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UAE Salary Guide 2012 - Morgan McKinley


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The 2012 UAE Salary Guide from Morgan McKinley. The guide is a snapshot of popular jobs and salaries in the UAE across the following four areas: …

The 2012 UAE Salary Guide from Morgan McKinley. The guide is a snapshot of popular jobs and salaries in the UAE across the following four areas:
• Banking & Financial Services
• Accountancy & Finance
• Technical (engineering, supply chain & logistics, construction & energy)
• Sales, Marketing & Support

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  • 3. MANAGING Welcome toDIRECTOR’S Morgan McKinley’s Three bodies: Abu Dhabi Council for Economic Development (ADCED), Dubai Competitiveness UAE Salary GuideLETTER. 2012 Council and, at federal level, the Emirates Competitiveness Council (ECC) have the joint aim to align the UAE’s laws, regulations and Welcome to our annual UAE Salary Guide for policies to the best practices in the world for 2012. Firstly I’d like to outline the methodology promoting innovation, technology development we have used in compiling this market and entrepreneurship. intelligence. The upshot of all this will be an open, It is not intended to be a holistic guide to every transparent labour market in which employees job in every sector. Rather, it is a snapshot of are paid a more stable market rate. the most popular positions from mid- management level upwards within our four As the economic boom reached its zenith, Gulf specialist divisions: Banking & Financial Business talked of a ‘war for talent’ in the UAE Services; Accountancy & Finance, Technical; as salaries sky-rocketed in line with increased Sales, Marketing & Support. demand for highly qualified expatriate and local candidates. The following downturn cut deeply It should be acknowledged that in order to into the workforce and rightsizing of both arrive at these results we have accounted for salaries and headcount was all too apparent. a number of dissenting criteria, including job title; company; nationality; relocation The last two years have seen a further packages; geographical dispersion; bonus correction and we are left with a more stable sizes; longevity in the market and competitive salary structure inline with inflation: acute salary edge. swings will be restricted to disciplines with a skill set or language shortage. For everyone else, a Job opportunities are up across the board on remuneration uplift of over 15% is likely to 2010 and 2009 numbers but still 40% down on remain a distant memory. 2011 for the same time of year. We hope you find the insights within this report Abu Dhabi in particular has witnessed an interesting and welcome any feedback. exponential rise in vacancies, although less heavily weighted in the public sector than at Trefor Murphy any point in the last five years. Managing Director | UAE T: +971 (0) 4 324 4094 Market competitiveness has received a significant lift from the freedom of movement driven by the labour reforms at the beginning of 2011. 2
  • 5. BANKING & FINANCIAL SERVICES.MARKET INSIGHTSHIRING TRENDS TALENT SUPPLY SALARY & COMPENSATION TRENDSLast year was interesting in terms of There is certainly a strong supply of Its obvious to say that the best peoplebanking recruitment; we started with a talent available within the market and this will always command the best salaries,sense of optimism and belief in the is a great opportunity for senior but in the current market, it is even moremarket followed by uncertainty and management to improve their capabilities so.deterioration of confidence due to the with investment in markets. There is a lot of talent now on the Investment bankers who wish to remain market; however our clients want peopleInternational banks have looked at in the Middle East are looking at areas who will bring in the business, whether itreigning in their international exposure, they may not have once considered. be corporate, investment or privaterecalling teams of bankers back to their Regional banks and sovereign wealth banking and wealth management.regional hubs and leaving a much funds are all taking advantage ofsmaller team of regional managers and seasoned bankers to add value to their For those who have a proven trackoriginators in place. current offerings. We are also seeing a record in delivering business there will willingness for bankers prepared to look always be interest. For employees tryingRegional banks and sovereign wealth outside of the UAE and consider posts to tempt these individuals who are happyfunds have been able to take advantage further afield. in their current roles they will have to doof the talented bankers wishing to remain what it takes, however, it is still likely thatin the region and strengthen their teams. The private banking industry also aims to professionals will face an intenseAs for 2012, recruitment for Q1 and Q2 attract a new generation of investors, a interview process.has and will be relatively modest. new set of skills, experience and talent are in demand in order to differentiate If we are looking at the middle and backConcerns about Europe, the Arab Spring themselves from competitors. office areas within financial Institutionsand the media attention on bonus there are generally modest salarypayments have all had varying affects Job seekers that are trilingual and those increases. However, strong compliance,on the confidence of the International that possess excellent relationships are risk and treasury professionals are all inand regional banks. more in demand now in comparison to demand and will command premium the traditional ‘FS experience only’ increases. attitude. All in all we see modest salary increases for 2012. 4
  • 6. BANKING & FINANCIAL SERVICES.RISK & COMPLIANCE SALARIES (AED PER MONTH) Analyst / AVP / VP / Director / MD /Role: 0-2 years 2-5 years 5-7 years 7-10 years 10+ yearsMarket Risk Management 15,000 22,000 29,000 38,000 60,000Market Risk Control 15,000 22,000 29,000 38,000 55,000Investment / Portfolio Risk 17,000 23,000 28,000 37,000 60,000Credit Analysis 15,000 22,000 27,000 38,000 55,000Credit Risk Control 16,000 23,000 28,000 37,000 56,000Operational Risk Management 15,000 23,000 29,000 36,000 55,000Quantitative Risk Analysis 15,500 22,500 30,000 38,000 57,000 5
  • 7. BANKING & FINANCIAL SERVICES.WEALTH MANAGEMENT & PRIVATE BANKING BASIC SALARIES (AED PER MONTH) Analyst / AVP / VP / Director / MD /Role: 0-2 years 2-5 years 5-7 years 7-10 years 10+ yearsPrivate Banker 25,000 35,000 40,000 55,000 85,000Investment Advisor / Consultant 20,000 25,000 45,000 65,000 100,000Product Specialist 20,000 25,000 35,000 50,000 75,000Investment Analyst (Fund of Funds) 20,000 30,000 45,000 60,000 85,000Investment Strategist / Economist 15,000 30,000 45,000 60,000 85,000Trader / Dealer 20,000 35,000 50,000 80,000 100,000 6
  • 9. ACCOUNTANCY AND FINANCE.MARKET INSIGHTSHIRING TRENDS TALENT SUPPLY SALARY & COMPENSATION TRENDSThe sectors of real prominence for The GCC continues to be an attractive Salaries were expected to rise by 6% infinance professionals in the past year destination for professionals, particularly 2011, with analysts and CFO’s expectinghave been oil and gas, professional those from the EU’s more challenging increments at around the same level forservices, social media and technology. economic environments. 2012, according to various mediaA large percentage of hires have been sources. We have seen an increase ingeared towards the mid-level market, applications from Greece, Italy, Ireland Long gone are the days of incrediblewith the aim of organisations looking to and Spain, as well as increased interest salary increments, however the steadydevelop talent who will become future in GCC countries which have historically annual increases in the UAE, are stillleaders. This is where highlighting found it difficult to attract oversees talent. some of the highest globally. Therefore,achievements and value-add become why you want to move should not be As the region establishes its talent pool,pivotal when looking for a move or the subject of relocating individuals is geared completely towards salary, butpromotion. increasingly difficult; apart from the opportunity a business is offering. instances where specialist technical orJob seekers with analytical and industry experience is required. Bonuses have also steadily improvedmanagement experience have been high from the tougher times of 2009/2010,on companies hiring agendas, with a rise Finally, whilst companies continue their with more investment and confidenceof commercial roles filtering through. It’s commitment to nationalisation, there is filtering it’s way into the market. also a trend towards hiring professionalsimperative now to have the excellent who are committed to the region,accounting knowledge, as well as the particularly those who are fully bilingualpersonality to fit a company. in Arabic and English. The demand for talent is still highespecially amongst multinationals, butthe need to ‘sell yourself’ is stillsomething that job seekers need toaddress. 8
  • 10. ACCOUNTANCY & FINANCE BASIC SALARIES (AED PER MONTH) PartRole: Newly Qualified 2-5 years PQE 5-7 years PQE 10+ years PQE QualifiedChief Financial Officer * * * 50,000 70,000+Financial Director * * 40,000 45,000 60,000+Financial Controller 20,000 25,000 30,000 40,000 50,000+Financial Planning Analysis Manager 20,000 25,000 30,000 35,000 45,000+Finance Manager 18,000 23,000 30,000 35,000 45,000+Business Analyst 15,000 20,000 25,000 30,000 30,000+Finance Analyst 15,000 20,000 25,000 30,000 30,000+Systems Accountant 15,000 20,000 25,000 30,000 30,000+Chief Accountant 18,000 25,000 30,000 35,000 40,000+Financial Accountant 16,000 20,000 25,000 30,000 35,000+Management Accountant 15,000 20,000 25,000 30,000 35,000+Head of Internal Audit * * 30,000 40,000 45,000+Internal Audit Manager * 25,000 30,000 35,000 40,000+Internal Auditor 15,000 18,000 25,000 30,000 30,000+ 9
  • 12. TECHNICAL.MARKET INSIGHTSHIRING TRENDS TALENT SUPPLY SALARY & COMPENSATION TRENDSOil & gas, power and heavy industry is On a global scale, construction While the cost of living within theproving to be especially buoyant in 2012 professionals are still the hardest hit emirates has decreased since 2008and is driving recruitment across the talent pool of professional oversupply many analysts are witnessing a turningboard within the Middle East. while companies recruiting across point in 2012, both in accommodation logistics, energy and manufacturing are and general living costs and this can actAs companies continue to review competing for a limited talent pool as as a major deterrent for overseasperformance and overall costs, an geographic boundaries become less professionals looking to relocate,awareness of the importance of defined. especially as expatriate packages inimproving cost, systems and procedures recent months tend no longer to includedue to their impact on bottom line is Running parallel to the increasing cost of generous perks such as fully paidmuch in evidence. More and more firms living, the Middle East has also accommodation and company the region are therefore seeking experienced stronger competition fromexperienced professionals to improve other regions for qualified staff. In Having said that, within the UAE 48% oftheir sales, tendering, IT and supply particular, China, India and South East employees received a pay increase ofchain functions, which in turn is driving Asia are offering viable alternatives for more than 8%* at their last salary reviewtrends within recruitment. employees. and 49% believe they will receive more than an 8% increase at their next review.Leading organisations have reported India will have a huge talent requirementbetter results in this region than in the next five years and with rising These figures should take into accountexpected. Amidst the credit crisis, many salaries in that market we are already recent increases in salaries for manystrategic tools like outsourcing and global seeing many Indian nationals returning Emirati employees working forsourcing gained more importance in the home for better prospects. Government & Semi-Government bodiescontext of restructuring organisations. in 2011/2012. This underlines the necessity forAlthough a skills shortage is apparent in companies to provide innovation and *Source: - 2011many industries within the Middle East, flexibility in salaries, remunerationwe are seeing companies across the packages and the work environment.globe struggle to recruit experienced andqualified professionals within this market. 11
  • 13. TECHNICAL.ENGINEERING BASIC SALARIES (AED PER MONTH)Role: Junior Mid Level Senior LevelManaging Director / CEO - Multinational * 75,000 95,000Manager Director / CEO - SME * 60,000 80,000General Manager - Multinational 40,000 55,000 70,000General Manager - SME 35,000 45,000 65,000Technical Sales Manager 30,000 35,000 50,000Sales Engineer 12,000 18,000 30,000Plant Manager 20,000 27,000 35,000Process Engineer 12,000 17,000 25,000Operations Manager 25,000 35,000 45,000Estimation Engineer 7,000 11,000 14,000Technician 8,000 12,000 15,000Technical Engineer 10,000 14,000 18,000Engineering Manager 25,000 40,000 70,000HSQE Manager 20,000 35,000 55,000Production Manager 20,000 30,000 40,000Production Team Leader 8,000 15,000 25,000 12
  • 14. TECHNICAL.CONSTRUCTION & ENERGY BASIC SALARIES (AED PER MONTH)Role: Junior Mid Level Senior LevelConstruction Director 50,000 70,000 80,000Construction Manager 35,000 45,000 55,000Project Manager 25,000 35,000 50,000Quantity Surveyor 12,000 18,000 35,000HSE Engineer 15,000 20,000 30,000Civil Engineer 15,000 22,000 30,000Architect 18,000 25,000 45,000Design Engineer 12,000 20,000 30,000Estimation Engineer 7,000 11,000 18,000Technician 8,000 12,000 15,000Technical Engineer 10,000 14,000 18,000Project Controls Manager 25,000 40,000 60,000Power Plant – General Manager 40,000 55,000 70,000Power Plant – Operations / Maintenance Manager 30,000 40,000 50,000 13
  • 15. TECHNICAL.SUPPLY CHAIN & LOGISTICS BASIC SALARIES (AED PER MONTH)Role: Junior Mid-Level Senior Level ExecutiveRetail Buyer 8,000 15,000 25,000 40,000Demand Planner/Analyst 10,000 18,000 25,000 35,000Procurement Specialist (Services) 14,000 20,000 35,000 60,000Procurement Specialist (O&G and Eng) 15,000 20,000 40,000 75,000Inventory Planner 10,000 18,000 25,000 35,000Supply Chain Manager 18,000 28,000 45,000 75,000Warehouse Manager 15,000 20,000 30,000 35,000Operations Manager (Distribution) 25,000 30,000 35,000 45,000General Manager 30,000 35,000 50,000 75,000Freight Forwarder 8,000 10,000 18,000 25,000Transport Manager 18,000 25,000 35,000 45,000Logistics Manager 15,000 20,000 30,000 35,000Logistics Coordinator 8,000 14,000 18,000 25,000 14
  • 17. SALES, MARKETING & SUPPORT.MARKET INSIGHTSHIRING TRENDS TALENT SUPPLY SALARY & COMPENSATION TRENDSWithin the sales sector, we have seen a In marketing & communications there Marketing, advertising and brandingrelatively constant flow between supply has been a marked shift from relocating agency salaries are streamlined andand demand, particularly within media professionals outside of the region to benchmarked against each other. Theand events. The FMCG market is focusing on existing talent though we five employers of choice in eachgrowing and with global brands have seen a greater demand placed in discipline for example, are closelyexpanding across the region there is a the digital sphere, with the relocation of assimilated which can adversely affectneed for talent with specific specialisms. job seekers from the West. The significant movement.Whilst the market remains tight, good sophistication and quality of the marketquality sales candidates are always in has been recognised by international On the sales front, redundancies anddemand. awards in 2011 but it is hoped that commission-only packages are standards continue to rise if this becoming less common. OTEs for salesMedia and communications has also momentum is set to continue. employees have started to pick upseen increased demand since the although many local businesses anddoldrums of 2009. Employers’ needs are The sales market is in rude health, any SMEs still lean towards a heavilymore specialist, and quality is still at a sales people who have survived one of weighted commission element in theirpremium, which has led to a willingness the steepest downturns in history are set package source staff from outside the region. for a successful future once the marketAdvertising and media are hiring heavily, responds to a more positive stimulus.particularly in the digital sphere. PR hasseen a major shift post-recession.Agencies and companies are generallyless likely to relocate talent outside of theGCC as demand for local experiencegrows. 16
  • 18. SALES, MARKETING & SUPPORT.ADVERTISING, MEDIA & BRANDING BASIC SALARIES (AED PER MONTH)Role: Junior Mid Level Senior DirectorAccount Management 7,000 -10,000 11,000-15,000 15,000-29,000 30,000-45,000Planner 10,000 -13,000 14,000-20,000 21,000-30,000 31,000 +Business Director 15,000 -18,000 19,000-22,000 23,000-30,000 30,000-40,000Media Buyer/Planners 8,000-11,000 12,000 -16,000 17,000-20,000 21,000-30,000 17
  • 19. SALES, MARKETING & SUPPORT.CREATIVE BASIC SALARIES (AED PER MONTH)Role: Salary/monthJunior Copywriter 10,000-15,000Midweight Copywriter 15,000-18,000Senior Copywriter 18,000-27,000Junior Art Director 10,000-15,000Midweight Art Director 15,000-18,000Senior Art Director 18,000-27,000Senior Designer 18,000-27,000Associate Creative Director 27,000 -31,000Creative Director 31,000-42,000Executive Director 43,000-70,000 18
  • 20. SALES, MARKETING & SUPPORT.MARKETING & COMMUNICATIONS SALARIES (AED PER MONTH) RegionalRole: Entry Experienced Manager Manager DirectorMarketing 15,000 18,000 25,000 32,000 40, 000Brand Manager 15,000 20,000 25,000 30,000 38,000Sales Support / Investment Communications 15,000 18,000 22,000 26,000 35,000Product Marketing / Specialist 17,000 20,000 28,000 34,000 42,000Internal Communications 17,000 20,000 28,000 34,000 42,000E-Marketing 18,000 20,000 28,000 34,000 42,000Events 16,000 19,000 25,000 30,000 38,000Project Management 17,000 20,000 28,000 34,000 42,000 19
  • 21. SALES, MARKETING & SUPPORT.PR BASIC SALARIES (AED PER MONTH)Agency Roles:Account Executive 15,000Account Manager 23,000Account Director 35,000Associate Director 45,000General Manager 75,000Managing Director 100,000Regional Director 85,000-100,000In House Roles:Director 40,000-50,000PR Manager 30,000 -45,000Corporate Comms Manager 25,000-40,000Corporate Comms Executive 12,000-15,000 20
  • 22. SALES, MARKETING & SUPPORT.SALES BASIC SALARIES (AED PER MONTH)Role: Coordinator Executive Manager DirectorSponsorship Sales 10,000-12,000 10,000-14000 15,000-22,000 25,000-35,000Delegate Sales 10,000-12,000 8,000-12,000 14,000-20,000 22,000-30,000Media Content Sales (print) 10,000-12,000 12,000-16,000 18,000-28,000 30,000-40,000Media Content Sales (digital) 10,000-12,000 12,000-18,000 20,000-30,000 30,000-40,000Advertising Sales (traditional) 10,000-12,000 10,000-140,00 18,000-24,000 25,000-35,000Advertising Sales (digital) 10,000-12,000 10,000-15,000 22,500-27,500 30,000-40,000Business Development 8,000-12,000 12,000-18,000 20,000-28,000 35,000-45,000Key Account/Client Services 8,000-12,000 14,000-20,000 18,000-24,000 30,000-40,000 21
  • 23. BUSINESS SUPPORT.ADMINISTRATION BASIC SALARIES (AED PER MONTH)Role:Office Manager 14,000- 16,000Executive Assistant 20,000- 23,000Personal Assistant 17,000- 20,000Senior Executive Assistant 23,000- 30,000Trading Floor Secretary 16,000-23,000Bi-lingual Secretary 17,000- 19,000Team Secretary 14,000- 16,000Research Assistant 10,000- 12,000Senior Administrator / Business Assistant 15,000- 16,000Administrator 8,000- 10,000Junior Administrator 6,000-8, 000Reception Manager 12,000- 14,000Receptionist / Switchboard 10,000- 12,000 22
  • 24. SALARY GUIDE | UAE 2012. UNDERSTANDING THIS GUIDE METHODOLOGY: The salary information provided in this guide has Please note, the information presented in this been compiled by dedicated researchers across document should be used as a general guide only. Morgan McKinley’s banking & financial services, Where number of years’ experience is mentioned, it technical and sales, marketing & support is only to give an approximate framework in which to divisions. Our researchers are in regular contact gauge what a typical professional is likely to earn with both employers and candidates across these with the level of experience shown. sectors in the UAE. In order to match candidates to the right career SALARY DATA: opportunity for them, Morgan McKinley assesses individuals on all their skills and abilities when The salary ranges in this guide are indications of deciding on their suitability for roles with our clients. what individuals with similar experience might expect to earn in new roles in 2012. This salary FURTHER INFORMATION: data is based on placements made during the last six months, as well as the specialist For more specific salary or hiring information, please knowledge of Morgan McKinley’s consultants. visit or contact your Morgan McKinley consultant directly.DID YOU FIND THIS GUIDE USEFUL?PLEASE CLICK ON THE LINKS ON THE RIGHT TO SHARE THIS GUIDE ON SOCIAL MEDIA © 2012 Morgan McKinley Group Ltd all rights reserved. Copy or reproduction Visit for more information of this material is strictly prohibited. 23
  • 25. WE ARE MORGAN McKINLEY.TALK TO US.The world’s leadingemployers and successfullocal businesses must bedoing something right. Webelieve we know what that is.Dubai (0)4 324 4094 +353 (0)1 4321555Australia (0)2 8986 3100 +813 5403 7073China 21 5108 1200 +65 6557 4655France United (0)1 70 36 87 00 +44 (0)20 7092 0000Hong 3907 3907DID YOU FIND THIS GUIDE USEFUL?PLEASE CLICK ON THE LINKS ON THE RIGHT TO SHARE THIS GUIDE ON SOCIAL MEDIA 24