Middle East IB + Other
Been thinking about a move to the middle east (even if temporary) for a change of scenery, try something new and lots of new opportunity. For some background I am first gen from the levant and still have family there so culturally not too far albeit born and raised American.
What do opportunities both in IB, PE, or any other interesting cash-generative projects look like right now in Dubai, Abu Dhabi, Qatar, KSA? Understand the region is experiencing insane growth. How far does a NYC TMT IB background take you in finding opportunities?
All insights appreciated.
I'm from NY. I will try to give my thoughts in the least biased way possible, while being professional:
Dubai, UAE is a sweet gig if you can land it. Competition is high.
0 taxes, incredible deal flow and often matching USD pay. Many Europeans/North Americans will work in Dubai for 3-5 years to save up for a house when they go back. I've seen people move to Dubai entirely after their stint.
It's also extremely safe, but I've heard there's not a lot to do in your downtime.
Abu Dhabi, UAE is very similar to Dubai. Same benefits, safe, no income tax, just slightly more boring than Dubai. I worked here for 1.5 years. I felt safer there than in Manhattan (although I still prefer NY, as it's home).
Tel-Aviv, Israel, has a lot of major BBs too. Lots of deal flow although the quality of companies is somewhat inconsistent.
Istanbul, Turkey is so-so in terms of deal flow. Also a good option if you're looking to work in that region (but you don't get tax benefits). Great food, great nightlife, good-looking population too.
Don't know anything about Riyadh, Saudi Arabia. Riyadh has some BB job postings, mostly energy-focused, but I don't know much about the place. Decent amount of Americans working there, from what I've read.
Sadly, the country that everyone agrees has the most potential of any Middle Eastern country, but is sanctioned is probably Iran. I doubt that's really going to be an option, despite the fact I've seen some posts on the country on this forum.
Thanks for the context. I know Dubai competition is high like anywhere, but I’d imagine less than if coming from a NY background? Just trying to understand how truly difficult it would be to land a role and I know US/Europe background and experience goes a long way in Dubai
I internally transferred from NY, when I did a stint in a MENA country, but in your case, I would reach out to the specialized IB recruiters (particularly European-based ones) as they often place professionals in the UAE (Dubai/Abu Dhabi etc), for example.
There are several in London, and some of these agencies in the UAE itself. These recruitment companies usually have a division focused on 'MENA' IB.
You'll definitely stand out with US experience, you'll just need to convince them you're serious about the move....
I can guarantee you, it is competitive due t the number of roles available it is not because of talent !
as a NYC - you will go far !!!!!!!!!!!! way further than a London/EU experience !
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