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Post by dupont on Jun 13, 2017 20:26:41 GMT
I am toying with the idea of accepting the job with Aramco and relocating to Saudi, if offered. I submitted an application last month, ASC called to set up the interview, which is Wed.
Now, being honest, the only way I planned to accept this job was because it was lucrative. My father worked three years and just came back. I think he was working for a joint venture and was paid about 3.5xs what he made per year in US.
I have a masters and 10 years experience. I am wondering what the salary expectations are for Americans with Aramco? It would be hard pressed for to accept a job that isn't an X multiplier of my current salary.
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cowboy
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Interviewing
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Post by cowboy on Jun 14, 2017 15:55:23 GMT
I guess it depends on the profession (geologist vs. petro engineer vs finance). You most likely will not make that much working directly for Aramco as an expat employee. 3.5 times a US base salary I've never heard of and sounds out of the normal & extreme! I do think the JV's may pay more than working directly for Aramco.
When I was there in a finance role I was paid 35 to 40 percent above what I would make in the US plus a 10 to 15 percent commodity adjustment (cost of living adjustment). The other item you have to consider is the foreign earned income tax exclusion for US individuals. You only pay federal taxes on income earned over $102K or somewhere around there. Also keep in mind that Aramco has a generous pension plan for US employees. If you don't mind me asking, what role will you be interviewing for?
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Post by vpainter on Jun 14, 2017 16:35:47 GMT
Starting salaries will be about equal to what you make in the U.S. As cowboy states the initial benefit of more take home pay is the foreign tax credit you receive. If you stay long enough, salaries do tend to increase each year so that one day you will probably be making much more than you do presently.
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Post by dupont on Jun 14, 2017 17:29:08 GMT
I am interviewing for the I am excited about the opportunity, but was more looking forward to the financial benefits. I would refuse to live in the local community and would have to be guaranteed living space on one of their compounds. I am prepared to be disappointed, but I'm told on other boards that they've worked with Aramco for many years and it's always very very lucrative for native born Americans. Anyway, any more info you can provide, the better in regards to salary. I'm going to let them make me an offer if they choose to but I do pretty well here living in DC, with low six figures. I kind of wanted pointers of what to expect and what should I ask for.
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cowboy
Member
Interviewing
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Post by cowboy on Jun 14, 2017 19:25:23 GMT
"Starting salaries will be about equal to what you make in the U.S."
No harm in interviewing and see what happens.
The old calculation use to be: your current pay stub* + expat prem (30% to 50% x current pay) + commodity adj (10% to 15% x current pay)
*They'll ask for your current pay stub if they think they may make you an offer. I assume they prob do some market comparison to a candidate's current pay to make sure they're align with market based on experience & qualifications.
Vpainter, not sure I understand the above statement? Have they done away with the expat premium? The tax savings alone wouldn't incentivize most US people to make the move. |
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Post by dupont on Jun 14, 2017 20:12:36 GMT
Well that's interesting. I don't know how they would pull higher educated expats from the US under that formula. With the basic foreign allowance of no tax up to 102, that's not incentivizing if you're still paying taxes on whatever salary you have left if it's a minor adjustment.
Like I said, I'm hopeful but it sounds like the people making big money are working for Contractors out there.
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cowboy
Member
Interviewing
Posts: 31
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Post by cowboy on Jun 14, 2017 20:37:58 GMT
If you were thinking you were going to double or triple your salary - that's not the case. Even when oil was at $80 to $100 US expats were not taking that big of jump in base pay vs. US. I went when oil was around $80.
The pension is good but have to stay at least five years or more to make worth your while. Vpainter is right about the annual salary increases - they were generous when I was there. Not sure if quite as good now with the depressed oil prices but maybe? The other financial benefit at least for us was the living cost savings. No mortgage (assuming you don't keep house in US), utilities, or other living costs we incur here in US. Our living costs there about half of what is here in the US. If you live on the Aramco compound they take small amount out of paycheck for housing.
We also went for the unique lifestyle, travel benefits, and more family time. |
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Post by dupont on Aug 8, 2017 18:46:22 GMT
It took about two months to sort through the process. Interesting, I actually had the people from Saudi reach out to me directly. There were some issues with Aramco Services here in Houston. Anyway, I went through the interview after the first two times they stood me up. Two weeks later, I get a notification email that I've been offered the job. Currently pending my job offer. They made reference to this: "A key benefit of working for Saudi Aramco is the opportunity to build your personal wealth." They know it will take top money to pull expats in technical disciplines with advanced higher education. If not, I'll move on. Saudi Arabia culture vs. the US is polar opposites and I believe they recognize that. I am pending the offer, but it needs to be lucrative. Its' been about two-three weeks since my interview.
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Post by vpainter on Aug 21, 2017 7:37:31 GMT
Cowboy, I did not address anything other than the salary, not expat premium that is an addon.
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