To ensure you land the best paid overseas teaching job you need to consider more than just the salary being offered. Benefits and income tax can either significantly add to or subtract from your savings potential. Here's how...
When looking for the best paid overseas teaching job it is easy to be blinded by the salary being offered but this may prevent you from making the best choice if saving money is your primary concern. Here are two tips to help you find the highest paying teaching job abroad - net.
Teaching jobs abroad come in many shapes and sizes. You can teach English in private language schools, teach at universities set up for local students from the host countries and, you can teach at international schools which are set up for expatriate children.
The most lucrative position is usually teaching at an international school for expatriate children. There are over 4000 international schools worldwide so there is plenty from which to choose.
Salary and Benefits
When considering a teaching position abroad it is important that you consider the overall package rather than simply the salary offered. This is what makes an international school teaching job the best paid teaching position abroad.
Some benefits offered by many international schools that can add to the overall package are:
- flights paid from your home to the school's location at the beginning and end of your contract. Depending on how far your home is from the school, this benefit alone can save you several thousand dollars.
- housing allowance. Often international schools will pay you a monthly housing allowance, or even provide accommodation for you in an apartment or a housing complex. When you are offered a housing allowance you can usually find yourself adequate housing for the amount you are paid, and sometimes you can even end up with a surplus.
- end-of-contract bonus. International schools want you to remain for the full length of your contract and are willing to give you a financial incentive to do so. You may be able to negotiate an end-of-contract bonus of 10-15%.
Another consideration when considering teaching positions abroad and attempting to evaluate which one will be the most profitable is how much tax you will have to pay. Countries have the differing tax rules, for example in Taiwan you may only pay 10% tax, but in Poland you will have to pay closer to 20%. Therefore it is important to find out how much tax you will have to pay and establish how this will affect your overall take home salary.
Also, some benefits are taxable as well, so it is wise to check whether the dollar amounts you are quoted are gross (before tax) or net (after tax).
Finally on the subject of income tax, you should check with the tax department in your home country to establish what your tax commitment to them will be. Simply not living in your home country does not mean your government will not require you to pay tax there, for example, the government in Holland expects citizens who teach abroad to pay Xwealth taxX on any assets they leave behind.
This information is difficult to come by for most international schools in the initial stages of the recruitment process. Some international teacher job fair organisers require member schools to complete some of this information in their vacancy listings, but others do not. In order to ensure you have the required information to make the best decision possible before you sign a contract for a teaching job overseas, make up a set of interview questions that will cover this ground.