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I've just took up a job with a thai public company and moved here since 3months ago. Still trying to adjust to living here thus couldn't offer more detailed advice which i am sure the rest of seniors could. So i would rather talk about my own experience here.
I am on first batch of expats employed by this company, though on expat payscale, still i gotta take a paycut of 20% from my sg job. As for gauging, my assistants with bachelor degree and 5-7yrs of work experience are drawing 22-25k monthly salary. I am not sure about property price as my accommodation is provided, but i guess a studio apartment (>40m2) rental near bts at central area goes for min 25-30k monthly. Anything lesser than that will be further places like udomsuk or punnawithi. Food price are quite reasonably cheap unless for restaurant, e.g. zhap cai png or noodle lunch at foodcourt in my office block cost about 40-50baht. Workwise i have experience much difficulties as i can only speak conversational thai and most of documents and stuff are still in thai. And importantly, anyone moving here have to adjust their mentality at work especially kan jiong spider type as i find generally they have lower sense of urgency towards work issue. I haven't been partying or drinking much here as i don't have much friends here yet. Lao jiaos here please correct me if i mentioned any wrong info above.
Cheers
Wah bro, 20% cut and you still decide to move and work at Bkk? Brave decision considering that taxes in bkk is not cheap! Can share what your thought process then when u made the decision?
Also can go for REIT stock counters as quantum no need so high.
For own stay pay in full is ok for a peace of mind but if for investment to get rental income ideally must leverage and take mortgage loan if not cash flow will be very tight.
All being said the days of low risk, high returns from real estate investments are a thing of the past.
Let's use bro Happyman007's condo investments as an example.
1st Condo bought 8 years ago -> Yield 10% p.a
2nd, 3rd & 4th Condo bought 2 years ago -> Yield 6% p.a.
To get a yield of 6% p.a. from a THB2.2 Million investment might as well invest in REITs with similar returns.
Lesser quantum and risk. No need to fuss over maintenance, tenant matters, etc.
Unrealised capital gains from property is not a gain until you realised (liquidate) it.
Haha, your point on condo is spot on. However, Reits also has its disadvantages as it is suceptible to price fluctuations.. Guess no risk no gains! There is also crowdfunding projects that one can get access too for high yield and shorter tenure, but need careful analysis and brace heart here😬
Wah bro, 20% cut and you still decide to move and work at Bkk? Brave decision considering that taxes in bkk is not cheap! Can share what your thought process then when u made the decision?
Actually doing away with the car in sg contributed much to the 20%. What they offered here though is much more of higher jobscope profile which will add value to my c.v.. importantly i know i wouldn't wanna stay too long here, have set myself certain timeframe before balik kampong
Wah bro, 20% cut and you still decide to move and work at Bkk? Brave decision considering that taxes in bkk is not cheap! Can share what your thought process then when u made the decision?
hahaha if any company in Thailand offered me a job with 20% cut I would accept it in a heartbeat. Not many companys there are able to give you an expat package and based on what Ive looked around, 20% aint that bad.
For me, working there is more for the experience than the money. And if you think about commodities and necessities like food is cheaper there by 30-40%, I think on a whole its very acceptable.
hahaha if any company in Thailand offered me a job with 20% cut I would accept it in a heartbeat. Not many companys there are able to give you an expat package and based on what Ive looked around, 20% aint that bad.
For me, working there is more for the experience than the money. And if you think about commodities and necessities like food is cheaper there by 30-40%, I think on a whole its very acceptable.
Actually the best route is to work for a MNCs in your local country and get an opportunity to delegate to BKK. Package will be equivalent with additional benefits such as flights/accommod/allowances. These are however rare to begin with. Direct employment with the company is definitely not worth it imho. 1) there is a salary cap even though things are cheaper by 30-40% 2) Local remun package 3) Taxes and insurances all adds up to more cost
However, if your mind is set to work and retire for the long term, by all means go ahead
There is also crowdfunding projects that one can get access too for high yield and shorter tenure, but need careful analysis and brace heart here
Don't waste time with high risk Crowdfunding loans.
Quote:
Originally Posted by smile_santa
For me, working there is more for the experience than the money. And if you think about commodities and necessities like food is cheaper there by 30-40%, I think on a whole its very acceptable.
When you actually stay in Bangkok then you tell me how much you really can save on food and groceries.
Ten years ago the inflation is still manageable.
For the past 5 years the inflation is ridiculous!
You can ask Malaysians about the price of groceries compared to Bangkok.
Transport wise Bangkok MRT/BTS is slightly more than expensive than Singapore MRT!
In Bangkok many white collar workers rather park their car at the nearest station from their homes and take trains to their office to beat the jams.
Taking train in Bangkok is a luxury 555.
Actually the best route is to work for a MNCs in your local country and get an opportunity to delegate to BKK. Package will be equivalent with additional benefits such as flights/accommod/allowances. These are however rare to begin with.
This type of lobang who don't want?
I also want 555!
When Japanese expats get posted back to Japan from Bangkok they'll cry!
Don't waste time with high risk Crowdfunding loans.
When you actually stay in Bangkok then you tell me how much you really can save on food and groceries.
Ten years ago the inflation is still manageable.
For the past 5 years the inflation is ridiculous!
You can ask Malaysians about the price of groceries compared to Bangkok.
Transport wise Bangkok MRT/BTS is slightly more than expensive than Singapore MRT!
In Bangkok many white collar workers rather park their car at the nearest station from their homes and take trains to their office to beat the jams.
Taking train in Bangkok is a luxury 555.
hmm.. I dont know whenever im there I think the food is still okay. For a bowl of rice or noodles you can still get something decent from 40-50 baht. Some commodities are still cheap like shampoo, toothpaste etc but theres also some items that are more expensive or comparable with Singapore such as hair care products etc.
But I agree with the BTS. Its really expensive with comparison to Singapore.
hmm.. I dont know whenever im there I think the food is still okay. For a bowl of rice or noodles you can still get something decent from 40-50 baht. Some commodities are still cheap like shampoo, toothpaste etc but theres also some items that are more expensive or comparable with Singapore such as hair care products etc.
But I agree with the BTS. Its really expensive with comparison to Singapore.
Don't forget the portion of Thai food is very small.
Using SGD 1 : THB25 as exchange rate.
THB40 = S$1.60
In Singapore the cheapest chicken rice is around S$2.50.
A waiter with low income of S$1000 can reasonably afford it.
S$1000 x THB25 = THB25,000
Is there a job in Bangkok thats pays a waiter THB25,000?
So a plate of chicken rice at THB40/S$1.60 is considered expensive to a Thai with low income.
What you're using to compare is by using exchange rate as a means of increasing purchasing power which cannot represent the affordability factor in a local context.
If one day chicken rice in Big C food court crash from THB40/S$1.60 to THB25/S$1.00 then yes I would say it is cheap even by local standards!
The only exception is Singapore real estate and private transport are very expensive compared to many other countries.
The expensive part is due to many factors which is another story for another time.
Not many companys there are able to give you an expat package and based on what Ive looked around, 20% aint that bad.
Quote:
Originally Posted by Ray84
Actually the best route is to work for a MNCs in your local country and get an opportunity to delegate to BKK. Package will be equivalent with additional benefits such as flights/accommod/allowances.
Most companies in Thailand or any part in this region will rather employ locals than a so called expat because of cost and labor law. U must have something special that locals dun have. Most likely, u will be sent to Thailand if your HQ has branch office there.
I am quite lucky, sent oversea for 10+ yrs by various SG companies to JKT, HAN, PP and BKK. Local companies did offer me but package was almost 50% less but to them, they are paying me top salary.
Been out in oversea too long, I will rather go back to SG to work.... guess this is what we say, moon is rounder on the other side of the earth.
Quote:
Originally Posted by TonyCheong2
The expensive part is due to many factors which is another story for another time.
Daily spending is definitely lower in this region outside SG if we are earning SGD. I been doing this for so many yrs and sometime when I am back in SG, I spend also a bit heart pain. Take an example, kopi tiam 1 bottle of beer about 6 SGD, while beer garden near my condo, 1 tower about 10 SGD in BKK and USD 1.5 per jug in PP .
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Ma sao khong the tha thu cho nhau mot lan
Daily spending is definitely lower in this region outside SG if we are earning SGD. I been doing this for so many yrs and sometime when I am back in SG, I spend also a bit heart pain. Take an example, kopi tiam 1 bottle of beer about 6 SGD, while beer garden near my condo, 1 tower about 10 SGD in BKK and USD 1.5 per jug in PP .
Another example is why Singaporeans like to go Malaysia JB. Exchange rate almost SGD 1 - RM 3. To Singaporeans, going there to eat, massage and shop is cheap but to locals earning local currency there, it is very expensive. 1 cup of kopi with milk about RM 1.50. Try paying SGD 1.50 for a cup of kopi in a neighbourhood coffeeshop with no-aircon.
I appreciate the time taken by all fellow samsters on providing their invaluable inputs especially those with experience in residing in LOS. It has opened up alot of nuances which otherwise might be blinded by our tourist-tinted glasses.
Been out in oversea too long, I will rather go back to SG to work.... guess this is what we say, moon is rounder on the other side of the earth.
Daily spending is definitely lower in this region outside SG if we are earning SGD. I been doing this for so many yrs and sometime when I am back in SG, I spend also a bit heart pain. Take an example, kopi tiam 1 bottle of beer about 6 SGD, while beer garden near my condo, 1 tower about 10 SGD in BKK and USD 1.5 per jug in PP .
The sad truth is that u get oversea exposures but at the sacrifice of higher earning potential during your prime years... Opportunity cost at play here..
Chanced upon this strategy shared by a farlang who is staying in Bkk. As Thais are not into buying second hand condos, he scouted around for fire-sales and bought 2 second hand condos at a big discount to market prices.. Next he refurbished the condos into looking those modern contemporary style and managed to rent out on long term contracts to 2 tenants that are students.. Average yield around 10+%. Foods for thought..
28-10-2016, 01:19 AM
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