counter-offer of QAR 20k all inclusive ** HELP **
Ok so I had been asked by this bank to let them know what my salary expectations were for a grade 6 ( 1 is highest ,8 is lowest) managerial position on their corp banking side.
No seperate allowance offered ( except annual airfare of QAR 12.5k) and the number had to be all-inclusive .Bonus for avg performers has been around 6 mths salary and 12-16 mnths for top performers .These however are also dependent on the banks performance
After some number crunching and looking at comparative salaries here in the US ( I'm a US citizen , 2006 MBA grad with about 3.5 yrs of experience) - I said QAR 29000 p.m.
The bank came back with a counter offer saying....
(1)QAR 20 p.m is what they can offer and its "unlikely" for someone @ grade 6 to get offered 29k
(2) They want me to consider the bonus potential etc etc
While theres not a snow flakes chance in hell that I'm taking it up @ 20k - I would consider it @ 25k p.m and will communicate that to the person I've been talking too .
Any suggestions or feedback on how to best negotiate this (besides letting them know my min is QAR 25k) would be much appreciated.
BTW did I mention I'm married ? The Mrs is currently working in Qatar.
**thanks all **
viRt
Do call them. Let them know that you are interested. But dont imagine yourself started working in May. Apart from the laziness, being a foreign bank they are bound to be bugged with qatarization and such issues.
Ohh I knew the bank all along. H is the only bank which has a band 6 position vacant at the moment. A position envied by many. Inside and outside. And this year is kind of special for HSBC. Lot of changes - New cards in June, New systems in September and a brand new excellent HQ in late November.
Come to qatar and try it. Who knows?? Maybe u'll just fall in love with the life here.
Gud luck
This is one reason why I'm planning to leave education and get into banking and accounting. The pay in education really is not that high. I thought QR20,000/month was the cats meow but now I can see that it isn't. The only reason to stay in education is if you have a passion for teaching, you enjoy teaching, and you like seeing students succeed. If not, pack up your bongos and do an MBA, etc.
I'll see you in MBA school, guys!
get back with a response Rael , but in this case I think its worse. I just might have scared them away by asking them to consider QAR25k p.m.
I've heard the bit about things taking for ever to get done - including from the guy who I had interviewed with in New York.He had worked for sometime in Turkey & Dubai for the same bank . More than anything ,its a cultural thing, atleast as far as local go.
And yes...ur suspicions about what bank we are talking about are correct.I thought I had confirmed them when the "red hexagon" thing came up :-) .
Should I call them up or wait it out ? I'll be travelling to Doha Insha'Allah early May .
arrghhhh !
Ohh dont worry.
People here are lazy butts. Your application is unfortunately sitting on a very important issue right now...
"COFFEE" and then the tel no to the nearest Cafe.
So patience, this kind of luxury takes time to come.
Well while you are doing the waiting thing. Do this research...
Find out what the agendas of banks (even the one you intent to join - my psychic intuition tells me its HS**) (and most workplaces) in qatar are for 2008. If it is anything more than these, then u r not in Doha.
redecorating our headquarters,
opening one more branch in Doha, (They've got just one city and look what they do with it - Thats called utilizing available resources),
launching the same credit cards in a new colour and design
research, training, blah blah blah (all strictly promises only),
Maybe start a new advertising campaign.
I dont even understand how this country is progessing.
Well maybe that explains why the Bush family goes to war for Oil and Gas.
The most development that happened in the financial sector in Qatar in the recent years is PEARL. And foreign Banks are not allowed to even go anywhere near this Pie.
Today they announced that Barwa is going get a Bank. After say 5 years, we all will get a bank each from Carrefour for the purchase of fifty riyals or more. FREE
No offences meant to anybody, but if any of you come across a more lazier country, please let me know. Ohh I dare u to find one.
I actually looked up their logo . Helps to know they provide comprehensive medical . I'll be sure to get secondary coverage when on my rambo-quest's Rael :-) .
But seriously guys - Its been a week & I havent gotten a response to my email asking them if QAR 25k is workable. Should I call ? Dont want to come across as to eager now ,but considering they've always responded only after a call or 2 it wont be that unusual or out of the ordinary. I hope the will guy respond, even if the answer is no-can-do.
also Rael/Smoke/Mariam - if any of you have contacts in the financial services sector ,hook a brother up !!!!
appreciate all the feedback guys !Thanks :-))
Well about medical...
'The red hexagon' provides full medical insurance to your family (spouse and kids) excluding dental around the world. Provided by AliCo (not very sure of providers).
CBQ provides full medical insurance to family (spouse and kids and heard rumors that even parents are included) including a certain amount for dental. Full insurance in qatar and some GCC countries, limited insurance in other countries.
DB provides same coverage as HSB except theirs is not fully insured outside qatar.
NOTE: War zones are stricly not included. Dont try to be Rambo.
Ohh yes, all banks in qatar(as far as my info goes) has a probational period from 3 - 6 months.
HSBC - 3 months
CBQ - 3 months
DB - 4-5 months (expatriates), 2-3 months (locals)
IBQ - 6 months (expatriates),3 months (locals)
you both have valid points. That said ,with my wifes US immigration around the corner I'm on the fence regarding relocating to Qatar . A better offer from the bank would have made that decision a lot easier.
Smoke - not to be greedy ,but simply put it didnt make much sense for me to go thru all the trouble of relocating for the same amount of $QAR$ - tax-free or not.
Mariam - now that you mention it , I'm not sure if there a probationary period or not. Good call. I'll be sure to get that clarified. It is a perm position tho.
In any event, I've responded to them asking if they can meet me @ 25k.
Theres just too many other variables involved and in my mind if I can get what I'm asking for - all other considerations would fall in place.
arrrrghhhhh - this is annoying
**peace&cheese**
vIRt
Virtual, i think Smoke have a point. That would be a good start, usually this offers are in the probationary period, are you offered permanent or temporary? This also make it different. Come on join us in the Banking...
"There's nothing we can do to change the past, if it teaches you a lesson profit from it then, forget it."
well in my opinion if your Mrs is working here and u get offered 20k think u should take it..its not like you'll be starving at that salary, plus u'll be with ur wife..that should count more than money :) Plus think of the combined income of you and ur wife...lets not get too greedy now. Oh and did you say they are offering you a Managers position after you have just 3.5 yrs experience...which bank might this be?
_[]~SMoKE~[]_
thx Rael for responding to both my post's. Appreciate the insight. btw - do you know if they offer comprehensive medical coverage for self & family , or is it out of pocket ?
OK well first of all. The average salary of a Grade 6 here is 20K and the highest anyone ever got (in band 6, as far as the data available to me goes) is 28k. So, yes you are not (in my opinion) very likely to get 29k. But 25k is very reachable.
I wud certainly not tell you that Qatar is better than the US. Maybe safer and calmer (thats my personal opinion). Certainly warmer. But then again, your other half wud tell you all about it.