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发表于 2013-9-24 21:32:01
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The Ministry of Manpower (MOM) will raise the qualifying monthly salary for new employment pass (EP) applications from S$3,000 to S$3,300 from January 1, 2014.
This move comes "in line with rising salaries" and means that young foreign professionals applying for the pass to work in Singapore must draw a salary of at least $3,300 a month, MOM said on Monday.
As has been the case, more senior applicants will have to command higher salaries to qualify, commensurate with the work experience and quality they are expected to offer.
The last adjustment to the qualifying salary threshold was made in 2012 and the government has signalled earlier this year that another upward adjustment is due.
Meanwhile for Singaporeans, in 1980 the price of a 3-room HDB flat in Queenstown is $20,000. The salary of a factory operator was $500 a month or $6,000 a year then. Going by the Price-to-Income ratio, the price of 3-room flat in Queenstown then was 3.33 times of annual salary of a factory operator. At ratio less than 5, it is considered quite affordable to buy the flat.
By 2013, 33 years later, the price of a 3-room HDB flat in Queenstown has risen to $335,000 while the salary of a factory operator is only $1,100 a month or $13,200 a year. The Price-to-Income ratio in this case is calculated to be 25.4, grossly unaffordable to a factory operator.
Indeed, in the last 33 years since 1980, the salary of an operator goes up roughly 2 times ($500 to $1,100) while a 3 room flat in Queenstown goes up 17 times ($20,000 to $335,000)!
Even the price of a bowl of noodle goes up 3 times from $1 in 1980 to the current $3, much more than the 2 times increase in an operator’s salary.
However, The Real Singapore thinks that the new move by MOM is good because employers won't have the mentality of hiring "Foreign Talents" just because they are cheaper. |
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