Yvonne McNulty, a global mobility expert based in Singapore, says that high-paying “expat” packages that include housing, school fees and a car allowance – are fast disappearing.

She points to a number of recent surveys that support this trend: a 2017 KPMG survey on global assignments found just 27% of respondents expected their use of standard expat assignments – the ones that tend to attract generous pay and benefits packages – to increase. Some 29% expected them to decrease and were looking at extended business trips, short-term assignments and local hires to meet their international staffing needs. A 2018 survey from corporate relocation providers Cartus found cost concerns underpinned the shift away from the traditional long-term assignment, which is seen as increasingly expensive.

“The idea that you can work abroad for your company and ‘get rich’ or earn more than at home is outdated,” says Yvonne McNulty. “It’s a fallacy.”

That said, people can benefit from lower rates of income tax outside their home countries. In Dubai, there’s no tax at all. In Singapore, the top rate is 22% and in Hong Kong it’s 17%. That compares with 45% in European countries like the UK and France.

But that’s only one part of the equation.

Many of the countries where salaries are high are also some of the world’s most expensive. Hong Kong was ranked the world’s most expensive place for expatriates to live in Mercer’s 2018 Cost of Living survey, with Zurich in third.

Added to this is lifestyle creep – the idea that as your salary increases, so does your spending. For those on a foreign posting with a big pay bump, it’s tempting to fritter that money away on more nights out or high-end holidays.

The key, according to Talbot, whether you are single or with your family, on a generous expat package or an increasingly common “local” or “local plus” deal, is to decide the kind of lifestyle that you want, establish a financial plan and budget accordingly.

“People need to ask themselves what they want at the end of their stint overseas – do they want to pay off the mortgage, have a certain amount in the bank or buy a second property,” he says. “Decide on your goal and stick to that. You should always have a plan.”

Mai Tatoy, 48, moved to Singapore more than 20 years ago after the events company she worked for in Manila offered her a position in the city-state with a salary that was six times more than she’d earned at home.