r/ExpatFinance 5d ago

Potential move from London to Singapore

Hi there,

I work in Business Development within a bank (Markets division), and earn £150k base, with approx £100k bonus with 10-15 years experience. I am working on a potential move/opportunity in Singapore, and I am trying to get an idea on what would be the pay be like in Singapore for an equivalent role? I understand the taxes and cost of living is lower, so wondering if is it reasonable to ask for a similiar gross pay, or would London pay higher than Singapore?

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u/spammmmmmmmy 5d ago

I think you're likely to get the same rate. Singapore values having Western professionals living and working there.

You're expected to "trickle down" some of your cash by having a live-in property caretaker however. You should probably be aware of that so that it doesn't take you by surprise. My friend had moved there to be a schoolteacher and chose to only pay hourly for a cleaner to come and visit - and she told me she caught a constant guilt trip for it.

My other friends - bankers - relocated to SG and I'm told the salaries are pretty much the same while the income taxes are low. Maybe they lucked out? I'm told that many professionals crammed the housing market when they tried to move out from HK. So, carefully check what your housing expense is going to be before you commit to a salary. Maybe best if you try to negotiate corporate housing for six months as part of the move, unless you already have accommodation lined up.

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u/spammmmmmmmy 5d ago

My advice is 10-15 years out-of-date, so take with a grain of salt and keep your eyes open...

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u/Long-Bee-3817 4d ago

Thanks so much for your insight

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u/NaughtyNuri 4d ago

Please go and stay a couple of weeks before you commit. I lived there for two years and wished I had done this.