For the fresh graduates out there, if you think you are going to land a place in an MNC or big company, think again. Competition is tough. You have to fight with fellow Singaporeans and most importantly foreigners who are equally good as you. Or even better.
Expatriates work in Singapore on Employment Passes (EP). Numbers taken from Ministry of Manpower website shows that there were 187,700 foreigners on EP., read HERE They are mostly professionals, managers and executives who earn at least S$3,600 a month. Big firms are willing to spend the big bucks to engage specialized professionals so that their company can perform. Now think about how much can a fresh grad earn?
Expats in Singapore receive some of the most generous expatriate salary and benefits packages. The value of a typical package for Middle Managers in Singapore is S$316,600, including salary, benefits and tax components, according to source HERE
For the expats, they reported a 42% increase in their annual income to an average of S$160,000, according to the findings from HSBC's latest annual Expat Explorer report, which polled 27,587 expats across the world, including 476 foreign nationals in Singapore. That is more than S$13,300 a month!
As we can see, the main bulk of the package is the benefits, which includes accommodation, international schools, utilities or cars. Read HERE.
Let’s put it into comparison and perspective.
For example a local manager who earns S$6,000 per month and has a BTO housing loan of S$1,200 per month and a car loan of S$1,600. The expat earns S$7,300 more, and need not worry about his accommodation and car. Even his families are heavily well taken care of. Our poor local manager will have to save more for his children’s education and other financial plans.
What’s more is that expat are also beginning to invest in property, making the already rich even richer. To add on to the misery, "Expats are not leaving Singapore in large numbers, or larger numbers than at other times. Expats are actually staying longer and putting down roots," commented DR YVONNE MCNULTY, a SIM University senior lecturer who specialises in expatriation and global mobility. You can read more HERE.
The rights of the Singaporeans should be protected. Organizations should favour the Singaporean in terms of employment instead of those EP. Local big firms should take the lead in protesting our rights. We should also enjoy higher housing grants and benefits and also the chance to continually upgrade and improve our standard of livings, and not work like a slave with little returns.
We welcome contributors to send us your write up and thoughts to share with our readers.