Friday, November 17, 2006

social drinking to success

Met with Boss at Big Company today. Actually had several meetings. Great guy - one of the reasons I joined big company.

Boss drinks. Never gets fat, nor drinkers nose, but does drink. Mr. makingourway has been joining him for drinks almost every day or every other day.

It's amazing what things people talk about over drinks after work. Boss and Mr. makingourway talked about the business, our division, where things are going, it's plans, his plans and his plans for Mr. makingourway.

Mr. makingourway's secret dream is to help turn around european operations and live there for a while. Boss shares the same dream - we discussed it. Maybe in 2-3 years Boss and management team will move to Europe. Plan is to breakthough revenue this year (on track), double revenue next year and double following year, then we can write our ticket.

Would be lots of fun.

Think of it financially:

  1. Big pay increase to incent us to leave USA
  2. Chance to master a foreign tongue
  3. Expatriot tax credit (first $80k)
  4. Weekend trips = European vacation
  5. Eating at foreign restuarants all the time
  6. Corporate expatriot housing and expenses
  7. Children get to learn a foreign language

Disadvantages:

Less efficient bill payment. Less convenient shopping hours. Can't ask for help in the native tongue until you learn it. No US sports. Limited # of television channels. Opportunity to learn how much the French really hate Americans.

Still it's a dream. I have quite a few French Friends and I like French Fries, so maybe it won't be so bad. Besides, all French businessmen have French mistresses hmmm.... maybe that wouldn't be such a good thing...divorce, financial ruin, destitution and personal loneliness. Oh, well.

So what would you prefer, live and work in America or live and work overseas?

Regards,

makingourway

7 comments:

2million said...

Wow - Europe. Im lining up my next project at work on a similar vein; I hope to be on assignment in Chinda next year, though still not finalized.

Can't beat a lot of the incentives that come with lucrative oversea assignments if you can pull them off.

Clearly a great way to build wealth, but the impact to a young family such as yours may be more difficult.

makingourway said...

Great points. Good luck on the overseas posting yourself.
I think my kids might enjoy learning a foreign language and leaving over there. I don't think the impact on children would be negative.
Then again, if there were older, I'd be desparately afraid for my daughter's chastity, but then again, they're very young.
Regards,
makingouway

Flexo said...

It sounds like a great opportunity, not just career and money-wise, but cultural and personal. I hope it works out for you... good luck... and I hope you'll keep on blogging if you end up in Europe...

The Sarcasticynic said...

Might as well go where the jobs are. I hear India is hiring.

http://sarcasticynic.blogspot.com/2005/09/offshoring.html

Anonymous said...

I think you'll have to pay French taxes - which on labor are quite high (but low on capital gains). Then you have to submit your US tax return. Probably your French tax liability will wipe out your US one... But need to face two bureaucracies. But maybe I'm wrong and somehow you can avoid French tax.

I think this expatriat credit works well if you go to a low tax destination like HK.

As an Australian and British citizen I am lucky that those countries aren't interested in taxing their citizens who live out of country. The US is very peculiar in this respect. When I heard about the low CGT in France I am thinking that it could be a good retirement destination or location for a stock trade - trade US markets in the afternoon and evening. I can speak some basic French and read it significantly better. In a couple of years I'd be fluent I think when exposed to the language daily.

makingourway said...

oops, i should clarify that the idea of expat work in europe is purely hypothetical and "dream" shared with my boss.
We have to doube our division's numbers two years in a row in order to build the political capital to make it happen.
Let's assume this is in the "one day" category, but I'll do my damndest to make it happen and our revenue goals are certainly achieveable.
regards,
makingourway

OwtoBahn said...

There are new limits for the housing expenses in expat situations.

See for example http://www.iht.com/articles/2006/05/25/business/tax.php