UAE Salary Guide 2012 - Morgan McKinley

SALARY GUIDE | UNITED ARAB EMIRATES 2012

CONTENTS.

MANAGING DIRECTOR’S LETTER 2

BANKING & FINANCIAL SERVICES 3MARKET INSIGHTS 4RISK & COMPLIANCE 5WEALTH MANAGEMENT & PRIVATE BANKING 6

ACCOUNTANCY & FINANCE 7MARKET INSIGHTS 8ACCOUNTANCY & FINANCE 9

TECHNICAL 10MARKET INSIGHTS 11ENGINEERING 12CONSTRUCTION & ENERGY 13SUPPLY CHAIN & LOGISTICS 14

SALES, MARKETING & SUPPORT 15MARKET INSIGHTS 16ADVERTISING, MEDIA & BRANDING 17CREATIVE 18MARKETING & COMMUNICATIONS 19PR 20SALES 21ADMINISTRATION 22

UNDERSTANDING THIS GUIDE 23

TALK TO US 24

Welcome toMorgan McKinley’sUAE Salary Guide2012

Welcome to our annual UAE Salary Guide for 2012. Firstly I’d 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 mid-management level upwards within our four specialist divisions: Banking & Financial Services; Accountancy & Finance, Technical; 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 on2011 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 UAE’s 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 MurphyManaging Director | UAE T: +971 (0) 4 324 [email protected]

2

MANAGINGDIRECTOR’SLETTER.

BANKING & FINANCIAL SERVICES.

3

BANKING & FINANCIAL SERVICES.MARKET INSIGHTS

4

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

5

SALARIES (AED PER MONTH)

Role:Analyst /0-2 years

AVP /2-5 years

VP /5-7 years

Director /7-10 years

MD /10+ years

Market Risk Management 15,000 22,000 29,000 38,000 60,000

Market Risk Control 15,000 22,000 29,000 38,000 55,000

Investment / Portfolio Risk 17,000 23,000 28,000 37,000 60,000

Credit Analysis 15,000 22,000 27,000 38,000 55,000

Credit Risk Control 16,000 23,000 28,000 37,000 56,000

Operational Risk Management 15,000 23,000 29,000 36,000 55,000

Quantitative Risk Analysis 15,500 22,500 30,000 38,000 57,000

BANKING & FINANCIAL SERVICES.WEALTH MANAGEMENT & PRIVATE BANKING

6

BASIC SALARIES (AED PER MONTH)

Role:Analyst /0-2 years

AVP /2-5 years

VP /5-7 years

Director /7-10 years

MD /10+ years

Private Banker 25,000 35,000 40,000 55,000 85,000

Investment Advisor / Consultant 20,000 25,000 45,000 65,000 100,000

Product Specialist 20,000 25,000 35,000 50,000 75,000

Investment Analyst (Fund of Funds) 20,000 30,000 45,000 60,000 85,000

Investment Strategist / Economist 15,000 30,000 45,000 60,000 85,000

Trader / Dealer 20,000 35,000 50,000 80,000 100,000

ACCOUNTANCY& FINANCE.

7

ACCOUNTANCY AND FINANCE.MARKET INSIGHTS

8

HIRING TRENDS

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. It’s 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.

TALENT SUPPLY

The GCC continues to be an attractive destination for professionals, particularly those from the EU’s 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.


Salaries were expected to rise by 6% in 2011, with analysts and CFO’s 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 it’s way into the market.

ACCOUNTANCY & FINANCE

9


Role: PartQualified Newly Qualified 2-5 years PQE 5-7 years PQE 10+ years PQE

Chief 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+

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

10

TECHNICAL.MARKET INSIGHTS

11

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.


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

TECHNICAL.

12


ENGINEERING

Role: Junior Mid Level Senior Level

Managing Director / CEO - Multinational * 75,000 95,000

Manager Director / CEO - SME * 60,000 80,000

General Manager - Multinational 40,000 55,000 70,000

General Manager - SME 35,000 45,000 65,000

Technical Sales Manager 30,000 35,000 50,000

Sales Engineer 12,000 18,000 30,000

Plant Manager 20,000 27,000 35,000

Process Engineer 12,000 17,000 25,000

Operations Manager 25,000 35,000 45,000

Estimation Engineer 7,000 11,000 14,000

Technician 8,000 12,000 15,000

Technical Engineer 10,000 14,000 18,000

Engineering Manager 25,000 40,000 70,000

HSQE Manager 20,000 35,000 55,000

Production Manager 20,000 30,000 40,000

Production Team Leader 8,000 15,000 25,000

TECHNICAL.

13


CONSTRUCTION & ENERGY

Role: Junior Mid Level Senior Level

Construction Director 50,000 70,000 80,000

Construction Manager 35,000 45,000 55,000

Project Manager 25,000 35,000 50,000

Quantity Surveyor 12,000 18,000 35,000

HSE Engineer 15,000 20,000 30,000

Civil Engineer 15,000 22,000 30,000

Architect 18,000 25,000 45,000

Design Engineer 12,000 20,000 30,000

Estimation Engineer 7,000 11,000 18,000

Technician 8,000 12,000 15,000

Technical Engineer 10,000 14,000 18,000

Project Controls Manager 25,000 40,000 60,000

Power Plant – General Manager 40,000 55,000 70,000

Power Plant – Operations / Maintenance Manager 30,000 40,000 50,000

TECHNICAL.SUPPLY CHAIN & LOGISTICS

14


Role: Junior Mid-Level Senior Level Executive

Retail Buyer 8,000 15,000 25,000 40,000

Demand Planner/Analyst 10,000 18,000 25,000 35,000

Procurement Specialist (Services) 14,000 20,000 35,000 60,000

Procurement Specialist (O&G and Eng) 15,000 20,000 40,000 75,000

Inventory Planner 10,000 18,000 25,000 35,000

Supply Chain Manager 18,000 28,000 45,000 75,000

Warehouse Manager 15,000 20,000 30,000 35,000

Operations Manager (Distribution) 25,000 30,000 35,000 45,000

General Manager 30,000 35,000 50,000 75,000

Freight Forwarder 8,000 10,000 18,000 25,000

Transport Manager 18,000 25,000 35,000 45,000

Logistics Manager 15,000 20,000 30,000 35,000

Logistics Coordinator 8,000 14,000 18,000 25,000

SALES, MARKETING & SUPPORT.MARKET INSIGHTS

16

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.


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.

SALES, MARKETING & SUPPORT.ADVERTISING, MEDIA & BRANDING

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Role: Junior Mid Level Senior Director

Account Management 7,000 -10,000 11,000-15,000 15,000-29,000 30,000-45,000

Planner 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 30,000-40,000

Media Buyer/Planners 8,000-11,000 12,000 -16,000 17,000-20,000 21,000-30,000

SALES, MARKETING & SUPPORT.CREATIVE

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Role: Salary/month

Junior Copywriter 10,000-15,000

Midweight Copywriter 15,000-18,000

Senior Copywriter 18,000-27,000

Junior Art Director 10,000-15,000

Midweight Art Director 15,000-18,000

Senior Art Director 18,000-27,000

Senior Designer 18,000-27,000

Associate Creative Director 27,000 -31,000

Creative Director 31,000-42,000

Executive Director 43,000-70,000

SALES, MARKETING & SUPPORT.MARKETING & COMMUNICATIONS

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SALARIES (AED PER MONTH)

Role: Entry Experienced Manager Regional Manager Director

Marketing 15,000 18,000 25,000 32,000 40, 000

Brand Manager 15,000 20,000 25,000 30,000 38,000

Sales Support / Investment Communications 15,000 18,000 22,000 26,000 35,000

Product Marketing / Specialist 17,000 20,000 28,000 34,000 42,000

Internal Communications 17,000 20,000 28,000 34,000 42,000

E-Marketing 18,000 20,000 28,000 34,000 42,000

Events 16,000 19,000 25,000 30,000 38,000

Project Management 17,000 20,000 28,000 34,000 42,000

SALES, MARKETING & SUPPORT.PR

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Agency Roles:

Account Executive 15,000

Account Manager 23,000

Account Director 35,000

Associate Director 45,000

General Manager 75,000

Managing Director 100,000

Regional Director 85,000-100,000

In House Roles:

Director 40,000-50,000

PR Manager 30,000 -45,000

Corporate Comms Manager 25,000-40,000

Corporate Comms Executive 12,000-15,000

SALES, MARKETING & SUPPORT.SALES

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Role: Coordinator Executive Manager Director

Sponsorship Sales 10,000-12,000 10,000-14000 15,000-22,000 25,000-35,000

Delegate Sales 10,000-12,000 8,000-12,000 14,000-20,000 22,000-30,000

Media Content Sales (print) 10,000-12,000 12,000-16,000 18,000-28,000 30,000-40,000

Media Content Sales (digital) 10,000-12,000 12,000-18,000 20,000-30,000 30,000-40,000

Advertising Sales (traditional) 10,000-12,000 10,000-140,00 18,000-24,000 25,000-35,000

Advertising Sales (digital) 10,000-12,000 10,000-15,000 22,500-27,500 30,000-40,000

Business Development 8,000-12,000 12,000-18,000 20,000-28,000 35,000-45,000

Key Account/Client Services 8,000-12,000 14,000-20,000 18,000-24,000 30,000-40,000

BUSINESS SUPPORT.ADMINISTRATION

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Role:

Office Manager 14,000- 16,000

Executive Assistant 20,000- 23,000

Personal Assistant 17,000- 20,000

Senior Executive Assistant 23,000- 30,000

Trading Floor Secretary 16,000-23,000

Bi-lingual Secretary 17,000- 19,000

Team Secretary 14,000- 16,000

Research Assistant 10,000- 12,000

Senior Administrator / Business Assistant 15,000- 16,000

Administrator 8,000- 10,000

Junior Administrator 6,000-8, 000

Reception Manager 12,000- 14,000

Receptionist / Switchboard 10,000- 12,000

SALARY GUIDE | UAE 2012.UNDERSTANDING THIS GUIDE

METHODOLOGY:

The salary information provided in this guide has been compiled by dedicated researchers across Morgan McKinley’s 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 McKinley’s 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.

© 2012 Morgan McKinley Group Ltd all rights reserved. Copy or reproduction of this material is strictly prohibited. 23

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UAE Salary Guide 2012 - Morgan McKinley

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