29/M/single - can I find anything better?
 

I'm a 29 year old, single expat working on local pay (no benefits), and I make about $175,000 per annum. I've been thinking about a new career move lately, but I've come to the realisation that perhaps better job prospects may be difficult to find here compared to my current situation.

I'm certainly grateful for what I get now, but looking to get some different perspectives from those who know more about the Singapore job landscape.

how can u be an expat when ur on local pay without benefit? by definition that means ur just a foreign national staff working here, not on expatriation.

Fair point, foreign national staff it is.

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.

There are many jobs which pay fresh grad very well. Even if you exclude all the investment bankers, >6k starting pay is not unheard of.

banking jobs 175k by 29 yo is very common. fresh grad in fo can already reach 200k+ inc bonus.

I don't know much other people my age make, but had I received the full expat package (car, housing, country club membership(s), home leave, etc), the overall package would've doubled or more probably.

I should note that my base pay is $150,000 per annum, excluding any health or employer contributed benefits.

I currently work in a MNC, so not in the finance sector. Is banking the only sector to have that level of pay at 29?

many jr vp can easily hit 175k all in. if female no ns 25 yrs old already can.

i would love to take your job. 175k pa is serious dough. most ppl would be damn happy to get 100k pa at age 29.

I find it hard to believe the normal banking jobs can really pay 200k at age 30. Not talking about investment bankers, but personal, corporate banker or back office like IT, product marketing, compliance, HR, accounting etc. can hit so high so fast?

depends. those on MAP should be easy, but the normal hires type i think its on the high side

most vp & even some higher paid avp in foreign banks get >200k, not sure why u like so surprise.....

Actually 200k including bonus & aws is quite easy nowadays. My friend working in HR in a ministry tell me even in the public sector someone at Senior Deputy Director level can earn that much.

Not bad for someone of your pay.

Go out enjoy yourself.

U can go KTV and spend like a king.

The gals will love you deep deep.

Remember to always caps on if not u tio 4D.

What's the typical base salary like?

It can add up all very quickly! When I first moved here I think I was spending an average of $1500 a week on just entertainment, not including food!

and ur pt? show me on linkin how many SDD are they who is 30 yo. in fact deg grads with average performance & cep dun even get to be SDD when retire and to u this is "quite easy" yar? this place fill with jokers who only know how to talk big.

Another foreign talent, another jobless singaporean. whoo

dun talk cock ley, how many SDD positions available?? most prob going to b taken by e scholars

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.

A couple of very obvious errors. Firstly, there is no regulation that says a foreigner is not allowed to rent HDB. Secondly, many decent 1000 sqft size condos in suburb are going for 2.5-3.5k, not sure why rental must be at 5-7k which of course means bigger or better location, but that's not exactly compulsory for most foreigners unless you are a senior manager.

Also the education cost estimates are pretty off. It costs much more than 3k all-in every month for UWC. Annual costs of sending a child to UWC ranges from 60-90k p.a. depending on the activities and level the student is in. Most foreigners on local packages do not send their kids to UWC, that's way too expensive.

I get the same sentiment from some local friends, but what I don't think they realise is finding the skill sets necessary for my role was really difficult to find locally according to the hiring team. Hence the negotiations went heavily in my favour as I had a lot more to lose.

i thought SDD is the career ceiling for most deg non scholars.

Well is it's any consolation i'm 28 and make $140k + $10k 'benefits' per annum. So you're definitely up there. I don't get to save much though since I rent close to the office and it takes a big chunk out of my salary. Hit $100k a few years back, so i haven't seen much growth and i guess its just my industry...

bach from nus 3rd class. earn 4.2k/month 32 yr old.

While you were partying, i was in the library studying...
While you were out enjoying your weekends, i was working in office...
While you were having a goodnight's sleep, i was responding to client/boss 2am email...
Life is fair...