Hey guys, since most of you work in Lebanon and surely have plans for their future, what do you think is the average salary of graduates in Lebanon? How much should you really earn in order to be able to get a house for example? To get married for example? Do you find it hard to save money in order to be able to start your life? Do you think those 200K + $ houses are easy to afford?
Average salary to start your life in Lebanon
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To afford paying for a house loan, setup a family and pay all your expenses such as food, education, electricity, clothing you need at least around $3000 a month. This is a rough figure of how much you need in order to break even every month. Might vary from person to person or family to family but I think the average lies there.
That's just a rough estimate as I do not have a family to spend money on nor do I have a house loan so insight from someone who is into that would be much better.
Any graduate in Lebanon would never ever dream of such a salary just after graduating from university without proper prior experience. Even with years of experience, it might take up to 5 or 6 years to reach it. By then the amount might be more than today due to the expected decrease in purchasing power and inflation. But what really matters is the value that you are getting, which is based on your purchasing power.
Some careers might be an exception, like doctors (I guess?).
P.S. Average salary of a graduate differs from one career to another, you have to a bit more specific.
That's just a rough estimate as I do not have a family to spend money on nor do I have a house loan so insight from someone who is into that would be much better.
Any graduate in Lebanon would never ever dream of such a salary just after graduating from university without proper prior experience. Even with years of experience, it might take up to 5 or 6 years to reach it. By then the amount might be more than today due to the expected decrease in purchasing power and inflation. But what really matters is the value that you are getting, which is based on your purchasing power.
Some careers might be an exception, like doctors (I guess?).
P.S. Average salary of a graduate differs from one career to another, you have to a bit more specific.
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Accommodation + food should cost around $800
Going out and what not should cost an extra $300 easily.
After you graduate expect to be payed around $800 initially. Unless your an engineer than its around $1200.
Make the calculate, getting a house is an impossible dream. Unless your wife has a decent job as well, then its possible. Note I say possible and not easy.
Going out and what not should cost an extra $300 easily.
After you graduate expect to be payed around $800 initially. Unless your an engineer than its around $1200.
Make the calculate, getting a house is an impossible dream. Unless your wife has a decent job as well, then its possible. Note I say possible and not easy.
But what is suggested ? Enno, even if you are a programmer, engineer, graphic designer, bank employee, how would you build your future if you are planning to stay here ?
What plans, what future?Locha wrote...surely have plans for their future
Unless your parents planned it since you were born, unfortunately like the others said, you will stumble upon the words "impossible" and "dream" very often. 800$ and 1200$ are pretty good starters salary, if you are lucky, I know graduates accepting a 600$ salary for an obvious reason.
As for house loans, it's indeed impossible if your wife does not have a decent job, like rtp pointed. Even then, the bank might not accept your application, getting a loan is not an easy task but a very complicated process. Especially if you are on a free profession(lawyer, dentist..).
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Who said anything about staying here.Locha wroteBut what is suggested ? Enno, even if you are a programmer, engineer, graphic designer, bank employee, how would you build your future if you are planning to stay here ?
The only possible thing to do, is to go to a gulf country and make some money and come back. Other than that its not possible to buy a house and start a family.
What do you mean "engineer"? Would a bachelor of engeneering be enough?rtp wroteAccommodation + food should cost around $800
Going out and what not should cost an extra $300 easily.
After you graduate expect to be payed around $800 initially. Unless your an engineer than its around $1200.
Make the calculate, getting a house is an impossible dream. Unless your wife has a decent job as well, then its possible. Note I say possible and not easy.
Otherwise, I'd say $800 is about an average starting salary (fresh out of college) for IT, programming, etc in Lebanon. It's a bit on the low side.
I agree, thats what i am planning to do....rtp wroteWho said anything about staying hereLocha wroteBut what is suggested ? Enno, even if you are a programmer, engineer, graphic designer, bank employee, how would you build your future if you are planning to stay here ?
The only possible thing to do, is to go to a gulf country and make some money and come back. Other than that its not possible to buy a house and start a family.
i have been working for 3 years almost, and its super hard to get a house.
@rolf, mechanical, electrical, civil should start at around $1200.
Am talking about average here, of course there are exceptions.
@ironman, same boat. I have been working for 3 years and am thinking of ditching Lebanon. My primary reason to dtich Lebanon isn't the expensive living, but the people, security, corruption etc... sadly, the only country i can possibly immigrate to is Canada. So most likely am stuck here
Am talking about average here, of course there are exceptions.
@ironman, same boat. I have been working for 3 years and am thinking of ditching Lebanon. My primary reason to dtich Lebanon isn't the expensive living, but the people, security, corruption etc... sadly, the only country i can possibly immigrate to is Canada. So most likely am stuck here
@rolf, I mean computer and communications engineering. I've been teaching in a school for the last 4 years but am graduating this year with an M.S in Computer & Communications Engineering which will let me get the Bachelor of Engineering Degree since I followed the system that let you have your B.S in 3 years but will take you almost 4 years and M.S in 2 years.
If I want to switch to a position in my field, how much should I expect ?
If I want to switch to a position in my field, how much should I expect ?
Maybe it's better not to have any expectations... try to find something that suits you!
Hi Locha, you need to make it work with whatever you have.
These days, you cannot expect to get a house and pay for everything by yourself. People who get 300k+ houses are usually 37 years or older. Enough time to save, to do a business, or buy a cheaper house and sell it.
In Lebanon, The calculations above are good, you would expect 800-1000$ in your first year, then you would start moving, till 2000$ in around 3 years. Above that, you would need to move into a lot of companies and positions and you would be making 3000$ in around 5 years.
By that time you would be I guess 27-28, have a small amount saved and you could afford a small house of 100-120m2, and your partner would be making 1000-2000 which his enough to survive and have a family of 1 or 2 children (unless you take too much personal loans :) ).
By the age of 30-33 you should be more established and start planning your future more carefully, saving money for you child(ren) and taking wise career decisions so if you are in software dev., design, etc. you should be making 4-6k by that time (I expect you are good in what you do, other wise you ll be stuck @ the 2k max. for the rest of your life).
So by 37-40 you would get that 300k+ house :)
Anyways, do not expect to get that house as soon as you start working. You will be broke most of the time,
These days, you cannot expect to get a house and pay for everything by yourself. People who get 300k+ houses are usually 37 years or older. Enough time to save, to do a business, or buy a cheaper house and sell it.
In Lebanon, The calculations above are good, you would expect 800-1000$ in your first year, then you would start moving, till 2000$ in around 3 years. Above that, you would need to move into a lot of companies and positions and you would be making 3000$ in around 5 years.
By that time you would be I guess 27-28, have a small amount saved and you could afford a small house of 100-120m2, and your partner would be making 1000-2000 which his enough to survive and have a family of 1 or 2 children (unless you take too much personal loans :) ).
By the age of 30-33 you should be more established and start planning your future more carefully, saving money for you child(ren) and taking wise career decisions so if you are in software dev., design, etc. you should be making 4-6k by that time (I expect you are good in what you do, other wise you ll be stuck @ the 2k max. for the rest of your life).
So by 37-40 you would get that 300k+ house :)
Anyways, do not expect to get that house as soon as you start working. You will be broke most of the time,
@jsaade wow man you just made our lives easier, I wish things happen like in your case (I am assuming) or the way you wrote for everyone...
It is not an exact science, shit happens, but it is one of those paths. What I meant, is that you should not worry about getting a 300k house while you have just graduated. Most probably, you could not afford it in the next 15 years of your life, just plan to have a good career.NuclearVision wrote@jsaade wow man you just made our lives easier, I wish things happen like in your case (I am assuming) or the way you wrote for everyone...
@jsaade I know you are trying to help here, but too many promises could end badly and could eventually drive a student to eliminate other options he might have considered :)
Something to consider: House prices are inflated because your peers (or people who were in your shoes) decided to leave the country, get more money, and then get back here in Lebanon to settle.
You're at a disadvantage just by staying here.
You're at a disadvantage just by staying here.
As an expat in Lebanon working for a Lebanese company, I found its always best to start locally, but to grow in salary its best to move abroad for a few years, this would allow you save enough money to get married and arrange a down payment for your own place. But most importantly it will allow you to ask for better salary once you decide to move back.
Some other points to consider: http://en.wikipedia.org/wiki/Lebanese_housing_bubble
arithma wroteSomething to consider: House prices are inflated because your peers (or people who were in your shoes) decided to leave the country, get more money, and then get back here in Lebanon to settle.
You're at a disadvantage just by staying here.
Samer, that's a very poorly written Wikipedia page. It makes claims it doesn't back up, it shows random number, it gives opinions rather than facts and it even contradicts itself on a few occasions.
Terrible article that spreads FUD and speculation more than anything else.
Terrible article that spreads FUD and speculation more than anything else.
From the first paragraph:rahmu wroteSamer, that's a very poorly written Wikipedia page. It makes claims it doesn't back up, it shows random number, it gives opinions rather than facts and it even contradicts itself on a few occasions.
Terrible article that spreads FUD and speculation more than anything else.
Doesn't sound that terrible to me.property prices have risen exponentially since 2005 (an average 5-fold increase as of February 2010), while the GDP has risen only around 52% during the same period
Okay, these are unbacked numbers.
I disagree with you, but I have to concede that you have a point.