International Schools Paying $100,000+

marina
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Joined: Sun Jul 26, 2015 2:31 pm

International Schools Paying $100,000+

Post by marina »

So, I was offered a job back in the US that pays well over $100,000. I know that schools in Switzerland, Saudi Arabia and a few other extremely high cost of living or hardship locations offer over $100,000 salaries, but without naming particular schools on this thread, can anyone else name countries where such salaries may be found? I would love to stay international, but I also would love to live well too, so I am torn. The offer I am considering would be equivalent to $170,000 in Zurich. Is that ever achievable in an international location that is not in the ME?
PsyGuy
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Response

Post by PsyGuy »

Sure, some of the top elite prep DSs late career IT/DT with a TLR 1 appointment in the UK or AUS will hit 6 figures (a couple states in the US as well mainly in NYS and CA, with a few on the East coast in Colony cities. There are a couple in CAN such as Appleby as well). There are some elite prep DSs/ISs in the rest of the WE that will also hit 6 figures with added responsibility. Otherwise if you want 6 figures outside of the options previously mentioned in your inquiry, you need to move into executive levels of leadership, or start your own IS/ES.

Steal to the grindstone, if you have an offer for CHF170K your not going to find that available at this time of recruiting, and you would need/have a golden ticket finding even low six figures outside the ME and a few WE elite ISs (mostly Swiss ISs/DSs) Youd have a hard time finding that even in the ME, youd have to hit all the right check boxes to get that in Aramco/BAE/LaRosey, etc.. Low six figures is the most you can get even in DoDDS (monetizing all benefits).

Be prepared for a large number of inquirys asking you "where", and if this IS has any other vacancies.
shadowjack
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Re: International Schools Paying $100,000+

Post by shadowjack »

So you take the 100,000 plus job (my last domestic teaching post as a regular classroom teacher was north of 100K).

Factor in taxes. Now it's down to 80K. Factor in housing expenses. Now it's down to 60K. Factor in sales tax. Now its down to 55K.

I take home 55K easy overseas, plus get free flights paid for, plus good medical, plus a retention bonus plus a pension payment, plus ProD flying to different places.

So why would I want to go back home?
PsyGuy
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Post by PsyGuy »

@SJ

Its not 100K, its 170K, even after taxes, housing, etc, its still over 100k not 55K.
wrldtrvlr123
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Re: Reply

Post by wrldtrvlr123 »

PsyGuy wrote:
> @SJ
>
> Its not 100K, its 170K, even after taxes, housing, etc, its still over 100k
> not 55K.
-------------------------
$170K sounds too good to be true as a teacher (I am not saying that it is not true). Even in the rare districts that have that type of scale I am surprised they would give someone enough years credit to put you there to start.

Tough to prognosticate without details but taxes alone in many places are going take you down close/a significant ways towards $100K. Housing +taxes, especially in such a wealthy area would likely put you well under $100K take home.

That being said, anything close to $100K take home is likely to beat anything the vast majority of int'l schools can offer. So, if money is the biggest factor then take the job. If you think you can get anywhere close to that and stay overseas then give those a shot. Or take the US gig for a few years while continuing to apply to the upper echelon schools overseas. If one comes through great, if not, enjoy the good life at the deep wallet school in the US and maybe when you feel financially comfortable enough take an overseas job for the location, lifestyle etc. All good problems to have.
PsyGuy
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Post by PsyGuy »

@WT123

I agree we just dont know enough. It could be a boarding DS that includes on campus housing of some kind, or in a less urban metro location (that isnt NYC or SFB, etc) where housing is very reasonable, or their intention is a longer commute (such as commuting into Manhattan, from one of the other Boroughs or NJ). It could be in one of those states that doesnt have a state income tax. Its very possible that even after taxes and housing the net salary could still be well above USD$100K. We just dont know, but its entirely possible. There is a school in Houston for example that could potentially meet that salary point, and Texas doesnt have state income tax, and you can find housing in the area with a minimal commute for USD$1000.

Based on 2016 tax tables the tax rate would be 28% for single with about USD$7K in deductions youd be paying about USD$46K in taxes leaving you about USD$124K, you could have housing/utility/transportation costs of USD$2K a month and still clear USD$100K. The other option is that the salary is based on performance pay and the bulk of the comp is a really high merit bonus.

My assumption was that the LW is currently in Switzerland as they quoted the salary in terms of Swiss Francs (and CHF is about on parity with USD). Its highly likely that even in a lower tier IS in that region they are still doing better than many ISs, and at a salary level of USD$170K they are likely being recruited away from one of the already high paying ISs/DSs. Youd need to offer a comp package in that range to attract someone from one of those ISs/DSs. To go back from a US appointment of USD$170K to Switzerland youd have to have an offer from somewhere like Le Rosey.

Thats the life of a superstar IT and superstar IT problems.
shadowjack
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Re: International Schools Paying $100,000+

Post by shadowjack »

My OP still stands. A lot more expensive to live in Switzerland, even with the 170. Taxes, expenses, everything, just eats up the CF. In the end, when I make 57K I get to keep the entire 57K. My expenses are food, clothing, and travel. That can be as limiting or as expensive as I want. Not many places you can get 57K and decide how to spend it... just saying...
PsyGuy
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reply

Post by PsyGuy »

@SJ

You would be standing next to wrong then.

It can be expensive to live in Switzerland, places like Geneva, Bern, Zurich, can be really pricey, but they can also be reasonably affordable. As reasonable as living in NYC, parts of CA, its not as expensive as SG is, and yet students manage to live in all those places.

The potential appointment is in the USA so it would be USD not CHF. Everyone gets to keep their discretionary income and their net income. You no more get to keep X coin after taxes, etc. than anyone else does. Adults can budget, and after budgeting for living expenses 100K is still significantly more than your 57K.

Your argument is that ITs cant budget for monthly expenses so 57K is somehow better than 100K is lacking in persuasiveness and wholly without merit.
shadowjack
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Re: International Schools Paying $100,000+

Post by shadowjack »

@PG - notice he has received an offer BACK HOME in the US. So there are going to be deductions and lots to pay. And when you factor in all the ways they get you (low income tax but high consumption tax etc) it is never as nice as it seems. So I stand by my 57K that is all mine with all my major expenses covered is a better deal. The only thing better is that the OP will be paying into SS which will be better for him or her in the long run.
PsyGuy
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Post by PsyGuy »

@SJ

Yes I had noticed, and responded as well regarding the tax rate (28% for a single in federal taxes) and we dont know if the ISs is ina location that has a state tax. After taxes it would leave USD$124K which is USD$2K in housing/living costs and still have USD$100K in discretionary income, still far more than your $57K.

Many regions have high consumption tax or VAT. The US is far from unique in that regard. One can also choose how much to consume.

Your still standing on the side of wrong the LW would still have a much higher amount of discretionary income (that is all theirs) than your $57K.

The only economic conspiracy here is an imaginary one.
wrldtrvlr123
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Re: International Schools Paying $100,000+

Post by wrldtrvlr123 »

PsyGuy wrote:
> @SJ
>
> Yes I had noticed, and responded as well regarding the tax rate (28% for a single
> in federal taxes) and we dont know if the ISs is ina location that has a state
> tax. After taxes it would leave USD$124K which is USD$2K in housing/living costs
> and still have USD$100K in discretionary income, still far more than your $57K.
>
> Many regions have high consumption tax or VAT. The US is far from unique in that
> regard. One can also choose how much to consume.
>
> Your still standing on the side of wrong the LW would still have a much higher amount
> of discretionary income (that is all theirs) than your $57K.
>
> The only economic conspiracy here is an imaginary one.
---------------------------
Wouldn't it be less than $124K after SS, medicare etc? Even less if it is CA or NY which is likely since they would have some of the highest paying districts.
shadowjack
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Re: International Schools Paying $100,000+

Post by shadowjack »

He says it is north of 100,000. He says equivalent to 170 CF in purchasing. But 100K in the States is NOT 170 CF. And 170K CF doesn't go a long way when you look at Swiss costs, taxes and discretionary prices.

So let's say he makes 110 back home. Then there's the tax rate - so now it's 82 if tax is 28%. Then there's rent or purchase - a school offering 100K plus is not in a cheap area, so say it is another 24K with utilities thrown in (water, power, heat). Now you are at 58. Heck, even if he's at 120, that's 68. Then factor in higher costs plus sales tax on everything and I still put my 57K ahead of his because my 57K is entirely mine. Food (which is pretty cheap) travel (which is pretty cheap) and entertainment (which is pretty cheap).

Where he wins is that his SS contributions put him in a better position for retirement. Straight up cash? Not too sure.
joanveronica
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Re: International Schools Paying $100,000+

Post by joanveronica »

If you want to stay at an IS, stay at an IS school. Why would you consider leaving IT for money?

I am taking a HUGE pay cut next year at an IS, but my overhead will be covered and I'll have what I need.

Where do you want to live? What are your financial goals?
PsyGuy
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Reply

Post by PsyGuy »

@WT123

It could be, though he DS might have a separate/independent pension program. The employee portion of medicare is 1.45% which is a few thousand USD, not exactly a bank breaker.

CA income tax would be around 9%, its a progressive scale, with the LW in the 9.3% bracket for their income over USD$50K. NYS would be 6.65% with an additional 3.6% in NYC. Make the math easy and thats an extra 10%, on US$170K thats USD$17K, take that from USD$124K and its USD$107K, take off the medicare tax of USD3K and the net salary is still over USD$100K at USD$104K. What do you want to assume for housing/utilities? $1,000, $1,500, $2K? Its a DT/IT with a 6 figure take home/net salary and thats assuming the worst tax scenario. Maybe the DS/IS has a OSH or comp package that includes other benefits.

This is most likely to be a private/independent DS not a public/maintained DS or district.

@SJ

The USD and the CHF is nearly on parity CHF170K is USD$166,600, its not USD$100K. Referencing the above, even in a worst case tax scenario its still USD$100K+

Where the LW wins is that their comp is still significantly more than your USD$57K, thats how math works.

@joanveronica

Why would an IT leave IE; because its money, thats why its called money.
shadowjack
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Re: International Schools Paying $100,000+

Post by shadowjack »

"The offer I am considering would be equivalent to $170,000 in Zurich"

Nowhere does he say he is being offered the same dollar amount - just that the money would be like getting 170K in Zurich.
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