PIF offer

Old Jul 29th 2023, 6:07 pm
  #1  
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Default 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
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Old Jul 29th 2023, 7:38 pm
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Default Re: PIF offer

Which team are you interviewing? When you say base, are there other allowances on top of the SAR number? 60k all in sounds low.
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Old Jul 30th 2023, 1:38 am
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Default Re: PIF offer

Originally Posted by RJ57
Which team are you interviewing? When you say base, are there other allowances on top of the SAR number? 60k all in sounds low.
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.
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Old Jul 30th 2023, 7:12 am
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Default Re: PIF offer

Why would you go to KSA if they are offering you the same wage you make at home?
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Old Jul 30th 2023, 8:21 am
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Default Re: PIF offer

Originally Posted by Traveler20
Why would you go to KSA if they are offering you the same wage you make at home?
yeah that is why I am trying to understand how much can it be pushed or if being low balled with just keeping tax benefit. Opportunity seems interesting though!
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Old Jul 30th 2023, 5:53 pm
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Default 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.
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Old Aug 24th 2023, 10:44 am
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Default Re: PIF offer

I've heard that salaries for VPs and SVPs are higher than that. Any recent updates on this?
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Old Sep 10th 2023, 10:46 pm
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Default Re: PIF offer

Hi,

Any news regarding the numbers you got for your offer? Also what did they mention regarding your bonus? I heard from HR 50-70%.

and finally, have you accepted the offer?

Cheers
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