Expatriates working in Singapore are doing well economically. 45% of them are earning an income of more than S$265,000, according to the HSBC Expat Explorer Survey 2010.
Note: S$265k = US$200k.
According to the survey report, Singapore is ranked 1st by the proportion of expats who make more $200k USD a year. Bermuda is 2nd with 40% of its expats in the same income bracket. Hong Kong is 3rd with 36%, and Saudi Arabia a close 4th with 35%.
However, if we rank by the proportion of expats with a monthly disposable income of more than US$3,000, Russia is ranked 1st, with Qatar, Bahrain and Saudi Arabia in joint 2nd, Bermuda 5th, UAE 6th and Singapore 7th. China is 8th and Hong Kong 9th.
I guess this means either Singapore’s cost of living is higher, or there are more ways to spend money (and enjoy life) in Singapore.
The HSBC report also mentions that 29% of the expats in Singapore are working in Finance industry. This is more than twice that in the next industry category “Construction/Manufacturing/Utilities”, which has 12%.
So, finance is the way to go, mate.
If you are a foreigner reading this, come to Singapore to work. You have a nearly 50% chance to make US$200k or more!
See also Citizens A Minority in MNCs.