Is 5500 SGD per month good enough for me?

[cybeh]

Hi,

I recently got a job offer for 5500 SGD pre tax per month (66,000) from Singapore.

I have 6+ yrs of experience in Information Security Management, and currently earning a good salary here in India.

Is this salary good enough for me a family of three, one kid who will be going to play school in next 6 months. Wife is probably not gonna be working.

Let me know your thoughts. Am looking to have a decent lifestyle and thinking to save some.

I was thinking of taking it up and later switching to another company once am there after an year. What are the challenges for shifting jobs there?

Any help will be greatly appreciated.

Thanks,
Cybeh

[another one]

here we go again

[in a word]

Is this salary good enough for me a family of three, one kid who will be going to play school in next 6 months. Wife is probably not gonna be working.

No.

You will get people telling you locals live on this or less, but you are not a local. You will rent property from the private market, your child will pay full fees at any pre-school, you will pay full costs even in public hospitals, you will not have the same tax exemptions or reliefs. The list goes on. Fact is, you cannot live on the same amount of money as a local as you will not have the same subsidies.

Can a foreign family survive on 5.5k a month? Yes. Can they live well and enjoy a normal life? No.

As for changing jobs, that is possible, but given the usual practise of local companies of asking what your current salary is and offering you the same (even requesting payslips) then the chances of getting something better is slim.

If you have a good standard of living now, then stay where you are.

[Thanks]

Thanks a ton, I come in higher middle class here in India and I definitily have a very good standard of living here.

Thanks for clarifying. I know there are a lot of similar questions around but were of last year wanted to know the current status. Thanks for helping me decide.

Cybeh

[$Pripps]

Is this salary good enough for me a family of three, one kid who will be going to play school in next 6 months. Wife is probably not gonna be working.

No.

You will get people telling you locals live on this or less, but you are not a local. You will rent property from the private market, your child will pay full fees at any pre-school, you will pay full costs even in public hospitals, you will not have the same tax exemptions or reliefs. The list goes on. Fact is, you cannot live on the same amount of money as a local as you will not have the same subsidies.

Can a foreign family survive on 5.5k a month? Yes. Can they live well and enjoy a normal life? No.

As for changing jobs, that is possible, but given the usual practise of local companies of asking what your current salary is and offering you the same (even requesting payslips) then the chances of getting something better is slim.

If you have a good standard of living now, then stay where you are.

BUMP!

[Don't do it]

Thanks a ton, I come in higher middle class here in India and I definitily have a very good standard of living here.

Thanks for clarifying. I know there are a lot of similar questions around but were of last year wanted to know the current status. Thanks for helping me decide.

Cybeh

You cannot replicate your "very good standard of living" on $5,500 in Singapore.  Even double that amount will not provide a very good standard of living for a foreign family of three.

[Do you realize...]

Standard of living in India is extremely different from Singapore. What you define as higher middle class may be only basic level in Singapore.

All my Indian colleagues (whether they are here on expat/non-expat packages) said they won't go back to India, again. The lifestyle is simply too different.

In India, to get things to work, its possible but it is ALWAYS a painful process. Simple example, one of my colleagues used to drive 2 hours to & fro work and he is fairly senior back in India. In Singapore, if the train is arriving in 5 mins during peak hour, you see people complaining.

Of course, he also feel that Singapore offer a better opportunity & future for his kids, compared to them growing up in Mumbai. In Singapore, everything work, without having to go through a painful process.

I would suggest that you buy yourself an air ticket to Singapore, see for yourself and see the difference before you make the decision.

Anyway, most Indians don't send their kids to expat schools. I think they send to a private Indian school which does not cost as much as an expat school.

[mumbai]

This is not enough even for a decent lifestyle in Mumbai unless you have a fully paid up house in a
nice part of town and good schools are not that cheap either...

[my take]

If it counts for anything, my friends who are "higher middle class Indians" (at least that is what they claim to be) have said that $5500 in an acceptable salary if your kids are going to a local school.

[getonin]

Plenty salary for you,

[in a word]

Such astounding arrogance by some on this thread. Indians have a lower standard of living, or have never travelled? Get a grip.

Some of you need to get off your shiny, little dot so you'll see that Singapore is simply not heaven on earth. And it sure as heck is not worth giving up somewhere where you are happy to "chance it" at being better.

[Comparisson]

Comparing economies, standards of living, expectations is always difficult.   In this case, however, the OP has made the comparison relatively simple.  In his current location he enjoys a good standard of living among the higher middle classes.  Supporting a family in Singapore on $5500 would not place you among the higher middle classes here barely lower middle class in fact. 

[pattayabargirlcrew]

The original cheap charlies though

[Blaze]

Standard of living in India is extremely different from Singapore. What you define as higher middle class may be only basic level in Singapore.

All my Indian colleagues (whether they are here on expat/non-expat packages) said they won't go back to India, again. The lifestyle is simply too different.

In India, to get things to work, its possible but it is ALWAYS a painful process. Simple example, one of my colleagues used to drive 2 hours to & fro work and he is fairly senior back in India. In Singapore, if the train is arriving in 5 mins during peak hour, you see people complaining.

Of course, he also feel that Singapore offer a better opportunity & future for his kids, compared to them growing up in Mumbai. In Singapore, everything work, without having to go through a painful process.

I would suggest that you buy yourself an air ticket to Singapore, see for yourself and see the difference before you make the decision.

Anyway, most Indians don't send their kids to expat schools. I think they send to a private Indian school which does not cost as much as an expat school.

Thank you for this advertisement of Singapore.

Yes the trains are arriving in 5 mins INTERVALS during peak hour, but still they are jam packed and it takes ages to reach your office. Not 5 mins.

Driving is also getting from bad to worse, they have simply put too many cars on the roads lately. And it still remains super pricey.

Yes things are a bit better here than many other places but the difference is getting smaller every year...

[Do you realize...]

I don't think I am advertising for Singapore, but merely stating that you are comparing apples against oranges.

Traffic in Singapore is bad, but how many people on this board, had ever been trapped in a 2 hours traffic (in Singapore)? The transport system in Singapore may not be the best, but again, we are talking about Singapore compared to India. I would say Singapore is pretty ahead in comparison.

If you look at the condition of properties, it may not be the best and there is definitely rooms for improvement, but again, you are comparing it against India. What I am saying is, Singapore is an entirely different place compared to India. In India, a higher middle class may have 4-6 maids at home. But in Singapore or any major financial centre, how may people have 4-6 maids at home? Just becuase one do not have 4-6 maids, does that mean the quality of life is compromised?

There are a lot of factors to compare, when you are putting two cities next to each other.

The best way for the OP to decide, is to simply buy an air ticket to Singapore, stay for a couple of weeks if you can afford, and make an informed decision. Everyone have their point of view on this board, but ultimately, its the OP's POV which is most relevant. 

Another thing is the OP have a kid. Many Indians in Singapore feel that they are placing their kid competitively ahead when they leave India and move to Singapore. That might be something the OP would want to consider as well.