporean! U juz fxxk off from this malaysian forum!
Im always proud to be malaysian!
U complain so much, what actually u contribute to malaysia?


da3xiah
post Aug 30 2009, 09:46 PM

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QUOTE(hkhk @ Aug 29 2009, 12:43 AM)
punctual ? not really..  but at least it's better than Malaysia
maybe i should put "as opposed to malaysia", hahaha. here LRT takes forever to come (no need to consider KTM). and buses, if they even turn up at all!

This post has been edited by da3xiah: Aug 30 2009, 09:46 PM
SUSkockroach
post Aug 30 2009, 10:29 PM

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QUOTE(giorgene @ Aug 30 2009, 09:40 PM)
Since u feel ashame of malaysia, please convert to be singaporean! U juz fxxk off from this malaysian forum!
Im always proud to be malaysian!
U complain so much, what actually u contribute to malaysia?
*
I guess he meant Malaysian government but not Malaysia as a whole. But what makes you proud?
hkhk
post Aug 31 2009, 01:00 AM

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QUOTE(Celebrex @ Aug 30 2009, 08:55 PM)
Malaysia itself i think is pretty much an alright place, just that the ppl in charge is pretty screwed up... doh.gif
*
QUOTE(dveHetal3 @ Aug 30 2009, 09:20 PM)
Malaysia still an alright place? U must be kidding. I feel ashamed that Malaysia losses to Singapore in everything.
*
DveHetal3, please read the full sentence..
Malaysia losses Singapore, not because of the place, but the persons in charge & their subordinate, can;t make a proper management.
Just like my company is a good place to work, but the pay is lowest among the company coz the HR screwed up. doh.gif

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