AU
Expat packages old hat
6 November 2007
It’s hot, summer’s come early and more people want to work in Australia than ever. Can they negotiate an expat payout? Probably not.
The glory days of houses, cars, maids, gardeners and school fees are long gone, says Oliver Darkes of recruitment firm Carmichael Fisher: “There are no more all-encompassing deals.”
Andrew Wood from Derwent Executive confirms this sorry state of affairs: “I haven’t recently seen an all-inclusive expat package offered for either front or back-office roles.”
It’s partly down to pay. Now that Aussie bankers are paid on a par with their international colleagues, there’s not so much of a need for top-ups of the non-monetary variety.
“The money is big,” says Warren Price at Select Personnel. “A not-too-senior analyst gets A$200k to A$250k with a 100% bonus. Top analysts are on half a million – with multiples. But it’s up to the individual to negotiate a package.”
Wood says global postings are now so common that people don’t need enticements in quite the way they used to – at least not in Australia.
However, this is not always the case in Asia. Edmund Gill at recruitment firm Hays says compensation in Hong Kong can double once perks are taken into account.
Darkes confirms this: “In Hong Kong, reserving a school place costs US$50k before fees, and staff will not go there without that school bond.”
There is no way Australian salaries are on par with that in the UK we are nowehere in the same galaxy. I dont know where he is getting the salries for BA's at 200K?? Reality is in London I was on $375K Aussie and here back in Sydney $170K A and the cost of living is so high now in Sydney it is on a par with London..thats reality
IB 06 Nov 2007
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