Took an Off-Cycle offer in a BB in Dubai over a Permanent contract in New York
Hello guys,
I'm currently at a pivotal point in my career, having completed internships in financial auditing, a top French investment bank, and a leading American investment bank in Paris (six-months each, so having 18 months experience in Finance now).
Faced with the choice of accepting a permanent position, I had offers from a lesser-known French boutique in NYC with a $110k base salary and a top French bank in NYC offering $105k, which would be considered a tier 3 bank in the U.S.
However, I've decided to take the off-cycle position offer from a prominent BB in Dubai with a salary of $94.5k (tax-free/without bonus).
Looking ahead, I've outlined three potential scenarios:
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If my experience in Dubai is positive, my plan is to secure a permanent contract, work there for 2-3 years, and then explore opportunities for an international move to the U.S., considering I am also a U.S. citizen.
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In the event that I find Dubai not to my liking, I intend to apply to graduate programs in the U.S. and London, seeking opportunities to make a move based on job offers.
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Alternatively, if I genuinely enjoy my time in Dubai, I might consider staying long-term, exploring roles in PE/Family offices within Dubai, or even building my entire career at the BB.
Crucially, I've already experienced life in Dubai and found it preferable to NYC, London, and Paris, emphasizing the significant impact of my personal life on this decision.
Overall, I believe these considerations align with my career goals and lifestyle preferences.
What is your opinion, and what would you have done in my position?
Many thanks
Congrats on the offers!
Just wondering: where are you from? You have a double citizenship (French and American), don’t you?
I think understanding your visa situation would be beneficial in answering your question.
Born and raised in France - with US citizenship from my dad.
Sounds like you've already decided... are you looking for people to tell you to renege?
i personally would have taken the permanent, NYC based offers as they sound pretty solid + you are dependent on Dubai deciding to give you an offer which is out of your control... but if you want to be in Dubai, go for it
Yes, but I am hesitant about exits. Opting for lesser-known banks in the US wasn't the ideal career path. I believe these additional 6 months in Dubai will allow me to assess whether I want to stay here or not. If not, my plan is to explore opportunities with a more reputable bank in the US, leveraging my experience with BAML on my resume.
and don’t forget you still pay federal taxes even if in Dubai!
Yes apparently after 120k$ so for now I’m fine I guess
You mean paying taxes TO the US government? Because Dubai's taxes are about single-digits according to what I heard
Yes, income tax to the US government. Dubai doesn't have an income tax. OP could renounce the US citizenship though if he wanted to stay long-term in Dubai without the tax burden.
similar, I would went to Dubai so I could also get to experience that region form the globe but long-term I will remain in NY or other city from US/Europe. Such exotic places are good to explore while you're young, at 30/40 years it's harder to go wherever you want in the world because you may have more assets, wife, kids, etc. making it even less worth it if you're planning to remain there short/medium-term
Congrats on the offer! Personally, I would have also taken the OC at a BB in DBX over the FT at a Tier 3 bank in the US. Have seen french graduates completing an OC at a BB in Dubai and moved internally to London. Considering Dubai being a small IB environment, you would have a decent shot to re-apply to other banks in the region upon no conversion
Bonne chance!
Congrats first of all! May I ask if you were to start as full time Analyst 1 with this BB, what would be the salary + bonus? And are there other benefits such as housing? Thanks!
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