If you're considering making an international relocation, one of the challenges is figuring out what you're worth in the market you're moving to. Here are some tips from James and Asha to prepare for your relocation!
Transcript:
James Parker: If you're considering an international move, one of the challenges is figuring out what you're worth in the market you're moving to. So Asha and I thought we'd offer a few tips.
Asha Turner Joesphs: You should expect to be paid fairly based on your experience relative to the local market. Don't assume your current salary will translate directly into local currency.
James: overly generous expatriate packages for external hires are kind of a thing of the past, so expect to be on a local employment contract.
Asha: In some parts of the world, annual bonuses and long-term incentives are very prevalent; in others they are not. For example, the Middle East.
James: Figuring out your net salary is not an easy task. You might want to get an accountant to help understand what your tax liabilities will be in the country of choice.
Asha: Most companies will offer a comprehensive relocation package. However, it may not cover everything. For example, the cost of selling a house.
James: be careful of using the cost comparison websites. They offer some very valuable information, however, you need to figure out what the cost of your lifestyle is going to be.
Asha: Corporate title are not uniform across the globe. Therefore, it's advised that you stud the organizational structure.
James: So in summary, the most valuable tip we can offer anyone considering an international move is - don't make is based on compensation alone. We hope this has been useful. Let us know in the comments.