HB89

Hi,

I've been offered a Head of' role by Tawuniyain Riyadh for £158k (includes base, accommodation and travel). I will be moving over with my wife and child (20 months) and I want to plan my spend as best possible so as to maximise enjoying the new adventure but also maximising my money.

I want to live in a really nice western compound, afford a decent safe car, save for holidays, able to help family in the UK and save for future financial security. I am not fussed about wearing/owning bling or eating out all the time. We enjoy cooking.

In addition to the above the company are offering:
- Tuition for up to 3 children
- 1 x Family Return Ticket UK-KSA
- Insurance discounts
- Bonus of up to £35k.

Is the offer reasonable for the industry and role? Anyone know what it's like to work there? Is it enough to live the above lifestyle requirements?

With regards to maximising wealth; I want to make my money grow/work. How best do you suggest I do this? I have seen SAAB Premier Accounts and Wealth management. Any contact/links for financial advice?

Many thanks
HB89

nonthaburi

Just on the numbers, that's about 13k gbp a month, or around 65k SAR.
Accommodation may set you back 20-30k for a 3 bedroom villa depending on what you call nice. Call it 25 and you're left with 40.
Living cost maybe another 10 k and you're left with 30.
Minus the car. I'd suggest just renting something the first six months. You might hate the role or the place.
In fac , I'd suggest coming out on your own first for six months. Get yourself sorted, decide if you like it, then start building the nest.

Of course there's loads of room to play with on the figures. 2 bedroom apartment rather than a villa etc etc. Only you know what your saving target is , and whether it's worth it.

nonthaburi

Oh yeah , personally I'd stay away from SABB. Found them terrible in the past.

HB89

Saving 30k SAR is a good amount by expat standards or am I wasting an opportunity?

From accommodation my wife and I like Al Nakhla. Seems on paper a good compound, agree? Are there similar ones?

HB89

Who do you suggest? I've banked with Barclays but they don't seem to have a presence there. HSBC and SABB are linked so i've opened a HSBC Advanced account here in the UK and will start using them more. Aim is to have an existing relationship prior to moving. If they are no good who do recommend? Whomever I go with I will choose the premier service.

Trailing_Hubby

We are in a similar boat and should be out in a couple of months. We'll be in Al Nakhla to start with, and it does look nice. Al Bustan was the other one I saw that was along the same kind of lines.

omega7

Well to be able to offer more insight, one would need to compare it with how much 1) you make now and 2) how much of that you save now?

HB89

Compared to what I am on now it's a huge pay rise and in terms of savings, consider current savings non-existent. Compared to my current situation it's a great position to be in. My question is by rule of thumb am I saving what you would expect an expat in my position to be saving, am I wasting an opportunity to save more, or comparatively it's a reasonable amount?

HB89

Late-July/August is when I am expecting to fly out. Hopefully see you out there.

Trailing_Hubby

In terms of saving, I guess it's all about balance and it's probably no good comparing with other people. There'll be those who are out there to save every penny and don't go out anywhere, and others who will be flying off somewhere every weekend making the most of the salary. £30k SAR is a decent chunk a month to be saving I would say.

wonderer123

Good luck with the move, we are in a similar situation, though no guarantee that international flights will open up by July/August.

Trailing_Hubby

If we don't get a commercial flight there'll be a chartered one as I understand it.

HB89

Out of interest have you got your via yet? I have submitted my Fit and Proper from to the company who have signed their bit and submitted to SAMA. It's been well over two weeks we've heard nothing back and the recruiter now thinks we should be considering Sep20 as a more realistic start date especially since we then need to apply for the Visa application after this step.

Would just love a date to work towards. The wait is bad, the not knowing is the worst.

Trailing_Hubby

It's the wife's job, but not yet I think. Although they did want her to fly out last week, so it might all be fine.

HB89

So she has her Visa? Do you mind telling me what field she is working in? My wife is looking to work once we are out there (to maintain her own career and manage boredom). Just curious to know what other fields/industries expats work in (aside from teaching and oil/engineering).