Cash salaries for expats in Singapore remain the fifth highest globally: ECA International

Singapore — Cash salaries for expatriates in Singapore remain the fifth highest globally, shows a survey published by data and knowledge provider ECA International on Wednesday (Aug 25).

Being the 17th most expensive location globally for companies to send expatriates to, the average pay package for a mid-level expatriate here last year was S$305,400 (US$225,171). This figure was higher in 2020, at about S$314,579 (US$232,471).

According to an ST Online report, human resource advisory firm PeopleWorldwide Consulting’s managing director, Mr David Leong, noted that while basic salary would typically remain at about the same level, housing allowances and support for children’s education has been reduced in the past year.

“Overall pay packages for current expats see little contraction since they are subject to the Ministry of Manpower’s qualifications and if the package is reduced, it may affect their renewal chances,” he said.

On the whole, though Singapore spent less to employ expatriate middle managers last year, it still needed to ensure that expatriates who are in demand in sectors like technology are attracted by remuneration packages.

Mr Lee Quane, ECA’s regional director for Asia said: “Combined with its ranking as the location with the best quality of living globally (according to ECA’s location ratings), these trends serve to increase Singapore’s attractiveness to expatriates looking to move to the region”.

“The Republic will also be appealing to companies looking to set up a regional hub, given the cheaper cost of hiring expatriates”, he added.

Singaporeans indicated that even though there was a reduction in the salary packages of expats’, many felt that this would likely not mean much in terms of lifestyle for them.

Others also questioned why more locals were not hired in place of expats.

/TISG