Your international career has already built your CV.
It might be worth asking what else it could build.
If you’ve spent years working in international schools, you’ve probably become very good at starting again.
A new country. A new school. A new apartment. A new currency. A new bank account. A new contract.
That’s part of what makes an international education career so exciting. You can build an incredible professional network, experience different cultures and live in places that many people only ever visit.
But there is another side to being constantly on the move: it can be surprisingly easy to build an impressive career while putting off the question of what you’re building financially.
Whether you’ve been overseas for six months or fifteen years, it is worth taking time to think about how your international career could contribute to your longer-term financial goals. (Sign up to get a free financial health check)
Here are five questions worth asking.
1. What am I actually earning and spending?
It’s easy to compare international school salaries by looking at the headline figure.
But your salary is only one part of the picture.
Housing, flights, healthcare, school fees, tax, allowances, and the local cost of living can all significantly affect what you have available each month.
Two educators earning similar salaries could have completely different amounts left over after their regular expenses.
So rather than simply asking “How much do I earn?”, consider asking:
“How much could I realistically save or invest each month?”
That figure is much more useful when you’re thinking about your financial future.
It’s also worth looking at what happens to your spending when you move countries. A salary that gives you significant disposable income in one location may not stretch as far somewhere else.
Understanding your actual numbers is the starting point for making informed decisions about what comes next. (Sign up to get a free financial health check)
2. What is happening to my pension?
Pensions aren’t always straightforward when your career crosses borders.
You may have a pension from your home country, another arrangement from a previous international school and a new scheme through your current employer.
And if you’ve worked in several countries, it can become difficult to keep track of everything.
It’s worth understanding:
- What pension arrangements you already have
- Where your existing savings are held
- Whether you can continue contributing
- What happens when you leave a country
- What fees you’re paying
- What your options are for managing previous pensions
- Whether your current arrangements fit your longer-term plans
You don’t necessarily need to make changes every time you move.
But you should know what you have.
Your pension is part of your compensation, even if you don’t see that money in your monthly salary.
3. Am I saving with a purpose?
Saving money is important, but where you’re saving and what you’re saving for matters too.
International educators can have a particularly complicated financial setup. You might earn in one currency, spend in another and still have financial commitments in your home country.
Start by considering the different jobs your money needs to do.
You might need accessible savings for emergencies and unexpected travel. You might have medium-term goals such as buying a home. And you may also want to build longer-term investments for financial independence or retirement.
Keeping everything as cash isn’t necessarily the same as having a long-term investment strategy.
Equally, investing money you may need in the short term can create unnecessary risk.
The important thing is to understand what you’re saving for, when you’ll need it and what options are available to you. (Sign up to get a free financial health check)
4. What happens to my finances when I move countries?
This is one of the biggest differences between an international career and a career where you stay in one country.
Moving is normal.
But your financial plan needs to move with you.
Before relocating, it can be useful to consider what happens to your:
- Bank accounts
- Savings
- Investments
- Pension
- Tax residency
- Insurance
- Property
- Existing financial commitments
Currency is another consideration.
If you’re earning in Singapore dollars today, for example, but expect to return to the UK eventually, your long-term financial goals may involve more than one currency.
And if you own assets in your home country while living overseas, there may be tax and management considerations to understand.
The goal isn’t to make international life financially complicated. It’s to make sure that moving countries doesn’t mean starting from scratch financially every few years.
5. Am I using my international career to build assets, not just income?
This is perhaps the most important question.
An international education career can provide periods where you have a good earning capacity and, depending on where you live, potentially more disposable income than you might have at home.
What you do with that opportunity is up to you.
You could build cash savings. Increase pension contributions. Invest in financial markets. Or explore other assets, including property.
The key question is whether some of your income is helping you build something that can continue to contribute to your financial future, rather than simply being spent month to month.
Could property be part of the picture?
For some international educators, property can be one way of building a longer-term asset alongside their career.
That doesn’t necessarily mean buying a home in the country where you currently work.
If you’re moving every few years, buying locally may not make sense for your circumstances. Some international educators instead explore property in their home country or other markets, particularly where professional management makes it possible to invest without being physically present.
Of course, property isn’t right for everyone. There are costs, financing considerations, tax implications, market risks and the practical question of how a property will be managed while you’re overseas.
But it can be worth exploring as part of a broader financial strategy.
For international educators considering property, the ability to invest remotely can also be important. Professional management can mean that investors don’t necessarily need to be physically present to deal with tenants, maintenance and the day-to-day running of a property.
Property is just one potential option, alongside savings, pensions and other investments. The right approach will depend on individual circumstances, goals and risk tolerance. (Sign up to get a free financial health check)
Your career can be more than your salary
One of the great things about international education is the opportunity to build a life as well as a career.
You can live in different countries, experience different education systems, meet people from around the world and develop skills that stay with you wherever you go.
But your international years can also be an opportunity to build financially.
You don’t need to have everything figured out.
You don’t need to buy property.
You don’t need to invest every spare pound.
But it is worth asking yourself:
If I look back on my international education career in 10 years, what will I have built alongside my CV?
For some people, the answer will be a pension. For others, savings, investments, property or simply greater financial freedom and flexibility.
There is no single answer.
The important thing is to start thinking about the possibilities.
Want to understand your financial options?
If you’re an international educator and you’re not sure whether your current financial arrangements are working towards your longer-term goals, a free financial health check can be a useful place to start.
Thirlmere Deacon can help you review your current position and explore the different options available, from property and savings to other investment opportunities.
The financial health check is free, and there is no obligation to invest.
Melanie Johnson
Associate Director, Thirlmere Deacon
👉 Message me on WhatsApp
✉️ Email me
🔗 Connect with me on LinkedIn
You can also quote “FREECHECKISC” to Melanie to get your free financial health check-up via the contact links above. No pressure. Just a chance to look at your current position and explore what options might be available to you.
Your international career has already built your CV.
It might be worth asking what else it could build!
(Check Melanie’s previous article on the ISC blog titled “Is Your International School Pension Enough? 5 Ways to Build for Your Future”)
