Singapore is no stranger to foreign enterprise; it's been luring skilled expats with lucrative packages for decades. Even with government efforts to reduce the reliance on foreign workers in recent years, there continues to be a demand for qualified expats.
Many of the expats who find a job in Singapore are high earners who benefit from relatively low taxes and high disposable income. Expats are advised to always negotiate for inclusive employment contracts, but prospective job seekers in Singapore should be aware that comprehensive employment packages are increasingly reserved for those in the most senior positions.
More often, these days, companies are looking for foreigners who are willing to accept a lucrative salary without transportation, housing and education allowances. So, again, prospective employees are encouraged to negotiate to ensure that their remuneration is enough to cover all bases, including rent, utilities, medical insurance, school fees, transport and so on.
Job market in Singapore
Expats, especially those working in financial industries, shouldn’t struggle to find a job in Singapore’s vibrant and rapidly growing economy. The bustling city-state has emerged as Southeast Asia's premier banking and finance hub.
Many international corporations have headquarters or regional bases here, as both the infrastructure and physical location make Singapore an ideal platform to reach into the nearby Asian markets. Those prospective expats who work for one of these large multinational institutions should therefore consider transferring by way of their firm, and thereby potentially keep all existing benefits that they enjoy in their home countries.
Although many of the available jobs are still mainly in the financial sector with wealth-management firms, financial institutions, investment banks, insurance agencies and foreign exchange companies, there are also increasing opportunities in other areas of business such as management, IT, logistics, digital marketing and HR.
Finding a job in Singapore
A good starting point for expats and a helpful aid in the job search would be one of the countless employment agencies in Singapore, a significant portion of whose clients happen to be from Europe and North America seeking work opportunities in this dynamic economy. Employment agencies require the least legwork when it comes to securing a job. The biggest expat-recruiting industries are clustered around the technology, finance and logistics sectors, with engineering, accounting and management skills particularly in demand.
Apart from using agencies and recruiters, new arrivals will do well to search online. Employers will often advertise new vacancies on various web portals and sites such as LinkedIn, or on industry-specific portals and forums.
Expats should also consult the jobs section of The Straits Times, Singapore's daily English newspaper, and other news outlets' career pages.
Work culture in Singapore
Expats moving to Singapore for work should be prepared to take the philosophy of "work hard, play hard" to heart. Singaporeans and expats who've been in the city-state for a while are used to working to tight deadlines in an often high-pressure work environment but, on the flip-side, these high-pressure environments often go hand in hand with astronomical salaries allowing expats to enjoy the top-shelf lifestyle that Singapore offers.
There tends to be a strict hierarchy in Singaporean workplaces. Those who are more senior in age and position are afforded great respect and their decisions won't be openly questioned by those lower down in the pecking order. Expats may also find there are more rules in the workplace than they might be used to.
As Singapore is such a diverse destination, the workplace is sure to be filled with all sorts of cultures and ethnicities. Those new to the Lion City should make an effort to learn about the main cultural groups of Singapore and their traditions to ensure harmony in the workplace and that they don't offend their co-workers.