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The skinny on saving in KSA
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Yasuke



Joined: 10 Jan 2014
Posts: 178

PostPosted: Thu Jun 12, 2014 3:47 am    Post subject: The skinny on saving in KSA Reply with quote

As I've been looking over the site, it seems most go to KSA to save money. But I'd like to talk about this in more detail. Assuming that people are spending about $1,000 a month from their salaries:

It seems like with rough ride recruiter/ contractor , one might be able to save $24,000-$30,000 a year after all the shenanigans. If they catch you in one of there various traps, you might end up saving $17,000-$20,000.

With direct hire universities, depending on qualifications, it seems like people can save between $36,000- $45,000 a year.

With the military contracts, one may be able to save between $50,000-$$70,000 a year.

Please let me know what you think or know.
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lcanupp1964



Joined: 12 Dec 2009
Posts: 381

PostPosted: Thu Jun 12, 2014 5:42 am    Post subject: Reply with quote

As a direct hire at a university, I can easily save between $50,000 - $55,000 USD a year, but I spend around 5,000 bucks during the summer break, so let's say an even 50 grad per year that I can put into my bank back home. I don't have a family (no wife/kids to support), nor any bills in the states, so keep that in mind. With a family, one might be able to save around 30,000 USD per year as a direct hire.

I have noticed salaries in the Kingdom are getting lower (even though KFUPM had an increase to its min. salary) and lower each year. Supply and demand. I have seen the same thing happen in the ESL field in Japan during the late 1980's and early 1990's. I was there for three years during that golden time.
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Yasuke



Joined: 10 Jan 2014
Posts: 178

PostPosted: Thu Jun 12, 2014 6:03 am    Post subject: Reply with quote

lcanupp1964 wrote:
As a direct hire at a university, I can easily save between $50,000 - $55,000 USD a year, but I spend around 5,000 bucks during the summer break, so let's say an even 50 grad per year that I can put into my bank back home. I don't have a family (no wife/kids to support), nor any bills in the states, so keep that in mind. With a family, one might be able to save around 30,000 USD per year as a direct hire.


I imagine your working with a salary that incoming teachers are probably not able to receive, and also receive a cost of living raise every year. What would you imagine that math would be like for others?
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cnthaiksarok



Joined: 29 Jun 2012
Posts: 288
Location: between a rock and a sandy place

PostPosted: Thu Jun 12, 2014 6:28 am    Post subject: Reply with quote

I was going to make a new thread with the following title, (but it seems appropriate here):

Signs your co-workers have joined the "500 club"

(edit: that is 'do not spend over 500 RIYALS a month')

1- There is never any toilet paper (or liquid soap) in the school restrooms...but I swear....it was stocked at the beginning of the week!

2- The community water cooler suspiciously goes from 2/3 full to empty on Thursdays

3- certain individuals only ever attend functions when free food/drink is on hand

4- The local shwarma delivery service visits villas more often than the mailman

Laughing


I think Ican represents a good overall average.

So many things to factor in beyond salary and other perks (internet, phone, utility bills, fuel, etc.)

- frequency of vacations,
- 5 star, 3 star (or lower) vacations,
- personal goals,
- daily habits (diet),
- dependents + debts
- extra income (investments, p/t work, online work, etc.)

If pressed, I'd guess the overall national average is right around 40,000 USD for any given year.

Obviously there are those who do much better than that.

Also (it should be obvious) Saudi has "the lifers," "the short-termers," and the ones in between - and that planned for stint has a lot of bearing on how much one saves each month.
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Yasuke



Joined: 10 Jan 2014
Posts: 178

PostPosted: Thu Jun 12, 2014 6:45 am    Post subject: Reply with quote

Really appreciate the information.
@cnthaikasrok that 500 club is funny!
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cnthaiksarok



Joined: 29 Jun 2012
Posts: 288
Location: between a rock and a sandy place

PostPosted: Thu Jun 12, 2014 7:50 am    Post subject: Reply with quote

Yasuke wrote:
@cnthaikasrok that 500 club is funny!


Yeah, it's REAL funny, till you gotta' take a c**p at work!

Laughing Surprised
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scot47



Joined: 10 Jan 2003
Posts: 15343

PostPosted: Thu Jun 12, 2014 8:07 am    Post subject: Reply with quote

Dependant wife/wives and children cost money. Many KSA TEFLERs spend a lot in vacation periods. Maintaining or buying a home outside KSA can be a real expense. Of course some dispense with that luxury or go down the route of letting out their property in the Homeland.

A lot take to the SERIOUS worship of Mammon and end up trapped in the 500 Club mentality.
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naturegirl321



Joined: 04 May 2003
Posts: 9041
Location: home sweet home

PostPosted: Thu Jun 12, 2014 8:09 am    Post subject: Reply with quote

Hope it's not single ply!
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Yasuke



Joined: 10 Jan 2014
Posts: 178

PostPosted: Thu Jun 12, 2014 8:43 am    Post subject: Reply with quote

cnthaiksarok wrote:
Yasuke wrote:
@cnthaikasrok that 500 club is funny!


Yeah, it's REAL funny, till you gotta' take a c**p at work!

Laughing Surprised


Understood, but away games are always tough.
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nomad soul



Joined: 31 Jan 2010
Posts: 11454
Location: The real world

PostPosted: Thu Jun 12, 2014 8:55 am    Post subject: Re: The skinny on saving in KSA Reply with quote