londonandconfused

Hi All,

Firstly, I would like to apologise for yet another generic post but also thank you in advance for any subsequent advice and help - it is much appreciated.

Ok... I'm a 26 year old single guy (no long term ties) and living in London and working in the private equity investment industry (c. 4 years post university experience). I have an undergraduate degree and an MSc - both from good UK universities.

I'm currently on a salary of £60K - £70k per anum in London gross / before tax (the range is because it is an 'all in' compensation and dependent on discretionary bonus performance).

I have been offered a job at a very reputable investment bank in Doha and have been offered the following package:

QR. 27,000 per month (plus bonus which I've been told will be 50% - 100% of base salary - it's the nature of industry where bonus remuneration is discretionary so no guarantees on that front unfortunately).

Therefore, this salary works out at:

Base: £60,000 pa (net)

All in salary with bonus @ 50%: £90,000 pa (net)
All in salary with bonus @ 75%: £105,000 pa (net)
All in salary with bonus @ 100%: £120,000 pa (net)

I guess I have the following questions:

1) Given what I'm earning in London and my age / experience to date - is this package considered worthy of a move and is the new offer in Qatar competitive? Would it allow me to save yet also have a comfortable lifestyle?

2) Without meaning to cause any disrespect whatsoever; I've heard Doha is souless and boring. Would someone of my age who has a busy social life in London go mad there?

The job would involve a fair degree of international travel and would be great career opportunity but your input to the above 2 questions would be appreciated.

ps today is 30 March 2015 - I have a couple of days to decide eitherway so your prompt response would be very appreciated.

Many thanks in advance,

Kind regards

Oliver

britexpat76

Is that Qr27,000 all in or is there housing?

londonandconfused

Hi - QR 27k all in (split between basic salary and allowance)

Package also includes return flights to UK, healthcare cover and a lump sum relocation amount paid initially of QR 33,300...

scrubbedexpat141

Without the bonus, no, probably not really worth it.

BUT: Give me some figures;

NETT monthly at the moment - what do you get each month, on average, in your account
What do you spend on;
Housing
Car / Transport
Savings
Remaining - disposable, fun money

londonandconfused

I completely agree that on the basis of no bonus I wouldn't even consider it. But although the bonus isn't 'contractually' guaranteed, to all intensive purposes it kind of is; for example the team I will be joining got bonuses in excess of 100% of base salaries this year. The firm is very well capitilised, has a good track record and an excellent reputation in the market etc.

So my net take home each month (excluding bonus) is c. £2,500 currently in London.

My all in costs (absolutely everything) on average are around £2,250 per month so I am saving around £250 per month from my basic salary (hardly anything!)

On a net pay per month (excluding bonus) the potential new role in Qatar will be £5k, so it's already an 100% uplift on that but I'm also fully aware of the higher costs of living, especially housing in Doha etc.

Thank you!

scrubbedexpat141

I know exactly what you mean re; bonuses. Until recently I was exactly the same.

OK, so costs (others will be able to help with more accurate ideas on some things):

27000 QAR
Housing - 8-10,000
Car - 3,000 to hire something half decent. Less if you buy something.
Flights - 1,000 per month will give you about 3 home a year
--------
27,000 - 14,000 = 13,000

13,000 for savings, spending, boozing, whoring, eating and shopping.


I, with a Mrs (in Dubai), spend 4-700 a week on food shops - that's depending if I need dishwasher tablets and bin bags or washing powder, those things add up (yes, I'm aware just how rock and roll I am). So, on your own, budget 500 a week? That'll be plenty if excess then it probably covers lunches too.

'Spending Money' - I play golf, which isn't cheap, I rarely fill my car up because I don't drive it much now, I go out once a weekend / maybe twice and spend a bit....BUT; I take out 1500 a week and that covers all my costs normally. Yes, if I want to go and spend it all shopping for clothes then I take out more, but I try to stick to this cash budget. So that's 6,000 a month + 2,000 on food.

So, your 13,000 = 5,000 left. Which at the moment is not far off 1,000 GBP to bank.

Now, you might spend more each month, you might not. When bonus comes I do more, I go for weekends away and play golf more and have lessons (I'm still a bit shit) etc etc. I might even treat her to a dinner out mid week, I'm a modern man after all.

BUT, on the no bonus months - I knew I could afford to still live. Based on the above, as long as you're not a raging alcoholic you'll live fine on the basic only months and still manage to stick some cash away. It just won't be that exciting, fundamentally, which is why I said no.

If you start slapping 50-75-100% bonus on top, do what you ****ing want mate, save it, spend it, lord it up, enjoy it.

I see no reason why you shouldn't consider it.

christmasoompa

But you must be putting a massive chunk in to a pension if you're only taking £2500 home a month on a £60-70k a year salary?

Canadian expat 1

Hello everyone,

I'm new to this forum community and I would also like to throw a question if anyone could help me asap
I went through a very daring process of interview in on of the leading sporting academy company in Qatar as a business/project consultant and I have no idea what the salary will look like I was told by the hiring managers that my last interview went excellent and my profile has been recommended to HR department and they will get back to me shortly. I'm American born and living Canada for last 10 years with over 10years of experience as a Lead consultant I'd like to know what would be the salary offer would be coming from HR including allowances and benefits? I would really appreciate if anyone can give me an idea my current compensation in Toronto is about $14000 USD/month, however we do pay heavy amount of taxes in west and I understand that salaries in the mid east are tax free.

rayban365

Did you take it in the end? I personally think you need to be asking for QAR 40k per month if you're earning 60,000 GBP per annum now. Doha is an expensive place.

ramsaybairn

Gut feeling,
Having spent many years' working in London (myself and husband) and then completing a 3 year stint in Doha, stay in London!!

Britmal

Yes go for it, Qatar has everything!

Smoke, mirrors, unbreathable dust, shitty and overpriced accomomodation, lies, bullshit, and suicidal / potentially murderous drivers.

Enjoy!

scrubbedexpat141

Is that London or Qatar you're talking about?

Britmal

Since the forum title is 'ME Job Discussions' and the thread is named 'Job Offer in Qatar - Please Help!', where do you suppose I am talking about?

scrubbedexpat141

Whoosh.

co durham boy

Straight over his bonce that one mate !