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 Working in Singapore V12, Yusheng - 23rd Feb (Saturday)

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seantang
post Feb 15 2013, 07:19 PM

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QUOTE(whatsayyou @ Feb 15 2013, 07:07 PM)
hi all. just got the letter of offer. it states annual salary, including AWS. This would lower the monthly salary. If I divide by 12 mths, then it would meet my expected salary. Shouldn't the AWS not be included in the annual salary?  Thinking of calling HR to enquire about this.
Also no encashment of em'er portion of CPF... Hmmm...
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They already told you the total annual package. Can't get much clearer than that.

Whether you take that annual amount and divide by 12 or 13 is inconsequential.

What you want to do is negotiate. Go back to them with the expected annual package you want. That would be crystal clear for everyone. But if you want to minimise your CPF contribution and maximise cash in hand, you'd want to have maximum Jan-Dec salary and zero AWS. But you lose the employer contribution as well.
seantang
post Feb 16 2013, 11:48 AM

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QUOTE(deodorant @ Feb 16 2013, 01:18 AM)
correct. cpf contributions for PR / citizen onry.
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Ya. My cart ahead of the horse abit bit there.
seantang
post Feb 18 2013, 04:04 PM

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QUOTE(whatsayyou @ Feb 18 2013, 03:42 PM)
for salary negotiation, how should one start the opening sentence?
for eg they have offered u $xxx per annum. But you would like a higher figure.
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Thank you for your offer. But it is significantly below....

<use if you want them more than they want you>
...what I expect given the job size and your expectations, compared to what my peers in similar jobs are being paid elsewhere.

<use if they want you more than you want them>
...what would constitute a significant PULL factor for me to consider leaving my current employer. There is currently no PUSH factor for me to leave.

This post has been edited by seantang: Feb 18 2013, 04:05 PM
seantang
post Feb 19 2013, 06:54 PM

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Just booked my Firefly tickets to Ipoh on Good Friday weekend as well. One way to Ipoh on Good Friday morning itself is already RM517. If you fly back on Sunday, another lima ratut burn. I had to choose fly out on Wed, and fly back on Mon to bring the return fare below RM700.
seantang
post Feb 19 2013, 09:34 PM

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Good news I guess for wannabe bankers...

QUOTE
BNP Paribas wants MBA grads and Big Four accountants for Asian jobs

by Simon Mortlock4 days ago

Aiming at Asia

If you’re an MBA graduate or work at a Big Four accounting firm, BNP Paribas in Asia could be the bank to apply to. As reported yesterday, the French firm plans to hire 1,300 people in Asia over the next three years, but it faces an industry-wide talent shortage in two of the functions it’s trying to grow: trade finance and cash management.

While BNP did not respond to questions about how many people it needs in these two sectors, a Singapore recruiter, who asked not to be named because BNP is a client, said recruitment will be “in bulk and therefore focused at the junior and mid level.” This leaves the door open to financial professionals who want to nab their first role at a bank, he adds.

“For associate positions and the like, it’s hard to hire people in Asia with trade-finance or cash-management experience,” said Farida Charania, chief executive of Singapore search firms Nastrac. “There just aren’t many of them available because it’s a solid revenue stream for many banks, with few layoffs.”  Banks find it easier to hire accountants from one of the Big Four firms or recent MBA graduates and train them themselves, said Charania.

BNP’s hiring plans are tied to a strategy to grow revenue in Asia from investment solutions, and corporate and investment banking (CIB) to more than €3bn by 2016. As well as cash management and trade finance, this includes expanding BNP’s Asian franchises in fixed income, equities and advisory, private banking, and insurance, according to a statement from the firm.

The French bank’s hiring plans are cold comfort for recently retrenched senior investment bankers in Asia from the likes of Barclays and Morgan Stanley. First, only about 5 percent of the new BNP recruits, around 65 people, are expected to be at director level or above, said the anonymous Singapore recruiter. Second, he said, BNP has traditionally preferred to parachute in French staff to fill leadership roles in Asia, rather than recruit new people – Pierre Veyres, the Singapore-based head of global transaction banking, is a prominent example. Third, headhunters don’t believe that the new hiring will push up salaries. “Given that most banks are experiencing instability, a premium is not necessary to bring talent on board,” said Annie Yap, group managing director of Singapore headhunters AYP Asia.

BNP would not comment on how the new jobs will be distributed across its 14 Asia Pacific markets, but Singapore, its regional hub, will probably be the biggest beneficiary. “I believe Singapore and Hong Kong will look at easily taking 50 to 60 percent of these roles,” said Yap.

http://news.efinancialcareers.com/134620/b...LYPOST_FEB_2013

seantang
post Feb 23 2013, 08:38 PM

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QUOTE(xtylish @ Feb 23 2013, 07:56 PM)
yea. not worth it eventho i do not need to pay high rent. because i think i am underpaid if i take that job. i need to pay rent or not is not the issue here.
Not really.

Whether you're underpaid or not depends on the options available to you.

If there is someone else who is willing to pay you more than 1.7K, then you're underpaid. If you have no other offers and nobody else is interested in you, then you're not underpaid. You are ONLY paid... 1.7K.

QUOTE(xtylish)
i decided to enroll myself in japanese language course and take jlpt (internationally recognized paper).

will it help me in the future in singapore?
In a word,.. no.

Assuming you currently have no proficiency in Japanese, the time and effort you need to expend in order to learn Japanese to a professionally acceptable level is way too high, compared to the return or advantage that you will gain from being able to speak Japanese in Singapore.

If you want to learn a language, I suggest to concentrate only on English and/or Mandarin.

If you are good in English, learn or improve your Mandarin.

If you are good in Mandarin, improve your English.

If you're half past six in both English and Mandarin (like 90% of the Malaysians here), then improve your English first before improving your Mandarin.

If you are very very good in both English and Mandarin... don't waste time and effort learning any more languages at a professional level. Using that time and energy to get a professional qualification or getting a higher degree will yield much better return on investment.
seantang
post Feb 23 2013, 09:39 PM

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QUOTE(xtylish @ Feb 23 2013, 08:44 PM)
that company hired me on the spot, and its my first interview. i can always find more interviews then only decide on which job I will take in the future.
Well, get more data points first before concluding you're underpaid. Who knows, the other companies might only offer you 1.5K or 1.6K.

QUOTE(xtylish)
as my mandarin and english is fine enough.
Ermmm... for business writing in a MNC environment... your English needs some work.
seantang
post Feb 24 2013, 01:05 PM

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QUOTE(deodorant @ Feb 24 2013, 10:55 AM)
Fuuuuu I am sadding liao. Based on my last year filing I'm not even higher than the median sad.gif

Your annual income... is higher than 37.9% of all resident taxpayers.
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No worries lah. Singapore has some serious hard hitters when it comes to income. There are lots of global and regional roles here and even the local companies have some fairly high salaries for senior roles. Additionally the govt servants are right up there with everyone else. And there's no hidden segment of uber-rich politically connected people who evade tax in Singapore unlike Malaysia's politicians, their families, the 10 royal families and their forever multiplying kerabats, politically connected business people, senior govt officers etc.

This post has been edited by seantang: Feb 24 2013, 02:15 PM
seantang
post Feb 24 2013, 01:11 PM

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QUOTE(megadisc @ Feb 24 2013, 12:14 PM)
me fearing worst after this month

kena let go...
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If you don't mind answering, what industry are you in? Or if possible, which company?

I'm beginning to see some belt tightening happening in the chemicals/polymers industry... mainly expenditure control for now, like travel restrictions, taking back company mobile phones etc. That's usually a precursor to retrenchments later on unless something picks up in the economy.

seantang
post Feb 24 2013, 06:39 PM

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QUOTE(kidmad @ Feb 24 2013, 05:31 PM)
Need some advice on the fix expenses in singapore before deciding to accept the job offer or otherwise.?
Studio apartment rental: Around tampines SGD 2k+- No offence but at your salary range (ie. below S$120K), you really should be thinking something around S$1.5-1.8K HDB or condo in a less popular area. You're planning to spend 20%+ of your gross on rental... a more comfortable ratio would be 10-12%, 15% max. Additionally, if you're going to spend $2K+ on accommodation, you might as well buy.
Food: SGD1k for 2 Depends on what you eat lah... My lunches in Orchard are typically $15-20 in 4 out of 5 days. Only do food court <$10 only 1 out of 5 days because my lunch buddies don't like them. To be honest, neither do I. And if you like some dining... eg. Japanese, Italian etc... a nice average meal for 2 is easily $60-100. Hell, even something like Swensens or similar to Kim Gary is easily $20-25 per head. An ice blended and slice of cake at Starbucks is $10. I'd budget $20 per day per head (assuming you will religiously eat at least 1 chap fan a day, otherwise $30 per day and $200 per week for eating nice during weekends, especially if your partner is 'particular'.
Broadband: $20-50 per month for mobile broadband is more than enough. Only need cable bb if you torrent or game.
mobile data plan: <$50 per line per month
transportation: SGD200 for 2 OK if you do 100% MRT and bus. A taxi ride from Orchard to Tampines is around $20 during peak ie. when you go to work and after work
Utility Bills: SGD200 - with basics like aircond and washing machine OK
Other matters: SGD300 - just in case shit happen and need to use the money. Depends on how smelly the shit is
CPF: ? I think for those with EP this is not entitled yet right?Yup
Income TaX: Below the bracket of SGD120k it's just a direct deduction of SGD4.5k from the total payout or is there a much complicated way to calculate this? Seems to be much lower as compared to Malaysia when it comes to income tax.It is much lower. But you do pay 7% GST, so it's good if you're a saver vs spender.

QUOTE(kidmad)
Any other expenses which I have to be aware of thus far?
You should budget maybe S$50 per week per head for groceries, toiletries and other knickknacks. And also budget some money for taxis... maybe 2 rides per week, when it rains, or your partner is throwing a tantrum about having to stand in the trains, bangla smelly etc.

Lastly... do you like to buy... stuff? Does your partner like to buy stuff? A new phone each year, a new bag, Mac book air etc etc... you should budget something for 'stuff'.
seantang
post Feb 24 2013, 09:02 PM

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QUOTE(kidmad @ Feb 24 2013, 08:00 PM)
As for the accommodation i actually wanted to look for something as low as possible. Checking into prop guru in SG the cheapest i can find is bedok reservoir but as according to my cousins in SG it's not a good place cause dead bodies were found last year?
Worse people to ask about accommodation for people like us are people like them. Locals have families, parents who do things for them. Things which we need to do ourselves. They probably have access to a car, live in houses already fully stocked, perhaps have a maid.

When I first needed to find my own place to stay, my Singaporean relatives showed me places in Bukit Timah, Farrer Road, East Coast etc. Places with nothing nearby, little public transport and expensive. No problem if you have a car and looking for some quiet, near trendy areas like Holland Village etc.

As for Bedok Reservoir... you're not renting the reservoir. Why exclude the entire area? Afraid ghosts will come up from the reservoir?

QUOTE(kidmad)
Broadband: checked - Singtel?
Mobile Data Plan: checked - Singtel as well?
All Telco have exactly the same plans at practically the same price. Choose whichever one has the cheapest rates for employees of your company (many larger companies in Singapore have worked out discounts with the Telcos for their employees' personal lines).

QUOTE(kidmad)
Transportation: SGD200 will be budgeted for both of us daily/weekend rides. As to commute back and forth to work, the shuttle will be picking me up at my place and sending me home as well as long as I'm living in these few places.
Oh, you'd probably need to budget for trips back to Malaysia.

QUOTE(kidmad)
Yes i always change my phone and usually it comes in PAIR.  doh.gif  but that's all i spent.
There'll be iPads, watches, shoes, bags etc etc. There always is.

This post has been edited by seantang: Feb 24 2013, 09:03 PM
seantang
post Feb 26 2013, 09:53 PM

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QUOTE(alaskanbunny @ Feb 26 2013, 09:22 PM)
No lah, Sakae Sushi is with AIA what.
seantang
post Feb 28 2013, 08:12 PM

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QUOTE(tyj82 @ Feb 28 2013, 03:34 PM)
Resale flat for HDB route just tighten.
Starting 12 Jan 2013. PR need to pay additional 5% stamp duty. means 500k HDB is 25K.

I am not  seeing the price of COV goes down as PR need to complete with Singaporean
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Prices in the mainstream property segment (HDB to private <$1.5M) did not go down at all in 2008-2009, during what was billed as the worst depression in living memory. What makes you think that something as inconsequential as cooling measures will reverse prices? Slow it down a bit, yes... reverse it, no.

Besides being land scarce + immigration friendly, it is also an open market (foreigners can freely buy & sell private property) + safe haven for all Chinese (China, HK & Taiwan Chinese fearing the Communist govt, to overseas Chinese fearing repression from locals in their host countries). It's like the Chinese Israel.
seantang
post Mar 1 2013, 05:39 PM

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QUOTE(zephyrus9999 @ Feb 28 2013, 08:44 PM)
Guys i have a question, I am nearing my graduating soon and would love to work in singapore. As we know most company would at least have recruitment systems that require you to be physically there rather than conventional phone interview (not small company at least). How did you guys manage to risk getting all the way to SG and returning home empty handed?
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You need to compete with the locals.

Unless you have demonstrably more skills, talent, knowledge than the locals, you need to do whatever they do, be available like how they are available, in order to compete effectively.

Imagine, A sells Magnolia ice cream, B also sells Magnolia ice cream. A's store is next door but B is 5 km away from you. If you wanted to eat ice cream, would you prefer going next door to A or walk 5 km to B?
seantang
post Mar 2 2013, 12:38 PM

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Singaporeans are antagonistic towards blue collar labourers not because they want their jobs, but because they don't want them in their MRTs, buses, shopping in their shopping malls, eating in their food courts and basically living in their community space. They want them to be seen (do the donkey work) but not heard.

They are also antagonistic towards PMETs because of the perception they compete for the same jobs, same facilities (cars, property etc). To a certain extent, of course we do, but they conveniently ignore the fact that if we weren't here, those PMET jobs that we have, wont be here as well. It's not as if we all weren't here, all our employers would simply stay put and hire only Singaporeans. They'd simply invest somewhere else.

This post has been edited by seantang: Mar 2 2013, 12:39 PM
seantang
post Mar 2 2013, 06:51 PM

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QUOTE(alaskanbunny @ Mar 2 2013, 05:23 PM)
This is just a no-consequence, no-impact, no-meaning response that does not represent the views of the majority of people who commented on this post in FB.

Some of those comments are sickening. One woman commenter even complained that foreign workers were following her when she walks, when she jogs and when she cycles. I mean... WTF? doh.gif


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