High paying jobs in TT

[eliteauto]

and here i washin car for $5 all dis time ?

if you doing a good job and willing to wash for that price I'll hire you on contract with a minimum 40 washes a month

[AbstractPoetic]

Ok tuners....need some advice....have a friend living in the US considering returning to TT because of all the economic uncertainties there. He has a 1st degree from Penn State and MBA from Wharton's in the area of finance and about 3 yrs work experience.

Now I'm not aware of this sector in TT but I told him I don't think the financial sector pays too well here, given that he's currently making about U$75000 per year which is not much in NY. I suggested that to live comfortable here in TT...afford a house, car, savings, have money for vacations etc., he's looking at approx TT$50,000 per month. Is this realistic???

My significant other who is in the same sector was looking at a salary of ~250k with less than 5 years experience in his field whilst in TT.

That came with perks like fuel allowance, entertainment allowance, a company car, company cell phone and the like. On that salary he was able to buy property, land, 4x4 vehicles and live a very comfortable lifestyle.

Of course that was 5 years ago and cost of living has increased but income tax is less than it was 5 years ago.

With the right contacts and connections your friend should be looking at a similar salary or something close to it.

I suggest he takes the advice of those in the field and not the advice of many folks who have not a clue what they speak about (including quite a few in this thread).

[Rooki3]

250k

what a month?
or a year?

[Redman]

AP,
Thats true, keep in mind that the business here is in a mess and there is excess supply of people doing the same thing as he did.
So it may be tough to get some one to commit to that with business being what it is..


Later

[Maserati]

250k

what a month?
or a year?

got to be a year!

[AbstractPoetic]

Your friend should give his resume to a head hunter with the type of job he is looking at.

But one can make that in commissions so if he want to hustle he can.

But the same reasons he wants to move has caused that sector to get real tough-so he has to come good.

The man can do well if he accepts 15-20 000.

Thats enough to get what he needs and build.

The local financial sector does not have the scale to offer that SALARY to a mid level employee.
The numbers not there.

Later

Same thing my significant other stated. He's definitely looking at a salary of at least 15k.month, outside of the perks.

A very sweet deal within the context of TT.

[Rooki3]

Maserati, thats what i'm thinkin

[AbstractPoetic]

250k

what a month?
or a year?

a year, of course.

Though, something like 250kTT/month is definitely attainable with senior experience, though, you will more than likely be looking at places like TCI, Caymans, Bermuda, Jersey, Channel Islands etc. .

There are quite a number of Trinidadian nationals working in such territories. Their lives are beyond sweet.

[Rooki3]

250kTT/month

dais Calder hart

[foss]

^ bye

[acesinghit]

$4000 rent/mortgage
$3000 car installment
$1000 gas
$1500 other expenses
$2000 groceries/food/supplies
$1000 pension-annuity/major medical insurance
$1500 bills - wasa, t&tec, phones, cable, internet
$4000 income tax, health surcharge, nis, group health, club, association
$3000 saving, unit trust, stocks, credit union
----------
$21000. TOTAL
----------

In order to realise the 4k figure above, he must have a registered pension plan with the BIR to lower his taxes. I don't think he will be able to qualify for a loan just yet as he has to build a proper banking/saving history in T&T first so most likely he will be renting. The car installment figure is all things being equal or a lease. If not able to attain this then this figure will be reduced if he has to travel or opts to purchase a vehicle cash.

With his qualifications thus far I think he can make around $15,000. for starters. He will just have to cut-back on a few things accordingly but he would be able to manage just fine. I say after 2 years of prudent saving and sticking with 1 employer, he should be fine where loans are concerned for house, car and a credit card. He can start a Credit Union a/c ASAP since their requirements is not as strict as the bank and after 6 months he can apply for credit (depends on a/c balance).

He is not going to start sparking as soon as he arrives and lands a job but I can assure you after 2 years with prudent money management, his business fix.

[AbstractPoetic]

AP,
Thats true, keep in mind that the business here is in a mess and there is excess supply of people doing the same thing as he did.
So it may be tough to get some one to commit to that with business being what it is..


Later

True. My SO isn't all too certain it will be getting any better, either. But I believe those with significant experience, yourself included, have much more of a cushion than those just starting out.

[AbstractPoetic]

$4000 rent/mortgage
$3000 car installment
$1000 gas
$1500 other expenses
$2000 groceries/food/supplies
$1000 pension-annuity/major medical insurance
$1500 bills - wasa, t&tec, phones, cable, internet
$4000 income tax, health surcharge, nis, group health, club, association
$3000 saving, unit trust, stocks, credit union
----------
$21000. TOTAL
----------

In order to realise the 4k figure above, he must have a registered pension plan with the BIR to lower his taxes. I don't think he will be able to qualify for a loan just yet as he has to build a proper banking/saving history in T&T first so most likely he will be renting. The car installment figure is all things being equal or a lease. If not able to attain this then this figure will be reduced if he has to travel or opts to purchase a vehicle cash.

With his qualifications thus far I think he can make around $15,000. for starters. He will just have to cut-back on a few things accordingly but he would be able to manage just fine. I say after 2 years of prudent saving and sticking with 1 employer, he should be fine where loans are concerned for house, car and a credit card. He can start a Credit Union a/c ASAP since their requirements is not as strict as the bank and after 6 months he can apply for credit (depends on a/c balance).

He is not going to start sparking as soon as he arrives and lands a job but I can assure you after 2 years with prudent money management, his business fix.

Agreed, but keep in mind many of the figures you have tallied are often times expenses covered by the employer. Not sure if more companies are cutting back on compensation packages as of late.

[ek4ever]

^^ thanks for all the helpful info.....U$75000/yr sounds like alot but not in NY plus he has student loans to pay which he was trying to get rid of and I suspect credit card debt, etc.....don't know details of his finance...and everyone has a different reason for wanting to come back home. I suspect that once he understands what's available in TT he'll either stay in US or look at somewhere else.

Again thanks for the info

[gunsmoke]

wat d skin-open stinking fawwking mudders kant i hearing here.

[buzz]

and here i washin car for $5 all dis time ?

if you doing a good job and willing to wash for that price I'll hire you on contract with a minimum 40 washes a month

41

and allowance for 1 cigarette a month

[acesinghit]

ek4ever, what makes it even harder is that when you starting off fresh in a new country try not to start off in a minus since he has existing loans to pay. I think with proper career and financial guidance, he should handle his stories while in the US b4 making such a big step.

[AbstractPoetic]

^^ thanks for all the helpful info.....U$75000/yr sounds like alot but not in NY plus he has student loans to pay which he was trying to get rid of and I suspect credit card debt, etc.....don't know details of his finance...and everyone has a different reason for wanting to come back home. I suspect that once he understands what's available in TT he'll either stay in US or look at somewhere else.

Again thanks for the info

I was very surprised of his salary given his quality of education. A Wharton degree opens major doors and associates often start with at least a mid-six figure salary (outside of bonuses).

If I was him I'd pay off those student loans and any liabilities he has in the USA before considering a move. Student debt in this country is no joke.

But please relay that with his experience he's definitely looking at a decent salary to start by Trinidad & Tobago standards. The good thing is he is not only limited to TT markets.

[Country_Bookie]

and here i washin car for $5 all dis time ?

Yuh does wuk by appointment or ah cud just pull up by yuh block?

[VW_Exec]

3 years post grad experience might as well be no experience in the financial service sector.

Relevant experience and direct contribution evidenced by 5-7 years min in credible/prominent financial institutions will probably get you to the interview for salary ranges of TT$12K-$15K monthly. It's scaled upward with add-ons such as degree level, specialized experience, etc.

For a fact, TT$30K+ range is reserved for Investment Bankers who themselves have 'high-risk' employment terms because if they don't hit their numbers, they're out.

I think your friend should only return to T'dad or region if he is prepared to literally re-build his market credibility and relevance from an entry-level professional position (Business Analyst, etc.) as no major institution is going to risk their front-line corporate or investment positions without demonstrated 'on-the-ground' experience.

cost of living being high or not, it's simply up to him to adjust his own expectation levels (smaller car, smaller apartment, no TGIF) as opposed to a prospective employer paying him to maintain his current levels.

[mediahouse]

tell him go guyana he go get more dan 50K .. be realistic man

[ek4ever]

^^ Well you know when one gets used to a lifestyle they just want better....the Wharton degree is top class but the financial sector is still recovering so maybe firms are not going to hire as well as they used to or just simply cutting back....and then maybe it's his limited work experience....if it were 5 years at Morgan Stanley or Ameriprise Financial that might make a difference.....I guess it takes a long time to become a bank branch manager

[ek4ever]

tell him go guyana he go get more dan 50K .. be realistic man

Alright....forget the $50K ... i was just throwing out a figure....like it don't have people making that in Trini??

[VJTEK]

Alright....forget the $50K ... i was just throwing out a figure....like it don't have people making that in Trini??

Yes they do.

[blizZard]

i kno ppl working in the bank...who have more yrs experience together with acca and an mba....making around 9k - 12k

[ek4ever]

^^ Well forget TnT then...

[AbstractPoetic]

i kno ppl working in the bank...who have more yrs experience together with acca and an mba....making around 9k - 12k

1. That depends on where/what type of work experience

2. That depends on where/what type of MBA.


International experience almost always trumps local experience and there is simply no comparison between an MBA for Arthur Lok/Henley/Anglia Ruskin to an MBA from Wharton, Harvard or Stanford business schools. Not that I am discrediting the quality of local education but if entering the field at an entry level, names matter.

[d spike]

250kTT/month

dais Calder hart

Yuh boy could try he hand in agriculture...
it have dat kinda money dey...

[pugboy]

a lot depends on the company he targeting
some companies known for jumping to hire people with plenty paper behind their name
naturally only big name companies have budget to pay like that

[Halfbreed07]

i making 250k and i eh even have meh Bsc. yet....
minimal perks though, finance is boo, EPCM companies is wey d easy money at, ask Crossdrilled, not so Mc-Bhagan?