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Old 15.12.2011, 09:37
Fixx Fixx is offline
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Re: 150K net (200K gross) in Geneva?

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Hello All,

I have discovered this very useful forum which has provided me with lots of information so far.

I will be starting to work in Geneva, for an international organization, on a so-called P4 position. I will have a 2+2y contract which will likely become permanent.

My salary will be around 150K CHF net, this means (internal) tax + health insurance + pension fund already deducted. I have been told this corresponds to some 200K CHF gross.

I need to live in Switzerland (Geneva, or Vaud) for tax reasons (there is no tax agreement with France). My wife will look for a job but this is reportedly difficult with her education and professional experience. I have a 10y old daughter who will go to the international school, my employer covers 80% of the school fees.

Is 150K CHF net OK for this region and as a newcomer (no existing rent, not owning real estate)? Does it really correspond to 200K gross?

What about the real estate market. I have some investments which could be used for a 20% deposit in order to buy a flat or a house somewhere in the region, but not sure this is a good idea right now.

Cheers.
You'll be very comfortable on that even without your wife working, especially with so much of the school fees covered. (Unless you expect to dine in michelin star restaurants every night etc)

And yes, it sounds about right to equal 200K (or more, looking at benefits like school fees!).

Buying is up to you - I'd recommend renting for at least a year first though, to be sure you want to stay, and to learn local areas etc - otherwise you might end up buying somewhere you're so keen on after a while.

Also make sure you are staying before you buy, as the initial fees associated with a purchase can be quite high, not something you want to spend if you will want to sell after 2-3 years.