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Post by sbenni1 on Oct 5, 2017 15:44:33 GMT
Have you done your research on this company? Stock purchase? What stock purchase? There is no stock, the company is a national company.
How much of the $200K ends up in your checking account? Let's do some simple math.
50%-55% goes to federal, social, medicare, state, city, sales tax, real estate and the list goes on.......
100K left. Being generous here.
Mortgage: 3K avee.
64K left.
Gas, car insurance, house insurance, groceries, private schools..........
Before you know it, you are left with 30K at the end of the year, if not less.
Now, let's take the $134K (not sure if this is base or including the expat premium):
You can literally live off the yearly bonus and the repat money if you want to. That would leave your entire $134K intact. You just saved FIVE (5) times what you would have saved in the US.
Add to this: The best 401K and pension plans on the planet. Name one company that gives you dollar for dollar up to 9%. 99% of US companies can't spell Pension anymore. This one here is fat with lard.
I'm not saying the offer is good, what I'm saying is that you seem to miss the whole point. You could make a million dollars, it's all monopoly money. What matters is what ends up in your pocket, not what you see at the top of the paystub.
Quick formula for you: Every year a person spends in Aramco equates to 3 years in the US. 10 years is 30. 10-15 years and you can retire comfortably. Try doing that in DC or anywhere for that matter.
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Post by sbenni1 on Oct 5, 2017 16:01:59 GMT
One more thing, 60 days of vacation/holidays (calendar days) ain't too shabby either. People is most companies start with 3 weeks and after they work you to death, it goes up to 4 weeks.
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Post by daoilman on Oct 5, 2017 16:54:42 GMT
The tax burden on your example is a bit high and at $134k a US expat will have to pay taxes on roughly $30k of the salary but you do make a compelling point. Thanks for sharing that.
I have never heard the 1 year Aramco - 3 years US comparison. Where did you get that from?
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Post by dupont on Oct 5, 2017 17:12:07 GMT
Well the IPO is expected to come next year. Based what I was told from the recruiter, employees will not be given an option to purchase stock, including the executives. That's the point I was making regarding that.
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Post by sbenni1 on Oct 7, 2017 12:16:27 GMT
I agree with you daoilman, the 30K is taxable, but it's not much considering you save tons of money since there are no shopping temptations or alcohol or anything you can splurge on. The poster did not mention if he was single or a family man. A family man (4/5 people) gets the equivalent of a little salary in the US for his repat only. Avee US household has two cars. The gas alone is $400 a month, that's 5000-6000 a year. Here, a family gets by with only one car and with the gas prices prices, that 6000 is looking more like 1000-2000. It's the little things that add up. I was aveing $300 a month is utilities alone, that's $3600. This is free here. The list goes on and on. All these little things add up and now they end up in your checking.
The one to three is my own math, please refer to my example above. If you see the example above, one could argue it is more than one to three.
A lot of people focus on making salary comparisons instead of package comparisons or take-home comparisons and that's why things don't make much sense to them, even though they know that whatever they make in the US is just paper money: by the time the government gets done with you, you are left with less than half your salary. By the time Sallie Mae is done with you, you start getting nervous. By the time private schools are done with you, you start thinking of freelancing on the weekends.
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Post by daoilman on Oct 8, 2017 14:49:02 GMT
sbenni1,
HAAAA!! I just sent off my monthly $1k check for private school so you are very much correct. It is the little things over here that add up super quick. Between groceries, eating out, Starbucks, etc., it does add up. Thanks for the different point of view.
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Post by vpainter on Oct 23, 2017 20:57:37 GMT
Patience and more patience is required to come to work for Aramco. If you are coming from the U.S. or elsewhere and are expecting Aramco to be like other companies you have worked for. You would be placing unrealistic expectations on the company as well as the ASC office.
The hiring process for coming to Aramco is slow at best and depending on the department, the employees on long vacations, KSA government red tape, the time differences, the different work week days, etc. the hiring process can normally take up to and over a year. Any where along that timeline is normal for this company.
If you are unable to have patience in the hiring process, you probably will not do well working here. Patience is required even once here, it is a different culture and not like where you are coming from. If your expectation is it will be like where you are now, do not come, you won’t be happy here. If you are up for new and different experiences and have the patience to get through the hiring process, you will more than likely enjoy being here.
There are good days and bad days working here, just like there are good and bad days at any other company.
Getting through the hiring process is just the beginning. Hopefully it weeds out those who won’t be happy here before they get here.
You can do a search on “timeline” and see how long each stage of the hiring process has taken for others. Some are faster than others, some are slower than slow. All are normal.
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Post by louis88 on Nov 17, 2017 4:00:11 GMT
Visa approved, all contingencies cleared. Man has this been a lengthy process from start to finish. Im set to arrive sometime early January!
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Post by Countryoilman on Dec 9, 2017 15:27:50 GMT
Still waiting on being offered or declined. So there’s still hope, that my wife and I will get to experience Saudi Arabia. The magnitude of the offer package is not my biggest concern, I want the work experience more so than anything. I’m hoping We’ll be apart of the group of expats entering in 2018. It’s been a long time coming.
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Post by Countryoilman on Jan 31, 2018 5:11:40 GMT
Well.... I was informed yesterday that I have been placed on hold. Well I guess it is what it is. Maybe one day I’ll make it to Saudi.
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Post by Mister on Jul 10, 2018 5:46:15 GMT
Hi All,
I'm new to the forum and so far maanged to go through some interesting and useful posts.
I was intervewed in March and few days back got an offer. First impression is so many terminologies to didgest. They offered grade is 13, is it normal or low? The offered salary is less than current earning. Can I negotiate?
As/if I understood correctly the payment consist of:
1.base salary
2.annual incentive payment
3.annual repartiation allowance.
The offer says that I'll have to arrange my own accomodation in Dhahran and Schools for kids (both reimbursable payment from Aramco up to 2-3 base salary). However I hoped that they'll accomodate me and family in Aramco Compund, so kids will attend Aramco shools. Is this somthing that I can challenge back the recruiter?
Is this all or they missined something?
Also what would be price for:
1. avee house/flat rent?
2. International schools payment for kids?
Any kind of advise woud be usfule.
Thank you.
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Post by StarboyX on Jul 10, 2018 17:03:49 GMT
I've never heard of an offer with a salary lower than what you're currently earning.
GC 13 seems to be the norm these days, and each grade has 4 classes, meant for merit increases, promotion, and yes, negotiation.
However, the salary is lower than what you're currently earning, so what incentive do you have coming over then?
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Post by Mister on Jul 11, 2018 3:25:57 GMT
I've never heard of an offer with a salary lower than what you're currently earning. GC 13 seems to be the norm these days, and each grade has 4 classes, meant for merit increases, promotion, and yes, negotiation. However, the salary is lower than what you're currently earning, so what incentive do you have coming over then? Thank you for your response. Going through posts I assume you're most active participant on this forum. I've never heard of an offer with a salary lower than what you're currently earning. I think they haven't looked at my 3 motnhs pay slip, which was requested before interview...GC 13 seems to be the norm these days, and each grade has 4 classes, meant for merit increases, promotion, and yes, negotiation. Could be mine is lowest class within GC 13 then?!However, the salary is lower than what you're currently earning, so what incentive do you have coming over then? They have good package (i.e. kids education, EAP, pension, housing etc..). However main incentive is of course salary. So I gonna make conteroffer, will see what happens. |
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Post by smshah on Aug 8, 2018 5:48:50 GMT
Hi countryoil,an,
I was also recommended for job offer and they said my status is on hold. it’s been over an year and no response. Every time I call the recruiter she says it’s on hold. any update on your side?
thanks.
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Post by Countryoilman on Aug 21, 2018 4:40:31 GMT
Hi countryoil,an, I was also recommended for job offer and they said my status is on hold. it’s been over an year and no response. Every time I call the recruiter she says it’s on hold. any update on your side? thanks. Well.... My original recruiter has retired. The recruiter I’m dealing with now, tells me the req I was under has been closed. I was the second candidate for the position. So, I’m taking it as I’m not going to Saudi. So with all of that being said. I can’t get a job in the patch here in the states, time isn’t standing still, so I’m gonna move on to something else. What? I’m not quite sure, but I still have a lot of life left in me, I wanted to share my passion and talent with Aramco, but it’s not meant to be. On to the next career. The patch was good to me and mine, farewell. |
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