We believe that long-term win-win relationships can only be built with transparency, our model is open, our fees our public, and your salary is something that you can discuss at any time with the hiring company.
Keeping the relationship open and honest is our focus.
This bonus depends directly on the exchange rate per market representative rate (MRT or TRM) and your salary.
What we do so you can get the USD benefits of a contractor and at the same time also have a labor contract with all the local benefits and stability, is to make your labor contract with a lower exchange rate, and pay you the difference as a bonus with the bank real exchange rate.
We use 2 different lower stable exchange rates, which we could change if the exchange rates keeps increasing
Integral Salary Contracts TRM: $3600
Nominal Contracts TRM: $3600
You will have an integral salary contract if your salary is more than $3650 USD
We use the salary cost to calculate the bonuses and the salary cost is what the hiring-company pays us to cover your salary, benefits and government costs.
Example:
Therefore, if you have an integral salary of $4000 USD, the salary cost is $4957 and this is the base that we use
If we get paid by the bank the exchange rate at $4500 you will earn:
Base Salary: ($4000 USD * $3600) - Your health and pension deductions= $13,492,800.00 COP
Exchange rate bonus: ($4500-$3600) * $4957 = $4,461,554.40 COP
TOTAL PAID= $17,954,354.40 MINUS YOUR INCOME TAX WITHHOLDING.
*Income tax withholding is individual and depends on many factors like having dependents, AFC accounts and other things that we can advise you on.
*If the bonus is more than 40% of your earnings we have to make health and pensions deductions from it, this will happen when the exchange rate is above $4900.
Get in touch with us, and we can make specific individual salary projections.
All the collaborators who are hired through BetterWay with a labor contract are offered:
Other perks like certifications that depend on the Hiring-Company.
Usually a laptop and a second monitor is assigned.
The essence of our model is to offer Long-term labor contracts, for collaborators to have financial and local stability, our unique model is a mix between contractor and labor contract so that you get the best of both worlds.
However, we have cases of contracts through the Contractor modality which are paid directly from our US entity in USD, we understand everybody is different and can prefer the contractor model.
If you are a digital nomad and are residing most of the time outside or Colombia or you have other reasons to be a contractor, please let us know that this is your preference.
It is important to remember that being a contractor even if you are paid directly on a US bank account still makes you responsible to pay income tax in Colombia and you should make monthly savings to cover this expense.
You are also responsible for paying health and pension based on your real total income.
We look for companies that want to establish long term relationships, strong companies that are looking to hire in South America for the long term.
When we present you to the position you will get to know the company, their culture, and you will have the opportunity to ask them about their future and plans.
All of our positions are indefinite long term and only in some specific cases we help the hiring-companies with part-time or six months contracts.
That said, we can't control the market or the hiring-company and there are cases when the market goes south that the hiring-company has to let you go, this is not usual, but it is always a scenario with any job you take.
Important to note:
*Hiring-Companies have to notify us with at least 15 days when they want to let someone go, in some cases the notification is 30 days.
*We charge a low transparent fee to maximize your salary, this doesn't allow us to do an indemnization or severance payment when you are let go.
*We charge our fee on a monthly basis and is beneficial to us to have long term-relationships.
It depends on each specific position and hiring-company, but you should be able to follow up a conversation so that you can demonstrate your technical knowledge and experience in the interview.
Each position will have the requirements, and we don't ask for certifications or tests, we just want to make sure you can communicate with the hiring-company.
