Employee Benefits

About 50% of companies extend medical coverage to the dependents of employees. Insurance programmes are typically provided by companies to cover life, personal accidents and hospitalisation.

Other strategic rewards include job-related training and recreational facilities. For jobs that require travelling and entertainment, many companies also provide additional benefits such as transportation and entertainment allowances. The quantum typically ranges from S$600 to S$2,400.

Other benefits in non-work related areas for those on expatriate compensation packages include housing, childcare and payment of school fees.

Long-term incentives also play an important part in compensation packages. Close to 50% of companies in Singapore have in place some form of stock-based plans to reward and retain key employees, especially those at the management level. The most popular form of stock compensation that companies offer to employees is stock options. Stock option plans are particularly favoured by pharmaceutical, high-tech and electronics manufacturing companies.

Working Hours

Most companies operate a workweek with Saturday being a half-day and Sunday a rest day. Five-day workweeks are also becoming increasingly popular. This gives ample time for leisure activities on weekends.

Eight-hour workdays with an hour lunch break in between are common. The maximum work hours per week are capped at 44. As travel distance between office and home is very short in Singapore, there is always enough time to enjoy Singapore’s buzzing nightlife.

Monthly Gross Wage

In Singapore, the monthly gross wage includes overtime pay, commissions, allowances and other regular cash payments. However, it excludes bonuses, productivity or incentive bonuses, other lump sum payments and payments-in-kind.