So much more than a currency
Teachers who are new to the international market are often unsure of how to evaluate international teaching employment packages.
They think because they have earned a certain amount in their old job at home, they can expect their new job to pay at least the same. While this is an obvious comparison, it is not the most accurate way to evaluate the financial differences of living and working in another country.
The main factors that affect your calculation are:
- Tax rates: Some countries take more than 50% of your income in tax, whereas some are tax-free. This makes a big difference to your wallet and is therefore very important to keep in mind.
- Employment packages: Some packages offer free housing, medical coverage, end-of-contract or gratuity bonuses, no-absence bonuses, flights, utility payments, tuition discount for children and more. Some packages offer very few benefits. You should evaluate the entire package as it applies to you.
- Cost of living: If you have to send money home for loan repayments or mortgage payments, you need to subtract that amount before you do any cost of living calculations.
A typical Middle East package:
- Tax-free salary
- Free, furnished accommodation (single or shared)
- Transport to and from school or a transport allowance
- Free annual return air ticket
- The school will obtain and pay for your visa
- Dynamic Personnel uses the service of an independent risk manager in The Netherlands.He travels to the Middle East on a regular basis and would be able to advise you best on how to invest / save your tax free earnings and what would be the best way to go about sending money back home. Contact us if you wish to have a free, no obligation consultation with him.