Moving from USA to Singapore

[Chen Venkat]

Hi,
Currently I am consulting for an Investment Bank in USA through an Indian services company on a L1 Visa. And because of my visa conditions because of which I cannot shift companies in USA, my organization is offering me compensation very much below market value (66k). I am having 5 years experience in financial domain developing distributed trading platforms and financial instruments pricing applications. I have received an offer from an investment bank in singapore. The offer is around 90K SGD with 6k joining bonus and they will take care of all relocation. What do you think about the compensation... I feel that it is very much on the lower side as I was expecting around 110 plus atleast and quite disappointed with the same. But I do not have much idea about Singapore market- so would like to know about the offer and whether it is worth it. I dont want to feel exploited the same way which I feel working with my current company. I would happily move back to India in 15-16 lpa offers which is pretty good for Indian markets rather than working below markets in other countries.
Sorry for the long mail.

Thanks

[arulk pillai]

When I googled I found this site http://www.payscale.com/research/SG/Country=Singapore/Salary and there may be other similar employment sites.

My other advise would be look beyond just pay. For example, Exposure to overseas markets and culture, Soft skills if any, opportunity to grow within the company, etc.

[Chen Venkat]

Thanks Arul.
Can someone give me more info about the work culture and whether the salary is good enough say w.r.t 15 lpa in India as I would prefer India anyday.I googled through the posts and actually it sounds quite scary reading work culture in Singapore And found out that this bank just fires people for one mistake!
In India I will be working with a known team and it is in comfort zone. I was with a Bank in USA and spent a year slogging 15 hours a day Do not want to continue that lifestyle definitely!
Please provide more inputs.

Thanks a lot.
Chendu
[ June 02, 2008: Message edited by: Chen Venkat ]

[Sai Surya]

Venkat, Check your PM.
[ June 02, 2008: Message edited by: Sai Surya ]

[Nicholas Jordan]

There is a lot more to it than just raw pay numbers. I used to think that when I was young. I will now take a lower paying job if the employer knows what they are doing. Of course for banks it is reasonable to expect some consistency for comparable bracket, I would not expect banking to foster an overly competitive market. Stability is paramount to banking.

Just ask them what they can do to justifiy their lower offer. If they give you what seems to be a reasonable response, give it consideration.

If the response goes something along the lines of Great And Fabulous Company not allow such Low and Rude Questions,... then make sure you do not get any more emails from them.

[Sandeep Ghosh]

96K is quite a good salary in Singapore. I also choose to stay in Singapore rather than USA last year when I was asked to relocate to USA. Regarding firing policy it is just like what happens every where. Big banks governed by global policy so don't expect any Singapore specific HR policy. Check your PM.