Bring an umbrella for the rain or for the sun haha. The situation has been changing over the past two decades, with I would say most expats now on local contracts i.e. 20 40 footer container - 1 way In most cases expat packages total around 35% more than the package you’d receive for the same role back in the US. Utilities covers heat, light, water and telephone charges. Expat Packages Are Worsening in Singapore and Hong Kong: Survey By . 12 Children's school fees x number of children “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. Singapore is ninth in the Asia Pacific regional rankings this year. 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 Forum > Business in Singapore - Discuss your views about Singapore business & economy, current policies & issues, starting a business in 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." Bloomberg the Company & Its Products The Quint. What is a good expat package?! Singapore, Singapore - Salary - Get a free salary comparison based on job title, skills, experience and education. 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. 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. There are a number of ways in which salary packages for expatriates may be calculated. Other costs to take into account are things like internet packages, which are usually around S$43 a month. 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. There are several different types of expatriate contract and these will determine what the employment obligations will be- 1. 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. 5 Cost of living allowance per month 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. Many expats take this option because they enjoy living in their new home country, but it can be hard seeing your comforts stripped away. Certain types of allowances are specifically excluded from the analysis in the reports. Family Medical Insurance, 1 Home flight for 4 pax per year, Accommodations, Handphone bills, Utility bills, Children school fees, others, etc. Compensation packages may include a housing allowance, depending on the location and cost of living. 0 0 0 Shares. When tax is excluded, India falls out of the regional top 10 locations. I say do it. "A typical expat package is tied to a short-term international posting of approximately three to five years. 6 1 month settling-in allowance (1-month house rental) We are excited to welcome Sarah to our Expat Life Interview Series. 16 Medical and Hospitalization Insurance (Worldwide) It's not a full answer but a few things to remember- some more obvious than others. The actual costs or allowances paid to cover these benefits vary widely according to each company's policy. Topping the list globally was the U.K., with an average expat package of $421,798. This could cause real financial issues for you if you’d like to remain in Singapore. The benefits you get really do vary from employer to employer, and whether you get a full expat package. Expat Forum > Relocating, Moving to Singapore - Moving to Singapore? Hey guys! 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. 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. 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. 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. Singapore is attractive relative to other Asian countries. ), but do it. “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. 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. “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. Expat relocation packages explained, including what you most likely be offered in your expat relocation package. 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. 8 Hotel expenses up to 1 month while personal effects are on the way to 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. “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. We provide the following expat's employment terms and conditions: 1 Basic annual salary The accommodation figure is representative of the cost of housing two adults and one child. 3 Notice of termination I'm in the midst of negotiating with a Korean employer on what should be included in the package. Expat Packages Are Worsening in Singapore and Hong Kong: Survey By . A total package for an expatriate Middle Manager in China is worth around SGD 379 800 (USD 282 500) on average. On average, a package for an expatriate Middle Manager there is worth USD 329 000. Expat tax. There are tons of events and get-togethers and you’ll meet expats from all over the world living in Singapore.” Singapore is a very attractive proposition for both companies and expatriates alike. Expat packages in Singapore fell 6 percent in 2017 to S$316,600 per annum, inclusive of salary, tax, and benefits.. 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. McNulty isn’t the only one who has noticed a rise in localisation packages. Many expats take this option because they enjoy living in their new home country, but it can be hard seeing your comforts stripped away. 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. Question. Education assumes one child attending a local international school. The results, free to participants, enable companies to benchmark their expatriates' actual salaries against the market. 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 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. 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 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. When choosing an expatriate pay approach, companies need to be clear about the reasons behind the assignment so that their choice reinforces this. On average, a package for an expatriate Middle Manager there is worth SGD 493 900 (USD 367 500). Reading Time: 3 minutes. The cost of an expatriate package has fallen in Singapore by six per cent in USD terms over the past five years. 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. India’s tax element has the opposite bearing to Singapore’s, with high tax making it less appealing to foreign companies. For this reason, it is the “expat package” that is considered most interesting in the discussion of expatriate compensation. Sign in and follow the ECA blog to receive regular updates by email. She talked about her expat experience in Singapore. 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. Expat packages are one of the reasons that executives originally considered taking positions overseas. Singaporean employers are often keen to acquire skilled workers from other countries and salaries can therefore be extremely competitive. 19 Prescription Eye Wears benefits - Amount x number of pax per 2 years 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. They can include reduced base salaries (averag… Ask our regular expats in Singapore questions on relocation and their experience here. 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. 11 Car petrol, tolls, parking Despite tough competition from other Asian countries such as Hong Kong and Japan, Singapore remains a favorite for expatriates. 5. It’s worth the money! 18 Dental benefits - Amount x number of pax per year ”. 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. 2 Premium on salary These are a great place to start you’re research. Eric Lam , May 17, 2017, 5:16 AM EDT Singapore packages lowest in five years in U.S. dollar terms Hong Kong packages … 17 Long term disability leave 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. For simplicity, expat packages fall into three basic categories: 1) Full Expat package, 2) Expat Lite and 3) Local Hire. (45 Posts) Add message | Report. allowances that aim to cover the costs of relocation and make the process smoother Japan is home to Asia's most expensive expatriate packages. Hello all, I was wondering if anyone knows or have been offered any expat packages before. Note: I will not be teaching in Korea. 15 Banking fee - transfer of money from Singapore to the country of origin, how many times a year 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. McNulty isn’t the only one who has noticed a rise in localisation packages. The value of a typical total expatriate package for Middle Managers in Singapore is now USD 239 400. 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. Ask about salaries, expat packages, CPF & taxes for expatriate. 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. India has the third highest total expatriate pay packages in the region, at SGD 373 500 (USD 277 900). This will also need to be balanced against benefits and costs to the business. A typical pay package there is now US$268,514, up by US$3,027. Ask about banking, employment pass, insurance, visa, work permit, citizenship or immigration issues. 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. It just takes so much stress away. Tax figures used here refer to employee taxes and do not take company contributions into account. 14 Annual leave per year 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. 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