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Any idea on potential pay?

Discussion in 'Teaching abroad' started by rusmus, Sep 28, 2019.

  1. the hippo

    the hippo Lead commenter Community helper

    MsBuzy, the full and dreadful reality of the changes that have been made to the TPS have yet not made themselves felt. A gentleman will never comment on a lady's age, but those of us who have retired recently have escaped the tsunami that is going to wash away the TPS as we know it. Scrapping the lump sum and forcing teachers to work until they are 65: these are major changes. I suspect that they won't be the last ones either.
     
  2. dumbbells66

    dumbbells66 Lead commenter

    You also need to consider that if you are lucky enough to get into one of the good international schools, you can put more into your savings in 4 or 5 years than your average UK teacher manages to put into their pension in 30 years.

    I know which option i would take.
     
  3. letap

    letap Occasional commenter

    A 60 year old teacher retiring on £40000 after 30 years of teaching now would be on the final salary scheme and would have a pension of circa £15000 with a CPI increase each year - on current annuity rates that is circa £500000. On top of that there would be a lump sum of £45000.

    I would be grateful if you give us a clue as to which International School will allow you to make £100000 savings a year.
     
  4. dumbbells66

    dumbbells66 Lead commenter

    Between me and my wife we save over £135 000 a year. If we were more serious about saving it would be more.
     
  5. makhnovite

    makhnovite Established commenter

    Don't you know letap that the old dumbell is making a million pounds every seven years, he's told us - often! :rolleyes:
     
    towncryer and dumbbells66 like this.
  6. letap

    letap Occasional commenter

    I am assuming your role (and your wife's) are not comparable to the average teacher either UK based or Internationally based.
    I am no expert with regards to the International scene - however, I have seen no ordinary teaching role advertised at above £70000+ , which you and your wife must be easily clearing in terms of salary.
     
  7. dumbbells66

    dumbbells66 Lead commenter

    Think again. Bog standard teachers. Non profit IB school. And we arent even in the best paying school on our continent. Plenty of far higher paying schools out there. To be fair our out goings are tiny, basically due to having the school pay for pretty much everything.

    Join Search associates and look at their database for schools paying above £70 000 a year. Our starting salary is £69 000 take home a year.
     
  8. the hippo

    the hippo Lead commenter Community helper

    Yes, letap, the TPS is still pretty good, but (in the words of the song) the times they are a-changing. Soon you won't be able to retire at 60 and there won't be any lump sum. Oh yes, and some public schools are not going to stay in the TPS because the employer's contributions have gone up.
     
  9. letap

    letap Occasional commenter

    We are straying off topic here, but there are number of us who not anywhere near pension age (10+ years) but have a considerable final salary pension which we can take at 60 - there is as far as I know nothing in the pipeline to take this away ( bear in mind the government have lost a pension battle which is less controversial than stripping final salary pension rights from those who joined the scheme before 2007). The current career average scheme allows you to retire earlier at 60 - the benefits are reduced to around 70% of value you would get at NPA (67 for me). The accrual rate is very good at 1/57 of salary and after each year there is enhancement of CPI + 1.8% ( the 1.8% is added whilst you are in sevice). You can still convert some of your pension into a lump sum if you wish.
    You are correct in saying there is change a foot - the NPA is likely to increase - which has implications for the career average scheme. You are also correct in saying that private schools are withdrawing from the scheme, but your previous contributions would be protected.
    The teachers pension scheme is fantastic considering how awful returns are from annuities due to very low guilt/bond yields which are not likely to change.
     
  10. Jason_Bourne_

    Jason_Bourne_ Occasional commenter

    I think I know which schools he works in Africa. He's absolutely correct about the salary and saving potentials.
     
  11. ljf1aber

    ljf1aber New commenter

    Not to prove you wrong, but I can think of many.....UWCSEA; Tanglin; Patana; ESF; Kellett....the list goes on....unless these are Tier 3 schools?!
     
    yasf and Powergnome3 like this.
  12. the hippo

    the hippo Lead commenter Community helper

    "You can still convert some of your pension into a lump sum if you wish". Well, yes, you could do that, letap, but then that would reduce your monthly pension! (In the Good Old Days, you would get a lump sum AND your full pension.) And yes, letap, you could retire at 60, rather than at 65, and then you would see your monthly pension reduced even more.

    I wonder how many other new and nasty ways the mean-spirited UK government will devise for reducing and eroding the TPS.

    My point is this: the TPS used to be a good reason for teaching in the UK. Now it looks like a good reason for leaving asap and teaching overseas! Now this might not be so much the case for old fogeys like me, but I think that younger teachers are going to find that the once great and glorious TPS will be but a shadow of its former self.
     
  13. frogusmaximus

    frogusmaximus Occasional commenter

    Your pay will more than likely be what you are worth.

    Outside of Western Europe, the money will be higher than many other local workers and you will live comfortably with a higher standard of living than back home.

    If you are not happy with your remuneration you will apply for other posts that meet your requirements and leave at the end of your contract.
     
  14. aliali5208

    aliali5208 New commenter

    Following on from this once you have a job offer how do you go about negotiating your salary. Most of the contact is via email now and the salary was very briefly discussed in the interview which was very short.
     
  15. february31st

    february31st Established commenter

    In general its a take it or leave offer on pay and conditions. You can try to chance your arm and question the amount and see is the school comes back with a better offer, but it will not be a significant amount.

    But your description of the school interview process indicates this is not a top establishment. At least once you are on the active SA list you can see a general range of what the school and others in the same location offer.
     
  16. towncryer

    towncryer Lead commenter

    Also bear in mind that we're all on 24 hours notice in any international job....so plans to save a million in a few years (and I hope you do) can come quickly unravelled by political or even school changes.

    So a decent salary is great if you can get it...and while you do have it put away what you can while enjoying a comfortable lifestyle and some travel....but don't plan ahead too far ahead. It might not happen.
     
    the hippo and T0nyGT like this.
  17. the hippo

    the hippo Lead commenter Community helper

    towncryer makes a valid point, I think. A lot of the countries that pay the big bucks are not the most politically stable. That reminds me of an interview I had, I don't know how many years ago, for a certain school linked to the British Embassy in Tehran. I did not get the job, but about three months later all of my (would-be) colleagues had to leg it for the airport. The school was trashed by an angry mob.
     
    towncryer likes this.

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