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-   -   Wage comparison London/ Singapore (https://britishexpats.com/forum/singapore-131/wage-comparison-london-singapore-849109/)

Cav123 Dec 18th 2014 1:02 pm

Wage comparison London/ Singapore
 
Hello everyone
I was just wondering after doing some research what wages are like in Singapore in comparison to London. What I mean is: if I have a job that pays me £40,000 a year in London, if I had exactly the same job in Singapore would I get 80,000 sgd because of currency difference?
I know this is a rather difficult question as there are many variables you have to consider but a very rough estimate would suffice.

Many thanks

courboy Dec 22nd 2014 1:20 pm

Re: Wage comparison London/ Singapore
 
Bear in mind that whilst the currency conversion is easy to make, the tax rates are a lot lower in Singapore and therefore - putting aside for the moment the cost of living - you could theoretically earn less in Singapore and take home the same amount each month.

Clearly though, ignoring the cost of living would be silly and it is worth researching into whether this would impact things further for you depending on your personal situation.

For what it's worth, I am also based in London and looking to move to Singapore in the new year. My situation is more difficult because I work in commercial real estate development and the move isn't that easy to make as a result.

bonjovi Dec 27th 2014 3:53 pm

Re: Wage comparison London/ Singapore
 
The GDP per capita was $78762 in 2013 according to the IMF. Don't underestimate their wages!

MonsterP Jan 20th 2015 7:52 am

Re: Wage comparison London/ Singapore
 
Depends on many variables, i.e. the job you do / industry. Also, Single? Married? Kids? etc.

Also, how do you expect to get there? Company posting from the UK? Singapore is largely a closed door to expats these days with only very senior positions being considered to foreigners, e.g. MD, CEO, GM, etc. I've been trying for a year, whilst still in Asia, and even with my credentials and connections, there's been no luck.

SGD80,000 a year is just SGD6666 a month. That's a pretty poor salary in Singapore, which a good clerk or entry level assistant manager can earn.

Singapore just recently passed rules that foreign managers need to be paid at least SGD12,000/month or otherwise the job must be open to locals. Hence it's a good excuse for headhunters to avoid the expats and you see many advertisements saying 'only Singaporean residents or those with a current WP can apply'. Hence making it quite a closed door.

UK salaries are way way behind in reality, especially compared with the likes of Singapore and Shanghai. So, unfortunately, a £40k salary wouldn't impress them.

Your only real way in is with a relationship connection with someone who really wants to employ YOU, and will get around the hurdles to do so. Or, as mentioned, be posted from your homeland by your current company.

By the way, a reasonable, small 2 bedroomed apartment will cost you around SGD3500-4000/month out from the city.

Parnell Feb 21st 2015 6:12 pm

Re: Wage comparison London/ Singapore
 

Originally Posted by MonsterP (Post 11538888)
Singapore is largely a closed door to expats these days with only very senior positions being considered to foreigners, e.g. MD, CEO, GM, etc.

Singapore just recently passed rules that foreign managers need to be paid at least SGD12,000/month or otherwise the job must be open to locals. Hence it's a good excuse for headhunters to avoid the expats and you see many advertisements saying 'only Singaporean residents or those with a current WP can apply'.

How does $50k per month then equate? We are looking to fill a MD position but the "local" candidate pool is very poor.

Too clarify a lot of success as part of a team does not qualify. Nor does cost cutting to make budget.

MonsterP Feb 22nd 2015 2:39 pm

Re: Wage comparison London/ Singapore
 

Originally Posted by Parnell (Post 11572147)
How does $50k per month then equate? We are looking to fill a MD position but the "local" candidate pool is very poor.

Too clarify a lot of success as part of a team does not qualify. Nor does cost cutting to make budget.

Can you re-word your question? I don't quite understand.

Do you mean US$50,000/month as a salary in Singapore for an MD but cannot find anyone for the job?

Parnell Feb 23rd 2015 12:56 am

Re: Wage comparison London/ Singapore
 

Originally Posted by MonsterP (Post 11572769)
Can you re-word your question? I don't quite understand.

Do you mean US$50,000/month as a salary in Singapore for an MD but cannot find anyone for the job?

Sorry was having a rant too myself after interviewing yet another ego with aspirations not matching their skill set.

Question is surely equivalent of $50k per month should be enough to attract blue chip candidates?

MonsterP Feb 23rd 2015 1:16 am

Re: Wage comparison London/ Singapore
 
Well, I'm not sure where you're speaking from, if you're in Singapore, then you'll understand well. If you're in the UK, don't compare with UK salaries, which haven't moved for 10 years at least and which do not compensate for the jobs that people do there too.

If you do mean US$50,000/SG$68,000 per month, then of course that's a massive salary which you should easily be recruiting a well healed senior expat for that kind of money, I think in any industry, even O&G.

All depends on what your headhunters are telling you too of course.

ex reg Feb 23rd 2015 2:18 am

Re: Wage comparison London/ Singapore
 

Originally Posted by MonsterP (Post 11573335)

All depends on what your headhunters are telling you too of course.

I thought Parnell was a Headhunter the way the post was written as I couldn't understand it either.:rofl:.

I would think that any problem with filling the position might depend on whether or not the $50k per month was inclusive of accommodation, cars and other benefits.

Parnell Feb 23rd 2015 2:33 am

Re: Wage comparison London/ Singapore
 

Originally Posted by ex reg (Post 11573369)
I thought Parnell was a Headhunter the way the post was written as I couldn't understand it either.:rofl:.

I would think that any problem with filling the position might depend on whether or not the $50k per month was inclusive of accommodation, cars and other benefits.

Sorry again

My rant

Not head hunter but recruiting from outside Singapore.

Skyped 3 candidates and cant believe with so little experience they are commanding up to $750k base with 30% to 50% bonuses???

Easier to just run the operations from offshore

MonsterP Feb 23rd 2015 7:32 am

Re: Wage comparison London/ Singapore
 
I can only thing that it's the O&G industry at that level, maybe wrong.

Being in Singapore has massive advantages for business, particularly as 'everyone' is there. However, it does come with it's expense too, although I don't believe any more significant than Hong Kong is also, and HK is waining these days...

You might want to try nearer shores, such as Bangkok / Kuala Lumpur.

Moses2013 Feb 23rd 2015 9:02 am

Re: Wage comparison London/ Singapore
 

Originally Posted by MonsterP (Post 11573504)
I can only thing that it's the O&G industry at that level, maybe wrong.

Being in Singapore has massive advantages for business, particularly as 'everyone' is there. However, it does come with it's expense too, although I don't believe any more significant than Hong Kong is also, and HK is waining these days...

You might want to try nearer shores, such as Bangkok / Kuala Lumpur.

It's pointless to run a business in Singapore these days, as it's become far too expensive. Companies can't pay more and need to be competitive, but people need more to have a decent standard of living. You also have many restrictions for multinationals, so in coming years there will be less investment, that's why I don't see any advantages. Investment will now happen in other places, where rents are cheap for business and staff can afford living space.

MonsterP Feb 23rd 2015 10:09 am

Re: Wage comparison London/ Singapore
 

Originally Posted by Moses2013 (Post 11573555)
It's pointless to run a business in Singapore these days, as it's become far too expensive. Companies can't pay more and need to be competitive, but people need more to have a decent standard of living. You also have many restrictions for multinationals, so in coming years there will be less investment, that's why I don't see any advantages. Investment will now happen in other places, where rents are cheap for business and staff can afford living space.

I agree largely with you, I'm not defending it, it is just what it is at the moment in the current circumstances.
Yes, investment may start to move away, but no signs yet. It is, certainly happening in China though.
SE Asia has a wealth of attractive places for foreigners to work and have a happy, very good, family life, as long as companies continue to recognise the instability that goes with working in a foreign company.

Hope you got my private message?


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