Salary package (financial industry) good for family? Help Please!
Jun 30th 2012, 4:43 am
#31
BE Forum Addict
Joined: Jun 2008
Location: Abu Dhabi by body and Sydney by soul
Posts: 1,841
Re: Salary package (financial industry) good for family? Help Please!
I think you have to be realistic, you would only get a large pay increase to come here if you were being underpaid for the same role in the UK. It's an easy place to live and big funds in the financial industry here are very big players internationally too.
However, the benefits and tax free salary all add up. Do you get a gratuity added in monthly too?
However, the benefits and tax free salary all add up. Do you get a gratuity added in monthly too?
Jul 1st 2012, 2:22 pm
#32
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: Salary package (financial industry) good for family? Help Please!
In that case you must be given a really shit time out here. Worse than the abuse you get on this forum.
Jul 1st 2012, 4:52 pm
#33
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Joined: May 2008
Posts: 5,125
Re: Salary package (financial industry) good for family? Help Please!
Thanks, everyone! A good lesson for me. Hubby's job in london is quite safe, so donot realise the supply has increased so much, even in ME. Then it seems there may be not much room left for negotiation, according to the law of supply and demand 
Need to search for more info on housing and education before getting back to the company. Heard that there are long waiting lists for good schools
Need to search for more info on housing and education before getting back to the company. Heard that there are long waiting lists for good schools
Jul 1st 2012, 4:53 pm
#34
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Re: Salary package (financial industry) good for family? Help Please!
[QUOTE=angela2012;10146648]Thanks, everyone! A good lesson for me. Hubby's job in london is quite safe,
would stay where the job is safe, here you can be gone on that days flight for no reason at all.
would stay where the job is safe, here you can be gone on that days flight for no reason at all.
Jul 3rd 2012, 7:57 am
#35
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Re: Salary package (financial industry) good for family? Help Please!
If your motivation for the move is money then it's obviously a 'you would be mad to do it'. If the motivation is shorter hours, sun, adventure and to ruin your kids' education while reducing the family income - go for it.
Last edited by Millhouse; Jul 3rd 2012 at 8:04 am.
Jul 3rd 2012, 8:07 am
#36
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Re: Salary package (financial industry) good for family? Help Please!
How can you honestly comment when you pepper capital letters and quotation marks at random through everything you write? I assume you are not stupid and actually know what you are doing is incorrect.
Oct 25th 2012, 8:39 pm
#37
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Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
Hello everyone,
Firstly, let me say “Hello” as I have read through the forum here and it all seems very helpful! Now it comes down to a big family decision and any suggestions are appreciated!
My husband recently got an offer in Abu Dhabi and it is much lower than what we expected, though the agent insists it is an decent offer.
Here is the package:
Basic: 40K AED per month
Expat: 9K AED per month
Housing: 20K AED per month
School: 40K AED per child per annum
Bonus: 0% - 130%
LONDON: At the moment, my husband earns OVER 150K per annum including bonus (he got offered 220K a year ago by another company in London, but we rejected that offer), though with really long working hours; I earn over 40K with good holiday and benefits. We have two children, my older one will go to middle school soon, but he has high chance of getting into one of the best grammer schools in london, so basically education is free in london. we could have very decent life here, even if we decide to send our children to private school.
ABU DHABI: If we move to abu dhabi, the upside is that it is tax free, and the company claims that there is a cash bonus up to 130% of basic salary. But you know, it is not guaranteed... Both my hubby and I are very disappointed with the basic. We are not really better off if we move to abu dhabi to earn this basic salary. Plus, I have to sacrifice my career, for at least one year or two, before landing another job in abi dhabi if I could. The education allowance will be enough for junior school, but it seems that we have to top up for senior school? Is the housing allowance enough for a family of 4 and a maid?
We could not move the whole family there based on this basic salary. Do you think this is a fair offer based on my husband's current salary? To be honest, the minimum basic salary i would ask for is 70K. Am I too ambitious? Will I piss the company off? The agent said the company usually does not negotiate!!! IS this common?
Another confusing thing is it is a 3 year fixed contract rather than permanent position? Is this common in Abu dhabi? We got first class tickets on joining and termination, but no annual travel allowance? Should not the contracter salary higher than permanent role?
Thanks, everyone. We need to make decision soon, so really appreciated if you could share your experience and advise. Thanks in advance.
Firstly, let me say “Hello” as I have read through the forum here and it all seems very helpful! Now it comes down to a big family decision and any suggestions are appreciated!
My husband recently got an offer in Abu Dhabi and it is much lower than what we expected, though the agent insists it is an decent offer.
Here is the package:
Basic: 40K AED per month
Expat: 9K AED per month
Housing: 20K AED per month
School: 40K AED per child per annum
Bonus: 0% - 130%
LONDON: At the moment, my husband earns OVER 150K per annum including bonus (he got offered 220K a year ago by another company in London, but we rejected that offer), though with really long working hours; I earn over 40K with good holiday and benefits. We have two children, my older one will go to middle school soon, but he has high chance of getting into one of the best grammer schools in london, so basically education is free in london. we could have very decent life here, even if we decide to send our children to private school.
ABU DHABI: If we move to abu dhabi, the upside is that it is tax free, and the company claims that there is a cash bonus up to 130% of basic salary. But you know, it is not guaranteed... Both my hubby and I are very disappointed with the basic. We are not really better off if we move to abu dhabi to earn this basic salary. Plus, I have to sacrifice my career, for at least one year or two, before landing another job in abi dhabi if I could. The education allowance will be enough for junior school, but it seems that we have to top up for senior school? Is the housing allowance enough for a family of 4 and a maid?
We could not move the whole family there based on this basic salary. Do you think this is a fair offer based on my husband's current salary? To be honest, the minimum basic salary i would ask for is 70K. Am I too ambitious? Will I piss the company off? The agent said the company usually does not negotiate!!! IS this common?
Another confusing thing is it is a 3 year fixed contract rather than permanent position? Is this common in Abu dhabi? We got first class tickets on joining and termination, but no annual travel allowance? Should not the contracter salary higher than permanent role?
Thanks, everyone. We need to make decision soon, so really appreciated if you could share your experience and advise. Thanks in advance.
I am in a similar position to you. Am currently working in UK and considering an offer in Abu Dhabi that is very similar to what you have described. I was also a little bit deflated when I saw the details.
Would love to hear how your negotiations went! Any news?
Oct 25th 2012, 8:46 pm
#38
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
Surely no one is actually locked in for three years right? If your family hate it then sure you can leave and as long as you have few assets in the country there is no reason why you can't leave, right?
Oct 26th 2012, 4:31 am
#39
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: Salary package (financial industry) good for family? Help Please!
of course you can leave. But, coming back may not be an option unless you do it all properly. It's no big deal, as even the labour bans can be got around these days.
Oct 26th 2012, 9:17 am
#40
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
You seem to be a regular contributor to this forum and up to speed on the state of play in Dubai and Abu Dhabi, particularly with respect to working for government related entities. I would be interested to hear your thoughts about the packages being offered for finance professionals in the country.
I have been offered a deal which basically halves my current basic salary and then adds in a number of benefits (accommodation, gratuities etc etc) on top to bring the gross salary in the ballpark of what I am currently on. Does this seem like a standard offer? I was underwhelmed since I have tended to view the expat benefits as additional to a competetive base salary and not included within it - particularly because the benefits are for the family as a whole and not for me specifically, and the fact that there are not any pension schemes at any of the government companies. I am wrong?
Any thoughts much appreciated, thank you.
Oct 26th 2012, 11:16 am
#41
Just Joined
Joined: Oct 2012
Posts: 29
Re: Salary package (financial industry) good for family? Help Please!
If it is ADIA I would take the bonus figure of 130% with a large pinch of salt. Figure on a bonus of nearer 25% as a minimum with nearer 50% in a good year and this would be on the base salary.
Oct 26th 2012, 11:55 am
#42
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Posts: 15,887
Re: Salary package (financial industry) good for family? Help Please!
Millhouse, thanks for your comment. I agree it would be difficult to return again, but if the reason you are breaking the contract is because your family hate living there, then the fact that you won't be able to return doesn't seem like a terrible consequence!
You seem to be a regular contributor to this forum and up to speed on the state of play in Dubai and Abu Dhabi, particularly with respect to working for government related entities. I would be interested to hear your thoughts about the packages being offered for finance professionals in the country.
I have been offered a deal which basically halves my current basic salary and then adds in a number of benefits (accommodation, gratuities etc etc) on top to bring the gross salary in the ballpark of what I am currently on. Does this seem like a standard offer? I was underwhelmed since I have tended to view the expat benefits as additional to a competetive base salary and not included within it - particularly because the benefits are for the family as a whole and not for me specifically, and the fact that there are not any pension schemes at any of the government companies. I am wrong?
Any thoughts much appreciated, thank you.
You seem to be a regular contributor to this forum and up to speed on the state of play in Dubai and Abu Dhabi, particularly with respect to working for government related entities. I would be interested to hear your thoughts about the packages being offered for finance professionals in the country.
I have been offered a deal which basically halves my current basic salary and then adds in a number of benefits (accommodation, gratuities etc etc) on top to bring the gross salary in the ballpark of what I am currently on. Does this seem like a standard offer? I was underwhelmed since I have tended to view the expat benefits as additional to a competetive base salary and not included within it - particularly because the benefits are for the family as a whole and not for me specifically, and the fact that there are not any pension schemes at any of the government companies. I am wrong?
Any thoughts much appreciated, thank you.
As for the package - without knowing the numbers it's hard. You really need to try and work out what you would be saving here vs. saving at home after paying all your costs... try using the calculator on the main forum.
But, my sense if that it maybe a bit low.
Oct 26th 2012, 12:21 pm
#43
Joined: Jun 2008
Posts: 1,271
Re: Salary package (financial industry) good for family? Help Please!
I think most offers now with exceptions are usually similar salary to the uk but stating your advantage in income is the tax free salary when we all know that is taken up by cost of living in general plus whatever expenses still need to be sent back home plus superficial taxes. The offer itself once you have accepted you want to move is down to the individual and exactly what they want out of life and why they are considering or wanting to move, if its to save money then on your present salary in the uk and accepting the salary offered here, certainly if you will have expenses in the uk such as mortgage then you will financially be no better off
Oct 26th 2012, 1:54 pm
#44
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: Salary package (financial industry) good for family? Help Please!
Millhouse, thanks for your comment. I agree it would be difficult to return again, but if the reason you are breaking the contract is because your family hate living there, then the fact that you won't be able to return doesn't seem like a terrible consequence!
You seem to be a regular contributor to this forum and up to speed on the state of play in Dubai and Abu Dhabi, particularly with respect to working for government related entities. I would be interested to hear your thoughts about the packages being offered for finance professionals in the country.
I have been offered a deal which basically halves my current basic salary and then adds in a number of benefits (accommodation, gratuities etc etc) on top to bring the gross salary in the ballpark of what I am currently on. Does this seem like a standard offer? I was underwhelmed since I have tended to view the expat benefits as additional to a competetive base salary and not included within it - particularly because the benefits are for the family as a whole and not for me specifically, and the fact that there are not any pension schemes at any of the government companies. I am wrong?
Any thoughts much appreciated, thank you.
You seem to be a regular contributor to this forum and up to speed on the state of play in Dubai and Abu Dhabi, particularly with respect to working for government related entities. I would be interested to hear your thoughts about the packages being offered for finance professionals in the country.
I have been offered a deal which basically halves my current basic salary and then adds in a number of benefits (accommodation, gratuities etc etc) on top to bring the gross salary in the ballpark of what I am currently on. Does this seem like a standard offer? I was underwhelmed since I have tended to view the expat benefits as additional to a competetive base salary and not included within it - particularly because the benefits are for the family as a whole and not for me specifically, and the fact that there are not any pension schemes at any of the government companies. I am wrong?
Any thoughts much appreciated, thank you.
Oct 26th 2012, 1:55 pm
#45
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: Salary package (financial industry) good for family? Help Please!
remember hmrc, you have to be out of country for 1 tax year etc.
