Singapore vs. Zürich - Wages and Others - Page 2

Treverus · #21 29.01.2012, 03:58

	Quote:	NikItaly
	SG is not only for management positions. There's good demand for top notch trading systems developers, the algo and high frequency trading are picking up a lot there and HK is loosing is momentum to the better organised SG. That's my first impression with the first contacts I'm having with the singaporean financial sector.

So what does "demand" mean exactly? There were lots of job opening that fit my former job experience perfectly, but the non-management salaries are not very attractive.

I love living in Singapore, but I can tell you that it is only fun if you make the cash to do the fun stuff... and I can tell you that I have looked for a job here myself just a few months ago: Just cause there is demand does not mean they are going to pay you what you are used to in Switzerland. Baseldvd is completely right: an average job which can get you 120k in Zurich will not get you 100k Sing here, typically between 75k and 90k. I would not move here for a job that pays 75k. I have a team of experienced software developer, all with a lot of experience and expert know how in their field. None of them makes 75k. You will compete against the top 1% of Chinese, Indian, Malaysian and Philipino IT folks who all want to come here. And before you trash them can I tell you that the top guys there are just as good as the top guys in Europe. My current team is surely better than the guys I used to work with in Zurich and cost a fraction...

That said are banking jobs here even more disconnected from the real world as in Zurich and I know people who earn bizarre salaries. A headhunter actually explained me how this happened: In 2008 did all the major banks downsize... except of one who has a strong focus on Asia and therefore did not lose much money. Standard Chartered. They had the cash and started to throw money into the job market to get the best talents at the time everyone was looking for a safe job. The other banks had to react and now are banking jobs completely overpaid compared to any other business.
My personally opinion is that a bubble like this will correct itself sooner or later, but if you can get a great salary here - no doubt, take it!

Wollishofener · #22 29.01.2012, 19:27

	Quote:	Treverus
	So what does "demand" mean exactly? There were lots of job opening that fit my former job experience perfectly, but the non-management salaries are not very attractive. I love living in Singapore, but I can tell you that it is only fun if you make the cash to do the fun stuff... and I can tell you that I have looked for a job here myself just a few months ago: Just cause there is demand does not mean they are going to pay you what you are used to in Switzerland. Baseldvd is completely right: an average job which can get you 120k in Zurich will not get you 100k Sing here, typically between 75k and 90k. I would not move here for a job that pays 75k. I have a team of experienced software developer, all with a lot of experience and expert know how in their field. None of them makes 75k. You will compete against the top 1% of Chinese, Indian, Malaysian and Philipino IT folks who all want to come here. And before you trash them can I tell you that the top guys there are just as good as the top guys in Europe. My current team is surely better than the guys I used to work with in Zurich and cost a fraction... That said are banking jobs here even more disconnected from the real world as in Zurich and I know people who earn bizarre salaries. A headhunter actually explained me how this happened: In 2008 did all the major banks downsize... except of one who has a strong focus on Asia and therefore did not lose much money. Standard Chartered. They had the cash and started to throw money into the job market to get the best talents at the time everyone was looking for a safe job. The other banks had to react and now are banking jobs completely overpaid compared to any other business. My personally opinion is that a bubble like this will correct itself sooner or later, but if you can get a great salary here - no doubt, take it!

Such a "bubble" may correct itself, but rather later. In Zürich, it took half a century and still is not complete .... it started in the late 1950ies and still is going on

Venturello · #23 30.01.2012, 15:20

Always been curious about Singapore after a business trip there last year. Are the working ours (not in banking but medical devices/pharma) much more demanding than here? What about holidays?

Father with small kids who loves coming home at 6 most days.