International movers have been told to look beyond “headline pay packages”, even if at face value they appear generous in comparison to salaries offered for similar positions within the UK.
Christina Langley, founder and managing director of Langley Search & Selection, explained that some overseas salaries are often overinflated for a reason – they don’t come with employee benefits, like healthcare, for example.
Add to that disparities like a higher cost of living – especially in cities like Geneva, Zurich, Singapore, Tokyo, Hong Kong and Moscow – and soon enough, the substantial salary doesn’t seem so lavish.
“Those interested in working overseas need to investigate living costs as fully as they can,” she advised in an article for Supply Management.
“Healthcare, housing and education costs will all differ from one country to the next. Often, the best solution is to contact those that have already worked in a particular country to find out about their experiences.”
Ms Langley was keen to add that one area that needs to be firmly gripped is tax. Working overseas while still having permanent residency within the UK throws up various legal quagmires.
A case in point, illustrated the recruitment specialist, is returning to the UK after less than a year abroad. This can “result in a UK tax liability on overseas earnings”, which is the kind of superfluous tax that can be avoided.