Many people are curious about the cost of living in different countries, especially when considering a move to another country. In a previous video, the YouTuber, Ah, discussed retiring in Malaysia, which garnered a lot of views and comments. In this article, he compares the prices of food between Singapore and Malaysia, with the aim of determining which country is more affordable for fresh graduates.
Exchange Rate: SGD vs. MYR
The current exchange rate between Singapore dollars (SGD) and Malaysian ringgit (MYR) is one Singapore dollar to 3.22 Malaysian ringgit. However, Ah notes that the exchange rate used to be 1:3, which means that the SGD has appreciated against the MYR, making Malaysia more attractive on a cost level.
Fresh Graduate Salary Comparison
Despite the attractive exchange rate, Ah notes that the median fresh graduate salary between Singapore and Malaysia is vastly different. Based on a study, Singapore fresh graduates get a median salary of SGD 3,600 on their first job after graduating from college. On the other hand, Malaysian fresh graduates earn MYR 2,500 per month. Although these numbers may vary depending on industry and job roles, Ah notes that SGD 3,600 is around the median for fresh graduates in Singapore.
Food Prices Comparison
Ah then compares the prices of food between Singapore and Malaysia. One iconic Malaysian food is the Ramly burger, which Ah had the chance to try on a recent trip. A Ramly burger with beef patty and egg costs MYR 4.50 or SGD 1.40. Although it may seem cheap for Singaporeans, Ah notes that it is not that cheap when compared to the Malaysian fresh graduate salary.
Ah also visited a Malaysian Chinese coffee shop, where prices for food ranged from MYR 5.50 for the smallest portion to MYR 7.00 for the large portion. In comparison, prices in Singaporean local coffee shops range from SGD 4.00 to SGD 7.00. Ah notes that in Malaysia, you cannot find anything lower than MYR 5.00 in non-air-conditioned local coffee shops. In Singapore, you can still find food below SGD 5.00, even in air-conditioned food courts.
Conclusion
Based on Ah’s comparison of the cost of living in Singapore and Malaysia, Singapore may be a bit cheaper in terms of food prices, but the fresh graduate salary is significantly higher in Singapore. Therefore, it is important to consider the cost of living and the potential earning power in each country before making a decision to move.
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