Go Back   English Forum Switzerland > Help & tips > Employment  
Reply
 
Thread Tools Display Modes
  #1  
Old 20.03.2018, 02:14
Junior Member
 
Join Date: Mar 2018
Location: Zurich
Posts: 61
Groaned at 7 Times in 5 Posts
Thanked 4 Times in 4 Posts
Gren has made some interesting contributions
Job offer - Need thoughts before accepting please

Hi All - Thanks in advance for your time. I just received a formal offer. I do not have an issue with the base salary but the benefits package appears "weak" when compared to what I am leaving behind. I just want to make sure that the increase I received in base is not over shadow by the increase in expenses which before were covered by employer.

- Personal info: 2 people (one working only)
- Base: 160,000 CHF
- Cell Paid - up to 100 CHF
- Health Insurance - Fully on my own
- Accidental Insurance: Covered
- Transportation: Discount card of 200 CHF
- Bonus: Fully discretionary (8-12%)
- Moving Allowance: 5000 CHF before tax
- Temporary accommodations: 2 weeks paid but I need to pay for taxes (treated as compensation).
- Pension: 50% of "premiums" - No idea what this means.
- Swiss tax preparation services: 2 years only
- Potential Permit: L to start with chances to be on B later on

My prior employment, so you have an idea where I am coming from.

- Salary: 120K
- Insurance: Paid half by employer
- Cell: Fully paid unlimited calls and data
- Gym: 2K allowance
- Tax: 5%
- Net pay: 8,500 (after tax, pension, health insurance)
- Pension:5% contribution of gross salary per year by employer (~5-6K)
- Bonus: 8-15% (not discretionary)

Please share thoughts on any item and what is not standard and I could negotiate. I have not accepted yet. I plan to get back to the company by the end of this week.

Many thanks, Gracias,
Reply With Quote
  #2  
Old 20.03.2018, 09:56
miniMia's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: romandie
Posts: 9,998
Groaned at 99 Times in 90 Posts
Thanked 9,007 Times in 4,476 Posts
miniMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond repute
Re: Job offer - Need thoughts before accepting please

You don't think the added 40,000f a year makes up for the small difference in benefits?

The benefits look ok. The only thing really is the bonus. I'd ask how much was paid last year.

I know a company that has yet to actually give a bonus.
Reply With Quote
This user would like to thank miniMia for this useful post:
  #3  
Old 20.03.2018, 10:09
Forum Legend
 
Join Date: Oct 2009
Location: la cote
Posts: 3,083
Groaned at 18 Times in 11 Posts
Thanked 2,532 Times in 1,393 Posts
runningdeer has a reputation beyond reputerunningdeer has a reputation beyond reputerunningdeer has a reputation beyond reputerunningdeer has a reputation beyond reputerunningdeer has a reputation beyond repute
Re: Job offer - Need thoughts before accepting please

Confused at bit on how taxes would impact your take home pay.

Is current job only taxed 5%? Then 8,500 is mentioned which is not clear (monthly?). If so, the extra income in CH will face higher tax than 5%, thus this might be eaten up by higher tax rate.
Reply With Quote
This user would like to thank runningdeer for this useful post:
  #4  
Old 20.03.2018, 10:34
Samaire13's Avatar
Forum Legend
 
Join Date: Apr 2014
Location: CH
Posts: 4,063
Groaned at 98 Times in 81 Posts
Thanked 6,572 Times in 2,508 Posts
Samaire13 has a reputation beyond reputeSamaire13 has a reputation beyond reputeSamaire13 has a reputation beyond reputeSamaire13 has a reputation beyond reputeSamaire13 has a reputation beyond reputeSamaire13 has a reputation beyond repute
Re: Job offer - Need thoughts before accepting please

Quote:
View Post
Confused at bit on how taxes would impact your take home pay.

Is current job only taxed 5%? Then 8,500 is mentioned which is not clear (monthly?). If so, the extra income in CH will face higher tax than 5%, thus this might be eaten up by higher tax rate.
Current location says Bermuda, which afaik has no income tax, so of course if he pretty much moves anywhere else in the world, this tax will go up.
Reply With Quote
The following 4 users would like to thank Samaire13 for this useful post:
  #5  
Old 20.03.2018, 12:30
Junior Member
 
Join Date: Mar 2018
Location: Zurich
Posts: 61
Groaned at 7 Times in 5 Posts
Thanked 4 Times in 4 Posts
Gren has made some interesting contributions
Quote:
View Post
You don't think the added 40,000f a year makes up for the small difference in benefits?

The benefits look ok. The only thing really is the bonus. I'd ask how much was paid last year.

I know a company that has yet to actually give a bonus.
This is all going to taxes. The monthly net pay in both countries is the same. In addition, I have items covered in Bermuda by employer which are not covered in Switzerland.

Quote:
View Post
Confused at bit on how taxes would impact your take home pay.

Is current job only taxed 5%? Then 8,500 is mentioned which is not clear (monthly?). If so, the extra income in CH will face higher tax than 5%, thus this might be eaten up by higher tax rate.
8,500 is net pay monthly. Sorry I forgot to mention. Per my calculation, the net pay monthly is same in both countries. My increase is all going to the increase in taxes. My expenses paid by employer increased as well because my potential employer does not have same benefits.

Quote:
View Post
Current location says Bermuda, which afaik has no income tax, so of course if he pretty much moves anywhere else in the world, this tax will go up.
It is a "she" . Bermuda has payroll tax of 5%. Agreed. It is very little compared to other countries. I never said I was not willing to pay taxes. The increase I received in Switzerland will go straight to the Swiss gov in taxes. The monthly net pay in both places is about the same. The only difference is that in Bermuda my benefits paid by employer are more robust than in Zurich.

Last edited by 3Wishes; 20.03.2018 at 16:22. Reason: merging consecutive replies
Reply With Quote
  #6  
Old 20.03.2018, 12:57
Forum Legend
 
Join Date: Sep 2006
Location: SZ
Posts: 9,860
Groaned at 24 Times in 23 Posts
Thanked 22,061 Times in 7,057 Posts
meloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond repute
Re: Job offer - Need thoughts before accepting please

Without knowing your industry or your position, hard to say if the offer is a good one or not.

But if you are moving for a close-to-even financial deal... key then is what else does Switzerland offer that interests you.

Clearly not the weather.

But if a move here offers some other intangibles valuable to you, and you are financially whole, sounds good.

Depending on what your industry is, be aware that benefits and perks have fallen victim to belt-tightening in recent years.

IMO, better to negotiate on salary, as perks can - and at some companies have - disappeared overnight. Something to keep in mind if you are counting on perks to make the financial deal acceptable to you.

Good luck with your decision.

ETA:

Woah - just peaked at your profile and see that you are a US citizen.

Negotiate in a US tax gross-up deal. And negotiate in US tax planning and preparation services. It's the US tax planning/prep that is expensive.
Reply With Quote
The following 2 users would like to thank meloncollie for this useful post:
  #7  
Old 20.03.2018, 13:00
Junior Member
 
Join Date: Mar 2018
Location: Zurich
Posts: 61
Groaned at 7 Times in 5 Posts
Thanked 4 Times in 4 Posts
Gren has made some interesting contributions
Re: Job offer - Need thoughts before accepting please

Quote:
View Post
Without knowing your industry or your position, hard to say if the offer is a good one or not.

But if you are moving for a close-to-even financial deal... key then is what else does Switzerland offer that interests you.

Clearly not the weather.

But if a move here offers some other intangibles valuable to you, and you are financially whole, sounds good.

Depending on what your industry is, be aware that benefits and perks have fallen victim to belt-tightening in recent years.

IMO, better to negotiate on salary, as perks can - and at some companies have - disappeared overnight. Something to keep in mind if you are counting on perks to make the financial deal acceptable to you.

Good luck with your decision.
Thank you. Apologies what is IMO? For me, it makes sense after 4 years to move to a bigger place. My bf (UK) and I decided on Switzerland because we both like outdoors and he loves skiing. Switzerland for me now makes sense. The salary sounds great. I am in accounting. But I will work with smaller firm in Zurich than the firm I work with in Bermuda. My level is senior management.
Reply With Quote
  #8  
Old 20.03.2018, 13:02
Forum Legend
 
Join Date: Sep 2006
Location: SZ
Posts: 9,860
Groaned at 24 Times in 23 Posts
Thanked 22,061 Times in 7,057 Posts
meloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond repute
Re: Job offer - Need thoughts before accepting please

Quote:
View Post
Apologies what is IMO?
IMO is 'in my opinion'.

But do look at my edit re: negotiating in US tax compliance help.
Reply With Quote
  #9  
Old 20.03.2018, 13:03
Junior Member
 
Join Date: Mar 2018
Location: Zurich
Posts: 61
Groaned at 7 Times in 5 Posts
Thanked 4 Times in 4 Posts
Gren has made some interesting contributions
Quote:
View Post
Without knowing your industry or your position, hard to say if the offer is a good one or not.

But if you are moving for a close-to-even financial deal... key then is what else does Switzerland offer that interests you.

Clearly not the weather.

But if a move here offers some other intangibles valuable to you, and you are financially whole, sounds good.

Depending on what your industry is, be aware that benefits and perks have fallen victim to belt-tightening in recent years.

IMO, better to negotiate on salary, as perks can - and at some companies have - disappeared overnight. Something to keep in mind if you are counting on perks to make the financial deal acceptable to you.

Good luck with your decision.

ETA:

Woah - just peaked at your profile and see that you are a US citizen.

Negotiate in a US tax gross-up deal. And negotiate in US tax planning and preparation services. It's the US tax planning/prep that is expensive.
AAHHAH funny. I do US taxes. I got that covered . I will be a US tax senior manager.

Quote:
View Post
IMO is 'in my opinion'.

But do look at my edit re: negotiating in US tax compliance help.
Thanks !! I need to negotiate Swiss tax preparation but knowing me, I will probably figure it out in the first two years and then do it myself.

Last edited by 3Wishes; 20.03.2018 at 16:22. Reason: merging consecutive replies
Reply With Quote
  #10  
Old 20.03.2018, 13:57
John_H's Avatar
Forum Legend
 
Join Date: May 2013
Location: Up above Nyon
Posts: 3,111
Groaned at 83 Times in 51 Posts
Thanked 3,836 Times in 1,527 Posts
John_H has a reputation beyond reputeJohn_H has a reputation beyond reputeJohn_H has a reputation beyond reputeJohn_H has a reputation beyond reputeJohn_H has a reputation beyond reputeJohn_H has a reputation beyond repute
Re: Job offer - Need thoughts before accepting please

Quote:
View Post
Thank you. Apologies what is IMO? For me, it makes sense after 4 years to move to a bigger place. My bf (UK) and I decided on Switzerland because we both like outdoors and he loves skiing. Switzerland for me now makes sense. The salary sounds great. I am in accounting. But I will work with smaller firm in Zurich than the firm I work with in Bermuda. My level is senior management.
Afraid it doesn't quite seem like senior manager salary? Maybe in a small company, i dunno.. But senior manager, 160k .. Naaa . Most of the benefits are pretty bog standard stuff.



Just my 2 cents
Reply With Quote
This user would like to thank John_H for this useful post:
  #11  
Old 20.03.2018, 13:59
Junior Member
 
Join Date: Mar 2018
Location: Zurich
Posts: 61
Groaned at 7 Times in 5 Posts
Thanked 4 Times in 4 Posts
Gren has made some interesting contributions
Re: Job offer - Need thoughts before accepting please

Quote:
View Post
Afraid it doesn't quite seem like senior manager salary? Maybe in a small company, i dunno.. But senior manager, 160k .. Naaa . Most of the benefits are pretty bog standard stuff.



Just my 2 cents
Thanks John. What is standard for senior manager? If you please care to elaborate, I will appreciate it. Thanks,
Reply With Quote
  #12  
Old 20.03.2018, 15:57
ZuriRollt's Avatar
Forum Legend
 
Join Date: Aug 2015
Location: Zürich
Posts: 4,273
Groaned at 158 Times in 102 Posts
Thanked 4,789 Times in 2,177 Posts
ZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond repute
Re: Job offer - Need thoughts before accepting please

Quote:
View Post
Thanks John. What is standard for senior manager? If you please care to elaborate, I will appreciate it. Thanks,
Difficult.

At least it appears to be 'above board' i.e. a good standard package.
But, as others have mentioned - difficult to judge without knowing more about your career profile.

Guessing from what you've mentioned, I'd say this is a standard to good package for middle / upper management with good experience within your usual big bank. Nothing to be sniffed at.

Any bonus is always dependent on many factors.
Reply With Quote
This user would like to thank ZuriRollt for this useful post:
  #13  
Old 20.03.2018, 16:02
Junior Member
 
Join Date: Mar 2018
Location: Zurich
Posts: 61
Groaned at 7 Times in 5 Posts
Thanked 4 Times in 4 Posts
Gren has made some interesting contributions
Re: Job offer - Need thoughts before accepting please

Quote:
View Post
Difficult.

At least it appears to be 'above board' i.e. a good standard package.
But, as others have mentioned - difficult to judge without knowing more about your career profile.

Guessing from what you've mentioned, I'd say this is a standard to good package for middle / upper management with good experience within your usual big bank. Nothing to be sniffed at.

Any bonus is always dependent on many factors.

This is what I thought as well. The move from countries is not leaving me worth off but not better off either. It is kind of at par. My firm I am working for is small. That is also a key factor.
Reply With Quote
  #14  
Old 20.03.2018, 18:48
Junior Member
 
Join Date: Oct 2014
Location: Basel Area
Posts: 92
Groaned at 2 Times in 1 Post
Thanked 76 Times in 42 Posts
The ScottiCH One has earned some respectThe ScottiCH One has earned some respect
Re: Job offer - Need thoughts before accepting please

CHF5000 + 2weeks’ temp housing for relocation looks a bit low to be honest...suggest pushing for at least 1-2 months’ temporary accommodation, flights here paid for you and partner, relocation of all your household goods, settling-in/house-hunting assistance paid for - and for them to pay the tax grossup on all of this to leave you no worse off.

This can all easily add up to 30k or more depending on the situation.

Not sure about salary for you, check Numbeo/Glassdoor for salary or cost of living comparisons.

Benefits + pension etc look pretty standard
Reply With Quote
This user would like to thank The ScottiCH One for this useful post:
  #15  
Old 20.03.2018, 19:15
Junior Member
 
Join Date: Mar 2018
Location: Zurich
Posts: 61
Groaned at 7 Times in 5 Posts
Thanked 4 Times in 4 Posts
Gren has made some interesting contributions
Re: Job offer - Need thoughts before accepting please

I am getting the flight in paid, nothing more. I am not planning to bring anything in besides clothes.
Reply With Quote
  #16  
Old 20.03.2018, 21:18
Member
 
Join Date: Nov 2007
Location: Zürich
Posts: 151
Groaned at 0 Times in 0 Posts
Thanked 24 Times in 17 Posts
Flutterby has no particular reputation at present
Re: Job offer - Need thoughts before accepting please

Bermuda is one of the few locations to move from where cost of living in CH, even Zurich, will be felt cheap...

I agree with other comments, 2 weeks paid temporary accommodation is short (finding an apartment/house might take some time.. at least in and around Zurich).
Gym contribution is not something common in CH. Many employers pay a contribution (200 CHF) to the health insurance (but not all). The rest is pretty much standard. Income tax will be higher than BDA, but much less than UK taxes...

As far as I know BDA vs Switzerland, you will be better off in Switzerland with the offered package.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Accepting and signing for a job offer - then declining it emur Employment 18 23.02.2018 15:25
Is it a good idea to talk to future colleagues before accepting an offer? RandomForest Employment 8 27.06.2014 15:15
Legal implications of verbally accepting job offer and changing my mind missy123 Employment 8 05.06.2013 14:48
Accepting a job offer previously refused... RomandieFan Employment 7 14.03.2013 18:52
Need advise in accepting Project Manager offer in Basel dc_kl_tf Employment 23 03.12.2007 14:33


All times are GMT +2. The time now is 01:19.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0