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Kuwait 3500KDN per month - worth it?

Kuwait 3500KDN per month - worth it?

Old Sep 19th 2019, 3:25 pm
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Default 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



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Old Sep 19th 2019, 3:33 pm
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Mcshane View Post
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



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.
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Old Sep 19th 2019, 4:25 pm
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Millhouse View Post


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.
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!
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Old Sep 19th 2019, 5:44 pm
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Mcshane View Post


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!
My guess is you’d save more in Kuwait but that’s because there is literally **** all to spend the money on. Remember it’s just been ranked worst expat destination globally.

The plus side is you’ll see your kids a lot more than you do in London.
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Old Sep 20th 2019, 6:43 am
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Default 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...
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Old Sep 22nd 2019, 6:16 am
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Mcshane View Post
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



I assume this is a retail bank - seems a tad on the low side - especially if they have excluded the rent (and gave you a "fixed bonus") - The bonus wont cover your rent (i'd imagine looking for 750-1000Kd for rent). The work environment for a retail from hearing other peoples stories are a ball-ache to put it nicely. Im sure you would be able to save more than 1kGBP (probably around 3kGBP) if you could stand the culture shock.

Gent

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Old Sep 22nd 2019, 9:34 am
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Default 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.

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Old Sep 22nd 2019, 9:52 am
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Mcshane View Post
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.

Theres no reason to come unless the salary is a lot more or the hours a lot less.
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Old Sep 23rd 2019, 9:30 am
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Default 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.
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Old Sep 23rd 2019, 12:00 pm
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Mcshane View Post


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!
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.

Last edited by Moses2013; Sep 23rd 2019 at 1:25 pm.
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Old Sep 23rd 2019, 1:37 pm
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Moses2013 View Post
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.
Agreed, we live within an easy commute of London and our mortgage is considerably less than the OP's (and much bigger house). If I were the OP I'd just move further out of London, they could get a 3 bed for a heck of a lot less elsewhere.
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Old Sep 26th 2019, 10:05 am
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Default Re: Kuwait 3500KDN per month - worth it?

Originally Posted by Mcshane View Post
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.

Couple of grand more a month - so, 24,000 nett a year. That's 20% uplift on your current, nett. You'd have to earn £164,339.69 to get an extra 2k a month on what you earn in the UK. Kuwait might be a dump in parts but don't sniff at a couple of grand more a month, I bet your current company won't give you a 45k pay rise.
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