Salary for IT position

[Wondering]

Hi people,

I have a question. I've tentatively accepted a position in Singapore that includes a salary of S$115K per year in addition to a housing allowance of S$4200 per month.

I'm 28, single, and have 10 years of IT experience.  In the U.S. I make $85K per year (about S$144!) but of course, no housing allowance, etc. and the taxes in the U.S. are twice of what I pay in Singapore.  

I'll actually take home a few hundred more dollars in Singapore after taxes than the U.S..

It seems like a decent deal as I'm fairly well to do in America, but still the question lingers- am I really making a solid move financially?

I get a full range of benefits, more vacation than I could dream of in the U.S., and various other benefits.

Any comments from anyone??

All are appreciated.

-Wondering

[Gopher]

I think you should 'try it' but don't burn your bridges back home, keep your return options open and while in Singapore my advice is to always to KEEP LOOKING for something better either in Asia or back home and if/when it suits you, you can jump again.  In your field your skills are globalised and so is salary (generally).  Be mindful of exactly whom your employer is in Asia as some are not such good corporate citizens as you may have gathered from reading these pages.  Make sure your employment contract is "legally tight" so there are no misunderstandings later.

Enjoy Asia, it is fun and will be a very rewarding experience both personally and professionally.  You can always return home at your liesure.  Make sure you keep your skills current and next time try Australia - it's a hoot too.

[jws]

wondering...that is a good package. Please investigate though what your tax implications are back in the USA...even if you work in Singapore

[Wondering]

Thanks for the input.

My employment pass has been accepted and I make the move to Singapore December 26th.

When I was there my company got me in with PWC who will be taking care of my taxes.  Basically, since I'll be there Jan 1st then my tax base for 2001 is Singapore and I'm entitled to some us$76k exemption.  

After that, they'll wrangle some tax credits and such.

I've lived in Asia for two years in the past (mainland China), but never on a decent expat package.  So this will be interesting.

I'll be self-managed for what I do, set my own hours, etc., as my bosses are all in Europe and the U.S.- but it's a huge company that has always taken care of me in the past.  I have the same job in the U.S. - just going on a 2 year International Assignment.

Part of my territory is Australia so I'll head over there next year sometime!

Again, thanks for the input!

Best Regards,
Wondering

[new kid on the block]

Hi,

Just to further explore this topic.

I'm being offered a salary between $70-120K.
How much tax I need to pay w/ this
salary bracket?

[Mark D]

The IRAS web-site www.iras.gov.sg  will tell you you'll pay $12,775 on the first $100k of taxable income then 22% on the next $50k.

[Fat Bob]

Hey guys, ok, you might be better or worse off financially in your move to Singapore from US/HK or where ever else, but if that's the only reason your moving, then forget it. Surely S$100k per year is good enough to live in most major cities in the world?

Surely the reason to move to S'pore is much more than "money, money, money". Think of the travel possibilities. Think of the cultural differences (good as well as bad). Think of the "making of a person" that it could do to you (again, good and bad).

Remember, S'pore isn't the best place for singles. OK, you can get by, but I know a few that have pulled all their hair out trying to.

Oh, and please remember, "same amount money in pocket" does not equal "same amount of buying power". Figure that out in the "Big Mac Cost of Living" index or whatever you use.

[Wondering2]

Hi

I have the same question. My husband is moving to Singapore and I am negotiating a position there with my current employer (large IT services firm). I earn Singapore$145K per annum Australia. Can I expect a similar salary there? I will be employed as a local, not an expat.

Thanks in advance

[Kenneth]

Dear all,

 I am a Chinese, working in the UK for the last 5 years in IT (Software Engineering).  In fact, I have about 7 years IT experience as I was from HK originally.  I got a computing degree and a PhD (Computing) in UK.  Now, I would like to move back to Asia.  Singapore is the first choice.  However, I would like to know how much money I can make in Singapore based on my background.

 I am earning about S$150K at the moment in an investment bank as an Analyst/Programmer.  Will I be able to get similar amount in Singapore?  What is the average salary in IT software engineering in Singapore?

Cheers

Ken

[Brit (no longer single)]

Fat Bob - couldn't agree more with just about everything you said. Very sad if the only thing that moves people round the world is the paycheque (although it helps!).

Only thing I would disagree on is the life of the single in Singapore. I was single when I first came here, for about 18 months - they were the best 18 months since I left university - and that includes 10+ years living in London. People here much more in tune to meeting new people and having fun than in London where if you're in a group, fair enough, but if you're trying to meet new folk its hard.
All IMHO of course.