If I were you, I would use Maybank SG or CIMB SG to bank in my salary, and have a corresponding MY account in JB. You can use the Sg ATM card to withdraw cash in My where most of your spending will be. Saves you the trouble of changing money. Having accounts with the same bank on both sides allows you to move very large amounts of money across the causeway within the same day if necessary, very conveniently and securely, and straightaway use it to pay large bills in My using ibanking as well. Both MBB and CIMB give better savings interest rates than local banks, free cheques and credit cards with more promotions if used in My.

Then if you want an account for emergency use when you're in Sg, open one at the UOB near your workplace. You can use internet banking to transfer money into it. It's free. I also like Std Chartered because their ibanking can pay credit card bills issued by other banks. That means I can get cc from other banks and never have visit their branch or atm nor mail any cheques to pay. After receiving the promotions and waiting for the lock in period to expire, just call and cancel.

This post has been edited by seantang: Nov 6 2011, 06:01 PM

You'll need a work pass to work in Sg, even if you're just interning. It's a matter of whether the hiring company wants to do the paperwork for you and whether they have reached their limits for foreigners. My company hires lots of finance interns but never from overseas. Too much hassle for too short a period and too little contribution. No shortage of top students from local unis applying too, which makes it even harder to justify the time and effort for a foreign intern.

All we know is that dunno who has nearly 2 years in dunno what investment banking at dunno where and have bombed out 50+ times.

What insight can anyone give based on info like that?

This post has been edited by seantang: Nov 7 2011, 03:52 PM

I dare say if you have the money to buy a lambo (in my or sg doesn't matter), you have the financial wherewithal to retire practically anywhere. With that kind of money, Sg is just as exciting & affordable as My and My will be just as safe and systematic as Sg.

For you and I however, it's a matter whether you're driven by your retirement or your children's future. With the limited money we have, My is simply more bang for the buck despite the safety and racial concerns. S$10k per month pension in My will get you a lot of safety and "cooperation" from other races but in Sg, you are barely above middle class. However your children's education and future is better in Sg. Or you let your children study in Sg, and by the time you retire, you do your thing and they do theirs.

If you're moderately successful, the option of early retirement back to your hometown to get away from the rat race comes up when you reach late 30s or early 40s. That's also when job stress really starts and that dalai lama quote about trading health for money begins to come true as well.

Will you go back?

TalentCorp: Returning Experts Program

Criteria*Letter of support from companies to waive this requirement welcomed.

- Currently employed and residing overseas at least up to three (3) years prior to application;
- Internal Transfer within the same group of companies is also allowed provided applicant has been based overseas for a minimum period of five (5) years. (seantang: this one is interesting...)

Benefits

- An optional Flat Tax Rate of 15% for Employment Income for five (5) years;
- Tax Exemption for all personal effects brought into Malaysia;
- Two (2) locally assembled/manufactured Completely-Knocked-Down (CKDs) vehicles tax-free;
- Foreign spouse/children are eligible for Permanent Resident (PR) status within six (6) months;
- Foreign-born children or children already studying in an international stream overseas allowed to enroll in any international school of choice in Malaysia.

This post has been edited by seantang: Nov 8 2011, 05:00 PM

Of course or what lah.

It says that you're allowed to enroll, not that the government will pay for it.

Quite different for MNCs. There are only 3 reasons why they set up big orgns in Sg. It's either talent availability, structural freedom or cost advantage.

Sg is cost disadvantaged. So that's out.

It's only talent availability and structural freedom. Both of which where a large employee pool driven by the freedom of corporates to bring people in and out is critical.

What Singaporeans seem to be forgetting is that they have no ability to consume what they produce. It is the families and home countries of the so-called foreign trash who buy their shit. Singapore can't even replenish its ranks of employees, much less grow the domestic market.

They talk a lot of crap about their public amenities being overloaded by foreigners. Without these foreigners, Singapore's economy would be a less than half the size it is now, and half of these amenities won't exist in the first place.

So yeah they'll b**** and whine, but there can't be any drastic change unless Singaporeans accept the reality that the economy will be smaller, there will be less high income jobs and opportunities and Singapore will have to punch well below its current weight class in terms of negotiation power.

Sucks when you don't have flash, no? Anyway gothere has a mobile site.

Yup. Will still suck not to have flash for quite a while longer though.

Employer contribution is less than the employee contribution. 16% for employer vs 20% for employee, IIAM.

What minyak wangi said.

At least 8K a month for a comfortable lifestyle. 4K for rental, 2K for a car and around 2K for food and bills. Maybe another 4K for entertainment (a thousand each weekend is pretty decent... easily blow $500 for a dinner for two at a decent restaurant).

Try Imperial Treasure Nan Bei in Ngee Ann City level 5. Near Best Denki.

Call early and book the private room.

If you don't go for anything fancy, just dim sum etc... it'll be about S$20-30 per head. Basically pretty authentic HK cantonese food. The people from my office usually bring visitors there for the consistent quality, proximity to office etc. It's also my go-to makan place if I must have "no surprises".

This post has been edited by seantang: Nov 14 2011, 11:30 AM

That's comfortable lah. Luxurious is like 20-30K per month. Rental alone for luxurious place is already 10K.

Of course we do. Each person has their own definition.

So when that chap asked... of course I answer using my own definition. Who the hell knows what he's talking about?

That's freshie salary. Freshies are not supposed to earn enough to lead 'comfortable' lives.

I don't know... how much can you eat?

Lunch can cost anywhere from $3 at a food court to $15 at Jack's Place. Both are considered normal daily lunch to a fresh graduate. Just depends on who you ask.

So, you'd wanna frame your questions better. Don't ask such open ended questions.

Do people you talk to normally tell you their salaries?