Will I be earning enough?
Apr 11th 2014, 9:56 am
#61
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Thread Starter
Joined: Apr 2014
Posts: 50
Re: Will I be earning enough?
You probably realise that in the US, realtors generally take 6% of the sale price as commission (so, $12,000 on a $200,000 house), but I thought I'd mention it, just in case. If your rental cost will be about $12,000 anyway, it might be worth buying, but be careful about buying before you are sure you are settled. I'd recommend renting for at least 6 months or a year.
(And before anyone dives in and points out, "But the seller pays the commission", it's still a cost, when you come to sell).
(And before anyone dives in and points out, "But the seller pays the commission", it's still a cost, when you come to sell).
If we stay it will be green card applications and hopefully house buying unless we lack the credit status required to buy a house.
Apr 11th 2014, 3:23 pm
#62
Lost in BE Cyberspace
Joined: Jun 2008
Location: San Francisco Bay Area
Posts: 10,678
Re: Will I be earning enough?
Any legal resident (L-1, H-1B, J-1, F-1, etc.) that does not have employer provided health insurance qualifies for the subsidy but not free Medicaid. You are not required to be a USC or a legal permanent resident.
Apr 11th 2014, 4:08 pm
#63
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Thread Starter
Joined: Apr 2014
Posts: 50
Re: Will I be earning enough?
It does worry me that I just watched a Tony robbins motivational video where he talked about earning just $38k per year lol. I guess that was California though!
Apr 11th 2014, 5:49 pm
#65
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Joined: Jul 2012
Posts: 84
Re: Will I be earning enough?
Hey, thought Id chip in here as I am your age and live in Chicago. I agree with what others have said r.e. Chicago being more affordable in a relative sense, but its not really "cheap". My wife and I are in a comfortable position finacially but I dont really feel as though were that well off here (although I guess Id be classed as so).
If you are going to do it I'd suggesting checking out the city data forum for ideas on which neighbourhoods to look in - people there seem pretty helpful and may be able to give you some better ideas of how far your salary will go
http://www.city-data.com/forum/chicago/
If you are going to do it I'd suggesting checking out the city data forum for ideas on which neighbourhoods to look in - people there seem pretty helpful and may be able to give you some better ideas of how far your salary will go
http://www.city-data.com/forum/chicago/
Apr 13th 2014, 5:27 pm
#67
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Joined: Sep 2013
Location: Valencia, CA
Posts: 60
Re: Will I be earning enough?
Hi Expats and sorry for the long post!
I work for an elearning company here in the UK and will be moving to Chicago in less than month on an L1 (L2 for my wife) visa.
We are a small company and so I have been offered what I think is a reasonable package for the time being but want to get views on this.
I am 28 years old, renting with my wife in Oxford and earn £25k currently. We have around £18k savings ready for a house and my company suggested a move to USA as we do a decent amount of business out there. I have worked for them for 2 years.
I have a degree and was a web developer/elearning developer but have transcended into a kind of sales role. Small company means I do a lot of different things!
They have basically offered me:
- $40k basic salary
- $5k for business costs (laptop phone etc). includes money towards our sister companies office where I will be working from.
- $5k health insurance
- $5k housing contribution
- $5k travel costs
- extra commission based on revenue
My wife will be working too but has no job confirmed just yet.
So after looking at another thread on this site that seems low although they were discussing California which I know is pricey.
When I did my research before we could get a nice apartment for $1,500 per month which is only slightly more than we pay for a 1 bed in Oxford. The health insurance looked like roughly $400 for basic cover so maybe I am missing a reason we need to be earning more?
We plan to view how the business is going after a year which is when I can ask for more money.
My thoughts are that we are sacrificing time (through hard work!) and money for a future in a country we both love. Short term sacrifice for long term gain?!
I work for an elearning company here in the UK and will be moving to Chicago in less than month on an L1 (L2 for my wife) visa.
We are a small company and so I have been offered what I think is a reasonable package for the time being but want to get views on this.
I am 28 years old, renting with my wife in Oxford and earn £25k currently. We have around £18k savings ready for a house and my company suggested a move to USA as we do a decent amount of business out there. I have worked for them for 2 years.
I have a degree and was a web developer/elearning developer but have transcended into a kind of sales role. Small company means I do a lot of different things!
They have basically offered me:
- $40k basic salary
- $5k for business costs (laptop phone etc). includes money towards our sister companies office where I will be working from.
- $5k health insurance
- $5k housing contribution
- $5k travel costs
- extra commission based on revenue
My wife will be working too but has no job confirmed just yet.
So after looking at another thread on this site that seems low although they were discussing California which I know is pricey.
When I did my research before we could get a nice apartment for $1,500 per month which is only slightly more than we pay for a 1 bed in Oxford. The health insurance looked like roughly $400 for basic cover so maybe I am missing a reason we need to be earning more?
We plan to view how the business is going after a year which is when I can ask for more money.
My thoughts are that we are sacrificing time (through hard work!) and money for a future in a country we both love. Short term sacrifice for long term gain?!
However, I completely agree with your comment - short term sacrifice for long term gain!. That is only if your company is reliable and you are certain you will be able to progress further in your career.
Good luck!
Apr 14th 2014, 5:40 am
#68
BE Enthusiast
Joined: Mar 2014
Posts: 429
Re: Will I be earning enough?
Hey, thought Id chip in here as I am your age and live in Chicago. I agree with what others have said r.e. Chicago being more affordable in a relative sense, but its not really "cheap". My wife and I are in a comfortable position finacially but I dont really feel as though were that well off here (although I guess Id be classed as so).
If you are going to do it I'd suggesting checking out the city data forum for ideas on which neighbourhoods to look in - people there seem pretty helpful and may be able to give you some better ideas of how far your salary will go
http://www.city-data.com/forum/chicago/
If you are going to do it I'd suggesting checking out the city data forum for ideas on which neighbourhoods to look in - people there seem pretty helpful and may be able to give you some better ideas of how far your salary will go
http://www.city-data.com/forum/chicago/
This is a map of the different neighborhoods. Of course where you move is where you work but generally speaking Chicago is two cities between the North and South sides, I'd stick to the North side (if possible). Check out this map and also the hotlinks to the neighborhoods. Bucktown for instance shows apartments for $600. Not bad as this would be a nice neighborhood for a young couple, close to downtown and transportation off the Blue Line "EL".
