RBBanner

Hello folks

I'd like to ask for some advice about the effect of working in the Middle East on a western career, specifically on the ability to find a good position when you decide to return.

I've been offered a good financial services role in Qatar, (mid-senior executive level). I currently have such a job in Eastern Europe so my main motivations would be (a) an interesting challenge and (b) good money. My wife is also up for the adventure (no kids).

My main concern though is that it might derail my career. Upon leaving my current role, I would be probably return to the UK (not a great time right now, but eventually things there will pick up).

I'm a bit concerned about how future employers will view this experience on my CV. Will they appreciate the variety, or will they perceive Middle Eastern organizations as "less sophisticated" and look down on them?

I ask because I've seen posts on this forum about people who can go back to " the real world" after working in the region...

Thanks in advance for any input you can provide.

Southlondoner

Hello RB Banner

A very interesting query. I have been working in Riyadh, Saudi Arabia for the last 2 years. This is valuations and product control within finance at a European investment bank. My contract finishes in September.
Previously, I have 8 years experience within financial services in London.

I have been trying since April for a role in London. No luck at all. The only hope is for roles in the region. However, the nationalisation campaigns are making this difficult.

So, in sum, only take this offer in Doha if the money is really good. Qatar may be more interesting to work in banking than Saudi Arabia.

UK at the moment is really dead - I think Qatar experience (connotations of wealth and dynamic growth) will play better on the CV than Saudi Arabia in banking.

A final point. You are probably more senior than my AVP level. In that case, the Qatarization/Emiritization will affect you less because locals will be less able to do your role.

If I can help with anything else, let me know

Southlondoner

One other thing. There is an interesting article on www.efinancialcareers.co.uk (also on their Gulf site) about bankers being stuck in limbo in hardship locations. It is all about Saudi Arabia.

Unfortunately, Saudi experience is definitely seen as second rate by recruiters/managers in the major centres of London and Singapore.

I hope experience in Qatar with all the activity going on there will sell better in London.

RBBanner

Many thanks for your replies Southlondoner.

The money the job offers is decent (not amazing), but if it ends up limiting my future prospects, it's not worth it.

I've asked a few friends and colleagues around and they are less aware of middle eastern financial "brands" thana Eastern European ones. This means even if they don't see it negatively, they're certainly not going to be impressed.

A tricky one to be sure.

Millhouse

I think a 2 year stint as part of an international move-around (i.e. London, Eastern Europe, Middle East... Asia) would be good. But be clear of your exit route at all times and keep the irons warm.

RBBanner

@Milhouse

That's a valid point but I've already been away for 5+ years now. I'm thinking another 2-3 might be pushing it.

On the other hand the EU economy might be better then, it's certainly pretty poor now.

RBBanner

OK, so the offer came and it's just over 50k / month. Based on what I've read here that'll provide a reasonably good living for us and allow us to save something (especially when you add a bonus probably around 30-40%).

I'm not sure how much we'll save as I suspect we'll be bored out of our wits and probably overspend on stupid bling and expensive evenings out.

Main concern is all these policies they hit me with, like exit visas (they don't do multi-exit visas) and no vacation for 6 months. Honestly I thought they were taking the p*ss.
Plus zero job security, not that I feel I need it, but every company I've worked for had a process for firing people, here it's just 1 months notice, no reason given?

How do they expect to recruit top flight professionals with this nonsense? My OH freaked when she heard about it, especially the stuff about me sponsoring her (she's feisty).
The money's good but I'm just not sure it's enough to compensate for this.

Don't get me wrong , I realize most people here have found a way to make this place work for them.

I guess I'm just questioning if this offer is enough to make me move to Doha, when I have a pretty good job right now and prospects elsewhere in the world.

Southlondoner

Hello RBBanner

Many congratulations!
QAR 50k per month is excellent. Even better if the housing is on top of this.

You had mentioned you have no kids so school fees are not a factor.
You can live well, enjoy and have 3 foreign vacations a year on that salary.

The cost of living in Doha will be higher than eastern Europe (Poland by any chance?) for everything bar petrol.

Qatar is a good place to be for financial services. Plenty of work here and not becalmed like in Riyadh. For instance, the big new financial centre in Riyadh - the King Abdullah financial district?
Riyadh's answer to Canary Wharf depends on state banks being arm twisted to move there.

Doha instead - a lot of activity and many foreign banks are doing well there.

Millhouse

Who takes a holiday within the first 6 months of starting a new job anyway? Hardly a deal breaker

RBBanner

true enough, that wasn't a big problem, though we always take a few days for Christmas with the parents and I think that's quite common, even in the first six months.

Actually none of it is a deal breaker by itself, but the overall image presented is so one-sided on the part of the employer that it de-means the package.

Getting paid more sounds nice, but when you factor in work-life balance, lifestyle (Doha does not vaguely compare to Prague), and the fact that your terms are like an indentured servant, it starts to seem like this isn't nearly as much of a step up, as simply a trade-off.
At which point the decision is a question of whether you really need cash, hence are willing to trade off all the other things that make up your work package and your quality of life.

My wife is also in Finance and while her income isn't high, she has a good career ahead of her, which needs to be factored in to our future plans.

rayban365

Just out of curiosity, how much of an increase did they offer over your current salary percentage-wise?

RBBanner

I find the metric meaningless. How does doha cost of living compare to Prague?
My current income is about 8 times the national average.