Singapore expat packages shrunk by US$12,450 over a year. The results, free to participants, enable companies to benchmark their expatriates' actual salaries against the market. Expat Compensation Package About About us Methodology Smart Expatriation help (FAQ) Partnerships Contact Request a Demo ... Singapore: Slovakia: South Africa: South Korea: Spain: Sweden: Switzerland: Taiwan: Thailand: Tunisia: Turkey: Ukraine: United Arab Emirates: United Kingdom: United States : Vietnam: Access to complete list. There are several different types of expatriate contract and these will determine what the employment obligations will be- 1. One of the first major considerations of any expatriate compensation package should concern the nature of the relationship between the employee and the employer and should address what the employment relationship will constitute. Despite tough competition from other Asian countries such as Hong Kong and Japan, Singapore remains a favorite for expatriates. When considering the cost of an expatriate package companies need to factor in three main elements: the cash salary, benefits – such as accommodation, international schools, utilities or cars – and tax. The perception that an expat living in Singapore is on a big expat package, a massive house and garden, education, housing, car and travel budget has hopefully faded. Expat Forum > Careers & Jobs in Singapore - Discuss about getting a well paid job or career advancement. If you're not registered with us but work in Global Mobility, why not create an account with ECA to see how we can help you. However, Singapore still offers some of the highest expatriate salary and benefits packages in the region, with some of the lowest tax rates. ”. Tax figures used here refer to employee taxes and do not take company contributions into account. Full expat packages usually include all sorts of goodies such as schooling in an international school (the fees of which are more often than not as high as the rent, which on an expat package your company may be paying in any case), medical insurance, and moving costs from and back to your home country. The Expat Life in Singapore. To assist companies relocating staff with benchmarking their packages against the market, ECA conducts its annual MyExpatriate Market Pay Survey of pay levels for expatriates around the world, including benefits, allowances, salary calculation methods and tax treatment. McNulty isn’t the only one who has noticed a rise in localisation packages. Over the past five years, the gap has widened between Singapore and Hong Kong for the total cost of an expatriate package offered to Middle Managers. Expat pay packages in Singapore increased across the board in 2018, with yearly salaries climbing by almost US$5,000 while benefits went up by US$6,400 on average, said Lee Quane, regional director for Asia at ECA International, in a press release on Tuesday. Singapore is home to one of the most secure economies in the world, and its workforce includes high numbers of expats, making it a popular choice for foreign citizens looking to work abroad. Education assumes one child attending a local international school. When tax is excluded, India falls out of the regional top 10 locations. More than 290 companies took part in the survey covering 160 countries and over 10 000 international assignees. Expatriate compensation packages can vary enormously from company to company and location to location.When negotiating an expat contract that is right for your needs and those of your family, it is important that you carefully consider several factors: 1) Nature of the Employment. In USD terms, the total cost of Singapore’s expatriate packages has fallen by six per cent over this period, compared to Hong Kong’s decline of just two per cent due to the relative strength of the Hong Kong dollar. Malaysia continues to offer the region’s lowest total expatriate pay packages – with packages falling by 13 per cent in USD terms since 2012, falling behind Sri Lanka and Pakistan in the process. Singaporean employers are often keen to acquire skilled workers from other countries and salaries can therefore be extremely competitive. Japan is home to Asia's most expensive expatriate packages. Singaporean employers are often keen to acquire skilled workers from other countries and salaries can therefore be extremely competitive. When choosing an expatriate pay approach, companies need to be clear about the reasons behind the assignment so that their choice reinforces this. They can include reduced base salaries (averag… On average, a package for an expatriate Middle Manager there is worth SGD 493 900 (USD 367 500). Bring an umbrella for the rain or for the sun haha. Singapore expat packages shrunk by US$12,450 over a year. 14 Annual leave per year 7 Loan for house rental deposit - Repayable at end of employment 5. Companies sending their expatriates to Singapore offer some of the most generous expatriate salary and benefits packages in Asia Pacific, with the total cost to companies falling over five years in USD terms. Here, she shares about what living in Singapore as an American is really like and offers insight into the pros and cons of life in Singapore as an expat. The actual costs or allowances paid to cover these benefits vary widely according to each company's policy. 2 Premium on salary Expat Package in Singapore. Dear HR Professionals, I would like to seek advice on what kind of package does your provide for Expats coming to S'pore with their family (4 pax) i.e. For ease of comparison, it is assumed that cash allowances are paid to employees to cover the cost of any benefits provided. Family Medical Insurance, 1 Home flight for 4 pax per year, Accommodations, Handphone bills, Utility bills, Children school fees, others, etc. Help. Many expats take this option because they enjoy living in their new home country, but it can be hard seeing your comforts stripped away. When considering the cost of an expatriate package companies need to factor in three main elements: the cash salary, benefits – such as accommodation, international schools, utilities or cars – and tax. Family Medical Insurance, 1 Home flight for 4 pax per year, Accommodations, Handphone bills, Utility bills, Children school fees, others, etc. In many sectors, particularly banking, expat packages have become less generous since the financial crisis, meaning you’re far less likely to be able to afford a … This has meant that the total cost of an expatriate package for companies in Singapore has fallen over the past few years in local and USD terms,” mentioned Quane. Expat relocation packages explained, including what you most likely be offered in your expat relocation package. A typical expat package, which includes salary, tax and other benefits, stands at $316,600 for middle managers in Singapore. The value of a typical expatriate package for Middle Managers in Hong Kong is around SGD 356 800 (USD 265 500), with the total cost of expatriate pay packages in Hong Kong remaining the fourth highest in the region. 18 Dental benefits - Amount x number of pax per year 17 Long term disability leave 5 Cost of living allowance per month Expat Packages Are Worsening in Singapore and Hong Kong: Survey. Singapore move? The cost of an expatriate package has fallen in Singapore by six per cent in USD terms over the past five years. Topping the list globally was the U.K., with an average expat package of $421,798. The value of a typical expatriate package for Middle Managers in Singapore is now HK$1,827,300 (US$235,500). 8 Hotel expenses up to 1 month while personal effects are on the way to Singapore 9 Personal income tax equalization - Maximum payable by expat, Company pays the … Topping the list globally was the U.K., with an average expat package of $421,798. 12 Children's school fees x number of children What to Negotiate For in a Singapore Expat Package Reading Time: 3 minutes Adrian Mah December 2, 2015. I'm an engineer. 0 0 0 Shares. She talked about her expat experience in Singapore. Hi, my DH has been offered a job in Singapore, just today so it's early days, but I'm well into panic mode. 20 40 footer container - 1 way Question. © 2020 Employment Conditions Abroad Limited, Singapore offers some of the most generous expatriate salary and benefits packages in Asia Pacific, When tax is factored in, Singapore falls to ninth in Asia Pacific’s overall most expensive locations for expat packages, Cost of expatriate packages in Singapore lowest in five years in USD terms – widening the gap with Hong Kong, Malaysia offers the lowest total expatriate packages for Middle Managers in the region. They can include accommodations, car and driver, maid service, education for your children, flights to and from the country you’re in back home, hardship allowance and healthcare among other niceties. Figures used in this release were collected in the later stages of 2016 and refer to a Middle Manager position based on 80 ECA Points. "A typical expat package is tied to a short-term international posting of approximately three to five years. Elsewhere in Asia, expat pay packages in Hong Kong rose last year after hitting a five-year low in 2016. However, when tax is factored in, Singapore falls down to ninth in the Asia Pacific’s overall most expensive locations as it has one of the lowest personal tax rates in the world. Ask about banking, employment pass, insurance, visa, work permit, citizenship or immigration issues. Singapore is a very attractive proposition for both companies and expatriates alike. I say do it. Smart Expatriation, 1st expert online solution to calculate your earnings abroad by taking into account the differential cost of living, housing costs, and the amount of taxes and social contributions. Most expensive cities for expatriates Expat index updated … Singapore's rival Hong Kong has a value of a typical expatriate package for Middle Managers at aroFund S$356,800 or US$ 265,500, clinching the fourth highest in the region. Expat Forum > Business in Singapore - Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore. 15 Banking fee - transfer of money from Singapore to the country of origin, how many times a year Compensation packages may include a housing allowance, depending on the location and cost of living. It wasn’t seen as an attractive thing to be far from their home country, extended family and friends. Housing. 6 1 month settling-in allowance (1-month house rental) This can help organisations to decide whether they wish to create equity among home or host country peers – something that has become even more complex as companies manage increasingly diverse nationalities in and out of different markets. This can considerably increase assignment costs, as is the case with India, where nearly half of the total expatriate package is consumed by tax. Update 19/04/2008. The value of a typical expatriate package for Middle Managers in Singapore is now SGD 316 600 (USD 235 500). The value of a typical expat package for middle managers in Singapore now stands at S$316,600, said human resource firm ECA International in its MyExpatriate Market Pay survey report. Bloomberg the Company & Its Products The Quint. ), but do it. 11 Car petrol, tolls, parking 10 Car rental 21 Compensation for the country of origin's social security/contributions Expat Packages Are Worsening in Singapore and Hong Kong: Survey By . ECA Points is a job evaluation system that measures the influence, scope and responsibilities of a job. A total package for an expatriate Middle Manager in China is worth around SGD 379 800 (USD 282 500) on average. Singapore, Singapore - Salary - Get a free salary comparison based on job title, skills, experience and education. Welcome to Living Abroad, a new series that shows you what expat life is like in cities around the world.Our first interview is with Sarah, an American expat living in Singapore with her husband and 15-year old daughter. If you have been working for a corporation for a number of years already, you should ensure that your contract notes the fact that the assignment abroad does not constitute a break in employment. According to a survey conducted by ECA, Asia is one of the best places for expats. As you all know, ... Tell us about your typical day as an expat in Singapore. The car figure covers annual running costs and is based on a standard cars value (2000 cc), depreciated over five years. China remains attractive for foreign companies sending expatriates here as although costs are rising in local currency they have fallen in USD terms over the past 12 months,” stated Quane. The total package has risen by a significant amount from last year’s total, by around 12 per cent, with the yen strengthening against the US dollar in the survey period. The salary and benefits package you are able to secure is essential, use those sites and others like them to ensure that your package is right for you. Negotiate as much as you can! The Full Expat package is available to employees with highly specialized skills in their field and will often include many benefits ensuring a comfortable life in most any country. For middle managers in Hong Kong, expat packages -- including salary, tax and benefits such as accommodation and schooling -- have fallen 2 percent in U.S. dollar terms over the past five years to around $265,500, while the typical package in Singapore dropped 6 percent to $235,500, ECA’s annual MyExpatriate Market Pay survey found.d Benefits values are based on standard ECA assumptions* and have been derived from data in ECA's accommodation and benefits reports to provide an estimate of the cost of providing these benefits. Sign in and follow the ECA blog to receive regular updates by email. 3 Notice of termination A traditional expat salary package (which we explore below) would include relocation costs, housing and education allowances, annual travel allowances, and a loading on your base salary. The situation has been changing over the past two decades, with I would say most expats now on local contracts i.e. Singapore is attractive relative to other Asian countries. These are a great place to start you’re research. The benefits you get really do vary from employer to employer, and whether you get a full expat package. Expat sites generally include forums, blogs, job openings, and advice columns. This will ensure that you remain eligible for any benefits or r… For simplicity, expat packages fall into three basic categories: 1) Full Expat package, 2) Expat Lite and 3) Local Hire. If you have a child staying in your home country to study, you may also need to factor in their travel costs during the holidays. “Even though international school fees have risen in Singapore, the overall cost of benefits packages have fallen in USD terms by 10 per cent over a five-year period due to expatriate accommodation rental prices declining,” explained Quane. “In local currency terms, although expatriate salaries continue to rise in Singapore, reaching the highest levels since our survey began, the cost of the benefits element has significantly declined. Japan is home to Asia's highest expatriate packages. Despite tough competition from other Asian countries such as Hong Kong and Japan, Singapore remains a favorite for expatriates. It's not a full answer but a few things to remember- some more obvious than others. The situation in Singapore has been changing over the past decade or so, with a greater provision of host-based salary and benefits packages to expatriate staff. For middle managers in Hong Kong, expat packages ... while the typical package in Singapore dropped 6 percent to $235,500, ECA’s annual MyExpatriate Market Pay survey found. McNulty isn’t the only one who has noticed a rise in localisation packages. “The rise in accommodation costs was partly responsible, with … Hello all, I was wondering if anyone knows or have been offered any expat packages before. Local-to-local: When you are working abroad for a local employer, you may receive a local-local contract. Expat Forum > Relocating, Moving to Singapore - Moving to Singapore? The Good Old Days Forty years ago, expatriate postings to so-called third-world countries were considered disruptive and often dangerous to managers’ careers -- … 0 0 0. 16 Medical and Hospitalization Insurance (Worldwide) Hey guys! We provide the following expat's employment terms and conditions: 1 Basic annual salary There are tons of events and get-togethers and you’ll meet expats from all over the world living in Singapore.” A typical pay package there is now US$268,514, up by US$3,027. Eric Lam , May 17, 2017, 5:16 AM EDT Singapore packages lowest in five years in U.S. dollar terms Hong Kong packages … We are excited to welcome Sarah to our Expat Life Interview Series. ECA's MyExpatriate Market Pay Survey looks at pay levels for expatriates around the world, including information on benefits, allowances, salary calculation methods and tax treatment. The value of a typical expatriate package for Middle Managers in Singapore is now HK$1,827,300 (US$235,500). Expat Forum > Staying, Living in Singapore - Discuss about life in If anyone has any experiences to share or can offer advice then I'd be hugely grateful. The value of a typical expatriate pay package for middle managers in Japan amounts to $375,289 per year on average, ECA International's annual MyExpatriate Market Pay Survey, released on … 13 Air ticket - home passage per year - number of pax - 2 ways Expat packages in Singapore fell 6 percent in 2017 to S$316,600 per annum, inclusive of salary, tax, and benefits.. The average cost of a total expatriate package in Malaysia now lies at just under SGD 225 900 (USD 168 000). It is so easy to get connected with other people from either your home country or international people. Other costs to take into account are things like internet packages, which are usually around S$43 a month. Most expats have no trouble paying tax, and it is collected directly from your salary. Japan is home to Asia's most expensive expatriate packages. 9 Personal income tax equalization - Maximum payable by expat, Company pays the rest If you are offered a position, take it (of course be pragmatic in doing proper research, expat package, what makes financial & longterm sense, etc. It isn’t complicated and there are several Singapore and Hong Kong expat tax calculators online. ... expat packages -- including salary ... while the typical package in Singapore … 24 Personal Accident - how times of annual salary, Certified Human Resource Administrator – CHRA®, Certified Human Resources Supervisor (CHRS), Certified Human Resource Specialist (CHRS)® (Payroll), Certified Human Resource Specialist (CHRS)® (Recruitment), Certified Human Resource Specialist (CHRS®) (Performance Management), Payroll Legislations & Its Practical Applications, Designing an Equitable & Competitive Salary Structure. Packages for expats have become less generous in many emerging economies as more senior positions have become localised. Ask about salaries, expat packages, CPF & taxes for expatriate. In another ECA International’s report, it has been calculated that the average cost of employing an expat in Singapore has shrunk by over US$12,450 (4%) compared to the year before, but still above US$200K. Singapore is one of the best expat countries in the world. Singapore is home to one of the most secure economies in the world, and its workforce includes high numbers of expats, making it a popular choice for foreign citizens looking to work abroad. Transport In terms of transport, 1 litre ( ¼ gallon) of gas usually costs S$2.10; a monthly ticket for public transport (such as the MRT) would cost around S$79. I'm in the midst of negotiating with a Korean employer on what should be included in the package. For middle managers in Hong Kong, expat packages — including salary, tax and benefits such as accommodation and schooling — have fallen 2 percent in U.S. dollar terms over the past five years to around $265,500, while the typical package in Singapore dropped 6 percent to $235,500, ECA’s annual MyExpatriate Market Pay survey found. Reading Time: 3 minutes. The total cost of expatriate pay packages in Singapore for Middle Managers has fallen to a five-year low in USD terms. The cost of an expatriate package has fallen in Singapore by six per cent in USD terms over the past five years. It just takes so much stress away. Many expats take this option because they enjoy living in their new home country, but it can be hard seeing your comforts stripped away. Expat packages are one of the reasons that executives originally considered taking positions overseas. In HSBC’s 2018 annual expat survey, the country once again topped the charts, based on the replies from over 27,000 expats from 159 countries. There are a number of ways in which salary packages for expatriates may be calculated. In most cases expat packages total around 35% more than the package you’d receive for the same role back in the US. She talked about her expat experience in Singapore. Utilities covers heat, light, water and telephone charges. For this reason, it is the “expat package” that is considered most interesting in the discussion of expatriate compensation. Singapore is ninth in the Asia Pacific regional rankings this year. (45 Posts) Add message | Report. Most packages usually cover the cost for a flight home once a year, although you may be able to negotiate for more depending on your personal circumstances. 23 Life Insurance - how times of annual salary Note: I will not be teaching in Korea. It's not a full answer but a few things to remember- some more obvious than others. That is an especially large sum to sustain in many small emerging markets such as those of Southeast Asia. Singapore is ninth in the Asia Pacific regional rankings this year. The accommodation figure is representative of the cost of housing two adults and one child. The value of a typical expatriate package for middle managers in Hong Kong is about US$265,500; for companies, the total cost of expatriate pay packages in Hong Kong remains the region's fourth highest. Expat packages in Singapore fell 6 percent in 2017 to S$316,600 per annum, inclusive of salary, tax, and benefits. 8 Hotel expenses up to 1 month while personal effects are on the way to Singapore This means that the total cost of an expatriate package for companies in Singapore has fallen over the past few years in local and USD terms." For employers, however, the “expat package” can add between US$150K and US$200K per year to the overall cost of the manager – in addition to cash compensation, bonuses and regular benefits. “If you are (like us) not moving to Singapore on a luxurious expat package and you need to make your own arrangements, I highly recommend getting in contact with a rental agent to view homes when you arrive. However, I would appreciate any inputs from any professions. The information provided by participant companies in our survey relates to home and host-based salary systems as well as locally-hired and localised expatriates and expatriates on indefinite contracts. The value of a typical total expatriate package for Middle Managers in Singapore is now USD 239 400. Moreover, expat salaries in Hong Kong and Singapore won’t always increase after you have already moved firm. 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