Savings Potential Plus Good Education For Own Kids

[Nomad68]

Can anyone suggest countries and even specific secondary/high schools that are good in terms of savings potentials (salary package v. local cost of living) whilst also providing a good Elementary/Primary education (quality and ex-pat friendly) for my own kids? I have 3 years to go before this becomes a pressing need and want to start planning options now so all advice is welcome.

I had hoped to have enough in the pot to leave the IS circuit in a few years' time but the numbers say otherwise and I need to stay until I am 55. I have to change jobs this summer and that position should last me 3 years. Staying longer is not an option as I cannot get my children educated there.

I have worked in the Middle East where the packages have been good but none of the schools I have worked at have been that great (IMHO) for ex-pat kids, either in terms of quality of school or ex-pat friendly, local racism/intolerance, etc. In terms of location I would consider the Middle East, Asia, Latin/South America and Europe. I think the ME is ruling itself out though in terms of being ex-pat friendly for kids and as a safe location.

My requirement is a need to save $25K - $30K USD a year (or better) after living expenses, and I need Elementary /Primary schooling for 2 children.
(My position is usually HOD level and I have international and IB experience. My role in school is usually hard to fill).

I will be 50 by the start of their schooling and by 5th/6th grade I will be 55 and ready to find a permanent position in Europe to see me through to retirement.

So, which countries - or even better - which specific schools do you think fit my needs?

[PsyGuy]

If the ME and Aramco arent going to do it for you, you basically have three options:

THE GOOD

You need to go to Australia/New Zealand. Its the only one of two places (second location forthcoming) that has the salary potential large enough to work with assuming you can get the right TLR position. Everywhere else, even top tier elite schools, either the taxes are high, the costs of living are high, or the coin just isnt there to begin with.

The BAD

You dont have time to NOT go to Europe. Your 50, you need 5 years of residency, in general, to get PR, and 10+ years minimum to get a social pension. By the time your hitting 55 your going to age yourself out of the profession (with retirement at 65), you wont have any margin for error at 55. Wherever you go thats where your going to have to stay and make it work, you wont have any outs or options. It would be like hitting the ignition on a SCRAM engine or JATO, there is no stopping or changing course.
That second location in EUR is Switzerland. Somewhere like Le Rosey, Switzerland has the highest concentration of IS wealth in the world.

THE UGLY

How much money do you have? This last option is going to take a lot of it, and that option is to transition from IT to ownership. If not a small IS, a language or ESOL school. Its the only IE option you cant age out of, and more of the success factors are in your control.
The less risk averse version is to transition to admin/management, but it doesnt sound like you have the resume or current school opportunity to do that now or very fast.

[Heimtun]

We have three children and so the quality of education was a huge factor when choosing an international school (our last abroad experience was a one-year teacher exchange in Australia, where the school experiences professionally and personally for the kids were horrible!). Even though Bangladesh isn't high up on people's lists, by all accounts, the American International School of Dhaka (AISD) is a wonderful, truly international community with a good quality education. The savings potential is very high (typically 50% of one's salary), and they do cover tuition for up to three children for a teaching couple. From middle school on through high school, there is a week without walls where groups of students camped in Bhutan, plated mangroves in Sri Lanka, etc...they also have a quality sports program where the students have opportunities to travel (such as to Thailand for swimming competitions).
The school's comprehensive benefits package are all published on their website; you should check it out if the thought of Bangladesh isn't immediately a dealbreaker for you. We can't wait to get there.

[Nomad68]

Thanks for the replies so far.

Bangladesh hadn't occurred to me but Switzerland had. We might consider staying in the ME if we can find the right school - for me as an employee and for my children if it satisfied the ex-pat friendly criteria. Possibly Qatar.

PsyGuy, many thanks for your detailed reply. ARAMCO isn't an option as I am not US trained. (I am not a teacher I am a Media Specialist so some of your suggestions are not do-able). I take your point about getting back into Europe before I am 55 so that ramps up the plan. We definitely need to be settled by the time both of our children are entering High school. Switzerland appeals in terms of location, potential earnings and schooling.

I had thought about parts of Asia in terms of good international schools, low taxes and low cost of living - but perhaps the salaries don't meet our savings criteria?

Still interested in other replies and suggestions - for family friendly schools with good salary savings potentials and ex-pat friendly Elementary schooling.

[PsyGuy]

@Nomad68

Would a US credential make ARAMCO a viable option? If so you may want to consider certification in a state such as Hawaii. Assuming you were formally trained as a professional teacher (PGCE, PGDE, B.Ed, etc), foreign licensed teachers need only a Foreign Credential Evaluation, your Bachelors degree would meet the basic skills requirements and assuming your major in in your qualification field, their would be no assessment requirements, no fingerprints or DBS/CRB check, just an application, transcript and the credential evaluation. You can have the whole process completed in a few weeks, and Hawaii offers both 5 year and 10 year licensing options (depending on years of teaching experience).

The issue with Asia as I wrote before is that even the top schools either the cost of living is very high (HK/SG/JP) or the gross salary just isnt there. The trade off for the low cost of living and low taxes is that your making mid $30K a year at best, and no matter what percentage of that you save, when your leaving in a few years its going to be a quaint and all together insignificantly trivial amount of money. It doesnt matter how much or how far $10K-$20K goes in some Asian country, it matters how far it gets you in Europe. You need a regional economy that can approach close to six figures, giving you the capital to work with, instead of trying to turn a little into a lot.

Its really a moot issue, while interesting as an academic exercise, the cold reality is that every year you spend in Asia is a year less you have to spend in WE building the end game of your career, family, and personal life. One less year of flexibility and with increasingly narrower options.

[nalfc]

Sorry Psyguy but you are incorrect about the salaries, I make over $50k and when you add all the benefits on top, housing, flights, medical etc it is more like $75k. This is in a school you have called third tier in Vietnam and I save around $20k a year after day to day expenses, going somewhere hot and exotic every vacation, upgrading the annual flights the school pays for, adding a little more to the housing (we live in total luxury) and taking taxis to work everyday.

[gibwise]

As well as AISD also check out ISD in Bangladesh - I worked there for a couple of years and was in BD for four. ISD is a good school and I would have stayed longer in a different location. The pay is a bit lower than at AISD but my wife and I easily lived well within one salary and depending on how much you want to travel you could with kids too. One difficulty in Europe whe you eventually move to consider is that alot of EU countries tax benefits (such as tuition) so you will need to check into that before you make a move.

[mysharona]

If you can see past the pollution, China has more than one school that would satisfy all your requirements. ISB, WAB and SAS all come to mind, they have excellent educational programs and very good packages.

[sciteach]

Hi All,

I'm not trying to sound negative, but I just wanted to point out that a couple new to international teaching with 2 kids is going to find it challenging to get a job at many of the high paying schools compared to teaching couples or teaching singles.

Many of the higher paying schools look for people with a lot of experience or both employees have a good fit for that school at that particular time.

Also note that quite a few countries also tax your kids school fees (even if paid for by the school) which can further lower potential savings....

I do however believe that it's possible to live comfortable and save as an international teacher. However, it's not really possible to save a lot of money unless you are willing to go to a real hardship post.

[Heimtun]

@sciteach--I'm not sure if you would consider AISD a high-paying school (it is to me). I know Bangladesh is considered a hardship post, but a 'hardship post' doesn't mean people don't have amazing, rewarding experiences there--we cannot wait and will also be well-positioned for some amazing travels. In fact, except for extreme proximity to the ocean, this job has exactly everything we were looking for.

Most people on here make people new to international teaching with children feel like they have no chance in hell in getting a job, and I hesitate to deter people from pursuing their passions/dreams. I don't know if my family is an extreme anomaly, but we have three kids, we are new to international teaching (except for a one-year exchange in a regular school in Australia), one of us is brand new to teaching...and we got solid jobs at a great school at our first hiring fair.

So anyone out there with children--believe that it can happen, and make it happen!

[sciteach]

I would consider Bangladesh a hardship post - albeit one or possibly two of the schools are a little bit of an oasis in the very hectic city of Dhaka. I'd not work in Dhaka - but that is more of a personal choice as there are many worse places to live.

Personally, I've found that teaching couples of kids can get jobs internationally - but it tends to couples who have a bit of experience who get into the perceived better schools.

It should also be acknowledged that I did not read all of the original message as I should be - but this is often done by many of us (or at least I'm hoping).

[PsyGuy]

While all of the previous mentioned ideas sound good, they arent pragmatic. You need a solid 6 figures a year if your going to make a 5 year retirement run to WE. You have to account for gross/raw earnings. Those places are oil money, Switzerland, or a domestic school (UK, Australia, US, Canada) with an unlimited cap and the right TLR assignment that pushes your combined salary into the 6 figures, where you can control expenses.
While allowances are typically added as value all they really do is free up net income and discretionary spending. $50K with a $25K OSH package is still $50K, it just has more utility since you dont need to budget for as many living expenses, it doesnt increase the actual income generated.
The other primary issue to consider is the hiring scales cap. If your already close to or at the entering WEs cap then any years you put in after are just lost years for salary determination, lost years that would have actual monetary utility if already at the destination IS.

Bangladesh is a hardship location and there just isnt the money.

[Nomad68]

Many thanks for the replies so far. I am not a teacher - my job falls into admin/academic support and the maximum salary I think I can hope for depending on location is between $40K - $50K USD. I have a trailing spouse and 2 pre-school kids.
I have previous school and college experience including international experience mostly in the Middle East.

The ME increasingly feels unstable and from my experience the children of expats seem to suffer academically (and in terms of bullying) from being in classes of largely local children. A generalization but the case in the schools I have worked in.

Switzerland sounds interesting although cost of living sounds high. I have been interviewed previously for a school in Bangladesh and the salary just did not cut it for what, as SciTeach rightly states, is a hardship post and not a very safe location. I have heard that salaries in China can match those in the ME - although air pollution and food safety are concerns - are there any specific schools there that might meet our needs? Other SE Asian countries such as Thailand and Vietnam have low cost of living but the salaries seem to fall short of our needs.

[vandsmith]

international school of bombay.

v.

[PsyGuy]

@Nomad68

The only places in Asia that will come close are going to be the elite tier schools. SG and HK are the best options if you have environmental and health concerns. Switzerland does have a high cost of living but thats all of the WE, which is where you want to retire out from. The sooner you start adding and contributing to your EUR social pension the better, unless you can bank $50K a year in actual coin in the bank savings, otherwise relocating to WE is the best option.