12K in KL. Need your advice

Hi flykl,

can you be a little bit more specific on what information you feel is lacking from the other threads on this topic?

Tax is only 26% for first 6 months, after that you get much lower tax. So around 8.8K for first 6 months and after that 10K+. If you contribute to EPF then of course your nett will be lower, EPF money can be withdrawn as a lump sum when you move out from Malaysia.

Thanks farm for the reply.
I'll not be contributing to EPF. I'm still exploring KL life stlye and other stuff and indeed do not have anything specific in mind as yet. Intent here was to get an idea from the experts here on how much will I be able to save. I'm sure will have specific questions shortly, still in a phase where exploring myself over various forums and through other related links over web.

Thanks.

Easy to spend 10k if you life travel! A car is essential public transport is terrible.

If accomodation is paid for and you don't have a high end lifestyle you could save 2-3k a month and travel as long as budget travel. If 5 star hotels etc then spend all! It really is rather dependent on you.

Thanks Nemodot!
I'm mostly on budget travel and since will be with loads of work, I dont think will get much time to make long trips hence would be making some short trips around to know more about the country (anticipating once in month).

hi,
where can i get official information about the 6 months thing?
thanks
Ottaivo

Hi,I am from India

1) I have got an offer of total 16,000 MYR ( including housing)- no car allowance....wanted to understand from the forum members that is the salary good for a middle management position in Corporate Finance in KL or I am being valued less? I have 6 years exp in M&A and investment banking.

I am married- my wife is a home maker and child is 3 months old- would prefer a 2 bedroom condo in Mt.Kiara and will require a car to travel.

2) Child education is atleast 2-3 years away  but should I negotiate any education allowance with them?

3) I am being offered a 2 year contract role as an expat and after that be considered for a permanent role- is it a norm for expats ( contract)?- please suggest

4) How much does it cost to hire a car for a year?


Please reply urgently as I need to have some figures to negotiate next week.

regards

Hi,

Since you're trying to live a simple life in KL, provided company  take care of most of your burdens, i would say you perhaps able to save 70% of your salary but its all depends on your life style:)... be good and be positive so you can survive longer... good luck!!

good package for 6yrs of experience. u r not being undervalued at all. but do try to negotiate an education allowance as international schooling is expensive here.

Thanks for the info. Would be helpful if you could also advice me on the following:

1) My child is 3 months old- any schooling would happen only after 2-3 years....is it reasonable to negotaite his schooling expenses now or ask for a higher salary instead?

2) Studied that inflation in Malaysia is quite low ( compared to India)....how is the increment in the salary per year...any rough idea ( In India...the increment per annum is 6%-10%) ?

3) How much allowance should I ask for car?

regards
rohit

ibankerr wrote:

Thanks for the info. Would be helpful if you could also advice me on the following:

1) My child is 3 months old- any schooling would happen only after 2-3 years....is it reasonable to negotaite his schooling expenses now or ask for a higher salary instead?

2) Studied that inflation in Malaysia is quite low ( compared to India)....how is the increment in the salary per year...any rough idea ( In India...the increment per annum is 6%-10%) ?

3) How much allowance should I ask for car?

regards
rohit

Hii request for assistance for the above please

regards

1. your kid is still young. try to negotiate keeping in mind the future. also kids start grade 1 when they are 6 yrs.

2. it is typically 2-4% in my opinion but others can comment.

3. 1.5-2k

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Hi everyone

Is it possible to negoatite a lower rent/month for a higher security deposit in KL?

Kindly advice

regards

yes, u can negotiate rent.

I would not advise negotiating a higher security deposit in Malaysia.  It is 2.5 x monthly rent already - plus you pay the 1st month's rent in advance. Remember to read rental agreement carefully as many people get caught out thinking they can give notice and leave any time they want. This is usually not the case and the agreements can lock you into paying rent for 1-3 years.  If you leave, you still owe that money as you made that commitment.  A clause stating notice periods from each party should be included.

Gravitas..!

Beware also of being lured into paying just that little bit more in rent.  9 times out of 10 monthly rental payments somehow become "larger" when you have to pay them regularly.  Be realistic about what you can comfortably afford.