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Singapore - Salaries
Singapore salaries are also higher than what you would probably expect to find in other Asian countries such as Vietnam, Thailand, Malaysia, or Indonesia (although they may be comparable in larger cities or in places like Hong Kong.) As a result, Singapore sees a high level of immigration from surrounding countries, especially the Philippines.
For those who have advanced qualifications, relevant work experience, and extensive education, Singapore can be an ideal destination with high salaries. According to an HSBC Expat Explorer survey, almost half of Singapore’s expats earn over S$250,000 ($200,000 USD) per year. For a financial accounts manager, the average gross monthly income is S$5,600. For an IT systems manager, an average salary is roughly S$6,300. For those who are at a high level in the banking and financial services sector, salaries can actually start at S$15,000.
The average middle-class skilled professional in Singapore makes around S$3000-4500 per month. However, an expat with a special skill set and/or experience might expect to earn more, while entry level positions usually pay less. Domestic or service industry jobs usually pay the least. To find out more about specific Singapore salaries, visit GlassDoor at http://www.glassdoor.com/Salaries/singapore-salary-SRCH_IL.0,9_IM1123.htm
It is also important to remember that individuals who are being relocated to Singapore, or hired directly by a Singaporean company, might find other benefits in their employment package. These could include allowances for housing, transportation, medical care, entertainment and domestic help. This can drastically cut down on overhead expenses which can make it possible to live a comfortable lifestyle in Singapore, or one that is even better than what you might expect to find in your home country.
Singapore does not have a minimum wage. As a result, it is important to agree to a salary amount directly with your future or potential employer before you sign any contracts and agree to relocate to Singapore, or to take the position if you are already there. This is also a good time to discuss any other benefits that come with the employment package.
Because Singapore is a city state that has districts but no separate regions, there are no signicant regional variations in salary. You might find a difference in employers and companies, but there shouldn’t be a difference as far as one side of the island versus the other side is concerned.
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