"Do not borrow more than your expected starting salary for your entire undergraduate education," he said.
Your R01 could, among other things, pay summer salary for you at the U.S. institution, as well as salary for your postdocs and your colleague during his Singapore visits.
When it comes to negotiating the salary for your first job, there are two schools of thought: Some experts believe that this is extremely important because it sets the benchmark for future raises and job offers.
Coupled with your specific expertise and experience, this should give you a fair and objective idea of what is a good salary for your position and to know whether the offer is reasonable, well under, or awesome (it being presumed that "awesome" is a fairly rare reaction to a salary offer!).
You have two goals in negotiating a salary for your would-be hire: you want to get good value out of the new hire (ensuring that your company remains profitable) while also making the new hire feel that s/he is happy and being compensated justly for their time and expertise.
Workers will probably want pay so if you will need to manage your expenditure to income ratio so that the money that is left will pay for your workers salary.
Consult the Occupational Outlook Handbook from the Labor Department or check salary survey Web sites like salaryexpert.com or payscale.com to find out the salary range for your job.
Start discussions about a job offer armed with salary information for your area.
