Hello v20! First to reporting!

Aiyo, I haven't went to branch open OCBC already change. Looks like I need to find alternative liao..

The answer is there is nothing u can worried about because chances for u to get bonus is almost zero unless it is contractual bonus or in contract term. Bonus (Exclude contractual/employment term) is strictly discretionary. Even your boss confirmed your bonus $ and it is discretion until the moment the bonus $ credited into your bank account. This is corporate reality and of course there are some exception cases, where they do "charity" bonus to those leavers (which rarely happen). I am sorry if my feedback is harsh but what I am telling u is common practice not that I am being corporate citizen nor my job scope but purely feedback cause I gain nth from giving feedback here.

Not necessary, buy-out happen most of the time. Reason is simply too "cheap" to buy out than wait for months. Just imagine salary of MYR10k per month is equivalent to SGD3.2k, can easily buy two months.

Luckily u and your wife too! Its not common in most industry and companies to offer same equivalent of absolute amount, e.g. MYR1 to SGD1.

No, PR is personal identity not tagged to any company.

There is no minimum but at least 6 months and above as one of required doc is 6 months payslip. From what I heard, Malaysian have higher chance of getting PR compared to other countries as our culture, language, etc are almost the same which is an advantage to assimilate and localise to SG.
Print one side, it does matter. Formal doc should not be in two sided, exception e.g. appendix, glossary etc.
For myself, I submitted few months ago and not even close to one year in SG, result is still pending so can't say its right choice but good luck to me. Haha.

I don't think it works this way. Unless your YE2016 income is less than SGD22k? Otherwise, its mandatory to file your tax return. I saw u mentioned u worked almost a year in SG, assuming 9 months x 2.5k = 22.5k.
Nevertheless, suggest u to read up SG tax and at least basic knowledge, it doesn't work the same as MY tax except the progressive part.

This post has been edited by WallChecker: May 1 2017, 03:43 PM

Then u are definitely tax payer this year. Perhaps u should find out more from your friends, or colleagues or HR on this matter. U need to find out is your company under auto-inclusion scheme and are u on no-filling service. If u are on no-filling service, then no action is require until u receive notification of assessment. U will know how much payable tax for last year that time.

That is correct. Assessment Year of 2017 refers to 2016 tax assessment, in MY we called is EA Form 2016.
Read this one u will have your questions answered: https://www.iras.gov.sg/irashome/Individual...-Your-Tax-Bill/


What I mean is that u will start pay tax this year, for 2016 income assessment. NOA will come to u anytime now till Sept.

+1
Haha, in other word, 20% deduction of gross income. In long-run and to retire in SG is okay, but not so long-run may be headache too when it comes to leaving and want to withdraw the money. At least, may not be an issue for IwanAGP

U can check salary range via Glassdoor etc. Personally I think range is quite huge when it comes to skillset and expertise u have. If u are "top top" SGD5k is quite low for 8 years of experience. How much do u earn in MYR?

I believe its both, because of eligibility to own HDB.
http://www.hdb.gov.sg/cs/infoweb/residenti...ibility-schemes

Everyday after work back home and check, before bed mid-night check again the slot. Some said system will release those cancellation during mid-night time (No idea how true is this, mine wasn't mid-night but weekend). When they release new slot will be 6 months forward. Otherwise, get ready docs and wait people cancel and got release and u get u slot by skipping all those queues. What I did is "check every single day" and refresh whenever got time.


Yes, it really depends - Some people need "cash" right now than retire plan, not everyone the same. Some has medical expenses to cover for family, kid's education etc. Not everyone earn decent money after deducting their necessities, like housing loan back in MY for family etc.

What knwong said is true. U got it the other way.
https://www.cpf.gov.sg/Members/Schemes/sche...n-other-grounds




I agree on "most" people plan to stay in SG permanently, but not everyone walk that path to the end. Some people just have families to take care or commitment that they need to leave SG and their plan behind.
There are people that plan to retire elsewhere, due to family and alternative retirement plan as well.
I am not an expert, but an illustration, one uncle retired and got big sum of money in CPF at 60 years old, assuming he can lived up to 80 years old. He need to have at least 20 years of cost of living (with inflation year on year) and medical expenses (SG is rated world's top medical and expensive medical fees of course). The cost of living will be totally different after 60 years forward, hence they have no choice but to work part-time. Govt said "U don't work, u get sick and u got nothing to do, and got no money", so go to work. So, SG have Re-employment act, incentives for employing senior workers etc.
Assuming u can withdraw it in full, with FX to MYR. U can easily use the money to buy a landed house with 20 years of maid service, plus medical fees in suburban area.
Nevertheless, its my long personal view, does not mean that I plan to retire in MY, of course I would prefer retire and settle down in SG

Personally, I am not an expert in the Front Office environment and I can see some has offered good feedback to u. In term of nationality, there is not much barrier in SG compared to other countries, however it also created a very competitive landscape where u are competing with grads from all countries from world's top uni. I think funding tuition fee is not a question if u can afford to complete it. Based on IB total comp I think u can easily cover it within 1-2 years if u are high achiever. Remuneration wise, IB in Malaysia is definitely lagging behind compared to SG. I do agree with iceypain on sort of "reset" part as it is viewed as lesser value compared to a competitive environment. U can still achieve better total comp even with reset from MY to SG.


My personal view on the differences are mainly platform, sustainability and complexity. If u compare IB in SG and MY on these 3 elements, I believe there are huge gap which time spent in MY IB is not much valued in SG. The platform to run deals are so different between IB in MY compared to Swiss pure play. Products complexity is another level. 10M USD deals means differently on both sides.
Nevertheless, if u manage to start in SG definitely better than MY (The breakthrough part is true, ivy leagues are flooded in IB world). I understand there is leveling in IB based on experience/deals as well. Top uni is at least an entry ticket but portfolio and deals come after that.


Regarding to IB job market right now (My personal view) - I think it is not that good. Looking at high-level financial sheets from BB and Swiss pure play, those with high PTI had already done their major revamp on IB structure. They are left with core and quite "skinny" combining/hybrid of parts of IB, HF, GM, CM, FID etc. Some are still bleeding due to slow in exiting some parts of their "fats".
Recruiting definitely slower to none right now and I think people are just waiting market to picking up and hopefully soon.


Yes, connection and network are equally important especially in Asia.

Personally, I would take up scholarship mainly because half a million ringgit is big sum and secured job opportunity upon grad (A less risky option - different people has different risk appetite anyway). U have to look into terms and condition drafted on scholarship contract and what/how much compensation of breaking the bond. I'd assume a gradually decrease in payback.
But if u dare to take the risk, assuming everything goes smoothly, I believe u can fully recover your tuition fee in about 3-4 years.

First part is true, but MOM has right to challenge and deny application. Second part is true as well.


Can, sure can.. MYR500k = Approx. SGD160k. I don't have exact figure of IB analyst, but I can roughly guess their total compensation (including bonus) is more than SGD80k p.a. (Any IB banker here can correct me if I am wrong? )
Assuming flat 80k with no increment for next 4 years, that makes an average of 6.6k monthly.
Minus expenses for rental, living cost, statutory deductions and entertainment = 2.6k monthly (I know this may be huge amount for some - But let's assume expense for a Single bach and Ivy league grad).
If he/she has CPF/Pension plan, take home will be lesser, however actual earning is more than 80k p.a. now.
So, his/her saving p.a. is about 48k, and 4 years about 192k. Minus 160k of tuition fees.
That will leave him/her approx. 30k, for his/her vacation, saving, family, partners, etc.

p.a. = per annum.
Above is my personal assumption, definitely doable. Flat 4 years total compensation is unlikely, so gross income is higher over the years.

This post has been edited by WallChecker: May 28 2017, 05:09 PM

Your comparison is incorrect and I can assure u that only very few MY fresh grad (not from overseas uni) earn 3k and above in SG. Mostly started with around 2k to 2.5k.
If u are trying to make comparison, u should also compare background of these grads. There are people that apply for 10 jobs and received 7-8 offers, and some applied 10 jobs maybe received 0-2 offers.

This is not correct, not all MY operators had their lines enabled auto-roaming. Most prepaid are not on auto-roaming (may have additional charges just to activate roaming), and low end postpaid as well. Especially Umobile plans cause I have friends on Umobile and they have no signal when they came to SG.

This post has been edited by WallChecker: Jun 3 2017, 05:37 PM

At least for umobile it is not auto by default roaming activated anyway, https://u.com.my/plans/roaming-idd/roaming-rates. Not talking about other operators.

This is a mystery, no one know the answer. From my view, all depending how strong your profile matching their criteria e.g. languages, age, nationality, education, profession and of course marital status. I personally know a colleague got his PR approved after 7 months and another about 12 to 15 months I think..
Mine was approved recently, took 5 months to approve and 1 year in SG.

I agree on this based on my 5 years experience working in KL.
Local SG like to complain and u know why? Based on my observation, they have been living well and putting high expectation on everyone and everything. They never satisfied because always there is someone/something is better.
Local MY also always complain in KL, but got what use? Complain already also no use, u don't get then get out from here.
Quality of life is definitely better here, those who think KL is better. I challenge u to walk on pedestrian walk around KL city with your mobile on hand and LV/Prada or any branded handbag, see u will get rob or not.

Although disposable income is higher, something that I observed is salary/compensation are not able to catch-up with inflation rate & cost of living (especially medical, health and insurance). Those earn around $S5k/month can live comfortable in KL if they are earning about RM7k to RM9k (Please calculate this with a family size of 2-3 include spouse).


It depends. If u look pure 1:1 SGD may be lower saving in absolute number. One meal in SG can be as cheap as S$3, in KL similar meal is about RM5-6.
But like u said, lifestyle is different. If u want/plan to have same lifestyle enjoying in KL but working in SG, definitely KL is better option.
If u are good at managing your finance, saving RM100k is not difficult here. While working in KL, it take u few years to save up to RM100k (Assuming u have 3-5 years working experience).


Most of people drive to work in KL because damn lousy public transport (Accessibility, frequency, reliability). End up with horrible traffic jam.
But the mindset is without car u cannot go anywhere, so car become a necessity in KL.


U must be genius Someone got to be blamed for something, not going to say anything more since u may know SG better than me

bingo

To be honest, 1 year experience in SG earn SGD $3k is decent already. There are many Msian grad tried start career here mostly earning between 2.2k to 2.8k.
Personally, if u are looking one to one, i would suggest not to take this offer. Unless u can really let go of your mindset otherwise u will not happy coming here with a pay cut.

I fully agree on this.

The median pay stats is quite skewed, top world uni & 3 of SG uni usually command higher pay here. U can compare to median if u grad from one of those uni.
And it is really competitive here, especially some fast-paced industry and company, u will see people from US, EU and some APAC competing on same platform.

S Pass generally lower than E Pass. Not much difference however E Pass has less restriction in looking for room, opening bank account, getting mobile plan etc.
CPF is mandatory for PR and Citizen here.
Some companies do offer as cash/allowance and some even have their own trust/pension scheme mirroring CPF structure. However, from what I know most company doesn't provide anything extra.

This post has been edited by WallChecker: Jul 16 2017, 12:38 AM

1) It depends on how desperate u want the job or coming SG to work. Of course u can negotiate, but company has the right to decline too. It also depends on your seniority/job level and skillset as well.
Regarding 17% CPF, this reside at your end, not that company don't want to contribute but u are not PR or local.

2) EP is better than S Pass, although not much different. Type of pass is at MOM discretion and there is quota for S Pass.


To be very honest, let me ask u why do u want to work in SG? Based on your pay and experience personally I think u are better in MY.
If u are coming for money (aka conversion) that is fine, but are u able to accept the fact of pay-cut MYR vs. SGD? If not, then u will be happier in MY.
I will suggest u to read through previous pages of this thread and versions.. There few main factors that u need to take into consideration, especially lifestyle, family and friends (partner too if applicable), car (especially those driving), house and many more. For someone earning MYR7.7k in KL, he/she can live comfortably owning one 60k car and mid-range condo approx. 600-800k (For single status, not married).
U definitely will not able to enjoy and live that kind of lifestyle in SG with SGD5k.

Back to your question, I think SGD5k if slightly at lower end. But there is too much competition as well especially local grads, SG grads from overseas and Foreign talent (IT usually from India).
U will have better chance if u know someone inside and use them as network/connection to get job here.


Most people apply after 1 year and more in SG. Few of my friends/colleagues got rejected despite been in SG more than 2 years.
It depend on how strong your profile fitting into their criteria. Some people got PR in one year from the time they came to SG (bear in mind approval can take up to 5 months to 12 months).