Personally, I would negotiate for something more. You would probably be able to get by on it but I think that you will find that your monthly budget will be quite tight. I will be coming out to Dubai on my own and have been offered more!

In terms of education for your child, you also need to factor in that most of the time, the allowance offered will not be enough to cover schooling and you will have to make up the shortfall from your salary. Whilst food is not expensive, you will need to factor in school uniforms, books, leisure activities for both your wife and kid, possibly a car for your wife amongst other things (taxis might not be practicable in the long run). Will your wife be working or is intending to work? If she is, then it might make a really big difference! Are you intending to get a maid to help out with housework and childcare? If so, you also need to factor this in (salary + visa). You also need to factor in the cost of accommodation - paid upfront for a whole year + 5% deposit + 5% agent's fees!!! Look at bhomes.com for rental properties - very useful when you are budgeting! You could however get a loan to cover this from the bank or your employer might offer an interest free loan. Saying that, you would probably get by on your salary if you are not extravagant in your taste and spending habits but you have to be aware that there won't be much left over for savings!

If you can negotiate, then I would say try and get a bit more. Get a copy of Dubai Explorer as it will soon become your bible! There are some useful links in there about places to shop, accommodation, utilities, etc and that will give you an idea about the cost of living. Based on your research, you can budget properly and work out whether you will be able to maintain your current lifestyle.

Best of luck!!