Is ~17k MYR or ~10k SGD Salary Better for a Malaysian with Existing Assets?

The decision between a MYR 17,000 salary and a SGD 10,000 salary can be quite nuanced, especially when you already own a car and a house in Malaysia. This article will help you evaluate the two options based on net disposal income and quality of life, particularly from a purely financial and lifestyle perspective.

Net Disposal Income and Quality of Life

From a purely financial standpoint, MYR 17,000 can indeed provide a better quality of life in Malaysia. In comparison, SGD 10,000 will not go very far if you need to pay the going rents in Singapore, especially in the bustling city center.

Cost of Living Differences

To start, let's break down the cost of living in both cities. For instance, a SGD 10,000 salary translates into roughly MYR 32,000. This means you have MYR 15,000 more disposable income per month in Malaysia. This additional income can significantly impact your daily life and financial security. Furthermore, owning a car and a house gives you a certain level of financial safety and comfort.

Transport and Housing

Living in Malaysia, especially with the benefit of a car, offers more flexibility and convenience. Public transportation in Malaysia, such as buses and the MRT, is more affordable. In contrast, even if you can find affordable housing in Singapore, you will still face significant rent costs and the challenge of navigating the city's complex public transportation system.

Housing Expenditure

Housing is a substantial cost factor. If your employer offers a housing allowance or covers utilities, this can significantly reduce your housing expenses. If you're single, you can consider renting a one-bedroom flat for around SGD 1,000 per month depending on the location. However, with a family of three, you might need to rent a whole unit, which can cost SGD 2,000 or more. Before making any decisions, it's advisable to check the rental market and prices in the desired area.

Lifestyle Considerations

While the salary disparity is significant, it's important to evaluate other lifestyle factors. A MYR 17,000 salary in Malaysia still provides a comfortable net disposal income, allowing you to live comfortably close to your friends and family. You can enjoy the freedom of having your own car and the stability of owning a house.

In comparison, a SGD 10,000 salary in Singapore might mean a more hectic and less relaxed lifestyle, with the additional financial stress of higher rental costs and navigating the city's transportation system. Nonetheless, some might argue that the higher position and broader exposure in a regional post could be worth the trade-off.

Ultimately, the decision hinges on personal preferences and priorities. If you are married, consider the impact on family and friends. The bond you share with loved ones can be a significant factor in your decision. Additionally, the size of houses in Singapore may be smaller, and public transportation is your primary mode of transport unless your company provides a car.

Conclusion

While a SGD 10,000 salary is mathematically equivalent to working in Malaysia for 14 months, the cost of living and quality of life in Malaysia are more favorable. Malaysian housing and transportation are more affordable and convenient. Therefore, a MYR 17,000 salary with your existing assets can provide a better quality of life. Consider your personal and professional goals, but the financial and lifestyle benefits in Malaysia are clear.

Whatever decision you make, it is important to make an informed one. Good luck with your future endeavors!