Finance Professional Package

Topic locked
  • Reply
Finance Professional Package Oct 07, 2008
Newbie looking for advice. I am looking for some insight / opinions on a package for Dubai.

My background: 4 years finance experience in a brand name corporation. Another 4 years of professional experience in a non-related function. Graduate degree from top notch insitution. I don't know that it matters but I am single and from a western country.

My package: It works out to a total of 38,500 AED per month for salary plus allowances (housing, transportation, etc.). Ticket back for visits annually. A decent sign on bonus and performance based annual bonus that sound fair relative to the annual salary.

So, is this ok? Am I going to be able to live comfortably in Dubai on it? Is there anything that is not addressed that I should be concerned about? Thanks in advance for any constructive feedback.

Peshorper
Dubai Expat Wannabe
Posts: 5

  • Reply
Oct 08, 2008
Pretty good for opening, although they/ you don’t specify the allowance portion; get them to commit to firm figures for each of the mentioned items as they can vary tremendously.

As an example, if they are going to give you 5,000 per month for an accommodation allowance, you would have to subsidise this amount from your salary to be able to afford a decent one bedroom apartment (let alone a villa).

Tickets are standard fare for most companies.
Ask about private medical insurance, not government medical card.
How much leave, again get a commitment in writing, the standard is 30 days per annum.

The most important thing here is to get a firm written commitment on the “bonus” and incentive portion of your remuneration. It needs to have a method agreeable by both parties with regards to evaluating performance and then a fixed scale based on the basic salary at the time. No conditions attached to the duration of employment etc. also insist on quarterly or 6-monthly evaluation and reward. Most people I know who have worked on a “bonus” scheme have been screwed over. The most important thing is to ensure that the bonus scheme is written into the English/ Arabic labour contract – no other contract or verbal arrangement is legally enforceable!
dbxsoul
Honored Member
User avatar
Posts: 1626
Location: Dubai

  • Reply
Oct 08, 2008
The vagueness is more my doing. The salary allowance ratio is roughly 60:40; the offer does break it out. The vacation time on offer is also 30 days.

The insight into clarifying / formalizing the bonus scheme and health portion are points I need to focus on. Thanks again.
Peshorper
Dubai Expat Wannabe
Posts: 5

  • Reply
Oct 27, 2008
Medical is a few hundred dhs (300 dhs?) per year for government health card, and several hundred per month at least for private.
bonk
Dubai Master of Thread Hijackers
User avatar
Posts: 1511
Location: Dubai Zoo

posting in Working in DubaiForum Rules

Return to Working in Dubai


cron