myoface

Not to change thread direction, but you make 80k and you cant save much? Maybe instead of looking to uproot your family, you should look at how you handle your finances. Unless you have exceptionally high housing costs or medical bills, you should be able to put some money away. My point in bringing this up is if you are living beyond your means now, what makes you think you will live within your means at Emirates making more money?

fullflank

The guy was pretty clear. Two young children and a wife that doesnt work. You think 80k is easy living in that circumstance? I would bet he is paycheck to paycheck and is very much within his means.

RedeyeAV8r

The problem is, what if he goes to DXB and his wife hates it?

1. He will return to the US and will have quit his $80,000 year job.
Where in the US can you start close to that in this economy?

2. Wife really hates it and it ends in Divorce ( let's hope not) and then he will have alimony and child support.
None of us want to see that.

3. He goes to DXB and his wife is OK with it. What then?
How long will they stay? Most people get home sick after a while.

Emirates can be a good gig for the right people. I've met a few emirates
Guys while on layover there. Most will tell you it is a great temporary gig.

Furloughed from a Major?
Retired Military.
Early airline retiree drawing pension or lump sum at 54 and then work at Emirates as direct entry Capt for 4 -5 years.

To each their own. you gotta do what you gotta do.

fullflank

I'm not debating you at all. You make very good points with which I agree. Just to be clear, I am not advocating that he goes to DXB, especially since his wife made it clear she is against it. Forcing this on her is a recipe for disaster. I'm simply saying that 80k, in this guy's situation, is not alot of money, and I doubt he needs to re-evaluate how he spends.

boarderdw

80,000 is still definitely paycheck to paycheck. After all is said and done it's only about
4000 take home a month. I have a mortgage on a modest home, one car pmt, a few credit card bills as a result of being a regional FO for over 4 yrs, and student flight loans the equivalent to a mortgage on a small home (the only reason I'm still pursuing this mess of a career - I cannot afford to add a masters degree to my finance degree). I would venture to say I do not live beyond my means. I grew up as an expat in South America and it was a great experience. My wife is intrigued by the expat life, but understandably hesitant about living it in Dubai. I've done quite a bit of research and my wife is almost sold on it. The final piece of info we need is the financial picture. I have an interview in Jan and would like to be 100% confident by then. Any help out there as far as potential FO savings?

RedeyeAV8r

I recommend you take your wife to DXB. I know it is expensive.
Dubai is probably the most Western and progressive city in the MidEast Arabic world. It is a beautiful new City but it definitely has a dark side.
Their laws and Customs are vastly different from ours.
Women are not afforded the same opportunities and treatment as
they are in the US. Let your wife see it before you make your decision.
If she likes it then your are in. If she doesn't, at least you know where you stand.

Also do not be taken in by the January weather. That is probably the nicest time of the year.
Think of it as being in Fairbanks Alaska in August.

Good Luck with your interview and I hope things go well for you.

Kernow

The bad news is you will still be on about $80,000 a year. But the good news is that is tax free, plus you will have a free furnished villa, and a very healthy contribution towards you children's education, utilities paid for, a 12% company contribution into a pension scheme (provident fund), medical cover, life cover, loss of license, etc. and a free lift to work everyday. Compared to my current position, similar to you, I am looking to spend a little extra on cost of living in Dubai but would still be saving around $2700pm on current outgoings, with the provident fund on top.

Typhoonpilot

Pay for the first full year will have about 3 months without flying pay and per diem. So it is probably around $80,000-$85,000. Second year should be closer to $90,000. If there is a bonus given then it will be more. The foreign earned income exclusion is just over $92,000 this year and will be $95,000ish next year. So that income is tax free. You'll have moving and set-up costs the first year so it probably won't be a great year for saving. Second year and beyond should be better.

Sounds like you won't have education expenses for the first year, but you'll need to get your kids into a nursery school at age 3 and then KG1 at age 4 followed by KG2 at age 5. For nursery school you can expect around 20,000 dirhams per child. KG1 at the American School of Dubai is 45,000 dirhams. KG2 and beyond is 70,000ish. Emirates only reimburse up to 40,000 for KG1 through grade 5. After grade 6 it gets closer to the 70,000 but you'll still be out of pocket. So when your kids are both in ASD you'll be out of pocket close to $20,000/year. For that reason many parents chose to go to other schools that have lower fees. The English and International schools have lower fees, but all three of the American schools are pretty close to ASD's fee structure. If your wife becomes a teacher then tuition is free or much lower cost. Not sure if that is an option, but some pilot wives are teachers. After school activities are expensive in Dubai so those fees would be on top of the tuition. Research the school fees on your own. The school websites are easy enough to Google. American School of Dubai. Dubai American Academy and Universal American School. You can also look at the GEMS schools in Dubai. It's a big for profit school company. School fees are probably going to be one of your biggest expenses.

Dubai can get expensive fast. There is no way to say how much you will save in a month or a year. It depends on too many factors. You could take the housing allowance and rent a small townhouse for well under the amount to pocket the difference, but you'd be sacrificing some QOL. You could buy a real expensive car or two and spend all your money on that plus eating out every night. You could take expensive vacations to the Maldives each year or just go camp in the Musandam. You could keep a house back in the USA to semi-commute to or you could sell everything and move over here lock, stock, and barrel. See what I mean?

You will save 17% of your base pay every month because you have to. There is the company's 12% contribution to the Provident Fund plus your mandatory 5%. So that makes at least $1000/month if you stay for the full 7 year vesting period.



Typhoonpilot

rotorhead1026

It isn't necessarily. Stay offshore for 330+ days, or establish residency, then there is an exclusion. There are pitfalls, too. Don't get financial advice here (that includes me ); find a good CPA. A lot of guys are hiding income. It's your choice, but the consequences of getting caught by IRS are ... draconian.

From what I've read the sandpit would be a sideways move for you initially - especially if you were going to send the kids to public school - but could really pay off in five years or so. Do the interview, let the wife see the desert, then make a decision. Hopefully you aren't upside down on the house.

boarderdw

Thanks for the info guys, especially Typhoon pilot. Real enlightening. I guess time will tell, but it still seems like a great opportunity. I know I will have a real hard time passing it up if I am offered the job. I am absolutely fed up with this mess in the US; not a career worth pursuing over here.