Hi all, I have quick question regarding salaries where you?re seconded to an overseas office. I was told that my salary would be the amount I was paid in sterling in the UK, but paid in the host country?s currency. It was set at the exchange rate at the time I started the secondment. Now, however, the exchange rate has increased in my favour - would you expect the salary to be re-pegged at the current exchange rate?
I?ve been told that it?s pegged at the average exchange rate for the previous 12 months. Which just so happens to be a lot less than now ? about a 5% difference.
They?ve said that it protects me against any drop as well (clearly if the rate had dropped I wouldn?t be pushing for my pay to be re-pegged). But equally I have financial commitments in the UK and it?s costing me more each month to buy sterling.
My contract states that my rate of pay will be that provided by their bank at the time of payment ? which to me means today?s exchange rate (clearly risky for me if it suddenly drops). Just want to know what the usual position is.
Thanks all!
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Salary / exchange rate change
10 replies
MrsDe · 16/07/2015 03:28
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