Uae Salary Guide
Uae Salary Guide
Uae Salary Guide
CONTENTS.
MANAGING DIRECTORS LETTER BANKING & FINANCIAL SERVICES MARKET INSIGHTS RISK & COMPLIANCE WEALTH MANAGEMENT & PRIVATE BANKING ACCOUNTANCY & FINANCE MARKET INSIGHTS ACCOUNTANCY & FINANCE TECHNICAL MARKET INSIGHTS ENGINEERING CONSTRUCTION & ENERGY SUPPLY CHAIN & LOGISTICS
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SALES, MARKETING & SUPPORT MARKET INSIGHTS ADVERTISING, MEDIA & BRANDING CREATIVE MARKETING & COMMUNICATIONS PR SALES ADMINISTRATION UNDERSTANDING THIS GUIDE TALK TO US
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Welcome to Morgan McKinleys UAE Salary Guide 2012 Welcome to our annual UAE Salary Guide for 2012. Firstly Id like to outline the methodology we have used in compiling this market intelligence. It is not intended to be a holistic guide to every job in every sector. Rather, it is a snapshot of the most popular positions from midmanagement level upwards within our four specialist divisions: Banking & Financial Services; Accountancy & Finance; Technical and Sales, Marketing & Support. It should be acknowledged that in order to arrive at these results we have accounted for a number of dissenting criteria, including job title; company; nationality; relocation packages; geographical dispersion; bonus sizes; longevity in the market and competitive edge. Job opportunities are up across the board on 2010 and 2009 numbers but still 40% down on 2011 for the same time of year. Abu Dhabi in particular has witnessed an exponential rise in vacancies, although less heavily weighted in the public sector than at any point in the last five years. Market competitiveness has received a significant lift from the freedom of movement driven by the labour reforms at the beginning of 2011.
Three bodies: Abu Dhabi Council for Economic Development (ADCED), Dubai Competitiveness Council and, at federal level, the Emirates Competitiveness Council (ECC) have the joint aim to align the UAEs laws, regulations and policies to the best practices in the world for promoting innovation, technology development and entrepreneurship. The upshot of all this will be an open, transparent labour market in which employees are paid a more stable market rate. As the economic boom reached its zenith, Gulf Business talked of a war for talent in the UAE as salaries sky-rocketed in line with increased demand for highly qualified expatriate and local candidates. The following downturn cut deeply into the workforce and rightsizing of both salaries and headcount was all too apparent. The last two years have seen a further correction and we are left with a more stable salary structure inline with inflation: acute salary swings will be restricted to disciplines with a skill set or language shortage. For everyone else, a remuneration uplift of over 15% is likely to remain a distant memory. We hope you find the insights within this report interesting and welcome any feedback. Trefor Murphy Managing Director | UAE T: +971 (0) 4 324 4094 tmurphy@morganmckinley.ae
Role: Private Banker Investment Advisor / Consultant Product Specialist Investment Analyst (Fund of Funds) Investment Strategist / Economist Trader / Dealer
TALENT SUPPLY The GCC continues to be an attractive destination for professionals, particularly those from the EUs more challenging economic environments. We have seen an increase in applications from Greece, Italy, Ireland and Spain, as well as increased interest in GCC countries which have historically found it difficult to attract oversees talent. As the region establishes its talent pool, the subject of relocating individuals is increasingly difficult; apart from instances where specialist technical or industry experience is required. Finally, whilst companies continue their commitment to nationalisation, there is also a trend towards hiring professionals who are committed to the region, particularly those who are fully bilingual in Arabic and English.
SALARY & COMPENSATION TRENDS Salaries were expected to rise by 6% in 2011, with analysts and CFOs expecting increments at around the same level for 2012, according to various media sources. Long gone are the days of incredible salary increments, however the steady annual increases in the UAE, are still some of the highest globally. Therefore, why you want to move should not be geared completely towards salary, but the opportunity a business is offering. Bonuses have also steadily improved from the tougher times of 2009/2010, with more investment and confidence filtering its way into the market.
The sectors of real prominence for finance professionals in the past year have been oil and gas, professional services, social media and technology. A large percentage of hires have been geared towards the mid-level market, with the aim of organisations looking to develop talent who will become future leaders. This is where highlighting achievements and value-add become pivotal when looking for a move or promotion. Job seekers with analytical and management experience have been high on companies hiring agendas, with a rise of commercial roles filtering through. Its imperative now to have the excellent accounting knowledge, as well as the personality to fit a company. The demand for talent is still high especially amongst multinationals, but the need to sell yourself is still something that job seekers need to address.
TECHNICAL.
ENGINEERING | SUPPLY CHAIN & LOGISTICS | CONSTRUCTION & ENERGY
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TECHNICAL. ENGINEERING
BASIC SALARIES (AED PER MONTH)
Role: Managing Director / CEO - Multinational Manager Director / CEO - SME General Manager - Multinational General Manager - SME Technical Sales Manager Sales Engineer Plant Manager Process Engineer Operations Manager Estimation Engineer Technician Technical Engineer Engineering Manager HSQE Manager Production Manager Production Team Leader Junior * * 40,000 35,000 30,000 12,000 20,000 12,000 25,000 7,000 8,000 10,000 25,000 20,000 20,000 8,000 Mid Level 75,000 60,000 55,000 45,000 35,000 18,000 27,000 17,000 35,000 11,000 12,000 14,000 40,000 35,000 30,000 15,000 Senior Level 95,000 80,000 70,000 65,000 50,000 30,000 35,000 25,000 45,000 14,000 15,000 18,000 70,000 55,000 40,000 25,000
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Role: Retail Buyer Demand Planner/Analyst Procurement Specialist (Services) Procurement Specialist (O&G and Eng) Inventory Planner Supply Chain Manager Warehouse Manager Operations Manager (Distribution) General Manager Freight Forwarder Transport Manager Logistics Manager Logistics Coordinator
Junior 8,000 10,000 14,000 15,000 10,000 18,000 15,000 25,000 30,000 8,000 18,000 15,000 8,000
Mid-Level 15,000 18,000 20,000 20,000 18,000 28,000 20,000 30,000 35,000 10,000 25,000 20,000 14,000
Senior Level 25,000 25,000 35,000 40,000 25,000 45,000 30,000 35,000 50,000 18,000 35,000 30,000 18,000
Executive 40,000 35,000 60,000 75,000 35,000 75,000 35,000 45,000 75,000 25,000 45,000 35,000 25,000
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Role: Junior Copywriter Midweight Copywriter Senior Copywriter Junior Art Director Midweight Art Director Senior Art Director Senior Designer Associate Creative Director Creative Director Executive Director
Salary/month 10,000-15,000 15,000-18,000 18,000-27,000 10,000-15,000 15,000-18,000 18,000-27,000 18,000-27,000 27,000 -31,000 31,000-42,000 43,000-70,000
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Agency Roles: Account Executive Account Manager Account Director Associate Director General Manager Managing Director Regional Director 15,000 23,000 35,000 45,000 75,000 100,000 85,000-100,000
In House Roles: Director PR Manager Corporate Comms Manager Corporate Comms Executive 40,000-50,000 30,000 -45,000 25,000-40,000 12,000-15,000
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Role: Sponsorship Sales Delegate Sales Media Content Sales (print) Media Content Sales (digital) Advertising Sales (traditional) Advertising Sales (digital) Business Development Key Account / Client Services
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Office Manager Executive Assistant Personal Assistant Senior Executive Assistant Trading Floor Secretary Bi-lingual Secretary Team Secretary Research Assistant Senior Administrator / Business Assistant Administrator Junior Administrator Reception Manager Receptionist / Switchboard
14,000- 16,000 20,000- 23,000 17,000- 20,000 23,000- 30,000 16,000-23,000 17,000- 19,000 14,000- 16,000 10,000- 12,000 15,000- 16,000 8,000- 10,000 6,000-8, 000 12,000- 14,000 10,000- 12,000
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METHODOLOGY: The salary information provided in this guide has been compiled by dedicated researchers across Morgan McKinleys banking & financial services, technical and sales, marketing & support divisions. Our researchers are in regular contact with both employers and candidates across these sectors in the UAE. SALARY DATA: The salary ranges in this guide are indications of what individuals with similar experience might expect to earn in new roles in 2012. This salary data is based on placements made during the last six months, as well as the specialist knowledge of Morgan McKinleys consultants. Please note, the information presented in this document should be used as a general guide only. Where number of years experience is mentioned, it is only to give an approximate framework in which to gauge what a typical professional is likely to earn with the level of experience shown. In order to match candidates to the right career opportunity for them, Morgan McKinley assesses individuals on all their skills and abilities when deciding on their suitability for roles with our clients. FURTHER INFORMATION: For more specific salary or hiring information, please visit www.morganmckinley.ae or contact your Morgan McKinley consultant directly.
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