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Key insights into recruitment trends and salary benchmarking
2024
UAE SALARY
GUIDE
powered by
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An introduction from Jon Ede .........................................................
1
About us................................................................................................
2
Candidate sentiment .........................................................................
3
Salary Guides
Banking and Financial Services ...................................................5-6
Consultancy, Strategy And Change ..............................................7-8
Data and Analytics ......................................................................9-10
Digital.........................................................................................11-12
Engineering and Manufacturing ................................................13-14
Finance and Accounting............................................................15-16
Healthcare and Life Sciences....................................................17-18
Human Resources.....................................................................19-20
Legal and Policy (In-House) ......................................................21-22
Legal (Private Practice)..............................................................23-24
Procurement And Supply Chain................................................25-26
Property and Construction........................................................27-28
Retail..........................................................................................29-30
Sales and Marketing (B2B)........................................................31-32
Sales and Marketing (Consumer) ..............................................33-34
Secretarial and Office Support..................................................35-36
Technology................................................................................37-36
Additional resources............................................................. 39
Get in touch .......................................................................... 40
Contents
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Recruitment in the UAE remained strong throughout 2023. The UAE’s non-oil-based sectors
driving growth continue to benefit from a positive business outlook, and organisations
continue to demonstrate constant enthusiasm for attracting and retaining high-quality talent
to support their strategies for 2024 and beyond.
The UAE’s attractiveness as a place to live and work continued to play an essential role in
attracting and retaining high-quality candidates from abroad. Our latest research shows that
almost three-quarters (73%) of candidates plan to remain in the country for at least five years,
citing career opportunities, safety, and living conditions as their main priorities. However,
according to our same research, salary is the biggest driver for a job move, showing that
compensation is still vital when attracting top talent.
Our guide includes the most up-to-date salary comparison and hiring trends. You’ll also find
insightful data and trends about why candidates are moving, how they perceive their current
work environment, how long they intend to stay in the country, and the roles we’re seeing
growing demand in across the market sectors. We trust this guide provides valuable insights,
helping you spark meaningful discussions about talent management and guiding your
strategies or job search activity in 2024.
An introduction from
Jon Ede
Regional Director – United Arab Emirates, PageGroup
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PAGEGROUP
MICHAEL PAGE UNITED ARAB EMIRATES
REASONS TO PARTNER WITH US
About us
PageGroup is a world- leading specialist recruitment
company with over four
decades of expertise. With
8,000+ employees and
operations in 37 countries,
PageGroup provides
recruitment on a local,
regional and global level.
37
network of countries
25
specialist businesses
139
offices
8,000+
employees
40+ YEARS
recruitment experience
FTSE 250
publicly listed company
Operating in the Middle East
since 2006, the business has
established a strong position
in the market and is led by
a management team with
over 100 years of combined
international and regional
recruitment experience.
Offices in Dubai
and Abu Dhabi
Full regional
coverage
50+ specialist
recruitment consultants
Over 600,000 candidates
in our regional database
Tailored search
to your specific
needs, using our
extensive database
of best-in-class
candidates
Truly inclusive
recruitment and
candidates fully
vetted against all
requirements
Reduced time
to hire with
our targeted
approach
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of respondents said they could secure
a new role within three months
HOW SATISFIED ARE RESPONDENTS WITH ELEMENTS OF THEIR CURRENT
WORK SITUATION?
WHEN ASKED THEIR TOP THREE REASONS FOR LOOKING FOR A NEW
OPPORTUNITY, RESPONDENTS SAID:
HOW LONG DO RESPONDENTS PLAN TO STAY IN THE UAE AND WHY?
Candidate sentiment
Contract ends soon
Require more training
Relocating or moving soon
Want a different company culture
Change of industry or sector
Want more recognition
Looking for a better work/life balance
Want more responsibility
Lack of career development opportunity
Better salary package
Other
Current role at risk
Dissatisfied
Neutral
Satisfied
SALARY
19.8%
35.7%
44.5%
COMPANY CULTURE
19%
27.5%
53.6%
83%
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said they will stay in the UAE
for the next five years or more
It’s interesting to see how the market continues to shift in candidate sentiment and package preference.
Previously, we saw work/life balance as a leading factor for candidates moving jobs. However, we’ve seen this
decline compared to previous years, with salary returning as the main driving force for candidates switching roles.
This is an unsurprising shift, given the economic changes we face as the cost of living increases. What is
interesting is, despite this, over 80% candidates remain confident they will secure a role within three months,
demonstrating there are still opportunities in the market despite external and economic factors, and this is a
positive sentiment businesses should takeaway.
HOW DO RESPONDENTS FEEL THEIR WORK SITUATION WILL CHANGE IN THE
NEXT 12 MONTHS?
SKILLS DEVELOPMENT WORK/LIFE BALANCE
5.3% 16.9%
1.1% 3.2%
1.8% 6.1%
91.7% Better 73.8% Better
Same Same
Worse Worse
Don’t know Don’t know
Despite economic challenges globally, the hiring sentiment remains positive across the UAE. Over 74% of
respondents to our recent survey say they are “positive” about the current and future market situation, with over
90% and 70% of respondents anticipating their skills development and work-life balance - respectively - will
improve in the coming year.
The candidate sentiment for moving to and working in the UAE has shifted over
the last decade, which is the result of how the UAE market and businesses
have developed collectively. Candidates are now looking to move and work in
the country more long-term, viewing the location as an opportunity for further
career development as organisations develop what they offer as a package and
progression than ever before.
Cost of living
Tax environment
Geographical situation
Economic context
Salary
Living conditions
Safety
Career prospects
OPPORTUNITY FOR PROMOTION
29.6%
34% 36.4%
Positive about current job market situation Positive about future job market
74% 79%
73%
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IN-DEMAND SKILLS AND EXPERIENCE | INDUSTRY CHALLENGES
FINANCIAL MODELLING, VALUATION & DUE DILIGENCE (INVESTMENT
ROLES)
Financial modelling, valuation and the ability to critically run exhaustive
due diligence remains key for looking at roles on the buy-side.
Candidates are consistently challenged with case studies which serve
as a barrier to entry; only those with strong skills (as a consequence of
practice or additional training) are typically able to succeed.
FUNDRAISING
The increase in new asset managers has created liquidity in roles
for fundraising professionals, with an increase in demand for well- networked professionals, especially with those who either have family
offices or institutional relationships in the GCC.
SENIOR STRATEGIC FINANCE / CFO
There has been strong demand for mid-to-senior level finance
professionals who can go beyond standard ‘Accounting’ duties.
Firms have specifically been seeking finance professionals who have
extensive backgrounds in partnering with senior-level stakeholders and
can add tangible value by influencing the decision-making process.
COMPLIANCE
Compliance remains an extremely competitive and candidate-led
market across the UAE. Sustained high demand and low supply of
highly qualified and experienced Authorised Compliance Officers has
created significant competition between firms looking to hire within
this space. There also remains strong growth of new firms setting up
across ADGM and DIFC, putting pressure on the demand for strong
compliance professionals operating in the UAE.
FUND ACCOUNTANT
Fund Accounting has been a dynamic and evolving landscape,
with an increase in firms hiring and utilising in-house teams. This, in
conjunction with the high volume of new funds establishing themselves
in the region, has created a strong and sustained demand for fund
accounting professionals over the past 12 months.
CHALLENGE
Lack of a continued on-the-job
environment has meant that
professionals, especially those in
their early-to-mid careers, have
not had the benefit of extensive
on-the-job training and coaching
in their roles. There is a gap in
terms of client expectations
versus candidate skills which is an
ongoing challenge.
RECOMMENDATION
Organisations should remain
open, where possible,
to internationally-based
candidates who are open to
relocating. They should also
consider candidates with
transferable skills who are
based locally and demonstrate
an ability and willingness to
upskill. Candidates, on the
other hand, should invest time
in improving their technical
skills and gain expertise in their
domains to be able to excel in
technical interviews.
Salaries are shown per month in thousands of (AED) - basic, housing
and transport.
5 6
Investments: Senior Analyst / Associate /
Senior Associate; Growth Venture Capital &
Private Equity
Project & Structured Finance
Compliance Officer
Fundraising & Institutional Sales
Finance Manager - Investments
Operations - Middle Office (Private Equity,
Listed Equities, Hedge Funds)
Private Banking & Wealth Management -
Coverage
Fund Accountant
Positions in demand
1
4
7
2
5
8
3
6
CATEGORISED BY FUNCTION FROM AVG TO
WHOLESALE BANKING
Head of Wholesale Banking (EVP) 100 160 200
Head of Corporate Banking (SVP) 80 95 120
Head of Unit 45 60 75
Senior Relationship Manager 40 47 55
Relationship Manager 30 35 45
Relationship Officer / Assistant
Relationship Manager 20 25 32
RETAIL BANKING
Head of Consumer Banking (EVP) 100 160 200
Head of Retail Banking (SVP) 80 90 120
Head of Assets / Sales 50 75 100
Senior Manager Products / Sales 42 50 60
Manager Products / Sales 27 35 42
Officer / Assistant Manager; Products/
Sales 17 22 25
INSTITUTIONAL SALES
Managing Director 110 150 220
Head of Distribution 60 85 130
Director 60 75 100
Vice President 40 55 70
Associate 28 30 35
Client Services Officer 15 20 25
INVESTMENT BANKING – M&A / DCM / ECM / LEV FIN
Managing Director 90 130 185
Executive / Senior Director 65 85 120
Director 50 70 85
Vice President 40 55 75
Associate 30 40 55
Analyst 20 25 35
PRIVATE EQUITY / INVESTMENTS
Managing Director / CIO 80 120 160
Senior Vice President / Senior Director 65 80 100
Vice President / Director 55 65 75
Senior Associate 35 50 60
Associate 30 38 45
Analyst 20 25 30
VENTURE CAPITAL / INVESTMENTS
Managing Director 80 100 130
Senior Vice President / Senior Director 50 70 90
Vice President / Director 45 55 70
Senior Associate 35 45 55
Associate 27 30 40
Analyst 20 22 28
INSURANCE
Managing Director 70 103 160
Senior Vice President / Senior Director 50 65 90
Vice President / Director 40 50 65
Senior Associate 25 35 40
CATEGORISED BY FUNCTION FROM AVG TO
CONTROL FUNCTIONS
COMPLIANCE
Chief Compliance Officer & MLRO 58 75 115
Compliance Manager/VP & MLRO 38 50 65
Compliance Officer & MLRO 32 40 50
Compliance Associate 16 24 30
Analyst - AML/Fraud/Regulatory 12 18 22
RISK
Chief Risk Officer 70 95 165
Head of Risk 40 67 85
Manager 30 35 48
Senior Analyst 15 27 35
Analyst 13 18 23
OPERATIONS (INVESTMENTS/ FUNDS)
COO 70 82 125
Head of Operations 45 60 75
Operations - Middle Office (Private
Equity, Listed Equities, Hedge Funds) 20 28 35
Operations - Back Office 12 18 26
FINANCE & ACCOUNTING (INVESTMENTS/ FUNDS)
CFO 70 95 160
Finance Director 50 72 90
Financial Controller 40 48 62
Finance Manager 26 34 42
Senior Accountant 17 23 27
Accountant (Qualified) 14 20 24
Fund Accountant 16 24 30
Banking and Financial Services