Unregistered |
12-08-2015 11:09 PM |
Foreigners on local package are the norm rather than the exception these days for banks.
Even folks on expat packages get converted to local packages within a shorter time.
Singapore is not viewed as a hardship posting anymore, and frankly its not easy for these folks because housing and education takes a pretty big chunk out of their pay (I'm a local).
i.e. with a family of 2 kids
- rental is c. $5 - 7k per month (not allowed to rent HDB)
- education is c. $3k per kid per month for UWC / Tanglin Trust (not allowed to attend local schools)
So between rental and education, they have to pay $11 to 13k per month, not including taxes. So savings aren't easy to accumulate, and there is limited scope to significantly reduce expenses without a big hit to quality of life.
For Singaporeans, the option of living in a HDB and sending kids to quality and subsidized govt schools makes a massive difference.
Yes, its a first world problem, but its not all roses and wine for "highly paid" expats on local packages.
Quote:
Originally Posted by Unregistered
(Post 71373)
How can a foreign staff be hired on local package and command such a high salary? Do you mean that all those 29 year old in your company are paid similar salaries as you?
I was under impression all these people who come to Singapore are paid hefty money compared to the locals as they are on an expat salary package. If they are on local salary package then they would not command the high salaries.
How many local 29 year olds are paid $175,000 per annum? By the time we finish our degree in a local uni, we are around 24-25. Even with a first class honours, it's close to impossible to reach this salary on local pay in 4 years time.
Maybe, to inflate our salaries and feel happy, we can include Employee contributions but still it might fall short of $175,000 by 29.
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