BENEFITS
Saudi Aramco offers highly competitive compensation and benefits packages. These packages are designed to attract and retain the technical skills, expertise and competencies from expatriates around the world. The long service of our employees is proof of the generosity of the overall packages provided by Saudi Aramco. The compensation employees receive consists of a base salary, plus over base payments/premiums designed to provide an incentive to accept and remain on an expatriate assignment. (Please note that different terms and conditions may apply to different contracts .)
Other Compensation Elements
In addition to the basic compensation described above, an employee's compensation and benefits package may also include :
Sign in Bonus
All employees recruited to fill positions designated by the Company as “critical-skills” are paid a sign-on bonus equal to 25% of annual base salary (or higher based on the Company's policies and the position offered).
Retirement, Savings and Insurance Plans
Depending on the specific payroll, the employee receives either a company funded retirement plan, a company matched savings plan and a range of insurance plan options, or an annual cash payment equal to 17% - 19% of annual base salary that allows the employee flexibility to make his own insurance and saving decisions, in addition to specific benefits provided by Saudi Aramco.
Severance Award
In accordance with Saudi labor law, a severance award is payable by the Company to employees who leave after two years, or more, satisfactory service. The severance award is based on length of continuous service and final pay. The severance award can be a substantial benefit for longer-service employees. For example, an employee with ten years of service would receive a severance award equal to 7.5 times monthly final pay. In the case of employees eligible for a Company-provided retirement/pension program, the lump-sum or annuity payment will be off-set by the Severance Award
Repatriation Allowance
All employees are paid on an annual basis, the travel costs from Saudi Arabia to their point-of-origin for the employee and for each eligible dependent residing in Saudi Arabia
Educational Assistance
In addition to local schooling options, the Company reimburses employees, up to established limits, to enrol their eligible dependents in private schools overseas. The age at which the dependent can enrol in an overseas private school varies according to the employee's contract. Also, the Education Assistance Program covers the cost of a specified number of trips from a private school location to Saudi Arabia . These travel costs are also covered for eligible dependents that are attending college
Specified Location Allowance
Saudi Aramco operates in various locations throughout Saudi Arabia . Should an employee be assigned to a work location that the Company specifies as a remote location, the employee will receive an allowance.
Overtime/Shift Premium
Should an employee be assigned to a location or function that requires scheduled overtime or non-standard work hours, additional compensation will be paid on a monthly basis.
Annual Vacation
Based on payroll and salary code, employees earn up to 38 calendar days vacation each year in addition to an extra two to four ‘travel days'
Company Holidays
In addition to annual vacation entitlements, employees are typically granted between nine and eleven days as paid holidays each year
Personal Effects Shipment
The Company pays for and arranges the shipment of personal effects from the employee's point of origin to Saudi Arabia , and returns them when employment in Saudi Arabia has ended. The employee also has the option of receiving a cash in lieu payment to allow him to make his own shipping arrangements or use the cash to purchase items in Saudi Arabia.