Job offer package for Sr Enterprise Architect
Hi,
I want to pick your brains and get your opinions on the offer I got from a big international consulting company which is involved in the health related project in Doha.
The role is Sr Enterprise Architect / 'acting CTO' (whatever that means). The total package per year (including cash allowance for housing, transportation, school, etc) consists of:
- base salary: QAR 700K
- allowance for housing, transport and school (paid as cash on monthly basis): QAR 286.4K
- yearly bonus (not guaranteed, based on company & personal performance): ~25% of the base salary, ie ~ QAR 175K
So, in total, without a bonus, the total yearly package is about 986K per year (82K per month); with the bonus - 1,161K per year (97K per month).
My question is, whether this is a good package to feed & school the family of 3 ppl (2 adults, 1 child of 15 yrs old). The goal is to save at least USD 150K-200K / QAR 550K-700K per year AND maintain a good standard of living (2 cars - small SUVs, rent a compound villa (detached or 'townhouse-like') in a good accessible area, go out to decent restaurants once a week, signup a child for activities (like horse riding).
I've drafted up some expenses spreadsheet and it looks like it might be not enough. Ie, enough for a good leaving, but not enough to save a lot of money.
My current situation: I'm independent IT consultant, earning about 220K - 250K per year in my current country of residence (Canada). Since it's under corporation, my effective tax rate is about 20% - 25%.
Considering all the above, is the package offered in Qatar worth switching the countries? How does it compare to anything else offered right now for Sr IT roles in Doha right now?
Any opinions / insights are greatly appreciated.
Steve
I wonder what more are you thinking about? From your gross take of QAR82K a month, you are still bothered by the amount the you would be able to save? Here are the approximate expenses to give you an idea. Housing QAR10-15k, School QAR5K, Cars QAR5K, Weekends QAR10K. You will still have QAR50K left in you salary. Multiply this by 12 then you will get QAR600K savings a year and you get to live like a Sheik. 95% of people here will envy you and that includes me. Sign it and come over. Good Luck.
is not possible to savve USD 150K-200K / QAR 550K-700K per year if you don't sacrifice some of your comfort.
If you insist of saving that amount a year.
I would suggest you rent a 6 room villas and rent out 4 rooms at QR 4k = QR20k per month (QR240,000 per year)
Then, Both you and your wife should buy a 7 seater and provide car lift services at QR400 per person x 6 seats x 2 car = QR 4,800 per month ( QR 57,600 per year)
and lastly don't eat at Hotel or luxury restaurant and only buy grocery from lulu hypermarket...
I am sure you can save
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I guess that 'bonus' is the real breaker, no? If you feel confident that you'll receive that then the lifestyle and savings you want shouldn't be a problem.
The offer is huge and worth considering. Savings is really dependent on how much you want to save and the kind of lifestyle you want to have here in Qatar.
You have been offered a very good salary package.
The rest, come and explore yourself. I'm sure you won't regret ever.
Thanks, QDC. I've heard really great variations in salaries. Some ppl getting USD $70K per _month_. I'm currently retaining about 100 - 110K per year (in the corporation, subject to 25% tax if I withdraw it all).
What kind of expenses per month I should be realistically looking at in Doha? I've cross-referenced my spendings over last 2-3 years and used www.numbeo.com to index them for Doha prices and got around $10K USD / 36.5K QAR per month (housing, car, groceries, etc, WITHOUT school). Is this average cost of living? Or I padded it too much?
How much would I be able to save realistically? 150K? 50K? more? less?
PS: our current lifestyle is pretty modest - no shopping sprees of $1K per weekend :), no dinners over $60 per 2 ppl (unless occasionally)...
You will save money but no where near what you have estimated. Please be aware the the package you are stating is much more than 99% of what people earn on this forum
.. and yes, the company does provide health coverage. Package seems to an 'ok' one, not perfect (especially in dental care department), but decent.