Partner Packages
I am moving from Director at Deloitte to Country Managing Partner for Tier2 Consulting division of a top 10 professional services firm in the Arabian Gulf region. is starting package of USD 300K reasonable and what key benefits I should be looking for: retirement contribution, what percentage of equity, etc
Frankly I doubt anyone here is knowledgeable enough to answer your question.
I would bet personal contacts and/or specialized compensation consulting firms will give you your best answer.
I would add that you haven't given any information about what Deloitte practice you are coming from either.
Thank you.
Is this pre-tax or post-tax. This could make a huge difference
Isn't, for example, Dubai income tax-free?
It sounds a little on the low side. Are you in advisory or audit? If its audit, id say its probably about right for a new partner. Not overly familiar with the Deloitte relocation benefits, but I know they have been very generous moving families, assisting reschooling etc- not sure with regards to the remuneration focused added benefits though
Thank you. Advisory and I agree with your assessment. I guess there is about 30% uptick from Consulting for Financial Advisory ?
Deloitte relocation benefits in the ME are not particularly charming unless you are a new site moving in the region from, say overseas.
I highly doubt 18-25 year olds who are the majority that peruse this site including me have any merit to answer this question
Hi - would be helpful if you could better define tier 2. Is it tier 2 in strategy like OW/LEK/RB/S&, or something else?
Assuming one of the above, USD 300k in the gulf region sounds a bit low. Of course tax is likely to be 0 or very low, but the numbers I've heard range from USD 340-380k for a new partner - in the Gulf.
In other parts of the world, e.g. SE Asia, China, etc...I'd say your base is about right, but not for the Gulf.
Thank you. Tier 2 professional services firms; name,y, BDO, Grant Thornton, Baker Tilly, etc. Agree the Strategy firms you mentioned would be higher packages that the USD 300K levels. Tier 1 are certainly much higher.
USD 300k sounds about right then, but as aleeboy below rightly stated - do make sure that things such as rent/children's education etc are incorporated or at least discussed. the former in particular can be a bit tricky in ME, esp UAE where a lot of the rent must be paid up front.
As country managing partner, you will be entitled to equity/ shares allocation plan - not sure unless you define what sort of firm you are joining.
Also, how tenured are you as a Director at Deloitte and how big is the new firm's book of business and growth target?
USD 300k seems right as this is not a lateral move which makes me think the firm has recently been set up, or has a renewed focus on the region. This means that if growth targets are achieved, your compensation would go up rapidly in line with your ability to deliver profits at a sufficient margin.
The other benefits you would received would include: housing, education for your children, allowances (e.g home leave and utilities) and possibly a vehicle. The tax rate is particularly attractive and so is the ability to buy a performance sports car and burn through fuel as it's cheap there. The only downside is you are there, but the consulting market is considerably easier than in Asia or the developed markets due to their inherent buyer behaviours.
Thanks. Very useful.
Equity is possible but not year 1 ... expected.
Spot on regarding pay growth and benefits.
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