Uae Salary Guide

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SALARY GUIDE | UNITED ARAB EMIRATES 2012

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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MANAGING DIRECTORS LETTER.

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

BANKING & FINANCIAL SERVICES.

BANKING & FINANCIAL SERVICES. MARKET INSIGHTS


HIRING TRENDS Last year was interesting in terms of banking recruitment; we started with a sense of optimism and belief in the market followed by uncertainty and deterioration of confidence due to the global markets. International banks have looked at reigning in their international exposure, recalling teams of bankers back to their regional hubs and leaving a much smaller team of regional managers and originators in place. Regional banks and sovereign wealth funds have been able to take advantage of the talented bankers wishing to remain in the region and strengthen their teams. As for 2012, recruitment for Q1 and Q2 has and will be relatively modest. Concerns about Europe, the Arab Spring and the media attention on bonus payments have all had varying affects on the confidence of the international and regional banks. TALENT SUPPLY There is certainly a strong supply of talent available within the market and this is a great opportunity for senior management to improve their capabilities with investment in talent. Investment bankers who wish to remain in the Middle East are looking at areas they may not have once considered. Regional banks and sovereign wealth funds are all taking advantage of seasoned bankers to add value to their current offerings. We are also seeing a willingness for bankers prepared to look outside of the UAE and consider posts further afield. The private banking industry also aims to attract a new generation of investors, a new set of skills, experience and talent are in demand in order to differentiate themselves from competitors. Job seekers that are trilingual and those that possess excellent relationships are more in demand now in comparison to the traditional FS experience only attitude. SALARY & COMPENSATION TRENDS Its obvious to say that the best people will always command the best salaries, but in the current market, it is even more so. There is a lot of talent now on the market; however our clients want people who will bring in the business, whether it be corporate, investment or private banking and wealth management. For those who have a proven track record in delivering business there will always be interest. For employees trying to tempt these individuals who are happy in their current roles they will have to do what it takes, however, it is still likely that professionals will face an intense interview process. If we are looking at the middle and back office areas within financial institutions there are generally modest salary increases. However, strong compliance, risk and treasury professionals are all in demand and will command premium increases. All in all we see modest salary increases for 2012.

BANKING & FINANCIAL SERVICES. RISK & COMPLIANCE

SALARIES (AED PER MONTH)


Role: Market Risk Management Market Risk Control Investment / Portfolio Risk Credit Analysis Credit Risk Control Operational Risk Management Quantitative Risk Analysis Analyst / 0-2 years 15,000 15,000 17,000 15,000 16,000 15,000 15,500 AVP / 2-5 years 22,000 22,000 23,000 22,000 23,000 23,000 22,500 VP / 5-7 years 29,000 29,000 28,000 27,000 28,000 29,000 30,000 Director / 7-10 years 38,000 38,000 37,000 38,000 37,000 36,000 38,000 MD / 10+ years 60,000 55,000 60,000 55,000 56,000 55,000 57,000

BANKING & FINANCIAL SERVICES. WEALTH MANAGEMENT & PRIVATE BANKING

BASIC SALARIES (AED PER MONTH)


Analyst / 0-2 years 25,000 20,000 20,000 20,000 15,000 20,000 AVP / 2-5 years 35,000 25,000 25,000 30,000 30,000 35,000 VP / 5-7 years 40,000 45,000 35,000 45,000 45,000 50,000 Director / 7-10 years 55,000 65,000 50,000 60,000 60,000 80,000 MD / 10+ years 85,000 100,000 75,000 85,000 85,000 100,000

Role: Private Banker Investment Advisor / Consultant Product Specialist Investment Analyst (Fund of Funds) Investment Strategist / Economist Trader / Dealer

ACCOUNTANCY & FINANCE.

ACCOUNTANCY AND FINANCE. MARKET INSIGHTS


HIRING TRENDS

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.

ACCOUNTANCY & FINANCE

BASIC SALARIES (AED PER MONTH)


Role: Chief Financial Officer Financial Director Financial Controller Financial Planning Analysis Manager Finance Manager Business Analyst Finance Analyst Systems Accountant Chief Accountant Financial Accountant Management Accountant Head of Internal Audit Internal Audit Manager Internal Auditor Part Qualified * * 20,000 20,000 18,000 15,000 15,000 15,000 18,000 16,000 15,000 * * 15,000 Newly Qualified * * 25,000 25,000 23,000 20,000 20,000 20,000 25,000 20,000 20,000 * 25,000 18,000 2-5 years PQE * 40,000 30,000 30,000 30,000 25,000 25,000 25,000 30,000 25,000 25,000 30,000 30,000 25,000 5-7 years PQE 50,000 45,000 40,000 35,000 35,000 30,000 30,000 30,000 35,000 30,000 30,000 40,000 35,000 30,000 10+ years PQE 70,000+ 60,000+ 50,000+ 45,000+ 45,000+ 30,000+ 30,000+ 30,000+ 40,000+ 35,000+ 35,000+ 45,000+ 40,000+ 30,000+

TECHNICAL.
ENGINEERING | SUPPLY CHAIN & LOGISTICS | CONSTRUCTION & ENERGY

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TECHNICAL. MARKET INSIGHTS


HIRING TRENDS Oil & gas, power and heavy industry is proving to be especially buoyant in 2012 and is driving recruitment across the board within the Middle East. As companies continue to review performance and overall costs, an awareness of the importance of improving cost, systems and procedures due to their impact on bottom line is much in evidence. More and more firms in the region are therefore seeking experienced professionals to improve their sales, tendering, IT and supply chain functions, which in turn is driving trends within recruitment. Leading organisations have reported better results in this region than expected. Amidst the credit crisis, many strategic tools like outsourcing and global sourcing gained more importance in the context of restructuring organisations. Although a skills shortage is apparent in many industries within the Middle East, we are seeing companies across the globe struggle to recruit experienced and qualified professionals within this market. TALENT SUPPLY On a global scale, construction professionals are still the hardest hit talent pool of professional oversupply while companies recruiting across logistics, energy and manufacturing are competing for a limited talent pool as geographic boundaries become less defined. Running parallel to the increasing cost of living, the Middle East has also experienced stronger competition from other regions for qualified staff. In particular, China, India and South East Asia are offering viable alternatives for employees. India will have a huge talent requirement in the next five years and with rising salaries in that market we are already seeing many Indian nationals returning home for better prospects. This underlines the necessity for companies to provide innovation and flexibility in salaries, remuneration packages and the work environment. SALARY & COMPENSATION TRENDS While the cost of living within the emirates has decreased since 2008 many analysts are witnessing a turning point in 2012, both in accommodation and general living costs and this can act as a major deterrent for overseas professionals looking to relocate, especially as expatriate packages in recent months tend no longer to include generous perks such as fully paid accommodation and company vehicles. Having said that, within the UAE 48% of employees received a pay increase of more than 8%* at their last salary review and 49% believe they will receive more than an 8% increase at their next review. These figures should take into account recent increases in salaries for many Emirati employees working for Government & Semi-Government bodies in 2011/2012. *Source: khaleejtimes.com - 2011

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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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TECHNICAL. CONSTRUCTION & ENERGY


BASIC SALARIES (AED PER MONTH)
Role: Construction Director Construction Manager Project Manager Quantity Surveyor HSE Engineer Civil Engineer Architect Design Engineer Estimation Engineer Technician Technical Engineer Project Controls Manager Power Plant General Manager Power Plant Operations / Maintenance Manager Junior 50,000 35,000 25,000 12,000 15,000 15,000 18,000 12,000 7,000 8,000 10,000 25,000 40,000 30,000 Mid Level 70,000 45,000 35,000 18,000 20,000 22,000 25,000 20,000 11,000 12,000 14,000 40,000 55,000 40,000 Senior Level 80,000 55,000 50,000 35,000 30,000 30,000 45,000 30,000 18,000 15,000 18,000 60,000 70,000 50,000

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TECHNICAL. SUPPLY CHAIN & LOGISTICS

BASIC SALARIES (AED PER MONTH)

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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SALES, MARKETING & SUPPORT.


ADVERTISING, MEDIA & BRANDING | CREATIVE | MARKETING COMMUNICATIONS | PR | SALES | ADMINISTRATION

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SALES, MARKETING & SUPPORT. MARKET INSIGHTS


HIRING TRENDS Within the sales sector, we have seen a relatively constant flow between supply and demand, particularly within media and events. The FMCG market is growing and with global brands expanding across the region there is a need for talent with specific specialisms. Whilst the market remains tight, good quality sales candidates are always in demand. Media and communications has also seen increased demand since the doldrums of 2009. Employers needs are more specialist, and quality is still at a premium, which has led to a willingness to source staff from outside the region. Advertising and media are hiring heavily, particularly in the digital sphere. PR has seen a major shift post-recession. Agencies and companies are generally less likely to relocate talent outside of the GCC as demand for local experience grows. TALENT SUPPLY In marketing & communications there has been a marked shift from relocating professionals outside of the region to focusing on existing talent though we have seen a greater demand placed in the digital sphere, with the relocation of job seekers from the West. The sophistication and quality of the market has been recognised by international awards in 2011 but it is hoped that standards continue to rise if this momentum is set to continue. The sales market is in rude health, any sales people who have survived one of the steepest downturns in history are set for a successful future once the market responds to a more positive stimulus. SALARY & COMPENSATION TRENDS Marketing, advertising and branding agency salaries are streamlined and benchmarked against each other. The five employers of choice in each discipline for example, are closely assimilated which can adversely affect significant movement. On the sales front, redundancies and commission-only packages are becoming less common. OTEs for sales employees have started to pick up although many local businesses and SMEs still lean towards a heavily weighted commission element in their package structures.

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SALES, MARKETING & SUPPORT. ADVERTISING, MEDIA & BRANDING

BASIC SALARIES (AED PER MONTH)

Role: Account Management Planner Business Director Media Buyer / Planners

Junior 7,000 -10,000 10,000 -13,000 15,000 -18,000 8,000-11,000

Mid Level 11,000-15,000 14,000-20,000 19,000-22,000 12,000 -16,000

Senior 15,000-29,000 21,000-30,000 23,000-30,000 17,000-20,000

Director 30,000-45,000 31,000 + 30,000-40,000 21,000-30,000

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SALES, MARKETING & SUPPORT. CREATIVE

BASIC SALARIES (AED PER MONTH)

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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SALES, MARKETING & SUPPORT. MARKETING & COMMUNICATIONS

SALARIES (AED PER MONTH)


Role: Marketing Brand Manager Sales Support / Investment Communications Product Marketing / Specialist Internal Communications E-Marketing Events Project Management Entry 15,000 15,000 15,000 17,000 17,000 18,000 16,000 17,000 Experienced 18,000 20,000 18,000 20,000 20,000 20,000 19,000 20,000 Manager 25,000 25,000 22,000 28,000 28,000 28,000 25,000 28,000 Regional Manager 32,000 30,000 26,000 34,000 34,000 34,000 30,000 34,000 Director 40, 000 38,000 35,000 42,000 42,000 42,000 38,000 42,000

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SALES, MARKETING & SUPPORT. PR

BASIC SALARIES (AED PER MONTH)

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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SALES, MARKETING & SUPPORT. SALES

BASIC SALARIES (AED PER MONTH)

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

Coordinator 10,000-12,000 10,000-12,000 10,000-12,000 10,000-12,000 10,000-12,000 10,000-12,000 8,000-12,000 8,000-12,000

Executive 10,000-14000 8,000-12,000 12,000-16,000 12,000-18,000 10,000-140,00 10,000-15,000 12,000-18,000 14,000-20,000

Manager 15,000-22,000 14,000-20,000 18,000-28,000 20,000-30,000 18,000-24,000 22,500-27,500 20,000-28,000 18,000-24,000

Director 25,000-35,000 22,000-30,000 30,000-40,000 30,000-40,000 25,000-35,000 30,000-40,000 35,000-45,000 30,000-40,000

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BUSINESS SUPPORT. ADMINISTRATION

BASIC SALARIES (AED PER MONTH)


Role:

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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SALARY GUIDE | UAE 2012. UNDERSTANDING THIS GUIDE

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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