As many of you know, my wife and I are considering moving back / “early retirement” in Taiwan in 2024. I have not totally written off work however ( not at this point at least). I am curious if banking jobs (specifically AML Investigator /Fraud investigator type jobs for foreign banks) that require fluent Mandarin would have: 1) a decent salary, and/or 2) any sort of Expat package . As well, is there a difference if applying from overseas?
Most foreign banks do their AML or risk management out of Hong Kong and then they have an on-the-ground risk manager who is local and who speaks english, etc. (why hire foreigners for AML in Taiwan when a firm can pay a much lower the salary for a local hire?)
But, that’s not to say you cannot try for those jobs.
No, you will not get an expat package. Those are for really really really really high-up people in top management in Hong Kong. This ain’t the 80s or 90s.
You have 4 years. Start making some connections/contacts somehow.
What is your definition of decent salary?
I guess the problem is that I have been looking at jobs in Singapore recently, which have a $70-$100K (Singapore dollars) salary for a lot of the jobs I would be interested in. From my research so far though, it doesn’t seem like Singapore likes to hire from overseas much these days. I am not sure what the salary would be for the same jobs in Taiwan. Any idea?
Thanks for the information about the packages - I straight out had no idea what jobs get them these days.
Most who get packages like what you are thinking of are already with the company and established good performers. Or, headhunted from the outside and thus also well known. I would expect the salaries for similar jobs here to be quite a bit lower, but it’s not my industry. Of course you don’t have the rents Singapore has so you may actually come out ahead.
Yeah, I did the math and for my families’ standard of living, I could make around $20K less (US dollars) in Taiwan and be around the same.
Global economic cycle is about to head south so there’ll be more firing than hiring btw.
We will see. I have a defined benefits pension of about $30K CAN ( $60K NT/month or so) that I can take in 5 years. It allows some freedom in deciding; do I just coast (semi-retirement) and get some English teaching job for $40-70K NT / month, teaching 20 hours or so a week? Or do I try and get a related job in Asia somewhere? Both my wife and I do not want to stay where we are living (Winnipeg, Canada), for many reasons, so we are trying to figure something out - but sacrificing the pension by cutting out before the 5 years is up is out of the question.
Take an easy-cakewalk teaching gig in Taichung or Kaohsiung.
At NT$100,000+ per month (pension + teaching) you’ll be even saving money.
Do not go to Taipei. I think you’ve asked that previously. Repeat NOT TAIPEI. Might as well just hand over your wallet and lifetime savings up there.
@KHHville, don’t hold back on your opinion! Ha! I appreciate it. I know you are right, but at first we need access to Taipei City and all the things it has to offer. That could change in the next few years though, especially once our boy is an adult. We are pretty frugal overall, and hopefully we can save a bit still while living in New Taipei.
We will likely live in New Taipei City or whatever it is called these days. My wife has a business doing Pebble Art with driftwood, beach stones, etc., and needs easy access to the beach, so we will probably try living in Danshui at first.
Likely I will work in Taipei City, and live in New Taipei. I did the commute before, and didn’t really mind it. I just need to figure out what I will be doing. If I can manage the Gold Card Visa, it will definitely make things easier overall (especially with my wife’s business).
Tamshui is cheap. Lots of apartments there that are empty (either on sale or for rent). That’s probably the best choice if you have to live in the north and do not need to be near downtown, but have access to MRT to get downtown
Exactly our thoughts. When we were there this year we went up to Danshui to check it out, and it is exactly as you described : a lot of new developments with decent apartments for relatively cheap (and close to the beach). It has changed a fair bit in the last 10 years with more amenities,etc., so you are not completely in the boonies.
Most importantly, we will need access to the MRT to get our boy to the extra-curricular classes at TAS; we will likely homeschool him for the most part, with 2-3 evening classes at TAS and elsewhere for extra development. It is a bit inconvenient, for sure, but at least in Taiwan him taking the MRT by himself he won’t get stabbed or anything.
Don’t go living in Xinyi district and you will be fine. So many expats live there and rent is too expensive.
I don’t know but the current situation in HK might mean banking jobs may move to Taiwan…
Have you thought about being an FCPA or UKABA investigator? There is a huge demand for that in multinationals working in Greater China.
This is right up my alley. I will definitely look into this further. If you have any specific leads, feel free to PM me.
Please point me to easy-cake walk 100k ntd teaching jobs with pension. I’d happily settle for that over what I’m doing now.
At NT$100,000+ per month (pension + teaching)
It’s his pension (from Canada) + the teaching.
yeah, NT$100k gigs are like finding gold in California before the 49ers
AND a hearty welcome here. Do you perchance partake in the whiskey or toured its facilities in I-Lan?
Oh yes pension + salary I see. Yes I do in fact like the odd Kavalan. I have to sneak it in away from the wife. I have been to their distillery in I-lan
If you can afford Kavalan you must be doing alright.
When I used to fly Eva Air (before the strike; when their tickets were cheap), I’d take a lot of nips of their free Kavalan whiskey in their lounge.
They have the cheaper smaller bottles. But there’s nothing wrong with a 4-5k ntd bottle of whiskey once in a while. Everyone in Taiwan can afford that.
Got my conversion wrong again… i meant 2-3k ntd… 4-5k is steep!