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job offer - salary for managing director role

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  #1 (permalink)  
Old 27-09-2014, 06:36 AM
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Default job offer - salary for managing director role

Hello all,

new to the forum, seems like a great source of information!

Reason for joining the forum and posting in this thread is that I have a job offer on the table that would require me to relocate to Singapore.

Also posted here, but not many replies, so trying my luck with a new thread.

Background information:

- 33 years old, German national, single, no kids
- been working for this stock exchange listed German engineering company for 8 years, 6 years in North America as a product manager, 2 years based in Germany as export sales manager responsible for Asian (SEA & China & Japan & Korea) market
- already familiar with local Singapore based staff and general company situation due to current job

Job offer is for MD for sales, heading the company together with MD Finance.
Singapore office is centralized office for SEA market, existing satellite offices in KL, Bangkok, Ho Chi Minh, Taipeh, Jakarta with staff between 5-10 ppl each, total shared responsibility of about 40 staff.
Mostly responsible for managing sales staff in above mentioned offices, very frequent travel (minimum 2 out of 4 weeks in a month on the road) within SEA required.

What would be an adequate salary to ask for considering above mentioned points?

Update:
First offer was S$ 10.000/month plus S$3000/month housing allowance.

I believe this (first) offer to be too low, for such a responsibility and considering above mentioned circumstances, compensation should be in the S$15.000-20.000/month range.


What do you think?

If you need more information than provided above to give a suggestion, please let me know.

Thanks for any feedback!

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Old 27-09-2014, 12:36 PM
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10k sounds very low for a true MD role. Is it an engineering firm too? Will you be responsible for sales of engineering equipment and services? Will there a pre-determined target bonus and/or commission rate? If you factor in these additional compensations, how much will the first offer's annual salary be?

3k for housing is quite low too. You won't get to stay in the better part of the CBD area without paying from your pocket.

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Old 27-09-2014, 01:04 PM
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Quote:
Originally Posted by tnkngn View Post
Hello all,

new to the forum, seems like a great source of information!

Reason for joining the forum and posting in this thread is that I have a job offer on the table that would require me to relocate to Singapore.

Also posted [URL="://forums.salary.sg/income-jobs/831-how-much-you-earning-per-annum-528.html#post56249"]here[/, but not many replies, so trying my luck with a new thread.

Background information:

- 33 years old, German national, single, no kids
- been working for this stock exchange listed German engineering company for 8 years, 6 years in North America as a product manager, 2 years based in Germany as export sales manager responsible for Asian (SEA & China & Japan & Korea) market
- already familiar with local Singapore based staff and general company situation due to current job

Job offer is for MD for sales, heading the company together with MD Finance.
Singapore office is centralized office for SEA market, existing satellite offices in KL, Bangkok, Ho Chi Minh, Taipeh, Jakarta with staff between 5-10 ppl each, total shared responsibility of about 40 staff.
Mostly responsible for managing sales staff in above mentioned offices, very frequent travel (minimum 2 out of 4 weeks in a month on the road) within SEA required.

What would be an adequate salary to ask for considering above mentioned points?

Update:
First offer was S$ 10.000/month plus S$3000/month housing allowance.

I believe this (first) offer to be too low, for such a responsibility and considering above mentioned circumstances, compensation should be in the S$15.000-20.000/month range.


What do you think?

If you need more information than provided above to give a suggestion, please let me know.

Thanks for any feedback!
Hi,

Do keep in mind that the tax rates here are ridiculously low compared to Europe, so you will probably end up saving quite a fair bit on taxes.

Cost of living in terms of food and convenience is really low, (except booze)

Only pricey things are housing and cars.
You can probably skip on the car, we have a good transportation system.
Just rent a sub-urban apartment and you will be good to go.

Not to mention you are single and asian singaporean chicks adore whites. ( the chicks are really cute and easy to bed if you are white)

No reason not to take the offer mate.

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Old 27-09-2014, 01:05 PM
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Quote:
Originally Posted by Unregistered View Post
10k sounds very low for a true MD role. Is it an engineering firm too? Will you be responsible for sales of engineering equipment and services? Will there a pre-determined target bonus and/or commission rate? If you factor in these additional compensations, how much will the first offer's annual salary be?

3k for housing is quite low too. You won't get to stay in the better part of the CBD area without paying from your pocket.

mate, he's 33 years old. its obviously not a true MD role.

still relatively decent for his age and experience.
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Old 27-09-2014, 07:40 PM
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Quote:
Originally Posted by Unregistered View Post
mate, he's 33 years old. its obviously not a true MD role.

still relatively decent for his age and experience.
It is a true MD role, but there's two MD's within the company, one for finance/HR/IT and my role would be for sales & service.
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Old 27-09-2014, 07:58 PM
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Quote:
Originally Posted by Unregistered View Post
Hi,

Do keep in mind that the tax rates here are ridiculously low compared to Europe, so you will probably end up saving quite a fair bit on taxes.

Cost of living in terms of food and convenience is really low, (except booze)

Only pricey things are housing and cars.
You can probably skip on the car, we have a good transportation system.
Just rent a sub-urban apartment and you will be good to go.

Not to mention you are single and asian singaporean chicks adore whites. ( the chicks are really cute and easy to bed if you are white)

No reason not to take the offer mate.
I was told tax range in the 12% - 15% area to be paid after the first year.
Assuming the chart in the link below is correct?

IRAS: Income tax rates

Comparing that to my current deductions of about 40% total (incl. income tax, unemployment insurance, pension plan, etc.), SG seems to be much less deductions. Saying this, I have yet to look into how I would deal with pension plan etc.

I won't get a car, since the company has a car I could use if needed.
Plus I will be travelling around SEA about 2 of 4 weeks in a month, so won't waste my money on a car, just get a cab is much cheaper.


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Old 27-09-2014, 08:06 PM
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Quote:
Originally Posted by Unregistered View Post
10k sounds very low for a true MD role. Is it an engineering firm too? Will you be responsible for sales of engineering equipment and services?
Yes, machinery sales & services.
What would be an adequate remuneration in your eyes?
S$ 20k/month incl. all possible bonus?

Quote:
Originally Posted by Unregistered View Post
Will there a pre-determined target bonus and/or commission rate? If you factor in these additional compensations, how much will the first offer's annual salary be?
Yes, there will be a three-tiered bonus system. Haven't gotten the numbers on that yet. Will share once received.

Quote:
Originally Posted by Unregistered View Post
3k for housing is quite low too. You won't get to stay in the better part of the CBD area without paying from your pocket.
I was going to ask for 4k/month allowance as well as a signing bonus of 5k so I can furnish the apartment, as everything will happen in the very short term.
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Old 27-09-2014, 10:50 PM
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Quote:
Originally Posted by tnkngn View Post
Yes, machinery sales & services.
What would be an adequate remuneration in your eyes?
S$ 20k/month incl. all possible bonus?
maybe 12k... base. bonus depends on ur firm i guess.


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Old 27-09-2014, 10:59 PM
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Something between 10k to 15k would be reasonable to ask for, I guess. All in all, depends on how desperate the company is to recruit you, or how eager you are to take up the job.

Bear in mind that many companies in this region operate on the basis of highly-qualified, lower-cost (compared to western developed countries) labour force. That's why all the foreign MNCs love to come here. So maybe that explains why the salary is not up to your initial expectation.

Also depending on the company's terms, you may not enjoy the same 'protection' that you get from the labour laws in EU countries.

3k for housing will get you a condo, more upmarket than the public housing that the majority of locals stay in, but location will definitely not be in the city area. Expect some commuting. But if you're adventurous and want to immerse in the local lifestyle, then staying in public housing in a local neighbourhood would be a great experience as well.
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Old 28-09-2014, 12:01 AM
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Quote:
Originally Posted by Unregistered View Post
Something between 10k to 15k would be reasonable to ask for, I guess. All in all, depends on how desperate the company is to recruit you, or how eager you are to take up the job.
Company is desperate to recruit me, current MD left already.

I am expecting to make min. S$200k total/annum.
As mentioned, the bonus structure hasn't been layed out yet, so I might come close to this already, depending how high bonus pay potentially is (obviously not guaranteed).

One more question, is it normal to get a 13th month salary in SG?
Here in Germany I get extra vacation & Christmas bonus (total 13,25 month salaries).


Quote:
Originally Posted by Unregistered View Post
Also depending on the company's terms, you may not enjoy the same 'protection' that you get from the labour laws in EU countries.
I understand that.
Not really an issue, since I will get a clause in my contract staing that my current employer would take me on again, if I don't like SG or the job in general.
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