3,500 KWD per month - thoughts?

I have an offer from a bank, I have 15 years experience in my area as a specialist. Have wife and toddler.

3500 per month
3000 per year (nursery/schooling)
Private healthcare
2000 cash allowance (flights) per year
5000 fixed bonus per year
-100% discretionary bonus.

On the face of it looks reasonable. I won’t be skimping on a nice place to rent, and so realistically how much could be saved?

Thanks,
Bob

To get the right answer you need to compare your current income and life style with the offer. You didn't mentioned anything about your current situation. If I gave you my opinion based on your offer then my answer will depends on my current situation compared with your offer.

Of course, as a comparison I’m currnetly on £120k in London working in a bank here, after tax that’s about £6k a month.  My mortgage eats up 2.5k, we save around 1k a month, and live comfortably though do have to watch the spending.

You will be fine. If you are not into extravagant lifestyle (but don't want to compromise on the accommodation) you should be able to save at least 1000 KWD a month.

Based on your current income , You will save more here easily.

Hi..technically your salary would be KWD 3900 if i add your fixed bonus. If you want a decent apartment for 3 you should get a good decent furnished 2 bed apartment between 450-600. Full time housemaid if you hire one 150. Groceries 250 depending on your spending. Car lease 200. Fuel Max 60. Schooling, medical is already covered. Water & Electricity is included in most apartments and even if u need to pay it would be negligible. I will still add misc 500 for clothing and any other expense.

So the math goes this way = KD 3900 - ( 600+150+250+200+60+500 ) = KD 2140

You will save anywhere between KD 2000 - KD 2500. Cheers.

Well it's all relative mate.

Let's give you a hypothetical situation of the silent majority here in Kuwait:

I work in a Fast Food/Catering/Hosptiality company - no names mentioned, remember,  this could be all made up and a fairy tale, but you decide.

Average Salary is 90kd a month (and I am one of the lucky ones)
I work 10 hour shifts, 6 days a week
I have been made to work overtime, sometimes without pay.
I am picked up by the company bus, which sometimes is late - and if it comes late, I get punished and even had my pay deducted
I am only given 1 uniform that i have to wash and wear daily
Back staff should be 4, but only 1 is available on a daily basis, including weekends
I get a plane ticket once every two years, and it takes them 6 months for them to approve it after lots of drama - if I request January, they will give me March or April, when my residency is about to expire. If I come back when my medical has expired, I am made to stay in my apartment for 4 or 5 weeks without pay. I need to do my medical on a yearly basis.
We are 4 in a room, 10 or 12  in one apartment
I spend about 50kd a month on expenses, food bills, bus when I need it. I can't afford any medical, even a taxi to a clinic if I am sick and can't travel by bus.
I send the rest to my wife/family to have a 'decent' living in my country.

So, keeping in mind this totally ficticious and hypotethical situation above, I guess you can be able to save quite a bit.

Absolutely TRUE

Alas, I turned down the offer, having now been to Kuwait to see the place in person made me realise the costs would be higher than anticipated in the housing side. Also would need a decent car (again not skimping) and that isn’t cheap.

The absolute dealbreaker is though the working hours, 7am to 6pm.... with half hour lunch.  I’ve done long hours in London, but I got the vibe from the firm that people were being worked into the ground and it didn’t sit well with me. I also thought the role would probably piss me off after not to long as the senior management seemed arrogant and out of touch, although very charming all the same.

If the hours and working conditions are factored in, then this the salary isn’t that great at all, plus I’d never see the kids outside weekends...

For accommodation, yes there are places for 400-600 a month, but why would we choose to live somewhere not as nice as current standards in the UK?   We’re professional people and worked for decades to have good standards, it’s a false economy to scrimp on these things when one is fortunate enough to have the choice.

I do though see how It could work for a few years for someone without kids who wants to save a bit, or with older children, who’ve flown the nest.   It’s just not one for us.

I think you made the right choice, sounds like a miserable place.

And excellent description of the senior management, this almost applies universally here.

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