Hi Monkeys,
As in the topic - what are your views on working in IBD in Dubai? Most interested in compensation and exit opportunities. Is the pay that great? Is the experience you get there treated at a discount compared to London IBD?
Thanks!
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Base salaries are on par with London and there's no income tax, so your disposable income is a lot more. This particular banker I read about also received US$10,000 annually in housing allowance. Unsure about exit opportunities and deals, would love to learn more.
*US$30,000 my bad
Sounds like a sweet deal, except for fact that one might need to pay higher tax when spending money in the US or Europe (buying a property etc.)
I got an offer for internship at an EB in Dubai, and heard that the base salary is basically similar to NY (85k USD with bonus from 80%~100%) + housing allowance.
But this is EB with alot of dealflow so it might differ from BB / bank to bank
Is this Moelis?
Friend got offer for Dubai, 60k GBP-equivalent base + bonus similar to London level
When you consider there's no income tax, your effective post-tax income is gonna be similar to new VP-level in London...
I work in IB in Dubai. c.140 - 150k USD all-in last year for Analyst 1. This is net as well since there are no taxes. If you work at a shop with deal flow you will make more in Dubai than anywhere else on a net basis.
Will also add that it's not all rainbows in paradise. You will work hours as long if not longer than NYC norm.
Is it easier to break in from a non target compared to other global cities? Not thinking about BB but boutiques.
Is this for BB? Is your base salary equivalent to NY or UK ? Some people in thread mentioned its equivalent to UK salaries. Thanks!
What are the exit opps like?
Not good check M&I. People in Dubai don't exit as comps in PE is lower than IB so they remain in IB
Not entirely true. Obviously ME based PE took a massive beating after the fall of Abraaj. Exits will be mostly geared towards SWFs. It's important to note that most people experience stagnation there as there is a very heavy 'local' presence and you will more than likely never be in a role that requires key decision making. Negatives aside, it seems like a sweet deal to work chill hours and make megafund level salaries without paying taxes. From what I've seen on LinkedIn however, it might prove to be difficult to transition from SWF PE to normal PE shops in Europe/NA.
How about IB interns at BB/EB in Dubai? Is salary the same but pro-rated or little less?
You get close to 4.5k pounds equivalent per month. No tax. I'm not sure if interns also get housing allowance. If yes, that'd be another 1k pound a month atleast
hey do you work in dubai
Do you need to speak Arabic?
Following this
What is the visa situation for Dubai IB? Do they sponsor?
Yes. It's the most immigrant friendly market in terms of visas
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