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Job offer - Public Investment Fund

Job offer - Public Investment Fund

Old Feb 25th 2021, 7:43 pm
  #16  
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Default Re: Job offer - Public Investment Fund

Originally Posted by MyintD View Post
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.
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...

Last edited by MyintD; Feb 25th 2021 at 7:50 pm.
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Old Mar 9th 2021, 4:51 am
  #17  
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Default Re: Job offer - Public Investment Fund

Originally Posted by MyintD View Post
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...
Hi MyintD

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
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Old Mar 11th 2021, 9:53 pm
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Default 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.
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Old Mar 18th 2021, 3:44 pm
  #19  
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Default 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.
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Old Mar 18th 2021, 8:35 pm
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Default Re: Job offer - Public Investment Fund

Please can someone explain the "4k to the government" in the OP. I thought all Saudi income was still subject to no tax.
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Old Mar 18th 2021, 9:16 pm
  #21  
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Default Re: Job offer - Public Investment Fund

Originally Posted by TM86 View Post
Please can someone explain the "4k to the government" in the OP. I thought all Saudi income was still subject to no tax.
Check 16#. I've updated the figures.
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Old Mar 19th 2021, 8:50 am
  #22  
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Default Re: Job offer - Public Investment Fund

Originally Posted by MyintD View Post
Check 16#. I've updated the figures.
Thanks. Are you willing to say how far you managed to push the offer up, before rejecting? I'm in the middle of a negotiation and it feels like they'll move quite a bit (but not sure it'll be enough).
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Old Mar 19th 2021, 9:15 am
  #23  
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Default Re: Job offer - Public Investment Fund

Originally Posted by TM86 View Post
Thanks. Are you willing to say how far you managed to push the offer up, before rejecting? I'm in the middle of a negotiation and it feels like they'll move quite a bit (but not sure it'll be enough).
No, there was no change regarding the figures. I was told that they've managed to offer a decent package from the beginning.
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Old May 25th 2021, 4:58 pm
  #24  
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Default Re: Job offer - Public Investment Fund

I'd love to hear more about the offers and housing experiences (specifically Al-Bustan). I might be bringing my 3 kids in a few months if we can work things out compensation wise.
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Old Jun 3rd 2021, 11:12 pm
  #25  
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Default Re: Job offer - Public Investment Fund

Hi MyD, may I know why you rejected the offer?

150% increase on pre-tax basis is very very good.
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Old Jun 3rd 2021, 11:37 pm
  #26  
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Default 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.
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Old Aug 15th 2021, 3:52 pm
  #27  
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Default Re: Job offer - Public Investment Fund

Hi folks -- thanks for all these great tips. How long did the full hiring process with PIF take you? What were the different steps you took?
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Old Aug 20th 2021, 12:17 pm
  #28  
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Default Re: Job offer - Public Investment Fund

Originally Posted by unjenesaisquoi View Post
Hi folks -- thanks for all these great tips. How long did the full hiring process with PIF take you? What were the different steps you took?
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.
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Old Aug 22nd 2021, 2:48 pm
  #29  
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Default Re: Job offer - Public Investment Fund

Originally Posted by LHR2022 View Post
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.
Sent you a PM LHR2022.
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