Saudi Arabia

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sumz

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Dreary Wrote:
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I don't
> agree with there being any real discrimination
> against foreigners.

against non-arabs there is, especially people from south-east asia or african countries...yes the discrimination ends if they happen to have a green or a blue card
 
@sumz - I asked them about bonus and they say that it is based on the Appraisal, manager consideration & recommendation.

I also asked them whether all my qualifications have been considered as the figure looks like that for an entry level position. They said that they have considered everything and have made the offer.

I also asked them whether they will provide accommodation or I will have to arrange for the same. They said that I will have to arrange for the accommodation and they will pay housing allowance of 1875 SAR per month. They also said that they can arrange for corporate apartment which will cost 250-300 SAR per day, this is really expensive!!!

@dreary - I am 23 now and have 1.5 years of experience after under graduation.

I am a bit confused here. If they say that the apartment rates are 250-300 SAR per day how am I supposed to manage with 1875 as housing allowance?
What are the apartment rates in Saudi Arabia? and what is the monthly expense for a decent living? Also, what are the means of communication and what are the related expenses?

Please suggest. Any help will be much appreciated.
 
gauravku.... I would say the average monthly rent is around 2000 a month.... monthly expenses shouldn't be more than 2000 a month==> utilities: 150, Transportation: 300, internet and Cell phone: 400.... food: 400... others: 300.

agree with sumz Jeddah and Dahran is better than Riyadh but Most Financial firms are based in Riyadh.

Ive been working for an investment firm in Riyadh as an Equity Research analyst for two months and I like it so far....



Edited 1 time(s). Last edit at Sunday, November 30, 2008 at 12:16PM by gab.cfa.
 
gab.cfa, thanks a lot for the information.....I am getting monthly home allowance of SAR 1875, which I believe is optimal with the figure mentioned by you....also, monthly expenses of 2000 is also fine...

Which investment firm are you working with currently and what do you suggest about the compensation which I have been offered. Please look at my earlier post for the compensation structure.

Thanks a lot for the information.
 
gab.cfa Wrote:
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>
> agree with sumz Jeddah and Dahran is better than
> Riyadh but Most Financial firms are based in
> Riyadh.
>
> Ive been working for an investment firm in Riyadh
> as an Equity Research analyst for two months and I
> like it so far....


really? may i know which company?
 
gauravku I believe you deserve more....
I work for ARFS ==> Alrajhi Financial Services...
 
I have finally planned to sign the contract and move to Saudi Arabia, I weighed my options and I believe it is a better option than the job I have in hand. Also, I plan to move for MBA from one of the top 10 B schools (globally), 2,3 years down the line. I need cash for that as well. Also, I plan to perform my best and then target for good performance based bonus.
Provided, I don't have relevant investment banking experience and I am not able to find better or similar jobs in India, US, EU or Japan (US, EU and Japan being in recession, it will take another 1,2 years for them to recover and absorb the laid off employees), I believe its good that Falcom recognized my potential and interests (I had been asked to prepare analyst report for one of the companies and provided target price and recommendation, also, they had asked for sample works prepared by me) and is offering me this position.

I believe this is a good deal provided the current scenario.

I will be glad to meet you guys when I come to Riyadh. Though its subject to VISA approvals.
 
Congrats !

Any front-office job is good under the circumstances. People are being laid off left and right and several senior level people I know have accepted 50% pay cuts to remain employed. It is an employer's market.
 
OK CONGRATS dude!

it was a tough decision...but wish you all the best...i am in jeddah fyi...but would like to get in touch some time after you come...
 
gab.cfa Wrote:
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> gauravku I believe you deserve more....
> I work for ARFS ==> Alrajhi Financial Services...


no jeddah branch of that right?
 
Is there any relation to FrankArabia or Lawrence of Arabia?

Just kidding. On a more serious note, best of luck with your new role!



Edited 1 time(s). Last edit at Thursday, December 4, 2008 at 05:07PM by numi.
 
congrats on the position..

I hope you know what you're getting yourself in for though..the lifestyle there is way different than in the west or india...but if you don't mind that too much then it shouldn't be a problem
 
@sumz - Will let you know once I reach Riyadh and if there are any chances to meet either in RIyadh or Jeddah. It was really a very tough decision, but I thought the work profile (in front office as compared to the back office work here) is worth the sacrifice and then I have to do an MBA 2, 3 years down the line which might be another break for better options.

@charlesg - Thanks for the wishes.

@numi - Thanks for the wishes, though my final goal is to enter into PE (as you are), may be after MBA. In the interim I want to learn as much as I can and develop as many contacts as possible (throughout the globe, first it was India and now might be Riyadh and may be something next).

@the eltinman - Thanks and I do understand the concerns. Lets see how everything shapes up.

I have sent the final application and the copies of certificates and transcripts to them. This might be followed by VISA proceedings.
 
eltinman, I've been there, I spent a couple of years in Riyadh. Yes the life style is different but one can live a much more comfortable life than in the U.S. and certainly better than in India, in terms of quality of housing, roads, upscale shops, etc. The only problem is if you are a woman, you can't drive, that's why you see a driver in every house. If you like bars, stay where you are! However, a short trip to Bahrain or Dubai changes all that.
 
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