With increased competition in Asia leading to fewer perks for arriving expats, headhunters are looking to other regions to pull together attractive financial packages, particularly in the banking sector
Potential expats in the financial sector are finding fewer attractive pay deals in Asia, as firms feel the pinch of the global recession. But looking further afield, school fees, flights home and car allowances are still up for grabs for the right candidate in certain regions.
A spokesperson from InterExec, which acts as an agent for senior executives. says that there is increased competition for roles in Asia due to firms in Malaysia, Singapore and Hong Kong actually laying off more than recruiting.
But expats in banking can still get a good package in certain parts of Asia, and in Eastern Europe and the Middle East, for example.
“It is true that expat packages are not what they used to be and it is true that there is more demand from executives for expat roles," "It is not easy to obtain the same level of reward package as one could get previously; one of our clients was recently told when attempting to do so that 'beggars cannot be choosers'.
“Having said that, the packages are still to a very great extent tax-free and a tax-free salary is a real perk."
A recent client taking up a new role in south-east Asia, they said, had "secured a £150k base salary tax-free as compared with £125k taxable in the UK, both of course plus bonuses, no school fees and two flights home, whereas a more senior client earning a £400k package in the UK has secured a £500k package tax-free in the Middle East, six air fares a year, school fees and a driver."
Perks such as school fees and flights home very much depend on the role, and you are generally only likely to get two flights home a year at a junior level.
“Singapore is likely to match UK salaries but, of course, at a lower tax rate,".
“Russia is still well rewarded but it is becoming increasingly expensive to live there, so that there tend to be more expats coming out than going in."
So where should the smart expat look for roles in 2012? InterExec is seeing some options emerge in the Middle East, Africa and Eastern Europe for the right candidate.
“In the Middle East, the Brits tend to be preferred to the Americans, because they are more diplomatic and more able to adapt to the culture,” The spokesperson said. “Particularly relevant at the moment are Qatar and Oman. There is not much in Kuwait but Dubai is distinctly coming back."
Another company in this sector "Quintessentially People", commented New York and Paris positions are no longer in demand as expats look east.
"We have been recently working on a position in Mongolia and we had huge interest from candidates,".
"Mongolia is being invested in heavily by various countries and with a potential new major international airline opening up a route to Mongolia, the country and its people will hopefully be reaping the rewards in the coming years."
Despite increased competition for roles, the spokesperson for Quintessentially People is convinced that the packages on offer are still good enough to tempt top financial talent out of Britain.
"One of our most recent positions came with a full-time chauffeur, which would be unheard of in the United Kingdom," they pointed out.
"British citizens are an attractive asset to many overseas employers and as such, they will pay to get a top quality, experienced and high-profile employees, particularly in America and Asia."
When you are working or living abroad, or have plans of relocating into another country, it is very important that you protect you and your family’s health and their wellness.
Expatriates make sure you are covered for International Medical Insurance, April Medibroker assists & advises clients living or working abroad to both choose & place the right international Health and Medical insurance products, to suit their needs & budget.
April Medibroker is here to help you - from the initial advice on what expatriate health insurance policy to buy, through to any assistance that you may need in the future. Our staff are only a phone call or email away. Whether you need changes to cover or payment, need help with a claim or have questions about your international medical insurance policy we will gladly help.
Showing posts with label Expats in Europe. Show all posts
Showing posts with label Expats in Europe. Show all posts
30 January 2012
10 January 2012
British expats claiming £50m a year in sickness benefits
At least 10,000 British emigrants are receiving sickness benefits of up to £94 a week while living abroad, according to figures published yesterday by the DWP.
But officials have admitted that about 4,000 older recipients of the benefit living in Spain, Jamaica and elsewhere will be able to continue drawing the payment until they reach retirement age.
This is due to a decision by Iain Duncan Smith's Department of Work and Pensions not to retest the entitlement of claimants aged over 60.
Under EU rules the Government is obliged to continue to pay some benefits even when claimants decide to move abroad within Europe.
The deal also includes countries outside the EU including Norway, Liechtenstein, Iceland and Switzerland.
Last month (December 2011) it emerged that expatriate pensioners received about £13.4million a year in winter fuel payments despite many living in much hotter climates than that of Britain.
Even though about 5,800 expatriate sickness benefits claimants will be reassessed, ministers will have to trust the opinions of foreign GPs.
A spokesman for the DWP said those who are genuinely too disabled or ill to work are entitled to the new Employment Support Allowance under EU rules.
If someone from the UK now living abroad has paid enough in National Insurance contributions, he or she can receive contribution-based ESA subject to the same checks as someone living in the UK.
He said: ‘Incapacity Benefit is an outdated benefit which is now closed to new claimants. We are currently reassessing everyone of working age on IB, whether they live in Great Britain or abroad.
When you are working or living abroad, or have plans of relocating into another country, it is very important that you protect you and your family’s health and their wellness.
Expatriates make sure you are covered for International Medical Insurance, April Medibroker assists & advises clients living or working abroad to both choose & place the right international Health and Medical insurance products, to suit their needs & budget.
April Medibroker is here to help you - from the initial advice on what expatriate health insurance policy to buy, through to any assistance that you may need in the future. Our staff are only a phone call or email away. Whether you need changes to cover or payment, need help with a claim or have questions about your international medical insurance policy we will gladly help
The combined total could cost the taxpayer close to £50million a year.
Over the next three years, major changes are being introduced to incapacity benefit, including a tougher medical test for claimants and the re–testing of existing recipients.
But officials have admitted that about 4,000 older recipients of the benefit living in Spain, Jamaica and elsewhere will be able to continue drawing the payment until they reach retirement age.
This is due to a decision by Iain Duncan Smith's Department of Work and Pensions not to retest the entitlement of claimants aged over 60.
Under EU rules the Government is obliged to continue to pay some benefits even when claimants decide to move abroad within Europe.
The deal also includes countries outside the EU including Norway, Liechtenstein, Iceland and Switzerland.
Last month (December 2011) it emerged that expatriate pensioners received about £13.4million a year in winter fuel payments despite many living in much hotter climates than that of Britain.
Even though about 5,800 expatriate sickness benefits claimants will be reassessed, ministers will have to trust the opinions of foreign GPs.
A spokesman for the DWP said those who are genuinely too disabled or ill to work are entitled to the new Employment Support Allowance under EU rules.
If someone from the UK now living abroad has paid enough in National Insurance contributions, he or she can receive contribution-based ESA subject to the same checks as someone living in the UK.
He said: ‘Incapacity Benefit is an outdated benefit which is now closed to new claimants. We are currently reassessing everyone of working age on IB, whether they live in Great Britain or abroad.
When you are working or living abroad, or have plans of relocating into another country, it is very important that you protect you and your family’s health and their wellness.
Expatriates make sure you are covered for International Medical Insurance, April Medibroker assists & advises clients living or working abroad to both choose & place the right international Health and Medical insurance products, to suit their needs & budget.
April Medibroker is here to help you - from the initial advice on what expatriate health insurance policy to buy, through to any assistance that you may need in the future. Our staff are only a phone call or email away. Whether you need changes to cover or payment, need help with a claim or have questions about your international medical insurance policy we will gladly help
8 December 2011
Where is the best exapt healthcare?
Expats find best healthcare in Europe acording to the findings of a new survey
The results of HSBC’s 2011 Expat Explorer Survey are out and Belgium placed #1 for expat healthcare, followed by Germany and France. Those rankings are based on affordability, access and quality of care.
This year’s survey involved 3,385 expats living in more than 100 countries. In terms of healthcare, enough data was gathered to rank 31 countries.
Interestingly, the health rankings differ considerably from the overall figures. None of the top 3 destinations for healthcare placed higher than 21st overall. This of course implies expats are not using healthcare as their main criteria for deciding where to move abroad. There is also a marked change in rankings when countries are evaluated solely on ease of organizing healthcare. Here Thailand is tops, followed by Hong Kong and New Zealand.
Overall, there is a clear divide between the countries with the best health systems and those with the strongest financial opportunities for expats. Countries in the Middle East and Asia ranked highly for income and disposable income, as well as work-related criteria, but they did poorly when it came to healthcare.
Saudi Arabia and Egypt, for example, placed 1st and 2nd in terms of income. But for healthcare they placed 20th and 21st, respectively. So for the time being it seems expats will continue to face a trade-off between financial opportunity and superior healthcare.
When you are working or living abroad, or have plans of relocating into another country, it is very important that you protect you and your family’s health and their wellness.
Expatriates make sure you are covered for International Medical Insurance, April Medibroker assists & advises clients living or working abroad to both choose & place the right international Health and Medical insurance products, to suit their needs & budget.
April Medibroker is here to help you - from the initial advice on what expatriate health insurance policy to buy, through to any assistance that you may need in the future. Our staff are only a phone call or email away. Whether you need changes to cover or payment, need help with a claim or have questions about your international medical insurance policy we will gladly help.
The results of HSBC’s 2011 Expat Explorer Survey are out and Belgium placed #1 for expat healthcare, followed by Germany and France. Those rankings are based on affordability, access and quality of care.
This year’s survey involved 3,385 expats living in more than 100 countries. In terms of healthcare, enough data was gathered to rank 31 countries.
Interestingly, the health rankings differ considerably from the overall figures. None of the top 3 destinations for healthcare placed higher than 21st overall. This of course implies expats are not using healthcare as their main criteria for deciding where to move abroad. There is also a marked change in rankings when countries are evaluated solely on ease of organizing healthcare. Here Thailand is tops, followed by Hong Kong and New Zealand.
Overall, there is a clear divide between the countries with the best health systems and those with the strongest financial opportunities for expats. Countries in the Middle East and Asia ranked highly for income and disposable income, as well as work-related criteria, but they did poorly when it came to healthcare.
Saudi Arabia and Egypt, for example, placed 1st and 2nd in terms of income. But for healthcare they placed 20th and 21st, respectively. So for the time being it seems expats will continue to face a trade-off between financial opportunity and superior healthcare.
When you are working or living abroad, or have plans of relocating into another country, it is very important that you protect you and your family’s health and their wellness.
Expatriates make sure you are covered for International Medical Insurance, April Medibroker assists & advises clients living or working abroad to both choose & place the right international Health and Medical insurance products, to suit their needs & budget.
April Medibroker is here to help you - from the initial advice on what expatriate health insurance policy to buy, through to any assistance that you may need in the future. Our staff are only a phone call or email away. Whether you need changes to cover or payment, need help with a claim or have questions about your international medical insurance policy we will gladly help.
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