dimk
Senior Member
Posts: 114
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Post by dimk on Nov 3, 2014 11:44:15 GMT
o everybody,
At the end of Nov i will be in KSA. Just a quick question. I am on the global payroll, GC12,Engineer III.
1. What exactly the engineer III means? If i get a promotion, then will i become eg Engineer IV or backwards Engineer II? Does a promotion normally follows a salary increase?.
2. Will i be eligible to receive the annual bonus (not annual repat allowance) as i will be coming at the end of Nov 2014 or do i need to wait until March 2016?
3. As i will be paid in US currency, can i use both US dollars and SAR in my everyday transactions? Can i choose in which currency (Dollars,SAR or Euros) i will be paid every month?
4.Does my current european driving license needs to be translated in english and certified from the saudi embassy in my country, so i can be eligible for a saudi license one?
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Post by calvway on Nov 3, 2014 13:45:42 GMT
My husband is GC 13 engineer II... not sure what it means, but maybe it can help you ... I would guess he may be a step ahead of you. We are coming to KSA Nov 29th as well.
My understanding for bonus is that we will need to wait til next year to get it.
Sorry I cannot be more specific...maybe someone else can pitch in with more details1
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Post by bamaster on Nov 4, 2014 10:02:05 GMT
It counts down. An Engineer I is higher than Engineer II, which is higher than an Engineer III, and so on.
Annual performance bonus (SAIP) cutoff is Oct 1. If you start after that, you will not qualify for a pro-rated bonus in 2015.
This is mostly a cash society (SAR). Most places don't take dollars, although I am told the compound commissary will accept US dollars. I use my AmEx whenever I can so that I don't have to use cash. Your direct deposit can be split into two banks. Only one bank per currency, though. So one US bank and one KSA bank.
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dimk
Senior Member
Posts: 114
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Post by dimk on Nov 4, 2014 10:57:22 GMT
bamaster, Regarding SAIP like you said, when am i going to be qualified for the bonus? Will it be after Oct 2015? I`ve heard SAIP is paid usually on March, so based on that i could get that on March 2016? thanx again
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Post by bamaster on Nov 4, 2014 16:57:01 GMT
Your 2016 bonus will be based on 2015 earnings.
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Post by goatlast on Nov 4, 2014 17:02:20 GMT
Dimk,
You won't be qualified for the bonus that is due on March 2015 but you will get the one of March 2016
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dimk
Senior Member
Posts: 114
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Post by dimk on Nov 6, 2014 7:45:06 GMT
how much is normally the saip bonus you get? is it nearly a one month base salary or even more?
also can you suggest me some good and reputable saudi banks when the time comes to open a bank account? Does Aramco suggest to employees saudi banks as well?
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Post by bamaster on Nov 7, 2014 13:38:23 GMT
If you are eligible for SAIP, the potential amount is stated in your written offer. For me, it was 160% of one month base salary.
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Post by vpainter on Nov 7, 2014 21:34:54 GMT
We use NCB bank in DHA. Aramcons use all the banks on the compounds and some in the local area.
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dimk
Senior Member
Posts: 114
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Post by dimk on Nov 7, 2014 21:50:06 GMT
bamaster,
I'm on the global payroll, so will I be eligible for saip??
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Post by bamaster on Nov 8, 2014 8:14:10 GMT
I don't think it is that simple. What does your offer letter say? These really are questions you should be asking your recruiter or relocation advisor.
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dimk
Senior Member
Posts: 114
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Post by dimk on Nov 8, 2014 13:56:55 GMT
bamaster, i`m european , GC12, Engineer III, if that helps  |
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Post by meltbaby on Nov 12, 2014 15:54:57 GMT
Hi Dimk,
The saip % (I think is the max) you may be enled to should be shown on the net earnings worksheet Aramco sent across with your offer pack. Bonus computation are based on 2 elements, individual and company performance.
Customarily companies have a cut-off period on when employees are eligible to participate in the bonus scheme. So for folks like us (start date after 10/01/14) we will be eligible for the 2015 bonus scheme, to be paid in 2016.
Hopefully the information is helpful.
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dimk
Senior Member
Posts: 114
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Post by dimk on Nov 13, 2014 9:28:03 GMT
meltbaby and dimk,
Hi
i will land in KSA 27th of Nov 2014 and that date will be my first working day as the contract states. So based on what you said, i would be also paid in 2016, right? In what month the bonus is normally given to the employees?
thank you
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Post by meltbaby on Nov 13, 2014 14:48:10 GMT
Hi Dimk
Below full text on the saip extracted from Aramco website
"Saudi Aramco Incentive Plan (SAIP): This is a broad-based annual and performance based incentive plan. However, your actual bonus will be calculated based on company and individual performance, base salary, and length of service during the plan year. The objective of this plan is to drive organizational performance, as well as, recognize and reward your contributions beyond the normal annual merit increases."
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