[QUOTE=brusch;1788009][QUOTE=BrianJW;1787921][B] Take the whole North East, West Coast, Chicago and while costs of living is higher here it`s only a bit more expensive. You certainly don`t need 3x salary. I already said you won`t be able to find a 3000 sq ft house but to say this guy needs a million to have equivalent cost of living is ridiculous. Even if he`s moving from Indianapolis.
[QUOTE=brusch;1788009][QUOTE=BrianJW;1787921][B] What a load of rubbish, unless of course the size of a house is the only measure by which your standard of living is judeged. If you are in a 10+ room house the chances are most of them are empty. The sort of salary mentioned will give anyone a more then comfortable lifestyle.
Remember standard of living should be judged by what you are able to do not what you might have done in a different environment. On the salary suggested you will easily afford to travel extensively, afford to eat without worry and have a home that is better then what the majority of the population are used to.
There would be no need for any increase let alone suggesting an increase of the multiple suggested. If you were only on 50K when you first want to move maybe the multiple would be a useful guide but this is certainly not applicable as a default
Its true, London salaries for IHLs are better than here. Bonuses there too at 10 - 20% are way higher than here. Negotiate......you must be an expert at that, right?
Are you sure about the tax at source part? I thought that while on a B permit (or the first 5 years) you are taxed at source and have to also file a tax return if you make over 120K. Although, I like being taxed at source...I am too lazy to deal with it myself
Yeah, if you're over the 120k and you're on a B (and not married to a C or a Swiss) then you do pay the tax at source (Quellensteuer) but then you fill in a tax return as well. You'll then be billed for the difference between the properly computed tax and the tax at source, or you might get some money back of course! That's how it is in canton Zürich, and I think it's the same nationally.
You'd be fine as a Swiss on that, but as an expat you have to add on the cost of satellite TV and self-raising flour. Honestly, I don't think it can be made to work on that salary.
I would agree as, in the end you will pay the difference in US tax vs Swiss tax back to the US on anything that exceeds the FEIE, Housing deduction, exemptions and and your Std/itemized deductions. So it's right pocket, left pocket situation for US expats. Ask your company to pay the difference between the two as part of your package and you'll be sitting pretty.
At the equivalent of USD 360K you will have a very nice Swiss lifestyle. But it will not be equal in terms of material trappings to what 360K would bring you in the US. You would need much more than that to replicate the US lifestyle - it's not so much a question of money but more of availability.
What you will have is a very nice flat or Swiss style home. Which means nice house, perhaps smaller than you are used to but very comfortable - but little to no land. If you are a city dweller at heart, if land/privacy is not important to you, then you're golden. If a large piece of land is important - then you will likely have trouble adjusting, no matter what your income is.
You will live differently in Switzerland than you did in the US - not necessarily better or worse, just differently.
Rather than focus on replicating your US lifestyle, ask yourself: what does Switzerland offer that I cannot get at home, and is the trade-off worth it?
(For many the answer is a resounding 'yes'.)
Depending on your tax planning and investment strategies it may well turn out that you will pay more than the US federal tax rate. Be certain that you understand the tax implications of where you choose to live, of the impact your Swiss deductions (which include your CH taxes) play in your individual US tax situation.
To be fair this guy seems pretty motivated by money and if he`s from the midwest going to an expensive Swiss city he will need more to earn similar plus a decent raise. Of course anyone should "get by" on that income. It`s not triple, not even double. I know someone offered to interview for a senior position in the midwest for half the salary they earn here. Answer was an instant no based on that salary. If it`s 1/3 the cost I guess they would have been better off.
Whether he has a family and feels the need for international school then that`s another chunk of change. The US taxes will be significant.
To the Op. You don`t seem excited about the move, "I don`t want to go unless...". I would say when in doubt just stay where you are.
Agreed. There's more to life in Switzerland than the salary you make. I think many Americans here would tell you it was quite an adjustment, and if you leap for money only you're making a short-sighted decision.
Yes. They will still be taxed at source and have to submit a tax return if them make over 120K (except in Geneva were the limit is 500K, that's a bit of a hint innit? )
As for the OP, you're all being a bit harsh. If I were making 360K, I'd be outsourcing my research to you lot as well.
To the OP, welcome to the forum! I think you have a lot to think about before you accept this offer. Looks there could be quite a few pit falls. Good luck whatever you decide!
I'm a Midwesterner, and to replicate the material lifestyle - the house with the large garden with plenty of room for a herd of collies isolated from delicate-eared neighbors yet still commutable into the city - that we had there would indeed take at least 3x the income here. Or much, much more - because what we had there simply is not available here.
Which is why I now live in a shoebox on a postage-stamp sized garden. (And have had to relinquish my dreams.)
If housing is not a critical part of the equation, then the difference is less drastic.
Yes, Switzerland offers a wonderful life to many people. It offers a chance of new adventures, new horizons. But the lifestyle will be different to what many are accustomed to, at any income level. To properly evaluate a move in light of individual situations and goals , one needs to understand that difference.
Thanks for the feedback (positive that is). My guess is this job would pay all in about 500K, which is around a 40 pct raise. Seems right considering cost of living plus higher level job. But my data points are sketchy, unclear whether I can negotiate it to 550 or 600k. It's a pretty senior job. Tax issues have to be considered too, that could effect the net significantly.
BTW-- I am very grateful for current situation, but for the USA expats from expensive cities like SF, NYC, LA, Boston, etc., u know that after loaning out college and grad school, saving for the kids college and retirement and paying income and property taxes it goes fast. Btw -- I don't take fancy vacations, or eat out expensively, and my car is 10 yrs old, but I Do have a nice house. 360k sounds like a good number even to me but in the expensive areas (which u need to get an adequate public school) with a family it goes much less far than you think.
You really are either a glutton for punishment, or deeply insensitive. That salary is beyond the dreams of all but a select handful here, so I suggest that (again) you ask about % comparators, rather than revealing so much because from here, it looks a little gauche
you should have a junior paralegal thrown at you to arrange the move. As a BSD, I would be expecting someone else to post breadcrumbs of information on the Internet for my titillation.
After all, at your level you should not be bothered with the small details.
Is your employer offering a relocation package and assistance?