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AM I making enough to survive

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kconti83
5/7/2018 21:54 EST

I was offered 130K which includes 3K a month for rent. I am a single 35 year old woman. Is this enough to survive in Bermuda.

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djoiner
5/8/2018 06:20 EST

Yes - easily enough.

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kconti83
5/8/2018 07:00 EST

Phew thanks! That 130k includes 3000 a month estimate for rent sorneality like 96k a year. Still okay?

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skater239
5/8/2018 07:12 EST

Yes, you will be fine. Good luck,,!

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djoiner
5/8/2018 07:13 EST

Yes - however you divide it up, for a single person without dependants, that’s fine.

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davetecsgirl
5/8/2018 09:57 EST

Yes that is a nice amount, and you should be able to get yourself a nice apartment with your housing allowance.

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XBDA
5/10/2018 10:11 EST

Yes, if you have no dependents then you should be fine.

$3000/mo will get you a two-bedroom furnished apartment in one of the "central" parishes (ie.,3-5 miles from town).

Taxes and withholdings will be about 10% of your paycheque, So even in a very expensive place like Bermuda, $7000 in take home pay will allow you to have a comfortable lifestyle and save a little.

It's usually the expats with families that find Bermuda impossible to afford. Spouses generally can't get permission to work, and the public school system is a pathetic joke, meaning paying private school fees.

But you may realise after a while that spending $3000 on rent instead of on a mortgage is wiping out basically all of the tax advantages of living there.

Also, remember that it is very difficult to switch jobs in Bermuda, especially in your first 2 years. So if you are expecting raises, inflationary adjustments, promotions, bonus schemes etc. in Bermuda like at home, be careful. Some (many) Bermudian employers use expat's dependence on a work permit as leverage to deny raises and promotions.

I took a contract with a Bermudian who promised me equity and a directorship after three years. But of course, he knew that timing coincided with the renewal of my work permit, so after 2.5 years he rescinded all of his promises and froze my salary, figuring I wanted to stay in Bermuda enough to accept his treatment of me. I called his bluff, quit and left the island. That's not an atypical experience.

If you have a US-based employer, then it's a completely different story. Usually the "exempted" companies (ie. the non-Bermudian owned ones) treat their employees the way that they say they will.

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kconti83
5/10/2018 10:23 EST

Thank you! Yes my current company in US owns this company in Bermuda. They wrote in my offer a promotion to AVP after first year. (Permit is for two years) and they renew permits as well if they like you. The last person they renewed her visa. 4 times. She was there 8 years. They say my net take home will be about 9700. So after 3k in rent that leaves me 6700 for food utilities buses etc (I won’t get a car). I really want to be able to save at least 3k a month or more. Hoping that will be doable. I am keeping my house in the US and renting it out so I will have something to come home to eventually.

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kconti83
5/10/2018 10:25 EST

Also they are doing the 3000 as a asepsete line item so it looks like my salary is on 96k which I believe is the cut off for paying us taxes. Could be wrong on that figure. Not sure how the taxes work.. any input?

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XBDA
5/11/2018 07:45 EST

I did the busses for the first few years I was there. I liked it at first, as the monthly pass is dirt cheap and it's hilarious that the drivers go so fast on narrow, winding roads. But the bus eventually got on my nerves and I got a car.

Overcrowding during rush hour plus a sharp drop in "long-distance" routes after 6:45 pm meant I might have to wait for a bus for 30-60 minutes to go home. If you live in the central parishes, it's not so bad; we were in Dockyard at the far end of the island which had once-per-hour service in the evenings.

There are at least 30 daily bus route cancellations (the number of cancellations is steadily increasing). They also go on strike several times per year without notice.

If you can't afford a car, you might think about getting a scooter.

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