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Discussion Starter · #1 ·
Hi all,

I am currently considering a position with a global organization (Big 4 firm) in Madrid. I am looking for information on the salary they offered and information on the cost of living in Madrid. I have no family nor friends living in Madrid, so any information would be highly appreciated.

Some background information on me: 26 year old and 3.5 years experience with a Big 4 firm. Current position: senior consultant tax, received high ratings during the 3.5 years.

The yearly salary offer they sent me is as follows:
Salary - EUR 40,000 in 14 payments
Health Insurance - 50% will be paid by employer
Vacation days - 27
Position - senior consultant tax
Allowances - none I was informed, except laptop/phone

Furthermore, I was informed that monthly net salary would be approx. EUR 2,050. Is this correct?

With respect to the above, I would highly appreciate knowing your opinion about the offer.

Furthermore, could anyone inform on the cost of living in Madrid, e.g. the monthly rent for a 1 or 2 bedroom apartment (furnished) in a neighborhood that you would recommend?

Hope to hear soon from you. Thank you so much!!
 

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That sounds like a very good salary for a 26 year old in Madrid, although I don't know the exact pay scales specific to your sector.

EUR 2,050 net per month sounds about right, assuming you'll get 14 of those payments a year.

27 days holiday is pretty good, especially since that will be on top of the 13 national holidays each year.

It might be worth inquiring what your base salary is since that's what's used to work out your state pension contributions, and it might be worth asking if they have an "horario de verano" (summer timetable where everyone works from say 8 to 3 each day).

You can get a decent flat for about €700/month. It depends on what type of area you want to live in (in the centre with lots going on, or further out where you'll find more space, near your work, etc)
 

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Discussion Starter · #3 ·
For that matter, I am almost 27 ;-).

Gross monthly payment would be approx 2,850 and that should be around net 2,050. Thanks for the confirmation. I did ask some questions about pension, pending a reply.

With respect to the flat, Eur 700 sounds decent. This is for a furnised 1 or 2 bedroom apartment? I am not sure where to live as I am not really familiar with Madrid, so that is something I have to find out. However, it does sounds nice to live in an area where things are going on.. I understand that the rent would be higher though.
 

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Chopera's question about base salary is very relevant because it has a big effect on contributions etc.

For example, your gross 2850 could quite easily be made up of a base salary of 1500, plus all kinds of other allowances such as "attendance allowance" "language plus" "cost of living allowance" and whatever else they can invent.

If you are made redundant, for example, your pay off would be calculated on the 1500 base salary, not the 2850 gross.

I too think that this salary is enough to live comfortably in a suburb of Madrid as a single person or in a couple.

Strange that they only pay 50% of health care though.
 

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That's quite unusual, but good if it is the case.

With respect to pensions, obviously I cannot speak for your company, but I also work for a large international company and they provide private pension schemes in almost all countries... except Spain. Similarly they offer shares incentives in most countries... except Spain.

You come to Spain for the quality of life, not for financial security!!
 
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