Tailored reports of expat costs help determine income levels

Expats looking to find a well-salaried position overseas may find the reality of costs abroad very different from their optimistic expectations.

Migration seems to be the buzzword for the beginning years of the 21st century, with more people than ever before heading for unfamiliar destinations and the challenge of new jobs at a higher salary. However, unless careful research into all aspects of lifestyle costs is undertaken, living the dream overseas may turn into a nightmare.

Number-crunching is tricky, wherever you’re heading, with conflicting surveys and forum blogs giving no real idea of the actual cost of living. Many soon to be expats wrestling with cost forecasts as set against a new salary may forget to include trips back to the home country as well as the obligatory socialising associated with a new job.

For those who aren’t in ‘wait and see’ mode, a new website utilises statistics and reports from the Economist Intelligence Unit to forecast everything from basics such as bread, milk and breakfast to apartment rentals and utility bills. Calculated costs are set to help potential expats work out if their salary is enough to cover their needs and leave a little over for their wants.

Salaryexpectation.com is the brainchild of a Nigerian expat human resources professional, Kesiena Ogefere, now living in London and convinced that the service will help would-be expats decide whether to accept or refuse a job based on the salary offered. While researching for her idea, she discovered that most of her interviewees had no idea of the true cost of living in their potential destination.

Several, she said, soon realised they could not manage on their seemingly adequate salary and were forced to move back to their home country. Customers for the US$50 reports number about 100 since the website was launched this summer, with most applicants planning to migrate to Australia, the US, Spain and India.