British Expats

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-   -   Public investment fund (https://britishexpats.com/forum/me-job-discussions-136/public-investment-fund-929685/)

wonderer123 Dec 6th 2019 7:30 pm

Public investment fund
 
Expecting a job offer from the Saudi sovereign wealth fund PIF, does anyone here has any experience of working with them, any insight will be helpful. Also, is it reasonable to expect current uk salary to be paid in full I.e. keeping tax saving benefit and housing and schooling on top. Would appreciate some steer.
Laso we have heard Riyadh is modernising now so is it advisable to live outside compounds? Many thanks

Dictator1 Dec 7th 2019 2:41 am

Re: Public investment fund
 
I haven’t worked for them directly but they are known to pay good bucks. They were recently hiring for Amaala project not sure if you’re hired for this project or direct work for them. Your salary is all about current vs saudi offer. So unless you share numbers it’s hard to give any opinion. Riyadh is liveable both on & off compound.

wonderer123 Dec 7th 2019 6:52 am

Re: Public investment fund
 

Originally Posted by Dictator1 (Post 12775094)
I haven’t worked for them directly but they are known to pay good bucks. They were recently hiring for Amaala project not sure if you’re hired for this project or direct work for them. Your salary is all about current vs saudi offer. So unless you share numbers it’s hard to give any opinion. Riyadh is liveable both on & off compound.

Thanks, so current uk salary will convert to 70k SAR per month , hoping housing and schooling on top. It’s for the fund itself not the project you mentioned.

wonderer123 Dec 8th 2019 10:05 am

Re: Public investment fund
 
Uk salary is £170k before tax if that helps in advising of an equivalent number to expect in Riyadh.

how much differential would there be for a 3 bed villa in a compound vs off compound.

appreciate all the help

Millhouse Dec 8th 2019 1:04 pm

Re: Public investment fund
 

Originally Posted by wonderer123 (Post 12775529)
Uk salary is £170k before tax if that helps in advising of an equivalent number to expect in Riyadh.

how much differential would there be for a 3 bed villa in a compound vs off compound.

appreciate all the help

I’d take 170k UK over 70SAR. remember the exchange rate has been hammered but these are dollar economies when they shouldn’t be. You might be selling yourself cheap.

What is your job title in London? MD?


wonderer123 Dec 8th 2019 2:22 pm

Re: Public investment fund
 
Thanks Millhouse, that’s an interesting observation about exchange rate I need to factor that in my calcs. I am not a MD here though next level will be an MD, at least 3-5 yr down the line. Though with brexit and banking decline / cost cuts I am not banking in it.

I am still waiting for offer details, so will look at overall package before deciding.

my wife will have to give up her job too as Riyadh May not have many jobs for women economists.

Millhouse Dec 8th 2019 3:24 pm

Re: Public investment fund
 
Well the good news is that the cost of living is low... mostly as there is not much to do.

I’m no expert in KSA salaries.

If you’re going to forgo your 170k salary and the wife’s (I’ll guess 90k) salary, then you need to think hard.

Remember in Saudi there isn’t much job security and your CV gets burnt by being there. The longer you stay, the more burnt it becomes.

I’ve recently seen 70k+ salaries in Abu Dhabi for 10 years experience at a similar institution.


pupdawg82 Dec 22nd 2019 10:27 am

Re: Public investment fund
 

Originally Posted by Millhouse (Post 12775609)
I’ve recently seen 70k+ salaries in Abu Dhabi for 10 years experience at a similar institution.

What profile? Front-office PE role?

Millhouse Dec 23rd 2019 7:25 am

Re: Public investment fund
 

Originally Posted by pupdawg82 (Post 12781434)
What profile? Front-office PE role?

Front office (if such a thing exists) at a pension fund. My guess is it would be boring job with short hours.

And yes, the PE department.

HiHo Feb 16th 2020 10:55 am

Re: Public investment fund
 

Originally Posted by wonderer123 (Post 12775590)
Thanks Millhouse, that’s an interesting observation about exchange rate I need to factor that in my calcs. I am not a MD here though next level will be an MD, at least 3-5 yr down the line. Though with brexit and banking decline / cost cuts I am not banking in it.

I am still waiting for offer details, so will look at overall package before deciding.

my wife will have to give up her job too as Riyadh May not have many jobs for women economists.

170k Sterling No problem. KSA is struggling due to oil prices but its still afloat unlike the rest of the middle east. Your wife will find work even if she publishes and teaches if she is that career focused otherwise any of the banks will pick her up. She might not want to once she has got in to the social seen. The Climate in Riyadh is better than UAE since we don't suffer the humidity thus people socialise around pools most of the year. The party seen is great, The pub seen is not big. In the UAE people drink in hotel bars which are licensed. Riyadh does not have liquor licencing so the Pubs and Bars are unlicensed and a lot more fun as a result. Quality food in the middle east is not a priority although there are a few restaurants with European chefs.
Good Luck with the offer.



Legend_no7 Apr 26th 2020 4:05 pm

Re: Public investment fund
 

Originally Posted by wonderer123 (Post 12774980)
Expecting a job offer from the Saudi sovereign wealth fund PIF, does anyone here has any experience of working with them, any insight will be helpful. Also, is it reasonable to expect current uk salary to be paid in full I.e. keeping tax saving benefit and housing and schooling on top. Would appreciate some steer.
Laso we have heard Riyadh is modernising now so is it advisable to live outside compounds? Many thanks

Hey - I’m also considering whether to make the move. Out of interest, do you get accommodation / children schooling on top of the 70 SAR? As that would make a huge difference.
Thanks

wonderer123 Apr 26th 2020 6:29 pm

Re: Public investment fund
 

Originally Posted by Legend_no7 (Post 12844532)
Hey - I’m also considering whether to make the move. Out of interest, do you get accommodation / children schooling on top of the 70 SAR? As that would make a huge difference.
Thanks


Hi, check your messages

Travel1234 Jun 28th 2020 8:38 pm

Re: Public investment fund
 
Hi wonderer, I’ve recently found myself in a similar situation to you. Do you mind sharing your package details? I am single and would be moving on my own, but, the stats I have seen are all over the place on the package from PIF. Happy to share some discussions I’ve had thus far as well.

Legend_no7 Jun 28th 2020 11:46 pm

Re: Public investment fund
 
Hi - I’ve sent you a PM

Legend_no7 Jul 1st 2020 10:25 am

Re: Public investment fund
 
Responded in PM


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