Norway/Moving to stavanger to work
QUESTION: Hi , I am in middle of deciding for a job offer in Stavanger Norway , and found this to be good forum to answer my queries before i accept it. I am an Project engineer with 7 years of experience multinational, from Angola currently living in Angola:
1) I have an offer that say 560k NOK salary plus other internal benefits or bonus . Is this enough for sustaining family of 2 with a kid of 2 years.I have read that Stavanger is the 4th most expensive city in the world to live in .
2) What would be my monthly salary considering the high taxes and what is the expense of living for me , wife and the kid. Can you give me the break-up of the expenses.
3) Can i hope to save some monthly cash in this salary. If yes, about how much.
The answers could help me decide on my next career move wisely.
Many thanks in advance.
ANSWER: 1) You can support your family, just don't imagine you'll be a high roller. If you keep your costs down, there is nothing stopping you from living comfortably at this pay level. Just don't expect to drive new cars, have a big house in the most attractive area of town etc. The average pay for a bachelor degree with some years experience in norway is about 450k NOK/Year.
2) 560K/12 months = 47K/Month. And you'll be paying about 28% taxes.
But taxes include free healthcare, free schools, free universities etc. So all in all the tax burden on families isn't particularily high.
3) That all depends on you. But if you want to keep up with the normal spending level in norway you'll probably spend most of it. You should however try to buy an appartment or a house with a mortgage. That way your mortgage payments will be a way to save up money for when you sell your appartment/house. This is how most people do it here. Interest payments are tax deductible, so buying a place is generally a good way to save up.
Have a look at the standard budget for living in norway:
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QUESTION: dear Roy thanks for your answer it was very clear, but just have another query:
1. The plan is to spend two or three years in norway and then the company will transfer me to work in my home country or near by country. is renting an apartment a wise idea? Considering that my family might stay in our home country and just visit from time to time?
2. Will this option give chance to save some money? Considering that i will be on a project and most of the time will be travelling to project locations?
3. i have two offers one here in my country with an american company and this one with statoil and need to decide, my purpose is to have a good career and provide the life for my family. Could you please help i have one week to decide.
1) Probably not. But that depends on what you can find on the rental market. Renting is expensive, compared to owning. But for a short time stay as you predict, it may be no more expensive than buying and selling an appartment.
2) What do I know. It all depens on your ability to live on the cheap.
3) Only you can decide. But the working life, vacation, benefits and working hours are generally much better in norway. Even if the pay may not be that much higher, you will probably have a better life here.