kidmann66

Just got an offer from one of the investment teams at PIF.

• Level is at VP
• Base is 55k SAR per month
• Performance incentive is "Per Policy in effect". I asked for a target/average figure but HR said he cannot share.

While the bonus is still a wildcard, anything under 100% (12 months) would mean a pay cut to what I earn currently in pre-tax terms. Does anyone have any insights of what a VP can expect for the yearly bonus?
Thanks and feel free to PM me.

Millhouse

Bonus culture here is nothing like the west. Assume it is half what they say it is; if they are not telling you, then assume it is zero.

kidmann66

Thanks. That's good to know.
The headhunter gave me a baseline figure of 50% so I guess I can assume it will be around 25%.

Thus they are expecting me to take a 30% (gross) pay cut for the privilege to work in KSA.

UKexpat2021

I’m contemplating an offer with PIF at a similar level. Bonus is apparently 3-7x monthly base

kidmann66

Yes so that aligns with the 50% (6 month) figure that I got from the head hunter.
Did you get an uplift from your current gross pay?

Kinesiz

I am also comtemplating an offer from PIF. From what I have seen from others / heard from headhunters, SAR 55k per month seems to be on the low end for a VP, especially if it means a cut to your currenr gross pay..

Are you currently in the UK? What is your experience like?

kidmann66

I will pm you

Kinesiz

Is there anyone else with additional data points on the package (base, bonus, accommodation, education, any other benefits, etc.)?
I have a couple of (very limited no. of data points) and these are of very (too much!) broad range. Would be great if others can share their headline figures.

fth

What type of sector are you guys VP's in? The base can move dramatically depending on your job function in London, so it is the same in the ME region too.

kidmann66

investment front office type

Alison_P

Has any one moved joined PIF from UAE . Wanted to understand what is the kind of offer (% Increase and Bonus) given and how cost of living differs between UAE and Riyadh.