Dictator1

Hi,

I have recently been offered a job as a RM in corporate banking for one of the banks in Qatar. Please share your thoughts on offer and what it realistically should be?

I am currently on £90k in UK + bonus etc working for a major bank.

I am offered this new job after a very brief interview by a Qatari bank . They asked for my payslip to be sent before the contract. I did think that it was really awkward for asking a payslip. They sent an email with documents required at certain stages of recruitment and it was a pre requisite to send a payslip before issuing of contract. And even though I tried not to send a payslip initially but they refused to issue a contract.I have received a contract which is as following:-

Basic 11820
Housing allowance 6500
Market adjustment 6000
Ticket allowance 1500
Transportation allowance 1650
Utilities 530
Total 28500

This is just about my net pay in UK. What are your thoughts? How should I negotiate?

Please help!

DXBtoDOH

Equivalent to net pay in UK but tax free?

Even so, forget it.

Have you paid any attention to the news lately?

28500k is not much for Qatar. I'm on quite a bit more and I still flatshare. I don't have a flash lifestyle. I could, I suppose, but I'd be spending a lot and Qatar is one of those places where it just doesn't feel like you're getting your money's worth through spending a fortune on rents and entertainment.

Dictator1

Thanks DXBTODOH.

Yes I read the news about Qatar today.

I refused this offer initially, HR has come back to ask how much would I expect? I have doubled this amount which I am sure they won't agree with but let's see. Given today's news and my nature of work it has put me off from this offer. But let's see!

Dictator1

Hi Dxbtodoh,

They have come back with final offer of 33k all inclusive. Do you think it's worthy for a single person? Obviously I won't move until current crisis becomes clear.

Thanks for your help.

DXBtoDOH

You can live on it.

1-bedrooms range from 8k a month (decent) to 10k a month (decent but with views in West Bay or on the Pearl). Can find flatshares for 5-6k a month.

Budget 1k a week for day to day living and a very quiet social life. If you want a car, budget more.

BUT

Your current salary of 90k GBP is 424,859.03 QAR. Your current revised offer works out to 396,000 QAR. So you're taking a pay cut. Yes, tax free, but you're not getting pension / NI contribution or anything either, which narrows down the differential a bit.

You'll get a bump in your disposable income but not that much more, relatively speaking. The risks you face includes getting back to the UK someday, being out of an income if you have to quit a job and take a few months to find something in the UK (as so many do), potentially higher COLA in Doha relative to where you are in the UK (though this is mitigated by that Doha is cheaper than London if that's your home base).

Me, personally, wouldn't do it. Because Doha isn't worth an extra 20k GBP disposable income over your already comfortable current income. Career progression in Qatar is minimal as well. Local employers are dicey. But if you really only care about saving every possible penny and the extra 20k a year disposable income means a lot to you then you have different priorities that I'm not factoring in. Do you also have religious reasons for wanting to be in Qatar?

Dictator1

Thanks for your reply .

Religion holds zero value in my decision making as I find UK to be much more tolerant than any other place.

My issue is that unlike some of other members who hold skilled/specialists in O&G or construction etc, my work is much generic and it needs local experience to land foot in the market. I previously applied for several jobs but had no luck. Doha based bank took this risk even though I have no previous GCC experience. I feel that once I have bit of GCC experience than I can move quickly to better salary and location i.e. Dubai or Abu dhabi.

DXBtoDOH

That is a rational thought. I can be of help. Two years in Qatar may help you much more in moving to AD or Dubai. Some make their decisions based on that thinking.

If you're willing to not lose but not necessarily gain money either in the move to Doha and use it to test the market and try to parlay into a better role elsewhere, then maybe it's worth it. Your decision

FYI in your role you're best off finding a flatshare in West Bay. Forget having a private place unless it's that important.

Dictator1

Thanks, I appreciate your advice.

In btw, my employer agreed to provide either 14 or 28 days in hotel initially but they will take off my home and utilities allowance for a month. Is that normal?

Millhouse

To might want to wait a bit before resigning from your currency job.

scot47

This is not the time yo go to Qatar. "For every thing there is a season.,....."

DXBtoDOH

Yep.

Like your pun

I used to think this thing would be resolved fairly quickly but now I'm not so sure. Qatar is hardening, with Turkey's support.

Dictator1

Thanks everyone. I have got fingers crossed on current situation. I will surely not resign until current crisis come to an end.

Millhouse

it's not ending anytime soon.

martinbkk

Yeah, think months, not weeks.

DXBtoDOH

Maybe even years.

Qatar can't cave in without becoming the perpetually weak partner in the GCC. UAE and Saudi can't back down without looking foolish.

Arab pride is at stake.