I am currently considering a move to work in Riyadh. I have heard all the horror stories of just how boring and restrictive it is to live out there, and how difficult the working environment can be, but the work being done out there does sound good (I am a three-years' post-qualified male finance lawyer working in London).
How will two years in Saudi look on my CV - and is it safe?
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I have been here for about 10 months and believe me, life is too dull and boring...(no beer, no cinema/theatres, no active social life... the list goes on).
And the biggest problem is...being a bachelor you are not allowed entry in good shopping malls on weekends (thursday & friday).
The only bright spot is money. In terms of work & professionalism, the markets are very very primitive... don't have high expectations working here.
After having stayed here for 10 months, I am leaving by December '08.....
Wanna work here, then come only for money.....expect nothing else....
Wish you all the best and wish me too...
Think: Milton Keynes with sand and no women. Best stay in London. The only good reason to go out to the Middle East is for a very big pay packet or a firm that wants to set up there and are prepared to fast-track associates to partnership in return for a couple of years penance.
Apart from the money it is absolutely dire. The social life is awful and the horror stories are often true. The only interesting thing was actually getting to meet some Saudis but that was often socially difficult. It was such a relief to leave.
My partner's assistant was sent out there on secondment for two three-month stints and he went a bit bonkers. It took ages for him to get back to being even remotely normal when he got back. The pay is good though! I have a family member working in Dubai at the moment and she says it's a pretty insane place to work, but at least she's allowed in there, which is more than can be said for Saudi.
One of my friends went to work there last month. Haven't had any news of him yet. However, I guess you'll get a good grasp of Islamic financing and develop an expertise in oil project finance. I would think twice.
Are you going there with your existing firm? In which case you should get some sort of promise for when you come back - it is a hardship posting. If it's a new firm, you're cannon fodder. If it's a one-way ticket, the short-term financial gain is unlikely to be worth the hassle of finding alternative work in London to get out of there. Plus London money is not bad, is it? It's different if you're going out there a a banker, because the massive package might make it worthwhile even if it's a short stint (guaranteed bonus etc). Not so if you're a lawyer. Are you set on Saudi Arabia? You might consider Dubai which is much more free and cosmopolitan, though cost of living is now very high. Good luck. PS In response to a previous poster, if you want to see some Islamic finance and/or project finance work, you can stay in London and get that, and arguably you will get a better mix of such work in London, not just Saudi deals.
Can Investment Banker confirm the massive package?
Ask yourself: for how much money would you move to a country where all women wear black robes showing nothing but their eyes and where there is a genuine risk of suicide bombings? If you can actually name a price, there won't be a shortage of law firms that are willing to meet it as nobody is dumb enough to move over there.
Wouldn't bother. Can't see it would add anything meaningful to your CV unless you want to specialise in Middle Eastern finance work, and value money above generally accepted norms of humanity. The human cost of living there is not outweighed by any career benefits.
As for if it's safe: read the F&CO website for travel advice and decide for yourself.
Quite possibly the worst place on the planet for a single man to live in.
Lawyers are moving offshore due to:
(a) High income tax rate in the UK;
(b) High rent prices;
(c) High travel cost and polluted, crowded trains (stinky as well, phew!); and
(d) Massive rush hour traffic;
(e) Even a pint of lager is expensive.
In London, at the end of the day, lawyers save peanuts!
Working as a lawyer in London is not very attractive these days, especially if you compare it with places such as Singapore, Hong Kong, Bermuda and the British Virgin Islands where things have improved, deals are more complex and, for example Singapore, the environment is safer.
As a headhunter working with many firms in the Gulf I would say that Saudi has the LEAST appeal for both me and the lawyers I am recruiting. As many others above have indicated, the cultural differences are almost insurmountable. If you are serious about developing your Islamic/Sharia finance expertise, there are quite a few other places that make sense to go for over Saudi. In no particular order: Dubai, Abu Dhabi, Oman, Qatar, Bahrain.
Best of luck, but I would suggest that Saudi is just that cultural step too far for a London lawyer who likes to enjoy himself.
It won't do much for your CV, but will do wonders for the bank balance. It seems the going rate is a fantastic 1.5-2 x Dubai salary (which is already generous at London gross tax-free).
I would need buckets of whiskey to get through all of the meaningless opinions you will have to write - don't be fooled into thinking that you will learn anything about projects - all the real work takes place in Dubai.
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