Hello everyone,
Better job prospects in Dominican Republic can most certainly be an incentive to leave your country of origin. Securing a contract with the right salary and benefits for you can be crucial to make your move successful.
Is salary and benefits negotiation regarded as common practice in Dominican Republic? If yes, how should you go about negotiating your package (during the hiring process, on a monthly/yearly basis...)?
What do you expect to be included in terms of benefits in your package? Which benefits do you deem necessary in Dominican Republic?
Is tax on the salary of an expat applicable in Dominican Republic or do you have to turn to tax bodies in your country of origin to pay your taxes?
Do the exchange rates of currencies impact your salary as an expat?
Looking back, are there some changes you would have made during the negotiation of your salary and benefits package?
Thank you for sharing your experience,
Bhavna
Negotiating salary and benefits in Dominican Republic
Wow interesting but doesn't really apply here.
Jobs here are fundamentally lower paying then many many places.
There are a few exceptions but not many. People do not move here to better their job expectations. They move to make lifestyle choices.
The law here is territorial so yes you pay taxes here regardless if what your home country does.
Benefits are required by law, for example vacation days are mandatory after 1 year.
Salaries are negotiated in American dollars whenever possible.
What has been your experience here Bhavna?
Bhavna works for expat honey. The post is meant to stimulate conversations
In my opinion, Expatriates coming to live in the DR without a source of continuous fixed monthly income are taking a risk that I would not prefer to take. Starting a business that is dependent on an income generated from the local population is also as risky , as profit gains may be considerably decent in Peso value but low against the Euro or Dollar equivalent. If your business is created for tourism and your clientele is marketed in the US or Europe and or you operate under foreign contract agreements. Then you can negotiate prices, payment for services and even be paid into a foreign bank. Thus leaving a management company to facilitate your company in performing certain tasks within the DR on your behalf that will take the liability off you as an individual. Buy property as a company not as an individual. Make a customized contract for certain specific areas of your business.
If you have to get a job, you need to speak the native language fluently. Your qualifications should be well beyond the minimum requirements in experience and you must be of an even temperament and outlook. Not intimidating or aggressive, low key but effective and efficient keeping in mind you are an expatriate. Salary negotiation that are locally based will be lower than Europe and the USA, so again on my opinion one should have another source of fixed income from abroad to supplement any local income earned as an employee as opposed to being an owner operator of a business which pays into a foreign bank or local banking system where you can access that money regularly.
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