According to findings from the ECA International ‘My Expatriate Market Pay Report’, the average cost of an expat pay package for middle managers in the UK equates to more than $390 000 a year.
Mark Harrison, Manager of Remuneration Services at ECA International, said: "The total cost of expatriate packages in the UK, in US dollars, has fallen by nine per cent in the past year. This is mainly due to a weakened pound against the US dollar making the UK comparatively cheaper. But typical middle manager expatriate salaries also fell in local currency, down £1,500 in the past year. Depending on how a package is put together, the cost of providing benefits can be considerable, even dwarfing the cash salary element. This is the case for the UK as well as Hong Kong and the United States. However, while the tax component of the package is small in Hong Kong, it has a huge impact on overall costs when relocating someone to the UK.”