PIF offer
Jul 30th 2023, 6:07 am
#1
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Joined: Jul 2023
Posts: 3
PIF offer
Hi All - I am having discussions with PIF and expecting an offer soon. Look for some guidance here:
Title: I have 12 years of IB experience in the west and being offered VP level. Have others with similar experience in IB or investments been offered VP roles or should it rather be SVP?
Salary: Based on my current base salary, HR are telling me that at VP level they will only be able to offer my current base (and no uplift) as my current base is already on the top end of the range for their VP scales, which translates to approx. SAR 60k per month. Reading on the forum and what I have heard, I have seen ranges for VPs from 55k to even 85k per month (and even AVPs getting 65-70k). Would be great to get some data points to see if what they are telling us truth.
VP vs SVP: Would also love to hear if anyone managed to get offers at SVP level - how many numbers of experience they had and again what kind of salaries they were offered
Title: I have 12 years of IB experience in the west and being offered VP level. Have others with similar experience in IB or investments been offered VP roles or should it rather be SVP?
Salary: Based on my current base salary, HR are telling me that at VP level they will only be able to offer my current base (and no uplift) as my current base is already on the top end of the range for their VP scales, which translates to approx. SAR 60k per month. Reading on the forum and what I have heard, I have seen ranges for VPs from 55k to even 85k per month (and even AVPs getting 65-70k). Would be great to get some data points to see if what they are telling us truth.
VP vs SVP: Would also love to hear if anyone managed to get offers at SVP level - how many numbers of experience they had and again what kind of salaries they were offered
Jul 30th 2023, 1:38 pm
#3
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Joined: Jul 2023
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Re: PIF offer
Its with investments team, front office. Yes it is all in (i.e. includes base, travel, housing etc. allowances). Only on top would be tickets and education allowance. When you say too low, where would you expect? I saw some posts on this forum where people were saying 55k SAR all in for VP, but then someone also said 85k SAR (both for investments) so seems to be all over the place. Helpful to get some colour from you.
Jul 30th 2023, 8:21 pm
#5
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Jul 31st 2023, 5:53 am
#6
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Joined: Jun 2023
Posts: 65
Re: PIF offer
KSA might sound interesting but only so if renumeration is so too.
It's a rough gig, where even the most basic of challenges become epic undertakings. If you're not able to save a lot, and KSA can be quite expensive (1kg of coffee cost me 40 quid this weekend). It's not even anything special. Some toothpaste cost me another 8 quid. Decent food is also quite pricey. For 60k, you'd want at least another 20k ontop for your living expenses, rent, car, etc, etc. Especially in Riyadh.
It's a rough gig, where even the most basic of challenges become epic undertakings. If you're not able to save a lot, and KSA can be quite expensive (1kg of coffee cost me 40 quid this weekend). It's not even anything special. Some toothpaste cost me another 8 quid. Decent food is also quite pricey. For 60k, you'd want at least another 20k ontop for your living expenses, rent, car, etc, etc. Especially in Riyadh.
