Saturday, October 12, 2013

Think your pay is too low?

Just recently, I've had the chance to talk to some of my colleagues and classmates who come from other countries. There must be a reason why they choose to come to Singapore. Here are a few reasons I got from them:

They are from coutries like malaysia, vietnam and Philippines.

1) They think that the SGD currency is stronger and hence ita better to work in Singapore earning SGD.

When they convert back to their local currency, its really quite a lot.

2) They heard about how safe Singapore is.

3) The pay here is definitely higher.

4) It is quite easy to find a job here and get a work permit/pass.


These are the few reasons I found out. I went on to probe futher on how much is the salary in their home country for a degree holder.

For Malaysia, it is about MYR3000. This is about half of what we get in Singapore.

For Philippines,  it is only about S$1000. I can't remember how much it is valued in their local currency.

For Vietnam, this may shock you. It is 5000000VND. How much is it if you convert to SGD? It is only $295/month.


Well, we can say that the things in their country is cheaper. Not like Singapore where everything is expensive. However, the last time I went to Vietnam, I remembered their food prices have gone up quite a lot. It was reported that their inflation rate may exceed 8% in 2013.

In Philippines,  I heard from my colleague that it is very hard to get a job there. There are many university graduates but no jobs created for them.

Many come to Singapore in search for a better future. Mostly for the jobs and higher salary. Maybe Singapore is not so bad after all. But of course, we'll always want improvement. Things can always change for the better. Do you want higher pay and more expensive prices or lower pay and cheaper prices? How about higher pay and cheaper prices which many people wish to have? I think this will only happen in a fantasy world. The economy does not work that way.

Think your pay is too low? Think again. We're far more fortunate in our small island city.

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10 comments:

  1. Chun Siang (Jacky)October 12, 2013 at 12:08 PM

    Hi,
    Msia is RM5200?? I am surprised its so high as I am hearing from my friends the starting pay of graduate is more like RM3000.

    Or is it after few years of work.

    ReplyDelete
    Replies
    1. SGYIOctober 12, 2013 at 12:50 PM

      Hi CSCCC,

      That was what i heard from my colleague who's a malaysian. Its after about 3 years of work in the engineering field.

      Delete
    2. SGYIOctober 30, 2013 at 12:04 PM

      Hi CSCCC,

      You are right about it being RM3000. I've clarified with my colleague and it is indeed that low. Apologies for the confusion.

      Delete
  2. BOctober 12, 2013 at 9:12 PM

    Hi

    In my country, entry level only receive rph 2m which is equivalent to about S$200, but food and inflation have been rising steadily. Even food court food was about $4 if converted.

    I think I may post something about this too in the coming days. Think theres a lot to consider at least for me.

    ReplyDelete
    Replies
    1. SGYIOctober 12, 2013 at 9:50 PM

      Hi B,

      I can't imagine how to survive with $200. Food court food at $4 is already almost near to food prices in Singapore.

      Looking forward to your post. Inflation and wages is always something of concern to many people.

      Delete
  3. 15 HWWOctober 13, 2013 at 1:40 PM

    Hi SGYI,

    I think Singapore's cost of living isn't that high if you peg it against our salaries.

    If I am not wrong (conversations with Malaysian PRs), even though cost of living in KL is roughly the same as S'pore, the salaries for a similar job is easily 25% to 50% lower in KL.

    That's why so many of them are willing to come over (even after accounting for rent as an additional cost).

    ReplyDelete
    Replies
    1. SGYIOctober 13, 2013 at 2:41 PM

      Hi 15HWW,

      I agree. A graduate pay in Singapore is relatively higher compared to neighbouring countries. It is only the poor in Singapore who're suffering.

      To Malaysians, the salary in Singapore is still higher because of the exchange rate. It was 2 times in the past but have now become 2.5 times. This is already 50% more. You're right that salaries is easily 25-50% lower in KL. 5200MYR is only S$2080.

      Delete
    2. SGYIOctober 30, 2013 at 12:07 PM

      Hi 15HWW,

      I've clarified that salaries in Malaysia is RM3000. Apologies for the wrong information.

      Delete
  4. UnknownOctober 13, 2013 at 7:54 PM

    There is a need to look at various aspects when it comes to salaries. You are just looking at the absolute amount, which can be flawed. Cost of living, housing, cars, taxes have to be factored in as well. Please compare apple to apple.
    By the way, I changed my blog name to SG Wealth Builder (www.sgwealthbuilder.com). Please update. Thank you.

    ReplyDelete
    Replies
    1. SGYIOctober 13, 2013 at 8:36 PM

      Hi Gerald,

      Singapore is a definitely a better place for foreigners to work in. You don't normally hear Singaporeans wanting to go to Vietnam or Philippines to work.

      Right now, our highest cost is in housing and cars. I would agree that with our graduate salary, it'll be tough to pay for housing and cars. It is impossible to compare apple to apple since every country is different.

      I've updated your blog name in my blog list.

      Delete

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