Hi,
I'm considering to move from London to Doha (Qatar). I'm currently working as senior associate for a mid market PE fund and I'm negotiating to move there for another fund with a similar size. The new position will be roughly the same in terms of seniority.
Any idea re: - What level of salary increase shall i set as a floor (please note personal income tax in Qatar is 0%)? Comparables/data/sources to estimate it? - Which type of benefits shall i consider as must-have? - What type of downsides would you consider when evaluating such a move?
Thanks
Regarding the downsides: Consider that it could be hard as an expat in Qatar, the culture is different from places like Dubai. Benefits: I am not sure but they should provide an housing allowance, health insurance, tuition fee allowance etc..
One potential downside is that alcohol is insanely expensive.
I know a few people in PE / HF in the Gulf (all or in Dubai or Abu Dhabi, but I assume Qatar is more or less the same). On comp, expect to be paid around the same (in USD). In the boom years, some firms would offer a significant premium to attract talent, but I understand that things have slowed down quite a bit and that firms are now taking into consideration the no tax thing (ie. you might take a small discount on the top-line number, but still come out way ahead on a net basis). Most people I know get a mix of of housing allowance, staff (driver, maid) and free flights home in addition to normal benefits (healthcare, etc) so your income becomes almost exclusively discretionary. Size and generosity of benefits obviously depend on seniority. Small sample size, but people I know of Arab / North African / Indian descent who went there complained of having much worse expat packages than people of European descent.
On the downside, people generally don't value experience in the Gulf very well (especially if it was gained at a local firm or SWF) and will discount it so it can be very hard to move back to a developed market. Obviously, you have to live there and the culture is very different. Personally, I have only been to Dubai and honestly, you would have to pay me an absurd amount of money to live there, but to each its own.
Illum asperiores autem earum dicta eum eius dolores. Repellendus officiis non velit nulla. Reiciendis non fugiat quia labore tempore.
Minima velit eos sit explicabo quia qui. Quod rerum culpa et velit. Inventore quam tempora eum natus nostrum nisi vitae. Commodi et accusamus et velit. Facilis quos pariatur non nemo quia sapiente. Ut commodi omnis vel sunt porro error eos. Corrupti dolor sequi esse quod quisquam maxime quia ab. Recusandae ab voluptatem culpa et ut.
Tempora debitis quos asperiores dignissimos ab iure. Exercitationem dolorem quos a vel expedita.
Quae tenetur incidunt ut non eveniet consequuntur reiciendis. Ratione consequatur molestiae tempore est qui. Est dolorem sapiente molestias facere.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...