Accounting practices in Middle East (Esp for Pracs

Bowman · 11-11-2004, 03:53 PM

Hi all and especially to Pracs

I understand that you have been working with EY Middle East for quiet some time. I need to have some information

1 - How is EY Middle east as a working place/environment?

2 - Which office is the better one of following Bahrain/Dubai/Muscat/Kuwait?

3 - What shall be the minimum pay in USD at any of these offices?

4 - How much does it costs (average) if one lives with family at any of the places?

5 - Whatz the expected worth of a Middle Eastern EY Professional Experience in Pakistan after say about 6/7 years?

Please keep in mind that I am asking with reference to an ACA and CIA with more than 3 years PQE in financial institutions.

An early response will be highly appreciated.

Thanks

Pracs · 11-11-2004, 05:18 PM

I have worked with Deloitte. in Dubai for three years and have moved on to a bank - internal audit. However, I have an idea about other Big 4 in the UAE and other middle east markets and will try to be objective.

Here is how I see your querries

Ques
1 - How is EY Middle east as a working place/environment?
Answ
Its a good professional market (Big 4, MNCs, Banks and large companise only). The work environment can be to some extent compared with the first world and one gets the opportunity to work with a host of nationalities at times upto a dozen ! Practices usually cater to long work hours compared to industry here.

Non work place environment differs greatly from city to city I'll put Dubai on top (with regards to facilities and the general feel good environ) and Riyadh at the bottom of the list.

2 - Which office is the better one of following Bahrain/Dubai/Muscat/Kuwait?

I gather that the head office of EY for the region is in Bahrain, but I hear that the offices in Kuwait are very good with Europeans/western management at the top (which is always good compared to arabs or pakistani / indians). Muscat must be a small set up. In Dubai EY is ranked at no.2 (after the Andersen merger) and have a huge list of clients. Pay wise all Big 4 fall within the same categoery in Dubai except for KPMG (more of a labour camp).

3 - What shall be the minimum pay in USD at any of these offices?
Well for a a newly qualified ACA I'd put the tag at USD 1,600-2,000 for some one with three years PQE USD 2,500-3,500 (the higher side only in industry).

4 - How much does it costs (average) if one lives with family at any of the places?
Dubai/Abu Dhabi is the most expensive with a cost of a family (couple one child) renting out a one bedroom appartment, a leased car, and life style comparable to that of a CA in Pakistan will cost you something like USD 1,300=1,500 on an average.

Muscat, Kuwait and Saudi cities (I am not sure about Bahrain) are cheaper because of the rent which is around 60% of the cost quoted above.

5 - Whatz the expected worth of a Middle Eastern EY Professional Experience in Pakistan after say about 6/7 years?

I am afraid it won't add any thing to the career, middleast is just good for making money especially if you continue to work in Practise (since there are no taxes, major corporate laws here and you loose sight of what is happening in Pakistan). Better career prospects for people working in MNCs or Banks (where the compatibility still exists)
Most professionals in the Middleast use it as a launching pad to move / migrate to the West where expereince is highly valued in Pakistan.

Having said that I have seen people working in Practice here moving on to Pakistan at 'Director' level in large Pakistani/MNC Companies in Pakistan.

Please feel free enquire further if I have left out something or You need further information.

"Allah does not change the state of people unless they change what is within themselves" Quran 1311

Edited by - Pracs on Nov 11 2004 122051 PM

Bowman · 11-12-2004, 04:27 PM

Thanks a lot for a detailed and prompt reply.

Well a couple of questions again

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>

Practices usually cater to long work hours compared to industry here.

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Define long work hours!. Whatz the norm in a week?

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3 - What shall be the minimum pay in USD at any of these offices?
Well for a a newly qualified ACA I'd put the tag at USD 1,600-2,000 for some one with three years PQE USD 2,500-3,500 (the higher side only in industry).

<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

What are the components of this figure usually? I mean that say USD 2500 pm; is it inclusive of medical coverage, bonus, leaves, air tickets etc or are you talking about basic plus allowances only.

Secondly, i believe that there are no personal direct taxes in all 4 places asked in my above post. Please correct me if i am wrong.

Pracs · 11-12-2004, 08:45 PM

QDefine long work hours!. Whatz the norm in a week?

Awell most big 4 run 5 hour work weeks with atleast 10-12 hours as a norm.

QWhat are the components of this figure usually? I mean that say USD 2500 pm; is it inclusive of medical coverage, bonus, leaves, air tickets etc or are you talking about basic plus allowances only.

AThis would be the take home gross dollar amount, inclusive of accomodation etc. medical is usually contracted out to isnurance with minimum deductions on the part of the employee for each visit to the doctor usually a USD 25. Some travel allowance other than this salary may be admissiable on travels outside the city (industrial estates) or other cities.

QSecondly, i believe that there are no personal direct taxes in all 4 places asked in my above post. Please correct me if i am wrong

A Your assumption is correct, there is no personal tax in any of the Gulf countries yet!

"Allah does not change the state of people unless they change what is within themselves" Quran 1311