# Is this offer fair - Finance job in Abu Dhabi Director Level



## mv5869 (Apr 12, 2016)

A couple of weeks ago I received an offer for a Finance job in Abu Dhabi. I really liked the company and people but there are some concerns.

The basic pay + bonus + allowances is about 30% lower than what I am on now in the UK. Even with all the allowances, and the tax breaks, I would be barely making more than at home so given all the disruption of upping sticks it wouldn't be worth it.

The other consideration is that my wife works in the UK and we'd lose her income.

What should I be expecting? I was led to believe a more normal number would be that my UK salary would be broadly matched, and the housing etc are then extra.


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## Racing_Goats (Sep 5, 2015)

Check one thread down query about director level offer, a lot of your questions are answered there (is the poster there your wife?)..


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## rsinner (Feb 3, 2009)

Sounds like your wife posted a thread down. I will be VERY wary of taking a finance job right now in AD. Its not that exciting at the best of times - and these are far from the best of times. Right from the sell side to the buy side things are precarious - no business for the former, and no money with the latter. I wouldn't do it unless it is a substantial raise from the current job (to be fair though, finance jobs in London are tricky as well currently). Bonuses will be lower than your current job.


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## mv5869 (Apr 12, 2016)

Racing_Goats said:


> Check one thread down query about director level offer, a lot of your questions are answered there (is the poster there your wife?)..


Similar situation, but different job  It's not my wife.


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## mv5869 (Apr 12, 2016)

rsinner said:


> Sounds like your wife posted a thread down. I will be VERY wary of taking a finance job right now in AD. Its not that exciting at the best of times - and these are far from the best of times. Right from the sell side to the buy side things are precarious - no business for the former, and no money with the latter. I wouldn't do it unless it is a substantial raise from the current job (to be fair though, finance jobs in London are tricky as well currently). Bonuses will be lower than your current job.


That's useful to hear. A shame. I really like the company (it's Buy side) and the culture, and coming to Abu Dhabi would be a bit of an adventure.

I have a good job in London that I like, so no incentive to move other than more pay and the chance to do something a bit different.

When you say I should only do it if a substantial raise from my current job, do you mean pre-tax or post tax?


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## Racing_Goats (Sep 5, 2015)

If you're in London now I'd think Abu Dhabi would offer a more relaxed life and almost definitely a much shorter and more pleasant commute


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## rsinner (Feb 3, 2009)

mv5869 said:


> That's useful to hear. A shame. I really like the company (it's Buy side) and the culture, and coming to Abu Dhabi would be a bit of an adventure.
> 
> I have a good job in London that I like, so no incentive to move other than more pay and the chance to do something a bit different.
> 
> When you say I should only do it if a substantial raise from my current job, do you mean pre-tax or post tax?


You are the best judge of course of what it will take to come down here. Racing Goats above has outlined a key benefit - the lifestyle will be MUCH more comfortable. If I had a buy side role in London, I would not move here if the package in AD wasn't higher or close to my pre tax current salary (even if it was govt. owned fund). There is a lot of risk in coming down here, not least of which is the paucity of new money at the moment, and how fickle decision making can be at times. Most firms are cutting down on budgets, and a new job is not a guarantee for continued employment. Also, you have to think what you would be doing after 3 years when you would normally make MD/ Partner (but not here).
However, like I said before, you are best judge whether the role itself justifies the move. And hopefully, the business environment will take a turn for the better.
Also, depending on your wife's job, she may not be able to get a suitable position here. 

Lifestyle wise I currently love it here and would not like to move, but career wise I do not see it going anywhere.


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## mv5869 (Apr 12, 2016)

Thanks rsinner. You're right about the MD point. I'm at the top end of the D scale at the moment and would expect to be MD within couple of years if I stay. That will be put on hold I know if I move to Abu Dhabi. 

The salary + benefits offer is well below my current UK package at the moment, so unless they increase it it looks like a no go. A shame as I was getting quite excited about the idea of the move.

My wife works in Credit Risk. AVP level with around 5 years experience. Is that likely to be a job that is fairly easy to find? I've looked on jobs boards but not a lot of hiring is happening at the moment.


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## Racing_Goats (Sep 5, 2015)

I know from a few friend's experiences and hearsay from other people that it's not always easy to find work back home, or rather to be selected for desirable positions at the level you think you should be at, after a spell in UAE (specific examples were UK and Oz) - may not be the case in every industry but something else to consider.

There has been layoffs recently by some of the banks here, if that's an indicator, but there will still be opportunities for people with a skillset that organisations need - especially if it's not readily available from someone who'll work for a lot less money..


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## mv5869 (Apr 12, 2016)

So now I've done all the calcs based on my current and future outgoings, and it doesn't quite work. Though it's not a million miles off. It depends now on whether they can increase the offer. I get the feeling that this place generally doesn't.

If I add my Basic + Expat Allowance + Gratuity + Accommodation allowance + expected bonus then it comes to about 10% below what I'm on now.

Add to that the higher cost of living, and the loss of my wife's income, and it means that even with the tax advantage I am down overall...


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## AlexDhabi (Aug 23, 2012)

Definitely don't come to UAE if it means taking a pay cut (after taking into account the tax you would pay in the UK and not in UAE).


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## rsinner (Feb 3, 2009)

mv5869 said:


> My wife works in Credit Risk. AVP level with around 5 years experience. Is that likely to be a job that is fairly easy to find? I've looked on jobs boards but not a lot of hiring is happening at the moment.


Most firms are not hiring, but you never know. Personally I wouldn't count on her geting a job soon. 



mv5869 said:


> Add to that the higher cost of living, and the loss of my wife's income, and it means that even with the tax advantage I am down overall...


Cost of living, particularly housing, is lower than London - its just that there aren't too many things you can do for free. You won't rent or eat at the highest end places in London - but in Abu Dhabi a lot of dining (esp. brunches) or renting happens at the more expensive locations.

Like I said, you are the best judge, but no way you should consider moving here if even your after tax salary is lower.


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