Perks of the job: making the most of your Dutch salary

So you’ve got the job, you are moving to the Netherlands and you are ready to jump into your new life. Here is a guide from ABN Amro on some practical and financial matters you need to arrange, as well as some Dutch workplace benefits worth knowing about. 

Get your finances set up

First things first – you need a current account so your employer can deposit your salary, and having a local account will make it easier to manage your day-to-day finances. Note, you must have a Dutch bank account to get paid by a Dutch employer.

ABN Amro, which has 25 years’ experience in helping expat clients, is currently offering up to €175 cashback to new account holders – a handy financial bonus, especially at the start of a new life in the Netherlands.

But what other financial things do you need to get sorted out? Apart from a current account, you might like to start saving, so opening a savings account at the same bank would be a sensible move.

You’ll also need insurance – you’ll find out very soon that the Dutch love insurance – and, of course, some insurance, such as health cover, is compulsory too. ABN Amro offers several insurance products that you should consider – from personal liability to contents and legal aid. If you take out three or more insurance policies with them, you will receive a 3% to 5% package discount. That’s another nice financial bonus.

Then there are work-related financial benefits.

Exploring Dutch employee benefits

One perk of a Dutch job that many people are not aware of to begin with is holiday pay, or vakantiegeld. All workers and benefit claimants in the Netherlands have the right to holiday pay, which is equivalent to 8% of their annual income.

The concept of holiday pay dates back to 1910 and the money was traditionally paid out at the end of May to make sure people actually used it to pay for a break.

By the way, by law you are entitled to at least 20 paid holiday days if you work a five-day week, but in most pay deals (CAOs), 25 paid days off or even more are the norm.

In some sectors you may also be entitled to a 13th month paid out in December. Some companies also have different ways of giving their staff a bonus, such as a fixed amount for reaching a performance target.

Travel allowances and company bikes

Your job may entitle you to help with the cost of getting to and from work. Employers are allowed to give staff a tax-free allowance of 23 cents per kilometre for using public transport or a car or bike to commute, or you may be entitled to a public transport card that offers discounted travel. You may even be able to get a company bike.

Every employer is different, so make sure you ask HR about the travel perks at your company.

Other job-related perks

You may find your company canteen is subsidised or even free. You may also be entitled to gym membership or other club activities, and by law, if you work remotely, you are entitled to €2.45 a day as a working-from-home allowance. Some companies also offer a training budget to keep your skills up to date or provide Dutch lessons for their international staff.

Many internationals are surprised by the extra payments and perks they are entitled to when working for a Dutch company, just as they are surprised by the strict Dutch work-life balance and the way most people head off home at 5pm and don’t answer their work phone at the weekend.

Make sure you don’t get any unwanted financial surprises by getting your money matters sorted out, and do feel free to put your questions to ABN Amro’s specialist support staff for internationals. Find out more about opening an ABN Amro bank account and how you can benefit from a €175 cashback offer. That’s a lot of takeaway lattes – also an essential part of Dutch working life!