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Confused - need some sound advice!!!

Confused - need some sound advice!!!

Old Jul 25th 2008, 2:21 am
  #1  
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Default Confused - need some sound advice!!!

Hello everyone!

Thanks for taking the time to look at my thread - I have a new dilemma. I have been on this forum in the past when I was offered a position with one of the 'Big 4' accountancy firms in Dubai which I turned down as the money was no good.

At the time i was working for the same firm in London which I have now left..I have now joined an investment bank in London only to find that the job is as boring as hell (but pays more, better work life balance..and it's in securitisation which is probably not the best area to be in given the current credit crisis and situation with debt markets in London).

My dilemma is this: Should I take a pay cut and come to Dubai with another one of the Big 4 accountancy firms or will working for a bank for a year (in a boring job) and then looking to come to the UAE leave me in a better position because banking experience seems to be valued more in Dubai?

The accountancy firm who are offering me this position, again are not paying me a huge deal (works out roughly under 30,000 aed a month and this includes EVERYTHING) but i am hoping to come out and look elsewhere after a year which pays more, better prospects etc etc? The only thing that worries me is that the Dubai role has a clause in the contract which basically says that ''no local release will be granted until 3 years continuous employment is served''. I investigated this with the HR department who informed me that if i handed my notice in before 3 years then they would cancel my visa and not transfer it..this means that i will get an employment ban imposed right?

Is there anyway to get around this employment ban as i do not want to commit to 3 whole years in case i don't like it/find something better?

Consequently, does anybody know what accountancy firms are viewed as in the UAE - I will be working in transaction services so will have exposure to plenty of clients involved in M&A. I'm worried that accountancy firms in the UAE (even the big 4) are not held in high regard and banking experience is more valued...does anybody know whether this holds true at all?

Also if i do some out, I will have to flatshare - so will i find a decent room near SZR for around 6,500 - 7,000 AED pm?

Any comments/advice would be much appreciated and valued as i simply don't know what to do!

Thanks in advance x
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Old Jul 25th 2008, 6:07 am
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Default Re: Confused - need some sound advice!!!

Originally Posted by Riina View Post
Hello everyone!

Thanks for taking the time to look at my thread - I have a new dilemma. I have been on this forum in the past when I was offered a position with one of the 'Big 4' accountancy firms in Dubai which I turned down as the money was no good.

At the time i was working for the same firm in London which I have now left..I have now joined an investment bank in London only to find that the job is as boring as hell (but pays more, better work life balance..and it's in securitisation which is probably not the best area to be in given the current credit crisis and situation with debt markets in London).

My dilemma is this: Should I take a pay cut and come to Dubai with another one of the Big 4 accountancy firms or will working for a bank for a year (in a boring job) and then looking to come to the UAE leave me in a better position because banking experience seems to be valued more in Dubai?

The accountancy firm who are offering me this position, again are not paying me a huge deal (works out roughly under 30,000 aed a month and this includes EVERYTHING) but i am hoping to come out and look elsewhere after a year which pays more, better prospects etc etc? The only thing that worries me is that the Dubai role has a clause in the contract which basically says that ''no local release will be granted until 3 years continuous employment is served''. I investigated this with the HR department who informed me that if i handed my notice in before 3 years then they would cancel my visa and not transfer it..this means that i will get an employment ban imposed right?

Is there anyway to get around this employment ban as i do not want to commit to 3 whole years in case i don't like it/find something better?

Consequently, does anybody know what accountancy firms are viewed as in the UAE - I will be working in transaction services so will have exposure to plenty of clients involved in M&A. I'm worried that accountancy firms in the UAE (even the big 4) are not held in high regard and banking experience is more valued...does anybody know whether this holds true at all?

Also if i do some out, I will have to flatshare - so will i find a decent room near SZR for around 6,500 - 7,000 AED pm?

Any comments/advice would be much appreciated and valued as i simply don't know what to do!

Thanks in advance x
Think carefully before making any decisions - are you with a good recruitment company who can help you? If not, I would like to suggest you register with a couple. Flatshare/villa share could work out more expensive than you imagine and is not always easy (see the thread about families being evicted). Also, the audit/accountancy firms generally are not viewed as the greatest of employers - long hours, salaries not particularly good salaries or benefits packages - have a look at the financial organisations in DIFC, some of them are paying very well, with highly competitive packages.
Alternatively, have a look at what's happening in Abu Dhabi, there is some interesting stuff going on - do a bit more research.

I'm not a negative person - the UAE is a wonderful place to live, but if you are cautious by nature, then I think you need to move carefully. If you are the sort of person who wants to take a chance and wouldn't be worried if things don't work according to plan then go for it. Good luck either way, let us know how you get on.
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Old Jul 26th 2008, 4:03 pm
  #3  
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Default Re: Confused - need some sound advice!!!

Originally Posted by Riina View Post
Hello everyone!

Thanks for taking the time to look at my thread - I have a new dilemma. I have been on this forum in the past when I was offered a position with one of the 'Big 4' accountancy firms in Dubai which I turned down as the money was no good.

At the time i was working for the same firm in London which I have now left..I have now joined an investment bank in London only to find that the job is as boring as hell (but pays more, better work life balance..and it's in securitisation which is probably not the best area to be in given the current credit crisis and situation with debt markets in London).

My dilemma is this: Should I take a pay cut and come to Dubai with another one of the Big 4 accountancy firms or will working for a bank for a year (in a boring job) and then looking to come to the UAE leave me in a better position because banking experience seems to be valued more in Dubai?

The accountancy firm who are offering me this position, again are not paying me a huge deal (works out roughly under 30,000 aed a month and this includes EVERYTHING) but i am hoping to come out and look elsewhere after a year which pays more, better prospects etc etc? The only thing that worries me is that the Dubai role has a clause in the contract which basically says that ''no local release will be granted until 3 years continuous employment is served''. I investigated this with the HR department who informed me that if i handed my notice in before 3 years then they would cancel my visa and not transfer it..this means that i will get an employment ban imposed right?

Is there anyway to get around this employment ban as i do not want to commit to 3 whole years in case i don't like it/find something better?

Consequently, does anybody know what accountancy firms are viewed as in the UAE - I will be working in transaction services so will have exposure to plenty of clients involved in M&A. I'm worried that accountancy firms in the UAE (even the big 4) are not held in high regard and banking experience is more valued...does anybody know whether this holds true at all?

Also if i do some out, I will have to flatshare - so will i find a decent room near SZR for around 6,500 - 7,000 AED pm?

Any comments/advice would be much appreciated and valued as i simply don't know what to do!

Thanks in advance x
Generally accounting firms in the UAE are not held in the highest regard, it does not compare to the UK or other Western societies.

Riina, if you are UK big 4 qualified, then I know of jobs going in Abu Dhabi in the accounting field, good salaries plus a great benefits package, and travel too if you want it. Send me a PM if you are interested and I can give you more details.
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