Salary comparison for candidates from the UK
To make a meaningful comparison, the key consideration is to think about how much you would need to earn gross working in the United Kingdom to end up with the same net disposal income as you will receive from offshore employment.
The tables below readily allow you to compare your tax-free salary earned offshore in US$ and converted into sterling to a gross salary equivalent earned in the United Kingdom, adjusting for 2009/10 income tax and national insurance rates.
A) Your salary earned on the Island
B) Your salary earned in the UK
| 68,900 |
17,490 |
4,535 |
46,875 |
As you can see from the above comparison, a tax-free starting salary on the Islands of US$75,000 equates to an excellent UK salary of £68,900 in terms of net take-home pay. This excludes additional benefits associated with offshore employment such as any bonus element, medical and life insurance, pension plan, paid relocation assistance and work permit sponsorship.
C) Other advantages
Unlike in the UK, on the Island you will not have to worry about paying indirect taxes such as council tax, expensive commuting costs, the TV licence or VAT. Even better, as a non-resident you should be able to reclaim any such tax incurred (or GST, as it's called in the US/Canada) when visiting home or the North America region.
And don't forget that you'll benefit from a truly superb work-life balance not found at home.
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