Nishit,

After my 10th year, I would be able to give my comments about Dubai.

Unlike in US, Canada or UK here there is no salary standards :

My experience in Canada shows the average salary of an Engineer as :

Junior level : $ 36 K
Mid level : $ 48 k
Senior : $ 65 k plus

But in Dubai....salary is based on various conditions :

Salary for Indian :
Dhs 4000 pm small co
Dhs 7000 pm MNC
Dhs 15000 pm Oil co

For US/UK European citizens :

Dhs 12000 pm small jobs
Dhs 20000 pm MNC
Dhs 30000 pm Oil co.

There is no hard and fast rule here for success. Salary and benefits are based on Nationality.

Indians with US/UK experince and passport get better deal than normal guys.

Hence you should know which category you belong to and act.

Savings ;

Low category : 5 lakhs per annum
Mid level : 10 lakhs per annum
High category: 20 lakhs per annum


Deep

-----------------------------------------------------------------
U win some...lose some...everything is not justified in this world.

so from all this i feel singapore can also be ruled out for a place where when can save a lot and now it seems only Dubai is the place to be if you are ready to slog but then can save a great deal and it seems to me a smart move to take canadian citizenship even doing a labour job as the differnce in your pay cheque is 3 fold just because if you have a passport and then that permanency factor is also taken care of if u have a pass port from a western country.

For K.Raj

Earlier i was of the impression that Uk no longer has the charm it once had so can you throw some light on Uk so that you can enlighten felloew desis.

BlueLobster has mentioned in one of his post and many other members have also mentioned that in USA eaning is more but what about savings is it high cost of living as compared to Canada or there you save more then Canada.

Since biomed has stayed in Saudi and for anyone who is in a position to differntiate between Saudi and Dubai please throw some light on that as well.

-----------------------------------------------------------------
Sucess is not an accident it is a result of hardwork with intelligence.

Since you are outrightly rejecting Singapore as a place to save, I have to step in and put my thoughts on this subject.

Now when you say savings of 10 lakhs per annum – do you mean from day 1 of your career (out of school) or is it over a few years. I started living in Singapore in 1984 (six months out of passing CA, so almost fresh, and by the time I left Singapore in 2000, I had a cash savings of more than an average of 10 lakhs per annum.

Referring to K Raj’s posting, I would like to comment that while most of the costs are represented correctly, there seems to be some representation which could lead to wrong conclusions. They are like:

1. Education : Yes, unlike Canada, it is not free upto high school – but the cost? It is about S$12 per month for public schools. Now isn’t that almost free?

2. Medical IS subsidized to a great extent if you are a resident pass holder (whether a Permanent Resident or a work visa holder). For normal medical problems, you go to the neighborhood clinic and they charge (or they used to charge when I was there) $7 for consultation and $1 for each medicine prescribed and purchased from the clinic (including brand names), with a maximum of $4 – which means if you buy 5 medicines, the maximum cost is $11 per visit! Hospitalization for foreigners is charged I think at 1.5 to 2 times of a local’s charge.

3. Tax – the 15% mentioned by K Raj is for Non- residents (staying in Singapore for less than 183 days. Otherwise, it is graduated and the rates are VERY low compared to Canada/USA/Australia. I remember I used to pay about 4% average on a CTC of about 100k (yes I was able to plan it that way – not everyone can do it though) But even otherwise, at 100k level, average tax should be about 17-18%. And sales taxes (GST) is only 3% (unlike 7+8% = 15% here in Ontario).

4. When you are talking about an Indian going to live overseas, in Singapore he can start that only as a work visa holder – not a PR. As an expatriate, you get good salaries, just like Dubai, and $5,000 is easy to get after 2-3 years experience.

From here you can do your calculations.

Chandresh

-----------------------------------------------------------------
Chandresh

Advice is free – lessons I charge for!!

Thank you very much Chandresh for giving us details of singapore.


I mean after 3-5 years after one has started ones career.




I started living in Singapore in 1984 (six months out of passing CA, so almost fresh, and by the time I left Singapore in 2000, I had a cash savings of more than an average of 10 lakhs per annum.


thanks for sharing this with us.

I thank you once again for such a informative post and you have answered most of the the questions one might have but what i want is a detail break up like we have for Canada that what is a nessasity at a income level where u can save 10 Lakhs in singapore ; lead a good life ;with the tax implications in mind (general tough ) .

In this post when discusiing about canada you had mentioned that a second car is a nessacity in North america and everyone on board agreed to it tough no one had mentioned it earlier similarly i want these figures for various other countries.
I know you have left singapore 4 yrs ago but you can give m the figures of then and K.raj will update it as both of yours perspective is important to me and specially you as i assume K.Raj is very much junior to you.

-----------------------------------------------------------------
Sucess is not an accident it is a result of hardwork with intelligence.

I am not able to understand why do u have to look at dubai and singapore to save 10 lakhs Rupees an annum . It could be done in US/canada also if you plan properly and spend money carefully . When my wife and I were living in US , we both had IT jobs and we were saving more than US 40K per year after taxes and this is not by living "low" but by living average and maintaining a rented 2 bed furnished apartment and having 2 new Japenese cars .

When we moved to canada , she works here and I work in a US border town and we still save about 30K US per year after paying cdn taxes (RRSP included in savings) .we still have a rented 2 bed in canada and maintain 2 cars in canada.

I am sure it is not difficult if you can curtail your spending and not spend on impulse.


Any comments ??

-----------------------------------------------------------------
We will find a way or we will make one

Sir

If you follow the post carefully then we have all contributed and logically came to a conclusion that if both spouse work for 40 hrs a week for 52 weeks a year and earn $ 24 an hour then only saving 10 lakh is possible in Canada now we all know how difficult it is to earn $ 24 an hour for both spouse .

And information has not ruined anybody so we are just increasing our knowledge obout various countries.

-----------------------------------------------------------------
Sucess is not an accident it is a result of hardwork with intelligence.

Hi nishitno1

You are right ! I stand corrected .

-----------------------------------------------------------------
We will find a way or we will make one