Kuwait 3500KDN per month - worth it?
I have the below offer from a Kuwaiti bank, in Kuwait City. For comparison I’m a ‘head of’ in a UK bank on £120k. 3500 p/m 5000 annual bonus fixed ~100% annual salary discretionary bonus 3000 p/y schooling Private medical 2000 p/y flights (paid in cash) 30 days holiday end of service benefits Any thoughts on this? There is no separate amount for rent and that seems expensive, or is this doable? I have a young child and my wife would also come along, so needs to be a decent area. Currently can save ~1k a month, would we be able to save more whilst experiencing a different lifestyle for a couple of years? Or am I being optimistic. Thanks |
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Mcshane
(Post 12737318)
I have the below offer from a Kuwaiti bank, in Kuwait City. For comparison I’m a ‘head of’ in a UK bank on £120k. 3500 p/m 5000 annual bonus fixed ~100% annual salary discretionary bonus 3000 p/y schooling Private medical 2000 p/y flights (paid in cash) 30 days holiday end of service benefits Any thoughts on this? There is no separate amount for rent and that seems expensive, or is this doable? I have a young child and my wife would also come along, so needs to be a decent area. Currently can save ~1k a month, would we be able to save more whilst experiencing a different lifestyle for a couple of years? Or am I being optimistic. Thanks |
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Millhouse
(Post 12737321)
dunno about the offer, but you’re a head of department in a UK bank and only save 1k a month? Wowzers, it must be expensive in the UK these days. |
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Mcshane
(Post 12737345)
indeed, and still have to watch the £s. Mortgage is £3k a month in London, on 3-bed average house in a nice part of outer London. Rest gets eaten by transport costs 250, food 500 and nursery 900! Bonkers it is. Wife works part time and savings are mostly her income! The plus side is you’ll see your kids a lot more than you do in London. |
Re: Kuwait 3500KDN per month - worth it?
I think you'll be ok on 3500 KDs.
Per month: 600 - 1000 for a nice apartment in a European expat building. 200 for an ok hire car (until you buy) 150 - 200 groceries (my wife and I go fairly crazy in Sultan Center every week and we spend between 40-60 each week - I have the belly to prove it) 100 - 150 Nursery fees (this is second hand info, I think it's quite accurate.) 500 - Spaffing it wherever you like in Avenues Mall You'll easily be able to send 1500 KDs (approx £4K) back to the UK each month. I've been here for almost 2 years, it's not that bad once you've gotten to meet some people. Happy to field any questions... |
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Mcshane
(Post 12737318)
I have the below offer from a Kuwaiti bank, in Kuwait City. For comparison I’m a ‘head of’ in a UK bank on £120k. 3500 p/m 5000 annual bonus fixed ~100% annual salary discretionary bonus 3000 p/y schooling Private medical 2000 p/y flights (paid in cash) 30 days holiday end of service benefits Any thoughts on this? There is no separate amount for rent and that seems expensive, or is this doable? I have a young child and my wife would also come along, so needs to be a decent area. Currently can save ~1k a month, would we be able to save more whilst experiencing a different lifestyle for a couple of years? Or am I being optimistic. Thanks Gent |
Re: Kuwait 3500KDN per month - worth it?
Much appreciated for your responses. I agree, have heard the culture in their banks isn’t great and I’d be doing even longer hours than i do now! Really not worth a couple of grand more a month. Agree, I think the salary is low as looks like they simply converted my UK salary into KD. Will need to be around 4.5-5k I think to be worth my efforts. |
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Mcshane
(Post 12738222)
Much appreciated for your responses. I agree, have heard the culture in their banks isn’t great and I’d be doing even longer hours than i do now! Really not worth a couple of grand more a month. Agree, I think the salary is low as looks like they simply converted my UK salary into KD. Will need to be around 4.5-5k I think to be worth my efforts. |
Re: Kuwait 3500KDN per month - worth it?
I'd check the school fee allowance against the market as well. Nursery fees won't be the normal outgoing in the long term and sometimes schooling costs exclude nurseries in the policy documents.
|
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Mcshane
(Post 12737345)
indeed, and still have to watch the £s. Mortgage is £3k a month in London, on 3-bed average house in a nice part of outer London. Rest gets eaten by transport costs 250, food 500 and nursery 900! Bonkers it is. Wife works part time and savings are mostly her income! Buying a house and paying a mortgage elsewhere would reduce costs by 2K + minimum. I'm based in Ireland and our 2 salaries combined are nowhere near yours, but we easily manage to save more than you in the UK, so something must be wrong. |
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Moses2013
(Post 12738609)
Just seen, but to be honest you would probably save more anywhere in Europe/UK if you picked a different location. Of course you won't experience the culture you have in Kuwait, but why not pick a cheaper location?
Buying a house and paying a mortgage elsewhere would reduce costs by 2K + minimum. I'm based in Ireland and our 2 salaries combined are nowhere near yours, but we easily manage to save more than you in the UK, so something must be wrong. |
Re: Kuwait 3500KDN per month - worth it?
Originally Posted by Mcshane
(Post 12738222)
Much appreciated for your responses. I agree, have heard the culture in their banks isn’t great and I’d be doing even longer hours than i do now! Really not worth a couple of grand more a month. Agree, I think the salary is low as looks like they simply converted my UK salary into KD. Will need to be around 4.5-5k I think to be worth my efforts. |
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