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Post by moby on Feb 26, 2024 10:10:54 GMT
Hi All,
I am based in Australia (working in Internal Auditing) & waiting on an offer at the moment. I feel that Aramco’s formula (net pay + 40%+20%) will always end up below market avee given the impact of tax. My current pay is quite compeive per Sydney’s market but when I apply the formula and compare it to salary avee for roles relevant to my experience (and an offer received earlier from UAE) I end up feeling underpaid which doesn’t make sense.
Keen to get your thoughts on how industry avees in KSA and the GCC region compare to Aramco offers and if it all comes back to how well you negotiate.
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Post by albeertm on Feb 26, 2024 11:04:00 GMT
Hi All, I am based in Australia (working in Internal Auditing) & waiting on an offer at the moment. I feel that Aramco’s formula (net pay + 40%+20%) will always end up below market avee given the impact of tax. My current pay is quite compeive per Sydney’s market but when I apply the formula and compare it to salary avees for roles suitable to my experience (and an offer received earlier from UAE) I end up feeling underpaid which doesn’t make sense. Keen to get your thoughts on how industry avees in KSA and the GCC region compare to Aramco offers (especially first offers) and if it all comes back to how well you negotiate. I am in Australia too and will also see what will come up soon. I am also curious to know about the salary packages since I have negatively-geared Investment properties. I ended up getting very favourable tax rates. |
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Post by civilpali on Feb 26, 2024 14:17:21 GMT
Hi All, I am based in Australia (working in Internal Auditing) & waiting on an offer at the moment. I feel that Aramco’s formula (net pay + 40%+20%) will always end up below market avee given the impact of tax. My current pay is quite compeive per Sydney’s market but when I apply the formula and compare it to salary avees for roles suitable to my experience (and an offer received earlier from UAE) I end up feeling underpaid which doesn’t make sense. Keen to get your thoughts on how industry avees in KSA and the GCC region compare to Aramco offers (especially first offers) and if it all comes back to how well you negotiate. I am in Australia too and will also see what will come up soon. I am also curious to know about the salary packages since I have negatively-geared Investment properties. I ended up getting very favourable tax rates. I am from America and curious also. I seen gross and net. If net it will need to be a percentage more. |
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WA
Advanced Member
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Post by WA on Mar 10, 2024 11:30:23 GMT
I am in Australia too and will also see what will come up soon. I am also curious to know about the salary packages since I have negatively-geared Investment properties. I ended up getting very favourable tax rates. I am from America and curious also. I seen gross and net. If net it will need to be a percentage more. The base salary is somewhere between gross and net , if your salary is close to market avg. You can negotiate on that. If you are in a high tax paying country (Scotland-UK) then you can end up getting double of your net income . I know a recent hire who is getting almost 3 times the net but his salary was low. If your salary is low as compared to market avg. then the base salary can be equal to gross salary. |
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tamsin
Senior VIP Expat
Posts: 655
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Post by tamsin on Mar 10, 2024 12:12:37 GMT
I am from America and curious also. I seen gross and net. If net it will need to be a percentage more. The base salary is somewhere between gross and net , if your salary is close to market avg. You can negotiate on that. If you are in a high tax paying country (Scotland-UK) then you can end up getting double of your net income . I know a recent hire who is getting almost 3 times the net but his salary was low. If your salary is low as compared to market avg. then the base salary can be equal to gross salary. The rule of thumb is nett plus multipliers, but it’s not universal. Recently someone’s offer including multipliers was 25% lower than their current market avee nett. |
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WA
Advanced Member
Posts: 63
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Post by WA on Mar 10, 2024 17:32:19 GMT
For example if you’re on £70k you might get an offer of £100k, that will be nigh on a doubling take home given taxes.On the contrary If you’re on £200k, Aramco likely won’t offer you £250k, will be more like £150k which is still a large tax saving. Other factors at work are the grade code, your department and whether the role is due to be saudized soon. I am currently in the highest tax paying bracket in UK. In Scotland we pay more tax than the rest of the UK. It is going to increase further after 6th April. I got a decent uplift. So in net terms I’ll be getting more than double. You are right. It depends on the department and the discipline. |
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Post by albeertm on Mar 11, 2024 14:17:07 GMT
For example if you’re on £70k you might get an offer of £100k, that will be nigh on a doubling take home given taxes.On the contrary If you’re on £200k, Aramco likely won’t offer you £250k, will be more like £150k which is still a large tax saving. Other factors at work are the grade code, your department and whether the role is due to be saudized soon. I am currently in the highest tax paying bracket in UK (125k GBP plus) . In Scotland we pay more tax than the rest of the UK. It is going to increase further after 6th April. I got a decent uplift (more than 150k GBP). So in net terms I’ll be getting more than double. You are right. It depends on the department and the discipline. It is true when some countries suffered due to their weak currency for example. It will be a significant uplift hopefully. Time will tell. |
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Post by albeertm on Mar 11, 2024 14:20:23 GMT
I am currently in the highest tax paying bracket in UK (125k GBP plus) . In Scotland we pay more tax than the rest of the UK. It is going to increase further after 6th April. I got a decent uplift (more than 150k GBP). So in net terms I’ll be getting more than double. You are right. It depends on the department and the discipline. I was on north of £200k back home and was offered a similar amount to yourself, less cash but in real terms a large tax saving. I am top of the pay scale which has other issues with no raises each year (told otherwise before I joined 😠). It works for me but it’s short term. There are some expats in law, comms, PR, and parts of upstream who still get offered more. Almost all parts of the firm have KPIs to meet on lowering expat headcount, many are 100% saudized now. What if the high income person managed to mininise their income tax via trust/ company set -up and I guess Aramco would have to match that. |
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Post by aaa10 on Mar 13, 2024 5:02:19 GMT
For example if you’re on £70k you might get an offer of £100k, that will be nigh on a doubling take home given taxes.On the contrary If you’re on £200k, Aramco likely won’t offer you £250k, will be more like £150k which is still a large tax saving. Other factors at work are the grade code, your department and whether the role is due to be saudized soon. I am currently in the highest tax paying bracket in UK (125k GBP plus) . In Scotland we pay more tax than the rest of the UK. It is going to increase further after 6th April. I got a decent uplift (more than 150k GBP). So in net terms I’ll be getting more than double. You are right. It depends on the department and the discipline. Please I'm curious. What's the effect if a role will soon be saudized? Higher or lower pay? |
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Post by BlueStaff on Mar 13, 2024 5:33:00 GMT
There is a drive in kingdom for Saudi nationals to fill as many roles as possible.
Where there is a suitably qualified Saudi for the role, they will get the role. Quite simply, unless you are highly qualified, and at the top of your field there are going to be fewer roles available in the future.
It is after all the duty of a country to first and foremost look after the interests of itself and it's own people.
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Post by albeertm on Mar 14, 2024 13:22:44 GMT
There is a drive in kingdom for Saudi nationals to fill as many roles as possible. Where there is a suitably qualified Saudi for the role, they will get the role. Quite simply, unless you are highly qualified, and at the top of your field there are going to be fewer roles available in the future. It is after all the duty of a country to first and foremost look after the interests of itself and it's own people. The fact that young Saudis are being sent to Australia for their undergraduate studies isn't surprising. I've had the opportunity to meet some of them, and they seem quite promising. They're young and have open minds. |
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Post by guyver on Mar 28, 2024 3:11:14 GMT
Hi Moby,
I'm also in Australia and was recently contacted by a recruiter with some finance roles. I'm keen to hear about how you went with your role and whether you have received your offer yet?
I have read about quite a few negatives on this forum about actually working for Aramco and the only positive is the tax free salary paid in USD (if you manage to stay at Aramco for at least 2 years to be treated as a non resident for tax purposes in Australia). So keen to know what were your pros and cons list.
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Post by kyle1639 on Mar 28, 2024 8:53:18 GMT
Hi Moby,
I'm also in Australia and was recently contacted by a recruiter with some finance roles. I'm keen to hear about how you went with your role and whether you have received your offer yet?
I have read about quite a few negatives on this forum about actually working for Aramco and the only positive is the tax free salary paid in USD (if you manage to stay at Aramco for at least 2 years to be treated as a non resident for tax purposes in Australia). So keen to know what were your pros and cons list.
I've just left after two and a half years. I'm from the UK. Pros Tax free Good salary Good weather apart from summer months from July to October, humidity at 100% for weeks on end. Plenty long weekends, government vacations plus the 38 days annual vacation Repatriation vacation payment Cons Not always treated fairly by management Iqama and visa fees are expensive, especially with a larger family Vacation days are not always guaranteed when you want them, can be a battle to have vacation days approved, sometimes approval can be the day before the vacation Summer weather is unbearably hot Performance appraisal which is linked to bonus and annual salary increase is unfair towards expats. Higher ratings always generally go to Saudi nationals. This is just from my own experience. |
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