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And that's what, the equivalent of your post-tax salary next year when you're an associate? Also, there's no guarantee you're getting that 50% YE bonus. Imagine you got 0%, what would you do about that? SWFs would pay 2x that, unless you're laid off there's no way you should go for that.
Thanks man, appreciate your advice. Do you have more color on the wider pe market there by any chance?
Are there any other benefits? Seems kinda low to be fair
Only other benefits are healthcare + yearly round trip flight ticket to my home country.
That's below market by 25-50%
Definitely below market, I would expect more like 45-50k.
Seems like with the decline in activity across the US and Europe (and subsequent layoffs at the banks) funds in the ME are opportunistically lowballing candidates as they think they will still be able to fill the positions (and they are probably right).
That was my thoughts as well. However seem like all the local PE shops there are paying 35-40k per month. Its only swf that pay close to 50k, but their bonuses are much lower I heard (like 3-4 months). Can you confirm?
In that region really nothing seems to beat banking comp as well, which are disproportionally higher (close to 60k for asso2 with 50-70% bonus).
A bit hijacking the thread: got an offer for UAE SWF at more senior level (senior VP / Director) with base pay $250k (AED80k per month), total comp twice that. Any comment on the location especially the negatives? Currently based in Europe. Thank you
Abu Dhabi? Exponentially better than Dubai IMO... happy to share more info
Why would you say AD > Dubai?
Yes, it’s AD. (1) Is the salary in line with market for a 8-10y experience role? (2) What are the negatives of working in AD? eg working culture too laid back ie no real chance to grow, nepotism, etc
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I just re-read and saw your salary offer, that’s extremely low
Sorry, maybe I wasn't clear. The offer is $250k base and $600k total comp. No taxes. Is your opinion that it's extremely low or you were referring to the salary of the original poster?
My apologies, I was reading your salary then had op’s bonus in mind of 50%… I think your offer seems relatively in line, I do think base is still slightly lower than I’d expect coming from them. But 600k all in, esp tax free because European, is very solid. However, I do think you’d have some room to go on base a bit, or potentially see on an expanded housing budget, if that’s included in all in comp. My rent was about 250 and a year, my sense is that anything above that, you live very well, and pending your family situation anything about 300k aed for rent you can have very good selections.
re: rest of SWF points, they’d remain same, I think SVP/director role can have some leeway to climb up a bit, but gets extremely political at that level.
Hi May I ask the interview process in UAE SWF?Quite long time?
Can you share what the recruiting process was like?
Any color of WLB/weekly hours etc., holiday allowance (are you actually able to have it as planned)?
How do you land these offers? Headhunters? Applying on linkedin?
HH in my case.
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