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Old 07-01-2013, 08:19 AM
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Originally Posted by AmericanIT View Post
Solution Architect, Not a financial institution, i dont want to complain but my 145k seems low with my 12 years of experience. Am I wrong? i am still blind in the SG IT market. Anyone can help?
Would finance/banks pay more?
Actually it's pretty decent. From your perspective, there are actually 2 ways to look at it ie fair value inn Singapore and equivalent pay in the US.

In a Singapore context, at S $12k per month, u are definitely in the upper strata of pay scale, regardless of industry.

On an equivalent US basis, u are drawing about US $120k. Singapore taxes are c. 10% as and I believe u will be subject to US taxes for amounts above US $80k. So assuming no double taxation (need to check if there is anus bilateral agreement between us and Singapore Ontathis), you will be taxed at US rates of 35% (estimated) for c. US $28k ($120k salary less $12k Singapore taxes less $80k global taxation threshold). Based on above assumptions, your take home pay is c. US $98k.

this is equivalent to a pay of c. US $150k ($98 / 0.65) ... which is very decent pay in the US where US $100k jobs are considered high paying gigs (I spent close to a decade there).

Of course, u would feel a lot richer with a $98k take home there than u would here because cars and houses are so expensive here, but purely from salary perspective, u are doing very decently.


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