Salary package (financial industry) good for family? Help Please!
#61
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!
If was on my own then it would make more sense. But because (for various reasons) my wife would not be working in AD, it doesn't. I was under the impression that the zero income tax plus expat benefits might make up for a large majority of my wife's loss of earnings but unfortunately it doesn't really come close. And I found that surprising. clearly I had too high expectations. On my own, there is an increase in my disposable income, but it ain't really anything to write home about.
50k a month minus 200k housing
34k all in incl all benefits. So basic around 24k?
Doesn't make sense to me, i'd refuse. However, the maths does seem all wrong. Have you really been offered a basic at 40% gross of your current salary?!
#62
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
Anyone have much experience with negotiating? Of course depends on case by case basis, but generally speaking is there willingness to negotiate? I am assuming there is... Or maybe just me hoping
#63
Re: Salary package (financial industry) good for family? Help Please!
I think you'd need a much better deal. If you have a job currently, why would you even consider a move for less?
#64
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!
The poster's current job is either being hugely overpaid or the company here need to seriously reevaluate how they renumerate roles and look at market average. I cannot imagine anyone taking a job at 40% market value. Surely there is something missing in this picture.
#65
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
No, nothing missing. The base is actually closer to 45% but it's still the same story. Are u saying this offer is ridiculously low even though all the benefits etc bring my equivalent salary back up to roughly where my gross salary is now? I think there are lots of reasons for saying so...for one thing I know a number of people that have managed to secure deals that left their gross salaries the same, thus allowing them to benefit significantly from the zero tax, while also receiving a few benefits on top. Now that would be attractive. But perhaps the region has chgd in the last 2-3 years... I don't know.
#66
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!
Does your gross include bonus?
#67
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
No it doesn't, it could be anywhere between 0-100 of base. But based on what previous people have said it doesn't sound like I should be relying on this to make the whole thing worth my while. This is particularly the case because I have bonus scheme here in London too... Which is calculated off of a higher base salary...
#68
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!
No it doesn't, it could be anywhere between 0-100 of base. But based on what previous people have said it doesn't sound like I should be relying on this to make the whole thing worth my while. This is particularly the case because I have bonus scheme here in London too... Which is calculated off of a higher base salary...
#69
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
If the company is genuinely only offering you 45% of your basic as your er, basic, that would be a red flag to me. Something is wrong and they have no understanding of competitive rates of pay and I'd worry if that lack of judgement went across the board. FWIW, my husband's basic was less than his basic at home (85%) but our cash effectively doubled, with the benefits and the opportunities for other income (renting out house etc).
#70
Re: Salary package (financial industry) good for family? Help Please!
Hey Angela2012,
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?
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?
#74
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!
ok, smart arse. Im simply asking whether there are any differences between institutions in this part of the world in terms of how they negotiate. Is it expected, is it normal, would they take offence at aggressive counter-offers. Not unreasonable to ask, is it, particularly when there are clever people like you around...
#75
Just Joined
Joined: Oct 2012
Posts: 15
Re: Salary package (financial industry) good for family? Help Please!