Job offer - Public Investment Fund
Feb 25th 2021, 7:43 pm
#16
Forum Regular
Thread Starter
Joined: Jul 2020
Posts: 49
Re: Job offer - Public Investment Fund
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.
1) It looks like I do not need to pay 4K monthly to the government.
2) Annual family air ticket business class fee will be paid to my account.
3) Therefore, all-in base salary around 60K SAR plus 3 to 5 month base salary as yearly bonus.
4) $20K one-off allocation allowance.
5) 25 annual holidays plus around 15 days public holidays, so in total about 40 days holidays.
Money wise, it almost meets my expectation now (equivalent pre-tax total salary increases by 150%, disposable income doubles).
Need to think about from career progression perspective, mainly to understand how bad it can be...
Last edited by MyintD; Feb 25th 2021 at 7:50 pm.
Mar 9th 2021, 4:51 am
#17
Just Joined
Joined: Mar 2021
Posts: 2
Re: Job offer - Public Investment Fund
Quick update:
1) It looks like I do not need to pay 4K monthly to the government.
2) Annual family air ticket business class fee will be paid to my account.
3) Therefore, all-in base salary around 60K SAR plus 3 to 5 month base salary as yearly bonus.
4) $20K one-off allocation allowance.
5) 25 annual holidays plus around 15 days public holidays, so in total about 40 days holidays.
Money wise, it almost meets my expectation now (equivalent pre-tax total salary increases by 150%, disposable income doubles).
Need to think about from career progression perspective, mainly to understand how bad it can be...
1) It looks like I do not need to pay 4K monthly to the government.
2) Annual family air ticket business class fee will be paid to my account.
3) Therefore, all-in base salary around 60K SAR plus 3 to 5 month base salary as yearly bonus.
4) $20K one-off allocation allowance.
5) 25 annual holidays plus around 15 days public holidays, so in total about 40 days holidays.
Money wise, it almost meets my expectation now (equivalent pre-tax total salary increases by 150%, disposable income doubles).
Need to think about from career progression perspective, mainly to understand how bad it can be...
Curious to know if you accepted the offer and if yes how has the experience been?
I am currently considering an offer at PIF. Your feedback will be very helpful
Mar 11th 2021, 9:53 pm
#18
Just Joined
Joined: Mar 2021
Posts: 1
Re: Job offer - Public Investment Fund
Same here fellows, I would highly appreciate any insight regarding the recruitment and hiring process of PIF. It is a black box, I have done all of the interviews, submitted all of my information as per their request, yet no one is willing to relay any feedback regarding my employment status. I have been waiting since 01/13/2021 and still nothing.
Please guys, anything would help. I am in dire need of this opportunity to be able to sort my mortgages in order.
Wish you all the best and happiness in the world, my dear forum mates.
Please guys, anything would help. I am in dire need of this opportunity to be able to sort my mortgages in order.
Wish you all the best and happiness in the world, my dear forum mates.
Mar 18th 2021, 3:44 pm
#19
Forum Regular
Thread Starter
Joined: Jul 2020
Posts: 49
Re: Job offer - Public Investment Fund
To give everyone an update, I've rejected the offer. Unfortunately we could not agree on the compensation package.
My thoughts are you need to take some risks to relocate and it is very important to review every aspects of the changes. Some people on the forum has provided very helpful guidance. Thank you very much.
My thoughts are you need to take some risks to relocate and it is very important to review every aspects of the changes. Some people on the forum has provided very helpful guidance. Thank you very much.
Mar 18th 2021, 9:16 pm
#21
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Thread Starter
Joined: Jul 2020
Posts: 49
Mar 19th 2021, 8:50 am
#22
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Joined: Mar 2021
Posts: 3
Re: Job offer - Public Investment Fund
Mar 19th 2021, 9:15 am
#23
Forum Regular
Thread Starter
Joined: Jul 2020
Posts: 49
Re: Job offer - Public Investment Fund
No, there was no change regarding the figures. I was told that they've managed to offer a decent package from the beginning.
Jun 3rd 2021, 11:37 pm
#26
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Joined: May 2021
Posts: 4
Re: Job offer - Public Investment Fund
I rejected the offer, the package was barely adequate in total. The increase in pay was not reflective of the true costs of housing I would expect and schooling for my kids amongst other things that basically made the risk of dealing with PIF and the issues with that organization.
Aug 20th 2021, 12:17 pm
#28
Just Joined
Joined: Jul 2021
Posts: 3
Re: Job offer - Public Investment Fund
Initial pre screen phone conversation with recruiter then interview with 2 directors and 1 senior member, I got called back 3 days later asking for my certs which I sent 5 weeks ago, I haven't heard back yet despite following up twice. I'm not sure if it's still going ahead or not... would be nice to know.
Aug 22nd 2021, 2:48 pm
#29
Just Joined
Joined: Nov 2020
Posts: 18
Re: Job offer - Public Investment Fund
Initial pre screen phone conversation with recruiter then interview with 2 directors and 1 senior member, I got called back 3 days later asking for my certs which I sent 5 weeks ago, I haven't heard back yet despite following up twice. I'm not sure if it's still going ahead or not... would be nice to know.