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First, realized that not everything is about short term money nor about living like a King/Queen being paid by a company. I have seen several people failing because they lived beyond the line they can afford, which means expending much more of what they make.
I don´t mean you have to live under a bridge, but you have to choose living with certain restrictions in order to allow you to save for future uncertain times. The Critical Equations to follow is:
Net Income = Revenues - Cost of Living - Payroll Deductions - Taxes - remittances
All source problems arise for not managing Cost of Living nor Taxes.
Only Middle East Countries pay Tax Free Compensation. For the Rest of the World Taxes are certain like death. In order to establish the Right & Correct Bidding Compensation Range you need to know Median and Averages Market Compensation for the Kind of Positions your experience qualifies you.
Always asks for a Salary Level, plus/minus a Percentage range spread not exceeding 25%.
Ideally, the Smaller the better. This range also varies with respect to country inflation.
To stablish the Right Bidding Range you need to do some spreadsheet Airtable analysis. You need find out the Cost of Living in your target country, and then calculate your
Expected Net Income = Revenue R(x) - Cost of Living C(x) - Payroll Deductions, including Taxes P(x) - Repatriation % - Long Term Saving %
Now, you need to compare to salary practices of where you currently are. I have a real case from a Latam Country, where the Candidate had a Capital of USD 3,000, good enough to survive a Search where he was, but he moved to another country and ended up loosing the $3,000 for not making right calculations, since he ended up financing the company until he broke and then couldn´t continue living in the country and having to return back.
Across the globe salaries for same position can vary from -50% up to 150%
So better know where you are looking for jobs, what type of market is? and don´t forget to find out the Cost of Living and Taxes. It is very critical. Learn to think in terms of NIAT.
If you are for Capitalizacion, strive for being at the hottest possible market. Be aware of costs of moving and who will pay for, when you are moving from one country into another.
Final Word: Always make sure to have Average Monthly Expenses X 6 in Cash Reserves, in order to survive. 6, is the number of months a Job Search make take. My Consulting Services attempt to cut those 6 in half.
Published by:
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Monday @t 5:40PM Easter Time, February 5, 2018For Texting: WhatsApp/Telegram/Imo +58(412)767-9222 - For Audio: Skype/Slack justinomora
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