MIDDLE EAST MOLE: Why a four-hour shisha session is no bad thing for you career prospects

By now you're probably staring at your newly bonus-enhanced bank account, either basking in the warm glow of a chunky payment or silent fuming about the miniscule insult, which your employer has deemed your contribution over the last year to be worth.

In our industry, the bonus is the most unambiguous way of your employer telling you what he thinks of you. Unfortunately - in my experience - even if a large bonus has been paid, most people feel short-changed. I double bonuses for some of my staff and they still complained bitterly!

So, now the game of musical chairs should be starting. At least in theory, but the lack of movement so far suggests there are going to be a few spare stools at most.

If you were paid poorly, move on - there's no clearer message that your employer doesn't want you. And if you're enjoying your new-found status as this year's super-star, you should still be thinking about how you can capitalise on this to secure a bump in pay and a promotion by switching employers.

Now is the ideal time of year to start your job search, but unfortunately it's not the good period to be looking for new employment in the GCC, so what can you do to stand out?

Develop your reputation

I hate to be the one to break this to you, but landing the right opportunity in the Middle East isn't about what qualifications you have, your skills or your track record (plenty of poor deals are evidence of this), but it's about who you know - more specifically, who knows you.

Most of the best jobs never reach the headhunters or recruiters (whatever they might tell you) and are instead filled through the relatively closed and insular community that the financial services sector in the Middle East is.

Networking isn't about meeting people at conferences

You should be working you should be working your contact network 24/7 throughout the year, as making contact for the first time in 12 months when you need a new job makes you seem desperate. Those with vacancies to fill figure this out quickly.

The tapped in operators know this and spend a good part of their week (every week) developing relationships - coffees, social events, evening shishas - with business leaders and get an update on their strategic plans (don't ever just ask them for a job though).

I have personally offered jobs to three people in the past six months over a four-hour shisha. I had known these individuals for at least four years (one of them for 10) and they had maintained and active dialogue with throughout this time, speaking to me on a monthly basis. When the right opening came up I naturally gravitated to speaking with them, rather than hoping for a recruiter, only thinking about his fee and not my needs, to find me the right individuals.

Stay informed

Keep up with which firms are coming here an which are expanding their Gulf presence. Recent examples of this include Perella Weinberg and Partners Group. These firms want talent with local experience, and colleagues of mine have made job offers to cold callers in the past.

If you read about a new division head being hired, rest assured that said individual will look to beef up or improve the existing team. Finally, if a particular sector is booming, contact the leading players - they will typically be looking to take on new blood to help them ride the good times.

Keep your profile high, even if the jobs aren't there now

You need to be networking heavily now - with recruiters (they can be useful when you need to understand market trends, less so for top level positions), industry colleagues, old bosses and past and present clients, especially institutional investors, as all banks deal with them and they hear about openings.

Make sure you understand what the market is looking for and draw out your relevant experience in general conversations with key people. As I've mentioned, it's generally not a good market - there are still a lot of people chasing limited opportunities. Prospective employers know this and are being extremely picky about who they take on, so you must work doubly hard to stand out from the crowd.

Jamal Bahir (a pseudonym) is seasoned senior private equity and investment management industry veteran based in the Middle East and Europe. He is an advisor to several ruling and trading families from the Middle East, as well as select European governments and private equity funds, advising on their investment, financial and regional political strategy. The author may be reached on jamal.bahir@gmail.com.