Go Back  British Expats > Living & Moving Abroad > Middle East > ME Job Discussions
Reload this Page >

Real Estate Career Couple - salary advice

Real Estate Career Couple - salary advice

Old Mar 17th 2016, 11:23 am
  #1  
Just Joined
Thread Starter
 
Joined: Mar 2010
Posts: 11
courboy is an unknown quantity at this point
Default Real Estate Career Couple - salary advice

Hi Guys

I have been approached for a job working on a high-profile development project in Dubai. My role will be on the development and investment side and they'll require me to relocate from London in the next few months. I hadn't been looking into Dubai, so this is all moving very quickly.

I am currently working in real estate development in London with a base of £90k and bonus of c.£40k. My girlfriend will need to relocate with me and she has a similar package.

We are both interested in the move as it could be a nice change, but we also want to have a chance to save more money.

We live a fairly decent lifestyle (live near Marylebone, eat out 4 nights a week, a few gym memberships and lots of holidays, but we don't drink much).

I am lead to believe that the package will be comparable to my UK salary but obviously this will be tax-free. Please could you give advice on whether this is sufficient? My girlfriend will have to find a job once here but she's been approached by a few companies in the past and she works in real estate private equity currently.

As the GBP is weakening against the USD each day, this isn't helping things!

Many thanks in advance
courboy is offline  
Old Mar 17th 2016, 12:08 pm
  #2  
Lost in BE Cyberspace
 
Millhouse's Avatar
 
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Millhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

combined 180 + c.80 in bonuses in a shaky London market
half of it (forget bonuses and Mrs won't walk into a similar paid role) but its tax free - in a dying market.

stability is more important I think. It's not like the extra money is suddenly going to solve all your problems. assuming that it is actually more money - which I suspect it isn't
Millhouse is offline  
Old Mar 17th 2016, 12:32 pm
  #3  
Just Joined
Thread Starter
 
Joined: Mar 2010
Posts: 11
courboy is an unknown quantity at this point
Default Re: Real Estate Career Couple - salary advice

Originally Posted by Millhouse
combined 180 + c.80 in bonuses in a shaky London market
half of it (forget bonuses and Mrs won't walk into a similar paid role) but its tax free - in a dying market.

stability is more important I think. It's not like the extra money is suddenly going to solve all your problems. assuming that it is actually more money - which I suspect it isn't
Hi Millhouse, thanks for your reply.

My girlfriend has already been offered similar packages in Dubai in the recent past so I think that's achievable and I am being offered my equivalent UK salary in Dubai.

So I just wondered whether that's enough for us to sustain a similar lifestyle and save more money?

The UK market is stable for the segments we are in, so I don't have stability concerns here. Is it falling away in Dubai?

Thanks
courboy is offline  
Old Mar 17th 2016, 2:22 pm
  #4  
Lost in BE Cyberspace
 
Millhouse's Avatar
 
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Millhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Originally Posted by courboy
Hi Millhouse, thanks for your reply.

My girlfriend has already been offered similar packages in Dubai in the recent past so I think that's achievable and I am being offered my equivalent UK salary in Dubai.

So I just wondered whether that's enough for us to sustain a similar lifestyle and save more money?

The UK market is stable for the segments we are in, so I don't have stability concerns here. Is it falling away in Dubai?

Thanks
how recent is recent past? Things change quickly here. I very much doubt there is much Real Estate PE going on.

General real estate developments (bit hard to work out exactly what you mean buy this) isn't really all that healthy either.

Money wise the packages would be good - certainly an uplift in your saving potential but that depends on how you spend the money
Millhouse is offline  
Old Mar 20th 2016, 11:23 am
  #5  
BE Forum Addict
 
Joined: Jan 2011
Location: Dubai
Posts: 3,467
jam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

I thought the days of silly real estate salaries in Dubai were a thing of the past.....

If not I'm in, how hard can it be? "Here's a villa / apartment / building or whatever.... do you want it yanni?"
jam25mack is offline  
Old Mar 20th 2016, 11:30 am
  #6  
Concierge
 
mikelincs's Avatar
 
Joined: May 2006
Location: ex ex-pat, in Taunton
Posts: 27,210
mikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Originally Posted by courboy
Hi Guys

I have been approached for a job working on a high-profile development project in Dubai. My role will be on the development and investment side and they'll require me to relocate from London in the next few months. I hadn't been looking into Dubai, so this is all moving very quickly.

I am currently working in real estate development in London with a base of £90k and bonus of c.£40k. My girlfriend will need to relocate with me and she has a similar package.

We are both interested in the move as it could be a nice change, but we also want to have a chance to save more money.

We live a fairly decent lifestyle (live near Marylebone, eat out 4 nights a week, a few gym memberships and lots of holidays, but we don't drink much).

I am lead to believe that the package will be comparable to my UK salary but obviously this will be tax-free. Please could you give advice on whether this is sufficient? My girlfriend will have to find a job once here but she's been approached by a few companies in the past and she works in real estate private equity currently.

As the GBP is weakening against the USD each day, this isn't helping things!

Many thanks in advance
Don't forget to get married before you move if you decide to take the plunge, unmarried couples living together are a bit of a no no in the ME.
mikelincs is offline  
Old Mar 20th 2016, 12:21 pm
  #7  
BE Forum Addict
 
Joined: Jan 2015
Posts: 3,520
DXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Probably a different level of real estate. My guess is investment at a fairly high level - multiple millions as a starting point. Researching and targeting high net worth buyers. Wining and dining them. The salaries are high but the expectations are even higher.

Not your typical agent or salesman on the street.

Originally Posted by jam25mack
I thought the days of silly real estate salaries in Dubai were a thing of the past.....

If not I'm in, how hard can it be? "Here's a villa / apartment / building or whatever.... do you want it yanni?"
DXBtoDOH is offline  
Old May 8th 2016, 8:29 am
  #8  
Just Joined
Thread Starter
 
Joined: Mar 2010
Posts: 11
courboy is an unknown quantity at this point
Default Re: Real Estate Career Couple - salary advice

Thanks for the advice all. I've been to Dubai and have had an interview with an offer made of 40k AED p/mth. This appears to be all-inclusive too.

Basically it works out as my UK salary but obviously it's tax free. Is this a good offer? I feel it's a bit low considering I wasn't looking to relocate and I'll lose pension etc.

Thanks
courboy is offline  
Old May 8th 2016, 5:00 pm
  #9  
Onwards and Upwards!
 
Joined: Sep 2010
Posts: 884
Johnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond reputeJohnnyboy11 has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Only tax free once you are confirmed UK non-resident, which is April 6th 2018 at the earliest for you (status applied retrospectively and subject to 'Connecting Factors' and other conditions).

Remember to factor in other payroll benefits like employer pension contributions, illness cover, redundancy payment etc., which are unlikely to feature in your Dubai contract.
Johnnyboy11 is offline  
Old May 9th 2016, 8:17 am
  #10  
BE Forum Addict
 
Joined: Jan 2015
Posts: 3,520
DXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond reputeDXBtoDOH has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Same salary.

Hmm.

Advantage:

Tax free (from day one, you are only liable for taxes should you return to the UK before the grace period).

Living expenses are generally lower in Dubai than central London. You will get a nicer / bigger flat. Dining out tends to be cheaper. Alcohol is more expensive. On the whole I find Dubai cheaper than Central London.

Disadvantages:

Loss of pension contribution and bonus is never to be guaranteed.

GF needs to find a job.

Conclusion: the package alone is not going to be a big improvement above your current position as the tax savings are usually eaten up by needing to compensate for the lack of pension, relocation costs and the little hidden expenses of Dubai.

Part of me says to stay in London as your future is more predictable there. Dubai is a roller coaster town and the property market is in the crapper at the moment. But I can't deny that the potential still does exist for those at the very top of the market to do extremely well as there's an insane amount of money and high net worth individuals. For the right person with the right personality, Dubai could be an amazing opportunity.

Go with your gut instinct.
DXBtoDOH is offline  
Old May 17th 2016, 11:35 am
  #11  
Just Joined
 
Joined: May 2016
Posts: 11
Livingthedream123 is an unknown quantity at this point
Default Re: Real Estate Career Couple - salary advice

There is some negativity on this board some rightly some over caution, but you got to do whats right for you. With your salaries you can more than afford to rent/buy somewhere, and you can set up your own pensions with all the excess cash. I have a friend who pays 1.5k a month for a stunning 1 bed in the Marina. I trust your employers will be reputable and wouldn't be employing you unless there was demand in the mid term for you skills and industry.

Worst case scenario you come back and find a similar job again in London.
Livingthedream123 is offline  
Old May 17th 2016, 1:23 pm
  #12  
Lost in BE Cyberspace
 
Millhouse's Avatar
 
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Millhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Originally Posted by Livingthedream123
There is some negativity on this board some rightly some over caution, but you got to do whats right for you. With your salaries you can more than afford to rent/buy somewhere, and you can set up your own pensions with all the excess cash. I have a friend who pays 1.5k a month for a stunning 1 bed in the Marina. I trust your employers will be reputable and wouldn't be employing you unless there was demand in the mid term for you skills and industry.

Worst case scenario you come back and find a similar job again in London.
you're not here yet, are you?
Millhouse is offline  
Old May 18th 2016, 5:29 am
  #13  
BE Forum Addict
 
Joined: Jan 2011
Location: Dubai
Posts: 3,467
jam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Originally Posted by Livingthedream123
I have a friend who pays 1.5k a month for a stunning 1 bed in the Marina.
Thats cray cray!
jam25mack is offline  
Old May 18th 2016, 6:09 am
  #14  
Lost in BE Cyberspace
 
Millhouse's Avatar
 
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Millhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond repute
Default Re: Real Estate Career Couple - salary advice

Originally Posted by jam25mack
Thats cray cray!
he is thinking in pounds.
Millhouse is offline  
Old May 18th 2016, 1:52 pm
  #15  
Just Joined
 
Joined: May 2016
Posts: 11
Livingthedream123 is an unknown quantity at this point
Default Re: Real Estate Career Couple - salary advice

Originally Posted by Millhouse
you're not here yet, are you?
Not yet but I have friends there and spent 3 months living there on a internship in the past.

Yep I meant 1.5k GBP. That includes all bills/charges and is top of the range, he said he could have got a cheaper one in the same area.
Livingthedream123 is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.