I took a job in one of the hardest hit areas of the Middle East financial sector at the height of the crisis and have managed to secure a 60% pay increase during my first 18 months in the role. Doing the same yourself is relatively simple – all it really takes is a change in your attitude.

Since 2009, it's been an employer's market in the regional financial sector. Add in the fact that I work in real estate investment – an area that's arguably been the hardest hit in the Middle East – and, for me, the glory days of job-hunting are long gone.

Back in 2007, it was possible for any vaguely qualified individual to secure a role in the Middle East financial sector with minimal effort. When I first arrived, I set up five interviews in five days, received an offer for each one and was able to play potential employers off one another to the point where the bidding war increased my salary by 50%.

You're dreaming if you think the situation is even vaguely reminiscent of this currently, but many job-hunting now – particularly in wholesale banking and private equity – still focus on a combination of remuneration and job seniority. The reality is that this short-term approach isn't the best one to take.

The long-term factors to consider

When I looked for my new role in 2010, I decided to put concerns over money to one side and really examine what the position offered. I looked in detail at the job and the company descriptions.  Was this a company that would execute deals? Are they fully funded? How direct is my role in the transactions? What’s the growth potential? Do the company goals align with my long term interest? How comfortable am I with the management? The only question I did not consider was compensation.

After six weeks of searching I was given two offers, both from very reputable companies who were fully funded and active. One was the perfect role, although based in the less desirable Kuwait, but the compensation was bad. The salary on was 40% less than I was earning at the time and just below the low range of the various regional salary surveys. There was also no contracted bonus.

However, management seemed of high calibre. The firm also invested 100% in the US and Europe and expected to open offices in these countries in the next couple years – this is where I ultimately wanted to be based.

The second offer was for a position which tapped into just half of my skill set, was based in the much more vibrant location of Abu Dhabi, and was 100% UAE-focused investment. The management team was not as impressive, but the salary was 72% higher than the first offer and included a minimum guaranteed bonus. The company name would also have provided a boost for my CV.

The realisation that my attitude had shifted

Four years ago, I would have snapped up the second offer without hesitation. Even at the time of the offer, I felt it was a stable choice and one where I could save money and improve the quality of my CV. But the first job in Kuwait presented an opportunity to do exactly what I wanted long-term – both the role itself and the potential for working in a Western location.

After the interview for the first offer, I made it clear that I was willing to accept a lower salary and then try and prove that I was worth more than the initial offer. The CEO agreed and I accepted the job. I hedged my bets that the worst case would leave me with some good deal transactions under my belt, even if the salary increase didn’t materialize.

This was a risk, as I was given no guarantee of any salary increase or even a bonus. It's now 18 months later and I've worked hard, received two raises totaling 60%, as well as a bonus far greater than I would have received at the other position.

What's more, the other reasons I accepted the job have come into fruition; I have done more transactions than most of my peers in the same time period and my network and experience in Europe and the US have developed nicely.

I also feel good about myself, and am left with the slightly novel feeling of believing I've actually earned my salary and bonus.

The author is a senior private equity professional based in Kuwait