Hello and thank you for reading my post!
I have been offered a transfer from my NYC job to our London office this April. I have many concerns that the package being put on the table is far from being in line with my current cost-of-living.
I have a comfortable lifestyle in NYC and am afraid that this London package will present a major change for me - not in a good way.
I am single and have no kids.
My current NYC salary is as follows:
Base Salary: $80K USD
Bonus: $55K USD (guaranteed)
Total: $135K USD
My London offer is as follows:
Base Salary: L$50 GBS
Bonus: L $35K GBS (guaranteed)
Total: L $85K GBS
Some of my questions are:
- Is this enough to live on in London for a single 30-ish guy?
- Am I correct in thinking that this is a dramatic decrease from my current lifestyle in NYC?
- Should my company be offering me closer to L $135K GBS in order to be on par with my current NYC lifestyle?
- Are there tax benefits for expats?
Thank you very much. My company is in a strong financial state and I feel a little insulted by this offer. The powers that be are telling me that my decision should not be based solely on money, but isn't money the reason why we work? I expected a cut in pay - somewhere around 10% after the exchange rate - but not 33%. This bulletin board has been very helpful so far.
- JAR
I have been offered a transfer from my NYC job to our London office this April. I have many concerns that the package being put on the table is far from being in line with my current cost-of-living.
I have a comfortable lifestyle in NYC and am afraid that this London package will present a major change for me - not in a good way.
I am single and have no kids.
My current NYC salary is as follows:
Base Salary: $80K USD
Bonus: $55K USD (guaranteed)
Total: $135K USD
My London offer is as follows:
Base Salary: L$50 GBS
Bonus: L $35K GBS (guaranteed)
Total: L $85K GBS
Some of my questions are:
- Is this enough to live on in London for a single 30-ish guy?
- Am I correct in thinking that this is a dramatic decrease from my current lifestyle in NYC?
- Should my company be offering me closer to L $135K GBS in order to be on par with my current NYC lifestyle?
- Are there tax benefits for expats?
Thank you very much. My company is in a strong financial state and I feel a little insulted by this offer. The powers that be are telling me that my decision should not be based solely on money, but isn't money the reason why we work? I expected a cut in pay - somewhere around 10% after the exchange rate - but not 33%. This bulletin board has been very helpful so far.
- JAR
