Family Medical Insurance, 1 Home flight for 4 pax per year, Accommodations, Handphone bills, Utility bills, Children school fees, others, etc. 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. 8 Hotel expenses up to 1 month while personal effects are on the way to Singapore 15 Banking fee - transfer of money from Singapore to the country of origin, how many times a year In most cases expat packages total around 35% more than the package you’d receive for the same role back in the US. It's not a full answer but a few things to remember- some more obvious than others. Expat salary packages are designed to cover the expenses of staff who move their families abroad, as well as providing compensation for the associated hardship. Japan is home to Asia's highest expatriate packages. 14 Annual leave per year Singapore is ninth in the Asia Pacific regional rankings this year. 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. 0 0 0 Shares. Ask about banking, employment pass, insurance, visa, work permit, citizenship or immigration issues. The cost of an expatriate package has fallen in Singapore by six per cent in USD terms over the past five years. Education assumes one child attending a local international school. 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 value of a typical total expatriate package for Middle Managers in Singapore is now USD 239 400. Singapore is a very attractive proposition for both companies and expatriates alike. 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 … Elsewhere in Asia, expat pay packages in Hong Kong rose last year after hitting a five-year low in 2016. 21 Compensation for the country of origin's social security/contributions Expat relocation packages explained, including what you most likely be offered in your expat relocation package. Sign in and follow the ECA blog to receive regular updates by email. 2 Premium on salary For simplicity, expat packages fall into three basic categories: 1) Full Expat package, 2) Expat Lite and 3) Local Hire. It just takes so much stress away. This ensures that Singapore remains one of the cheaper locations for companies to send their expats to in the region - behind Japan, Hong Kong and China. In addition to detailing how long an employees expatriate contract will be valid for (see contract duration and termination notice), the contract should also contain details of whether or not the employment constitutes a break in employment from the employer. “Expatriate packages in China have declined in USD terms from last year’s totals due to the yuan weakening against the dollar over this period. Singapore move? Singapore expat packages shrunk by US$12,450 over a year. Companies sending expats here offer some of the most generous salary and benefits packages in the region, sitting in the top three for both elements in the Asia Pacific rankings. If anyone has any experiences to share or can offer advice then I'd be hugely grateful. Most expensive cities for expatriates Expat index updated … If you are offered a position, take it (of course be pragmatic in doing proper research, expat package, what makes financial & longterm sense, etc. A typical expat package will often include travel costs for you and your family to visit loved ones back home. There are a number of ways in which salary packages for expatriates may be calculated. 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. Expat Package in Singapore. Hey guys! Singapore is attractive relative to other Asian countries. 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. Other costs to take into account are things like internet packages, which are usually around S$43 a month. Expat packages are one of the reasons that executives originally considered taking positions overseas. 0 0 0. She talked about her expat experience in Singapore. When tax is excluded, India falls out of the regional top 10 locations. 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. 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. ), but do it. 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. Bloomberg. Compensation packages may include a housing allowance, depending on the location and cost of living. Many expats take this option because they enjoy living in their new home country, but it can be hard seeing your comforts stripped away. Question. When choosing an expatriate pay approach, companies need to be clear about the reasons behind the assignment so that their choice reinforces this. What to Negotiate For in a Singapore Expat Package Reading Time: 3 minutes Adrian Mah December 2, 2015. 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. having to pay for rent and school fees out of a fixed salary. Expat packages in Singapore fell 6 percent in 2017 to S$316,600 per annum, inclusive of salary, tax, and benefits.. India’s tax element has the opposite bearing to Singapore’s, with high tax making it less appealing to foreign companies. It's not a full answer but a few things to remember- some more obvious than others. 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. The results, free to participants, enable companies to benchmark their expatriates' actual salaries against the market. Note: I will not be teaching in Korea. Bring an umbrella for the rain or for the sun haha. 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. Expat Packages Are Worsening in Singapore and Hong Kong: Survey By . 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. A total package for an expatriate Middle Manager in China is worth around SGD 379 800 (USD 282 500) on average. The average cost of a total expatriate package in Malaysia now lies at just under SGD 225 900 (USD 168 000). 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. As you all know, ... Tell us about your typical day as an expat in Singapore. This could cause real financial issues for you if you’d like to remain in Singapore. "A typical expat package is tied to a short-term international posting of approximately three to five years. 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. Certain types of allowances are specifically excluded from the analysis in the reports. The accommodation figure is representative of the cost of housing two adults and one child. This can considerably increase assignment costs, as is the case with India, where nearly half of the total expatriate package is consumed by tax. “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. There are several different types of expatriate contract and these will determine what the employment obligations will be- 1. “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. Singapore is ninth in the Asia Pacific regional rankings this year. ”. Update 19/04/2008. India offers expats a higher pay package than the USA and Australia; Singapore and Hong Kong may be at the top of the list of the most expensive places to stay in Asia but the best pay packages for expats are offered by companies in Japan. 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. We are excited to welcome Sarah to our Expat Life Interview Series. Bloomberg the Company & Its Products The Quint. A typical expat package, which includes salary, tax and other benefits, stands at $316,600 for middle managers in Singapore. 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. 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. Most expats have no trouble paying tax, and it is collected directly from your salary. allowances that aim to cover the costs of relocation and make the process smoother As you all know, Singapore is one of our favorite destinations, and our most visited country. 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. © 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. 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. ... expat packages -- including salary ... while the typical package in Singapore … 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. 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. 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. India has the third highest total expatriate pay packages in the region, at SGD 373 500 (USD 277 900). 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. 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. 16 Medical and Hospitalization Insurance (Worldwide) Singapore, Singapore - Salary - Get a free salary comparison based on job title, skills, experience and education. Hello all, I was wondering if anyone knows or have been offered any expat packages before. 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. This will also need to be balanced against benefits and costs to the business. These are one-off payments such as allowances for outfit, furniture, disturbance and relocation. Expat packages in Singapore fell 6 percent in 2017 to S$316,600 per annum, inclusive of salary, tax, and benefits. On average, a package for an expatriate Middle Manager there is worth SGD 493 900 (USD 367 500). It is so easy to get connected with other people from either your home country or international people. 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. For ease of comparison, it is assumed that cash allowances are paid to employees to cover the cost of any benefits provided. Singapore expat packages shrunk by US$12,450 over a year. Local-to-local: When you are working abroad for a local employer, you may receive a local-local contract. 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 … Expat Forum > Relocating, Moving to Singapore - Moving to Singapore? Negotiate as much as you can! ECA Points is a job evaluation system that measures the influence, scope and responsibilities of a job. 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. 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. 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. Expat tax. The Good Old Days Forty years ago, expatriate postings to so-called third-world countries were considered disruptive and often dangerous to managers’ careers -- … Expat Packages Are Worsening in Singapore and Hong Kong: Survey By . Over 80 percent of expatriate respondents in a recent eFinancialCareers survey of 1,142 bankers and finance professionals in Singapore have never been employed on an expat package. 9 Personal income tax equalization - Maximum payable by expat, Company pays the rest 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. 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. 4 Housing allowance/benefits per month Packages for expats have become less generous in many emerging economies as more senior positions have become localised. (45 Posts) Add message | Report. 3 Notice of termination Despite tough competition from other Asian countries such as Hong Kong and Japan, Singapore remains a favorite for expatriates. I'm an engineer. 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. 5 Cost of living allowance per month 11 Car petrol, tolls, parking The benefits you get really do vary from employer to employer, and whether you get a full expat package. Singaporean employers are often keen to acquire skilled workers from other countries and salaries can therefore be extremely competitive. On average, a package for an expatriate Middle Manager there is worth USD 329 000. Reading Time: 3 minutes. Expat Forum > Business in Singapore - Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore. 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. 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. Expat Forum > Careers & Jobs in Singapore - Discuss about getting a well paid job or career advancement. Topping the list globally was the U.K., with an average expat package of $421,798. What is a good expat package?! The most expensive part of the expatriate package in Singapore is typically the benefits element, to the extent that the benefits components are often more expensive than the assignee's net take-home pay. The value of a typical expatriate package for Middle Managers in Singapore is now HK$1,827,300 (US$235,500). 18 Dental benefits - Amount x number of pax per year The value of a typical expatriate package for Middle Managers in Singapore is now HK$1,827,300 (US$235,500). 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. 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 Japan is home to Asia's most expensive expatriate packages. For simplicity, expat packages fall into three basic categories: 1) Full Expat package, 2) Expat Lite and 3) Local Hire. However, Singapore still offers some of the highest expatriate salary and benefits packages in the region, with some of the lowest tax rates. 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. There are tons of events and get-togethers and you’ll meet expats from all over the world living in Singapore.” 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. For this reason, it is the “expat package” that is considered most interesting in the discussion of expatriate compensation. Eric Lam , May 17, 2017, 5:16 AM EDT Singapore packages lowest in five years in U.S. dollar terms Hong Kong packages … “The rise in accommodation costs was partly responsible, with … 17 Long term disability leave The Expat Life in Singapore. 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. Topping the list globally was the U.K., with an average expat package of $421,798. Ask our regular expats in Singapore questions on relocation and their experience here. 7 Loan for house rental deposit - Repayable at end of employment 12 Children's school fees x number of children 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." 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. 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. More than 290 companies took part in the survey covering 160 countries and over 10 000 international assignees. The situation has been changing over the past two decades, with I would say most expats now on local contracts i.e. She talked about her expat experience in Singapore. SweetieBumMum Fri 24-Jun-16 20:06:35. Expat Packages Are Worsening in Singapore and Hong Kong: Survey. The actual costs or allowances paid to cover these benefits vary widely according to each company's policy. Bloomberg | Quint is a multiplatform, Indian business and … The cost of an expatriate package has fallen in Singapore by six per cent in USD terms over the past 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. “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. Tax figures used here refer to employee taxes and do not take company contributions into account. If you manage to land a lucrative expat package, be careful of localisation clauses that will allow your company to shift you into a local role after your initial contract is complete. Housing. Family Medical Insurance, 1 Home flight for 4 pax per year, Accommodations, Handphone bills, Utility bills, Children school fees, others, etc. Despite tough competition from other Asian countries such as Hong Kong and Japan, Singapore remains a favorite for expatriates. McNulty isn’t the only one who has noticed a rise in localisation packages. It’s worth the money! The total package has fallen by a significant amount from last year’s total of USD 375 000, with the yen weakening significantly against the US dollar over the past year. The Expat Life in Singapore. 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. Expat sites generally include forums, blogs, job openings, and advice columns. A typical pay package there is now US$268,514, up by US$3,027. Singapore is one of the best expat countries in the world. 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. The car figure covers annual running costs and is based on a standard cars value (2000 cc), depreciated over five years. 20 40 footer container - 1 way Singaporean employers are often keen to acquire skilled workers from other countries and salaries can therefore be extremely competitive. Expat Forum > Staying, Living in Singapore - Discuss about life in 23 Life Insurance - how times of annual salary 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. I'm in the midst of negotiating with a Korean employer on what should be included in the package. If yes, could you possibly share with me. Moreover, expat salaries in Hong Kong and Singapore won’t always increase after you have already moved firm. 19 Prescription Eye Wears benefits - Amount x number of pax per 2 years It isn’t complicated and there are several Singapore and Hong Kong expat tax calculators online. 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 … The value of a typical expatriate package for Middle Managers in Singapore is now SGD 316 600 (USD 235 500). 6 1 month settling-in allowance (1-month house rental) These are a great place to start you’re research. 13 Air ticket - home passage per year - number of pax - 2 ways On average, a package for an expatriate Middle Manager there is worth SGD 493 900 (USD 367 500). 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. Expat Forum > Relocating, Moving to Singapore - Moving to Singapore? According to a survey conducted by ECA, Asia is one of the best places for expats. This was one of the findings of the latest MyExpatriate Market Pay survey published annually by ECA International, the world's leading provider of knowledge, information and software for the management and assignment of employees around the world. The total cost of expatriate pay packages in Singapore for Middle Managers has fallen to a five-year low in USD terms.