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Cheaper to Employ Staff in China or Singapore?
By Mark Geary

Beware of falling into the trap of making comparisons just on base salaries only when comparing Hong Kong salaries with other countries.

Social security is increasingly a major consideration that needs to be taken into account when comparing costs especially in relation to lower paid support staff.

In China social security can add another 44% in Shanghai and 49% in Guangzhou.

In Singapore the Pension Fund contributions are employee 16%; employer 20%.

The overall costs for social security across the Region are:

China
Up to 49%
India
36%
Singapore
34%
Vietnam
25%

(Source ADB)

If you are looking for lower costs, check out Indonesia where social security is only 9%.

So, ensure you look at total cost of employment when making comparisons concerning “salaries”!

 

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