Landing an overseas job opportunity can be exciting. In all the buzz, you may risk overlooking some salary details that later prove costly.
While working with a placement company, some employees assume the contracts are unnegotiable. Yet, there are usually many details in your contract you can talk over with your employer. By putting your negotiation skills to use, you can walk away with an attractive expatriate salary package.
Pay attention to detail
Before you get a chance to discuss your compensation, first study the finer details of the offer. Enrolling in negotiation classes can prepare you to pay attention to the main terms and fine print in contracts.
Your contract may have extra clauses your employer may have muted over. For instance, you may only be ripe for a bonus after a two-year vesting period. You may also incur penalties if you quit before the set date.
Compensation package
Your salary will likely be your first focus when . While the gross pay is vital, you have to weigh it against other factors including:
- Hardship conditions in the host country.
- Level of taxation.
- The cost of living.
- Availability of leisure facilities.
- The cost of relocation from your home country.
- Types of cuisines available.
During negotiation classes, other key factors might dawn on you, such as:
- Healthcare provision.
- Security concerns.
- Level of infrastructure.
- Access to communication with family back home.
- Level of individual freedoms.
- Access to career growth opportunities.
You may negotiate for higher pay to make up for a lower quality of life in your host country. You may also work towards a higher salary if you will be missing out on career training and onsite classes back home.
Discuss benefits
What incentives is your company offering to move you to a foreign country? According to the best negotiation classes, greater benefits can make up for salary shortfalls. Some perks you may need to thrash out include:
- Medical cover: Does insurance cover your whole family? Will you need to co-pay?
- Vacation days: Are there extra vacation days for traveling back home?
- Sick days: How many sick days are you allowed per year?
- Holidays: Do you follow the host country calendar, the home country calendar, both, or neither?
- Complimentary trips: Will the company foot the airfare on at least one trip per year back home?
- Housing: Will the company provide secure housing or enough allowance for a suitable unit?
- Education: Will your employer foot the bill for international school education for your kids? Will the company assist with placement and registration?
- Spousal Aid: Can the company secure employment for your spouse or offer compensation?
- Work Documents: Will the company clear your work permits, travel visas, and taxation forms?
Ensure contract is enforceable
Make sure the employment contract is legal and enforceable. The facilitators of the best negotiation classes report how, in some countries, law agencies and companies may not honor contracts. Contracts may especially be unenforceable if formed in a foreign country. Find out the laws and values of your host country.
Some employers might try to take advantage of lax laws to find creative interpretations of your contract terms. To avoid such scenarios, it’ll help to do due diligence. Dig for any red flags from previous employees. You can also negotiate to include clear benchmarks in your contract that spell clear rules of engagement with your employer.
