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Since 2004
By Lena Zander for Bild
Although VW’s business in China is no longer running smoothly, German managers stationed there still benefit from generous compensation packages.
For example, VW not only covers accommodation, but also provides perks like flights home for the whole family and school tuition for their children. Per VW manager, these benefits can quickly add up to more than 50,000 euros annually—on top of their salary and bonus payments.
At the top is VW’s head of China, board member Ralf Brandstätter (2023 compensation: over 4 million euros). Reportedly, his additional package in Beijing amounts to around 700,000 euros. Just for the top executive’s luxury apartment, measuring over 400 square meters in this 20-million-resident metropolis, Volkswagen reportedly covers the full monthly rent of nearly 20,000 euros.
In general, for VW expats, the following housing allowances apply: Singles can spend up to 4,000 euros per month for housing in Beijing; couples are allowed over 4,500 euros, couples with one child receive just over 5,000 euros, and couples with two children are granted around 5,700 euros in housing allowance.
Depending on management level, these subsidies increase. Top managers are entitled to around 7,700 euros per month for accommodation. Additionally, VW covers costs for German schooling, approximately 25,000 euros per child per year.
Volkswagen is also generous when it comes to flights home. Every expat, along with their partner and children, is entitled to two trips home per year. The budget for this is set at 2,000 euros per person per trip, which is paid directly to the employee. What the expat does with this “travel money” is entirely up to them.
Source: Bild
https://www.bild.de/geld/wirtschaft/volkswagen-in-china-luxus-fuer-mitarbeiter-waehrend-deutschland-spart-672259fbc11ba45430cf1228
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