ldnnt

Hi,

I applied for a Dubai based Senior Technology Management (Director level) role in a European bank. I was recently contacted by HR. After going through different things, they asked me whether my compensation expectation is negotiable. I think its about managing expectations before interview process gets started. I told them i will get back.

I had asked for monthly 70K AED plus housing & schooling. It was based on 2016 UAE Salary guides published by various agencies. But HR said that they don't offer schooling. Their compensation structure consists of
- Base
- Cash Benefit that would probably cover Housing (figure was not mentioned)
- Cash for Family Tickets
- Discretionary bonus (which I also receive in my current role)
- Medical and some other standard stuff

Im currently based in London and managing banking technology. My domain is slightly niche. But I am interested in moving to UAE for the right role and financial reward.

My eldest will not be ready for school until next couple of years but i like to consider this. I have read on this forum that Schooling is the key cost element.

So , my questions are
- Is it the reasonable Base expectation for this kind of role?
- How much is the monthly average School fee?
- If i dont get Schooling, will this Base be sufficient to cover schooling without being worse off ?

My objective is to have a reasonable (not so extravagant) lifestyle with monthly savings of 22-25K AED.

Thanks,

DXBtoDOH

Well, 70k a month will be enough to live a nice life with a decent villa, two kids at the better British schools, two decent cars, 1-2 holidays a year, food, social activities and all that, and still put aside 30k a month into savings.

Quick breakdown:
240k for the villa including all expenditures, utilities and internet (20k a month)

100k for school fees (50k each for two kids, this is primary years, it goes up rapidly for secondary)

120k for operating two cars, food, social, clothes, entertainment (10k a month, although depending on your lifestyle this could be on the low end while for some people this is very generous, also dependent on whether you have car loans or pay cash for your cars and only have operating expenses)

40k for annual holidays


500k lifestyle, in short 41k for all expenditures + 30k for savings on a monthly basis.

70k a month + housing + school fees on top is really getting up into senior director level and may be unrealistic for you.

But how that compares to your current position I don't know.

ldnnt

Thank you. It's very helpful.

30K AED saving is about £5k (ignoring recent rate drop and using 10 year historic average of 6:1).

Assuming all other things being equal, How much upside in savings should be considered reasonable, in comparison with UK?
For example, if I manage to save £3K/month in UK. Is this 66% increase in line with the other people who made the move?

Thanks

Millhouse

I disagree. Savings would be nearer 15-20k.

Bahtatboy

That's a very niche question (and fair enough, because you've stated that your speciality is niche). I don't think there are too many members on here who are bankers -- and I would hazard a guess that the majority of people who come to the gulf were saving zilch or thereabouts before they came. The primary caveat to that is in respect of pension arrangements they had in UK.

But you've hit the nail on the head: increase in salary / benefits and so on is meaningless -- it's the increase in what you can save that's what it's (nearly all) about. Only those with a job similar to yours can say if a good increase in saving is 66%, 166% or 666%... (However, if you're only going to increase your savings by £2k pcm, looking at it from an absolute rather than a relative perspective, is it really worth the upheaval and risk? Unless, of course, you fancy the lifestyle...)