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 Working in Singapore V15

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khchong81
post Dec 2 2013, 03:02 PM

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Hey all, need some guidance here since I got an offer to work in SG. Below is the details:

Basic Pay: SGD 10,000/month
Car allowance: SGD 1,000/month
CPF employer part: SGD 775/month
Sign on bonus: SGD 10,000 with one year bond.

Vs my current pay in Malaysia:
Basic Pay: RM 13,000/month
Bonus: 6 months for 2012.

The only downside about the SG offer is I will downgrade my job scope & title compare to my level in Malaysia.

1. What is the tax rate for my income in SG?
2. What is the average rental for a studio house in SG?
3. My office located at Newton road, where should I rent?
khchong81
post Dec 2 2013, 03:31 PM

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QUOTE(pinksapphire @ Dec 2 2013, 03:23 PM)
Wow, that's a lot after you convert it back to RM.
I know the feeling of downgrading in job level...sometimes you just got to see if it's worth it when it comes to dollar and benefits. Good luck!
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That's I am in dilemma. I work so hard in the past 8 years for current work level but need downgrade if go SG. Big decision.
khchong81
post Dec 2 2013, 04:10 PM

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QUOTE(pinksapphire @ Dec 2 2013, 03:38 PM)
Do you mind to tell me what industry you're in? 8 years and you got RM13k as basic, that's really high. And 6 months of bonus...I'm speechless, lol...
If I were you, I may go for the S'pore job. Sometimes we need to look past the job title if your goal is to earn more money. You get twice the money in RM even after minusing all the expenses in S'pore. But again, I guess you should also see if you like your new job scope.
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QUOTE(NoiZy @ Dec 2 2013, 03:59 PM)
For me I will take it. Imagine the money. (right now, I'm money driven, or at least for the next 3 years) whistling.gif
RM13,000 x 12 month + 6 months bonus = RM234,000/annum
SGD11,000 x 12 months x 2.5 = RM330,000/annum (you have extra SGD3,333/month which can be used for rental) - this haven't include AWS/bonus yet.

But then again, it depends, since you are that high up, will you be respected here after the downgrade?
Do you see any potential growing in other market instead of Singapore?
Family/Loans/anything pulling you back?
icon_idea.gif
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I am in FMCG industry. Background check on the company at SG, i am expected to fix a lot of problem & issue there. No free lunch. Haha....

And the jobscope was my previous role 2 years ago. I plan for a role in Europe in next 5 years. So, hard to decide and i need revert to them tomorrow.
khchong81
post Dec 2 2013, 04:34 PM

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QUOTE(Fiona Chin @ Dec 2 2013, 04:26 PM)
Tell your boss employer's cpf contribution is 16% now vmad.gif . That 775 is 15.5% long long time ago. Car provided? COE is around 80k now. And you need 50% cash to get a car. Tax around 20k for 200k income. Your sign on bonus need to be tax too. mad.gif
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Lucky i check here. Must talk to the HR person then. No car provided, i might need to rent a car for long term. My income in SGD didn't exceed 200k PA la. Still below 200k SGD.

I am married without kids, but plan to have kids next year. Is SGD11k per mth income will give me comfortable life in SG for my family with one kids?
khchong81
post Dec 2 2013, 08:24 PM

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QUOTE(RedSiglap56 @ Dec 2 2013, 05:30 PM)
At your current pay level and judging by the offer you claim to have received, you must be a high ranking professional.

It is very difficult to believe that you don't know the answers to all the questions you asked.

So, I think you are probably here to show off.
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Opinion survey is crucial in certain key management decision. Therefore, please stop giving unconstructive feedback and waste the bandwidth. Please don't feel butthurt and everyone have the right to seek for advice in this open forum. So, please respect others.
khchong81
post Dec 2 2013, 10:58 PM

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QUOTE(seantang @ Dec 2 2013, 09:22 PM)
Firstly, you are bring offered a SG salary that is S$0.85:RM1 which I believe is a fair deal if the SG role is same or similar scope as your MY role in the same industry & size of employer.

You have mentioned that your scope is perhaps smaller, which makes it an even better deal.

Then if you're in the same industry & similar size of employer, your bonus in SG should be about the same as MY. But maybe because it's discretionery, the interviewer might not have been comfortable putting that down in writing. But I believe it should be similar if the industry and size of employer are similar. Big boys typically play in the same pool.

So in terms of remuneration, I think you will simply make 2.X times in SG what you would have made in MY... in gross income, common currency terms. In after-tax terms, you'll make roughly 10-15% more than that due to the much lower tax rates in SG and the much slower progression of those tax rates.

Assuming you want to return to MY to retire, you would have earned double the RM in SG compared to MY, over the same period of time. With the ability to invest more, invest earlier, plus the compounding of those returns over time, you are talking serious money at your salary levels over a decade or two. Easily the difference of whether you retire in 15-20 years time with RM2-5 million working in KL vs retire with RM5-12 million working in SG. To me, it's a no brainer. I came to SG for the same reason.

Secondly, forget about the "downgrade"! Always measure your career in terms of how much you are worth to your pay master, not what he calls you. The former is worth its weight in cash, the latter is not worth the paper biz card its printed on. Yes.., you may have to educate some shallow recruiters who call you on what you are worth despite your lowly job title, or educate some shallow classmates & relatives during CNY or Hari Raya gatherings. But remember, the only thing that matters is your Net Worth at the end of the day. Not your job title, size of your office, or whether you share your secretary with other colleagues etc.
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Thanks for the advice. At least help me in decision making. Anyone know where to rent if I want close to Newton Road?
khchong81
post Dec 3 2013, 09:20 PM

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QUOTE(RecruitingTheBest @ Dec 3 2013, 09:27 AM)
If you're office is near the Newton station, try renting a place near Ang Mo Kio station. Reasonable distance and the support structure (cinemas/shopping/groceries/etc) all available nearby. The other place to look at will be the place nearby Bishan station. There you go.
Oh by the way, take the offer. Why?

1. Taxes in SG lower than MY, you're getting more in SG in terms of disposable income.
2. Living expenses, cheaper than MY. Do your math and even if you add your housing expenses in SG, it will be cheaper.
3. Cars aren't that expensive. Since you have an allowance of 1K per month, this amount is enough to cover the installment of your car. Why? Interest rates are much cheaper in SG. The only thing is you need some cash up front to purchase the car.
4. Future. Enough said.
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Hi all, i accepted the SG offer today. Start work on 6th Jan 2014. Thanks for all the advice.
khchong81
post Dec 4 2013, 11:23 AM

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QUOTE(razo2 @ Dec 4 2013, 10:01 AM)
Congrats biggrin.gif. I got the same start date as well at SG. Got one month of holiday.
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That's great. You will work in which industry? Where u plan to stay?
khchong81
post Dec 4 2013, 11:08 PM

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QUOTE(razo2 @ Dec 4 2013, 11:39 AM)
I be working for the offshore and marine construction industry. In charge of cranes.

Will be working at Jurong, already got a place at Lakeside. Pretty nice Malaysian family ^^ considering the fact I only pay partial rent when i go offshore training for my first 3 months. Lucky i got the last room.

Dont mind if i could ask which industry are you working at? Have you find a place to stay yet?
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I will be in consumer industry dealing with customer like Fair Price, Watson & Guardian. I yet to find my place to stay as my employer is providing 30 days free accommodation at hotel.
khchong81
post Dec 5 2013, 12:19 PM

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QUOTE(be_happy @ Dec 5 2013, 11:50 AM)
Are you working in marketing position?
What is your parental company name?
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I switch from Marketing background to sales as Sales generate more income. As for parental company, its MNC from UK with strong presense in South East Asia. Sorry, i can't reveal the name for now.
khchong81
post Dec 5 2013, 09:56 PM

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Anyone can explain how COE calculation work? Is it mean i need to pay SGD74k upfront no matter what price of the vehicle i purchase as long as in the same category?
khchong81
post Jan 7 2014, 02:50 PM

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I plan to change a sum of money for CNY. Any money changer in SG that offer good rate?
khchong81
post Jan 7 2014, 07:52 PM

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QUOTE(crazy25kid @ Jan 7 2014, 03:12 PM)
How large of a sum are u referring?
For every difference of 0.01 in the exchange rate with you changing SGD1k, it is only RM10.
Do you think it is worth the time and cost travelling around the island for that amount?
I recommend that you go checkout the money changers around you and see which one offer you better rates.
I know the money changer inside causeway point has very pathetic rates though... laugh.gif  laugh.gif
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Around SGD14K. I don't want change in Malaysia as the gap is quite big. Also, withdraw in Malaysia for my SG bank account, the rate even worst.
khchong81
post Jan 7 2014, 10:27 PM

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QUOTE(cherryl9 @ Jan 7 2014, 10:08 PM)
i have tried wire transfer, bank check, western union, paypal when i tried to use my foreign account's savings. what i found was that i lost tonnes when the local bank converted the $$ with their own rate instead of the spot rate.
I now withdraw money at ATM. This way, i get good rate, and i still have more after taking into account all the transaction fees my foreign bank charges.
I too think you can apply for a travel credit card that waives international transaction fees with you bank in Singapore.  A credit card gives you the BEST conversion rate. Not having to carry a big sum of cash around is a big plus point too.
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Need to give my mum cash for CNY expenses & few months expenses. Can't use credit card.


QUOTE(saihoe @ Jan 7 2014, 10:13 PM)
I just changed money for my SG trip, this is the rate I get from PJ (Malaysia) area hope it does help u.

Money changer Buy SGD: RM2.56
Money changer Sell SGD: RM2.59
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Buy SGD at 2.56 is good. Last week i saw only 2.53.


QUOTE(ndragon @ Jan 7 2014, 10:15 PM)
i believe the last time i saw in MV was 2.67/2.69 ...
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Got so high before?


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