Job offer - Public Investment Fund
#1
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Thread Starter
Joined: Jul 2020
Posts: 16


Considering a job offer from PIF. The offer details are below. I'm currently earning a base of 90K GBP per annual plus around 35% bonus, with additional 12% pension paid by my current employer.
1) 52K SAR monthly inclusive of base salary, housing, transport, gym, etc. (net of 48K after deducting 4K paid to the government)
2) Bonus is typically 3 to 5 months base salary.
3) Education allowance of 25K SAR per annual per child up to 4.
4) Family return flight ticket per annual.
5) 25 days annual holiday.
Any thoughts? Do we normally target doubling the disposable income with the move? If so, the package currently largely falls short of that target.
1) 52K SAR monthly inclusive of base salary, housing, transport, gym, etc. (net of 48K after deducting 4K paid to the government)
2) Bonus is typically 3 to 5 months base salary.
3) Education allowance of 25K SAR per annual per child up to 4.
4) Family return flight ticket per annual.
5) 25 days annual holiday.
Any thoughts? Do we normally target doubling the disposable income with the move? If so, the package currently largely falls short of that target.
Last edited by MyintD; Feb 23rd 2021 at 3:27 pm.
#2

Considering a job offer from PIF. The offer details are below. I'm currently earning a base of 90K GBP per annual plus around 35% bonus, with additional 12% pension paid by my current employer.
1) 52K SAR monthly inclusive of base salary, housing, transport, gym, etc. (net of 48K after deducting 4K paid to the government)
2) Bonus is typically 3 to 5 months salary.
3) Education allowance of 25K SAR per annual per child up to 4.
4) Family return flight ticket.
5) 25 days annual holiday.
Any thoughts? Honestly it is much lower than my expectation based on the info i've gathered from this forum.
1) 52K SAR monthly inclusive of base salary, housing, transport, gym, etc. (net of 48K after deducting 4K paid to the government)
2) Bonus is typically 3 to 5 months salary.
3) Education allowance of 25K SAR per annual per child up to 4.
4) Family return flight ticket.
5) 25 days annual holiday.
Any thoughts? Honestly it is much lower than my expectation based on the info i've gathered from this forum.
#3
Just Joined
Thread Starter
Joined: Jul 2020
Posts: 16


Married with a toddler just over 1 year old. Wife is a qualified accountant working in a large international bank, so hopefully not to difficult for her to find a job in Riyadh too, if that's what you mean by a "massive difference" as both of us will be working.
#4
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Joined: Dec 2016
Location: GCC region, formerly HKG, SIN and SYD
Posts: 85


Cant comment on Riyadh, but would say that in other countries in this region, the pay, hours and cost of nursery (and juggling child care) does not make finding a well paid job for trailing spouses easy.
#5
Just Joined
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Joined: Jul 2020
Posts: 16


Thanks. Good advice. Regardless of the fact that my wife works or not, I am targeting a doubling of disposable income. Is it realistic in these days? I understand the company also looks at your current pay, but based on my experience i could find my next job as department head elsewhere in London with at least 25% increase in base.
Anyway, if i want to negotiate the offer, would a 25% increase (from 52K to 65K) too aggressive/offensive?
Anyway, if i want to negotiate the offer, would a 25% increase (from 52K to 65K) too aggressive/offensive?
#6

You're the main man here, so focus on your salary. What I meant was that having a family incurs extra costs. Not an issue for you right now but schools can be very expensive.
As can compounds. Presumably your wife will want to live on one for social contact, getting to know other women etc, children meet ups etc. A 2 bedroom apartment probably starts around 120k SAR a year, and a 3 bedroom villa from 200k. There will be cheaper options, and there will definitely be more expensive options!
Throw in a japcrap car rental and a tank of gas a week and that's another 2-3k a month probably.
So you're already down about 15-20k a month and you've not eaten anything or had any fun yet.
Maybe another 5k a month on food. You know how you live. Food costs are broadly similar to the UK I find. Niche items will be expensive.
On the plus side, social life in Riyadh is cheap. More BYOB at house parties, events, bbqs, pool parties etc, or compound parties at the bar, rather than nightclubs obviously.
#9
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Joined: Jun 2005
Posts: 432












It looks like you have a decent situation in the UK, and your wife too, if she wants to work. You didnt say why you are considering the move, but if the idea is just to try and put some capital away, I think it’s shortsighted, as you need to think about how you would get back into the UK market , and what about your wife living in a compound, and no doubt missing her family ? Think carefully about what you will be giving up
#10
Just Joined
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Joined: Jul 2020
Posts: 16


Thanks for the advice.
Money is a big incentive but also the opportunity of being part of a growing organisation.
I've seen the comments of "CV get burned or exit strategy" a couple of times on this forum. Just wondering if that also applies to PIF? To me, the fund is among the top 10 SWF and will be one of the top 3 if the strategy plays out as planned.
Money is a big incentive but also the opportunity of being part of a growing organisation.
I've seen the comments of "CV get burned or exit strategy" a couple of times on this forum. Just wondering if that also applies to PIF? To me, the fund is among the top 10 SWF and will be one of the top 3 if the strategy plays out as planned.
#12
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Joined: Jul 2020
Posts: 16


I have the impression that the team needs a bit of upgrade/enhancement in some areas, and this is where I can bring in my experience to add value. I plan to stay for at least a few years and see how it goes. By the time i leave, say 5 years, PIF should (hopefully) have grown into a $1tn fund, which is larger than ADIA. The experience should not look too bad on my CV. No?
#13

I have the impression that the team needs a bit of upgrade/enhancement in some areas, and this is where I can bring in my experience to add value. I plan to stay for at least a few years and see how it goes. By the time i leave, say 5 years, PIF should (hopefully) have grown into a $1tn fund, which is larger than ADIA. The experience should not look too bad on my CV. No?
Specifically PIF is hanging its hat on a few interesting local tourism strategies - if you can see yourself lying on a beach in Saudi drinking a Mai Tai in 5 years time then I guess $1tn is within the realms of possibility.
A few of my friends work for PIF
Last edited by weasel decentral; Feb 25th 2021 at 3:46 am.