Salary Guide 2016: United Arab Emirates

Transcription

1 Salary Guide 2016: United Arab Emirates cooperfitch.ae

2 Welcome to Cooper Fitch s 2016 Salary Guide for the United Arab Emirates Cooper Fitch is delighted to present its Salary Survey for 2016, providing insight into salary trends in key sectors for the United Arab Emirates (UAE). Based on data compiled from key employers in the region, as well as our own experts observations, this guide summarises our expectations for gross salaries and recruitment trends for the coming year. With GDP growth for the UAE estimated to have fallen to between 2% and 3% in 2015 and oil prices averaging $US40-45 per barrel, it is not surprising that salaries stayed relatively flat last year. Along with many other commentators, we had predicted a bounce in the employment market in the second half of 2015, which we now know did not occur due to the continued and prolonged downward trajectory of oil prices. Instead, recruitment levels finished below our expectations. The number of new jobs coming to market was lower than in 2014, translating into a slight softening in salaries for the year as a whole. growth to drop below current levels or to remain flat for the year ahead. We are predicting that for the full year of 2016 that salaries could drop to as low at 2% or 3% below certain levels or remain relatively flat depend on commodity prices We expect salaries to remain broadly flat during the coming year with workers more concerned about remaining employed than pushing for pay increases. By reading the commentary in this guide, however, you will see that there are significant divergences around this forecast with some sectors likely to perform better than others, leading to respective salary growth. We are hopeful that salaries will increase above 2015 levels in the second half of 2016, but this will largely depend on what happens to oil prices as the year progresses. We hope you find the insights presented in this report interesting and useful, and we welcome any feedback. Trefor Murphy Across the Gulf Cooperation Council (GCC), which incorporates the UAE, Bahrain, Iraq, Kuwait, Oman, Saudi Arabia and Qatar, the price of oil is a major factor in consumer confidence. So it inevitably has an impact on all sectors. With oil prices slipping to US$30 at the time of writing, we could yet see a further slowdown in GDP growth across the UAE. Since the outlook for 2016 is highly uncertain, some doom and gloom is steadily creeping into market sentiment. While the UAE economy is highly diversified and complex, it is still heavily reliant on natural resources, which affects all industries and professional disciplines. Undoubtedly the year ahead will be difficult for the UAE, but the government is making the right decisions to ensure that it balances it fiscal budgets and does not fall back into recession. Until the very end of 2015 we were looking forward to a bumper year in 2016, in terms of both the creation of new headcount and salary growth. We have now lowered our expectations, however, and expect salary 2

3 Banking & Financial Services The UAE Banking & Financial Services Salary Guide 2016 includes salary trends and ranges for professionals in corporate, retail and private banking, asset management, finance and operations as well as graduate Emirati salary ranges Hiring Trends Geopolitical risk in the region, coupled with the continued slump in oil prices, has hampered growth in the financial services sector. As a result, international banks have been reluctant to commit to investment in certain locations. Fortunately, this caution about investing in some areas has been offset by positive growth stories in Islamic finance, as well as in wealth management and private banking. Over the past year there has been increased competition between the leading local Islamic banks, which are aiming to develop and differentiate their sharia offerings. Islamic finance has also become a fast-growing market for international banks in the region. Furthermore, the new international financial centre, Abu Dhabi Global Market, will become fully operational in 2016, sparking further growth in the asset management, private banking and wealth management sectors. Emiratisation targets are resulting in banks introducing fast-track graduate schemes, particularly in compliance, risk and private banking. Most national and regional banks now have specific training programmes to entice UAE graduates as they compete for limited pool of talent. TALENT SUPPLY Graduates with a GPA score of three or above in a finance-related degree are particularly attractive to banks that want to meet nationalisation targets without having to continually poach talent from rivals. At the d level, compliance officers are in high demand as banks look to comply with stringent rules imposed on the banking sector by regulators. Meanwhile, the development of the private banking and wealth management sectors within the UAE means that professionals with of working in these sectors are highly sought after. Since there is an undersupply of local talent with the appropriate expertise, employers will often recruit professionals who have GCC from financial centres such as London and Geneva. Salary & compensation trends While financial services professionals might have been anticipating healthy bonuses for 2015 this is now very unlikely to happen and salaries for 2016 are expected to stay relatively unchanged as a result of the ongoing volatility in the region and uncertainty in global markets. 3

4 Banking & Financial Services Corporate & Retail Banking in Local Banks Relationship Manager 13,000-25,000 27,000-30,000 31,000-39,000 40,000 + Relationship Director 35,000-40,000 40,000-50,000 50,,000-60,000 60,000 + Head of Corporate Banking 60,000-70,000 71,000-80,000 81,000-94,000 95,000 + Head of Wholesale Banking 63,000-75,000 75,000-90,000 91, , ,000 + Head of Restructuring and Remedial 65,000-75,000 75,000-85,000 85,000-90,000 90,000 + Head of Collections & Recovery 50,000-55,000 55,,000-60,000 65,000-70,000 70,000 + Head of GTB 60,000-70,000 70,000-80,000 80,000-90,000 90,000 + Product Management 42,000-50,000 51,000-60,000 60,000-65,000 70,000 + Head of Retail Banking 70,000-80,000 80,000-90,000 90, , ,000 + Head of Branches 45,000-55,000 55,000-65,000 65,000-75,000 75,000 + Head of Assets/ Liabilities 50,000-55,000 55,000-65,000 65,000-75,000 80,000 + Head of Direct Sales 45,000-49,000 50,000-60,000 62,000-70,000 75,000 + Head of Alternate Channels 50,000-60,000 60,000-70,000 70,000-80,000 80,000 + Head of Performance Management 45,000-55,000 60,000-70,000 70,000-75,000 80,

5 Banking & Financial Services Corporate & Retail Banking in International Banks Relationship Manager 18,000-24,000 25,000-28,000 28,000-39,000 40,000 + Relationship Director 38,000-44,000 44,000-55,000 55,000-60,000 60,000 + Head of Corporate Banking 60,000-70,000 70,000-80,000 85,000-95,000 96,000 + Head of Wholesale Banking 83,000-95, , , , , ,000 + Head of Restructuring and Remedial 65,000-75,000 75,000-85,000 85,000-90,000 90,000 + Head of Collections & Recovery 50,000-55,000 55,,000-60,000 65,000-70,000 70,000 + Head of GTB 60,000-70,000 70,000-80,000 80,000-90,000 90,000 + Product Management 43,000-48,000 49,000-60,000 60,000-65,000 66,000 + Head of Retail Banking 70,000-80,000 80,000-90,000 95, , ,000 + Head of Branches 45,000-55,000 57,000-65,000 65,000-75,000 75,000 + Head of Assets/ Liabilities 43,000-55,000 56,000-65,000 66,000-75,000 75,000 + Head of Direct Sales 55,000-60,000 65,000-70,000 75,000-80,000 80,000 + Head of Alternate Channels 52,000-60,000 62,000-70,000 72,000-80,000 85,000 + Head of Performance Management 50,000-60,000 63,000-70,000 73,000-80,000 80,

6 Banking & Financial Services Finance & Operations Salaries in International Banks Chief Operating Officer (COO) * , , , ,000+ Chief Finance Officer (CFO) * 70,000-90,000 91, , ,000 + Finance Director 50,000-60,000 62,000-80,000 85,000-95,000 95,000 + Financial Controller 25,000-28,000 28,000-35,000 35,000-45,000 45,000+ Head of MIS (Management Information Systems)& Reporting 45,000-55,000 55,000-65,000 65,000-75,000 75,000 + Finance Manager 18,000-22,000 22,000-25,000 25,000-30,000 30,000+ Management Accountant 10,000-14,000 15,000-22,000 22,000-26,000 25,000-35,000 Financial Planning & Analysis Manager 16,000-20,000 20,000-23,500 23,500-35,000 27,000+ Treasury Manager 20,000-23,000 23,000-30,000 30,000-35,000 35,000+ Budgeting Manager 15,000-18,000 18,000-22,000 22,000-30,000 30,000+ Reporting Manager 16,000-20,000 20,000-23,500 23,500-27,000 27,000+ Regulatory Reporting 10,000-15,000 15,000-20,000 20,000-25,000 25,000-35,000 Chief Accountant 12,000-15,000 15,000-20,000 20,000-30,000 35,000+ Financial Accountant 10,000-15,000 15,000-20,000 20,000-25,000 25,000-35,000 Head of Product Control 40,000-58,000 60,000-74,000 72,000-80,000 80,000 + Product Controller 20,000-25,000 25,000-30,000 30,000-35,000 35,000-45,000 Head of Fund Admin / Head of Accounting 55,000-65,000 65,000-75,000 75,000-85,000 85,000 + Fund Accountant Qualified 20,000-25,000 25,000-30,000 30,000-35,000 35,000-45,000 Financial Modeller 15,000-22,000 22,000-28,000 28,000-35,000 40,000+ Head of Custody 48,000-58,000 58,000-68,000 68,000-80,000 82,000 + Head of Internal Audit 48,000-60,000 60,000-72,000 72,000-84,000 85,000 + Internal Audit Manager 20,000-26,000 25,000-34,000 32,000-44,000 42,000 + Business Analyst / Business Manager 15,000-20,000 20,000-25,000 28,000-35,000 35,000 + *typically does not exist at this level 6

7 Banking & Financial Services ASSET MANAGEMENT SALARIES PERMANENT LOCAL BANKS Fund Manager 33,000-39,000 40,000-46,000 47,000-55,000 56,000-65,000 Asset / Portfolio Manager 33,000-37,000 38,000-42,000 42,000-46,000 47,000-58,000 Sales / Relationship Manager 23,000-28,000 29,000-36,000 37,000-42,000 42,000-45,000 Fund / Portfolio Managers Assistant 15,000-18,000 18,000-25,000 * * Research Analyst 15,000-18,000 18,000-25,000 26,000-40,000 * Trade Support 12,000-16,000 17,000-21,000 22,000-25,000 * ASSET MANAGEMENT SALARIES PERMANENT LOCAL BANKS Fund Manager 32,000-38,000 40,000-46,000 47,000-54,000 55,000-64,000 Asset / Portfolio Manager 33,000-38,000 39,000-43,000 44,000-47,000 48,000-59,000 Sales / Relationship Manager 22,000-27,000 28,000-32,000 33,000-41,000 42,000-50,000 Fund / Portfolio Managers Assistant 15,000-18,000 18,000-24,000 * * Research Analyst 15,000-18,000 18,000-24,000 25,000-39,000 * Trade Support 12,000-16,000 17,000-22,000 23,000-28,000 * *typically does not exist at this level 7

8 Banking & Financial Services PRIVATE BANKING SALARIES PERMANENT LOCAL BANKS Group Head 90, , , , , , ,000 + Managing Director 75,000-78,000 78,000-82,000 82,000-90,000 90, ,000 Director 58,000-60,000 61,000-65,000 65,000-71,000 71,000-74,000 Vice President 40,000-48,000 48,000-55,000 * * Assistant Vice President 34,000-40,000 * * * Chief Investment Officer 58,000-65,000 66,000-75,000 75, , ,000+ Investment Advisor - Director 48,000-52,000 52,000-64,000 65,000-75,000 * Investment Advisor - VP 38,000-42,000 42,000-49,000 * * PRIVATE BANKING SALARIES PERMANENT INTERNATIONAL BANKS Group Head 90, , , , , , ,000+ Managing Director 75,000-78,000 78,000-82,000 82,000-90,000 90, ,000 Director 58,000-60,000 61,000-65,000 66,000-70,000 71,000-74,000 Vice President 41,000-45,000 46,000-49,000 * * Assistant Vice President 34,000-40,000 * * * Chief Investment Officer 58,000-65,000 66,000-75,000 75, , ,000+ Investment Advisor - Director 50,000-52,000 52,000-64,000 65,000-75,000 * Investment Advisor - VP 38,000-42,000 42,000-49,000 * * *typically does not exist at this level 8

9 Accounting & Finance A review of the expected salaries for accounting and finance professionals in the UAE for Hiring Trends Thanks to the UAE weathering the decline in oil prices more successfully than other GCC countries, the federal government has been able to maintain the majority of its fiscal policies and the delivery of its large-scale projects. Businesses are therefore broadly confident about the region s growth prospects in the foreseeable future. This optimism is set to benefit accounting and finance professionals, as UAE employers seek to reorganise their finance teams and improve systems and processes all in anticipation of future expansion. The jobs market for accounting and finance professionals is extremely competitive, however, and UAE employers are becoming increasingly demanding with the criteria that they are setting for new hires. TALENT SUPPLY Although the regional economy has plateaued in recent months, partly due to the reduction in oil and gas activity, UAE employers continue to fill open vacancies and backfill permanent positions. They are also preparing for growth as a result of the government taking a number of measures to diversify the economy. This has led to a talent shortage as employers search out the best candidates to help take their organisations forward. Employers are keen to attract finance professionals with formal accounting qualifications who can bring financial discipline and improved controls to their organisations. The most sought-after candidates hold ACA, ACCA or CIMA qualifications, are familiar with US GAAP, IFRS and SOX accounting standards, can use accounting software (such as Oracle and SAP) and have three to five years of working for a multinational corporation. The GCC remains a unique region both culturally and economically. So in 2016 those candidates who will have the edge in the jobs market will be able to combine local knowledge with sector knowledge and. Nevertheless, the positive publicity being generated by the media has meant there is renewed interest in the UAE as an expatriate destination from finance professionals across the globe. 9

10 Accounting & Finance Salary & compensation trends In 2016 the salaries of accounting and finance professionals are expected to increase by 4% on average, above the forecast regional average of no growth or negative salaries. Individuals who are already based in the UAE can expect their salaries to increase by at least 5-6% when they move jobs, however. Rent and the cost of living are expected to remain similar to 2015, with net savings expected to increase. Part-Qualified Newly Qualified 2-5 years PQE 5-7 years PQE 10+ years PQE Chief Financial Officer * * * 62,000-70,000 70,000+ Financial Director * * * 57,000-62,000 62,000+ Financial Controller * * 33,500-39,500 38,000-51,000 51,000-57,000 Financial Planning Analysis Manager * * 28,000-32,500 * * Finance Manager 19,000-23,000 23,000-26,000 27,000-34,500 34,500-40,000 31,500+ Reporting Manager 12,000-14,000 14,000-16,500 16,500-19,000 19,000-22,000 25,000+ Budgeting Manager 13,500-15,000 15,000-16,500 16,500-20,000 20,000-25,000 25,000+ Treasury Manager 15,000-18,000 18,000-21,000 21,000-23,500 23,500-27,500 27,500+ Finance / Business Analyst 16,000-20,000 19,000-25,000 25,000-29,000 29,000-33,500 33,500+ Chief Accountant 16,000-20,000 21,000-26,000 26,000-31,000 31,000-34,500 34,500+ Financial Accountant 16,000-19,000 19,000-23,000 23,000-29,000 29,000-33,500 * Management Accountant 16,000-19,000 19,000-23,000 23,000-29,000 29,000-33,500 * Financial Modeller 15,000-17,000 17,000-20,000 20,000-25,000 25,000-35,000 35,000+ Head of Internal Audit / Internal Audit Manager * 19,000-25,000 25,000-31,000 31,000-35,500 35,500 + Internal Auditor 16,000-19,000 19,000-23,000 23,000-29,000 29,000-36,500 * Tax 19,000-23,000 23,000-27,000 27,000-34,500 34,500-42,000 42,000 + *typically does not exist at this level 10

11 Risk 2016 Salary Guide The UAE Banking & Financial Services Salary Guide 2016 includes salaries for credit risk, operational risk and market risk professionals in both local and international banks. Risk Salaries in Local Banks 10+ years PQE Chief Risk Officer 70,000+ Head of Credit Risk 55,000-62,000 62,000-69,000 70,000-79,000 80,000-85,000 62,000+ Credit Risk Manager 30,000-36,000 34,000-45,000 45,000-52,000 52,000-62,000 51,000-57,000 Credit Risk Analyst 12,000-18,000 18,000-27,000 28,000-32,000 32,000-36,000 * Credit Risk Policies Head 50,000-56,000 56,000-62,000 62,000-66,000 66,000-77,000 31,500+ Credit Risk Policies VP 38,000-42,000 42,000-45,000 45,000-48,000 48,000-50,000 25,000+ Credit Risk Portfolio Analyst 12,000-16,000 16,000-18,000 18,000-21,000 * 25,000+ Head of Risk Analytics 50,000-54,000 54,000-62,000 62,000-68,000 68,000-72,000 27,500+ Risk Analytics Manager 23,000-28,000 28,000-35,000 35,000-40,000 40,000-45,000 33,500+ Risk Analytics Officer 12,000-15,000 15,000-18,000 18,000-22,000 * 34,500+ Operational Risk Head 58,000-62,000 62,000-65,000 65,000-68,000 68,000-75,000 * Operational Risk Manager 25,000-30,000 31,000-36,000 36,000-40,000 40,000-44,000 * Operational Risk Analyst 15,000-18,000 18,000-25,000 * * 35,000+ Market Risk Head 56,000-60,000 60,000-65,000 65,000-75,000 76,000-80,000 35,500 + Market Risk Manager 24,000-28,000 28,000-34,000 35,000-42,000 42,000-45,000 * Market Risk Analyst 14,000-18,000 18,000-25,000 * * 42,

12 Risk 2016 Salary Guide Risk Salaries in International Banks 10+ years PQE Chief Risk Officer 70,000+ Head of Credit Risk 54,000-61,000 62,000-65,000 66,000-70,000 71,000-78,000 62,000+ Credit Risk Manager 28,000-33,000 34,000-38,000 39,000-42,000 43,000-45,000 51,000-57,000 Credit Risk Analyst 14,000-16,000 17,000-20,000 21,000-28,000 29,000-32,000 * Credit Risk Policies Head 48,000-54,000 55,000-60,000 61,000-68,000 68,000-78,000 31,500+ Credit Risk Policies VP 32,000-38,000 38,000-42,000 43,000-47,000 48,000-50,000 25,000+ Credit Risk Portfolio Analyst 14,000-17,000 18,000-22,000 23,000-26,000 * 25,000+ Head of Risk Analytics 42,000-45,000 46,000-49,000 50,000-53,000 54,000-57,000 27,500+ Risk Analytics Manager 23,000-28,000 29,000-33,000 34,000-39,000 39,000-42,000 33,500+ Risk Analytics Officer 13,000-17,000 18,000-22,000 23,000-25,000 26,000-32,000 34,500+ Operational Risk Head 53,000-56,000 57,000-60,000 61,000-66,000 67,000-72,000 * Operational Risk Manager 26,000-33,000 34,000-38,000 39,000-44,000 45,000-48,000 * Operational Risk Analyst 15,000-18,000 19,000-25,000 * * 35,000+ Market Risk Head 55,000-58,000 59,000-64,000 65,000-70,000 71,000-78,000 35,500 + Market Risk Manager 23,000-27,000 28,000-34,000 35,000-41,000 42,000-48,000 * Market Risk Analyst 13,000-16,000 17,000-22,000 * * 42,

13 Compliance 2016 Salary Guide Review the expected salaries for compliance professionals (including AML, KYC, FACTA) from graduate to senior level in the UAE in 2016, in both international and local banks. Compliance salaries in local banks Chief Compliance Officer (CCO) 81,000-90,000 86,000-95,000 96, , , ,000+ Head of Compliance 56,000-61,000 60,000-68,000 71,000-81,000 83,000-92,000+ Sanctions and AML Managers 30,000-34,000 33,000-38,000 38,000-44,000 45,000-51,000+ Compliance (FACTA Specialists) Compliance (UAE Nationals) Compliance Manager Generalists - Wholesale, Retail, Corporate Compliance Officer (Private Banking, Wealth, Investments) Compliance Officer (KYC, On boarding, CDD) 27,000-30,000 32,000-37,000 * * 17,000-22,000 23,000-28,000 28,000-34,000 36,000-50, ,000-34,000 33,000-37,000 35,000-39,000 40,000-47, ,000-23,000 24,000-28,000 28,000-35,000 34,000-40, ,000-21,000 22,000-26,000 27,000-33,000 30,000-35,000+ Compliance Analysts (Graduate) 12,000-15,000 14,000-18,000 * * *typically does not exist at this level 13

14 Compliance 2016 Salary Guide Compliance salaries in international banks Chief Compliance Officer (CCO) 77,000-88,000 87,000-99,000 98, , , ,000+ Head of Compliance 52,000-58,000 57,000-66,000 69,000-81,000 82,000-94,000+ Sanctions and AML Managers 33,000-36,000 35,000-39,000 37,000-42,000 43,000-47,000+ Compliance Licenced MLRO (DIFC) 27,000-31,000 32,000-37,000 38,000-44,000 44,000-51,000 Compliance Consultants 21,000-24,000 25,000-32,000 33,000-38,000 40,000-50,0000+ Compliance (FATCA Specialists) Compliance (UAE Nationals) Compliance Manager - Generalists - Wholesale, Retail, Corporate Compliance Officer - Private Banking, Wealth, Invest. products Compliance Officer (KYC, On boarding, CDD) 28,000-32,000 33,000-38,000 * * 18,000-23,000 22,000-26,000 27,000-35,000 38,000-46, ,000-33,000 32,000-37,000 40,000-45,000 43,000-48, ,000-24,000 25,000-28,000 30,000-36,000 35,000-41, ,000-22,000 23,000-26,000 25,000-32,000 31,000-36,000+ Compliance Analysts (Graduate) 13,000-17,000 16,000-19,000 * * *typically does not exist at this level 14

15 Supply Chain 2016 Salary Guide The UAE Supply Chain Salary Guide 2016 gives expected salary ranges for professionals working in supply chain, procurement, logistics and warehousing. Hiring Trends As investment in the GCC s manufacturing capability has increased, so has the prominence of the region s distribution, procurement and supply chain professionals. Manufacturing companies need support to source the raw materials that go into their products and to transport their finished goods to their customers. Since manufacturing companies are always looking to achieve the best prices from suppliers, procurement professionals who understand bids, contracts, negotiation and tender management are particularly sought after. Those with procurement in glass and wood manufacturing have proven to be very popular hires recently. Quality supply chain management is also becoming a priority for employers as they ramp up their distribution of products within the region. Warehouse managers and distribution managers are in high demand in Saudi Arabia, where there has been strong growth in manufacturing and distribution. Similarly, increased investment in manufacturing and distribution operations has led to more of these roles arising in the UAE Free Trade Zones. TALENT SUPPLY A shortage of local talent with distribution, procurement and supply chain expertise means that employers are tending to recruit from regions where the manufacturing industry is more advanced. While employers often look for professionals who can advise them on Western distribution practices, they still view the ability to speak and read Arabic, and to understand local culture, as being highly desirable attributes. 15

16 Supply Chain 2016 Salary Guide Salary & compensation trends Mirroring the trend in manufacturing and engineering, salaries in supply chain and procurement are expected to rise by 4-6% in While technical degrees are essential for commanding a decent wage in many positions, there is also a growing trend for procurement professionals to invest in neuro-linguistic programming courses and other psychology-based qualifications. This is because having an in-depth understanding of human nature and behaviour is seen as highly beneficial when negotiating. Supply Chain Director 30,000-39,000 35,000-54,000 52,000-68,000 68,000-96,000 Supply Chain Manager 21,000-32,500 25,000-37,000 39,000-47,000 48,000-56,500 Demand/Supply Planner 8,000-16,000 15,000-21,000 18,000-23,000 * Demand/Supply Planning Manager 19,000-24,000 25,000-31,000 28,000-32,000 30,000-35,000 Materials Engineer 6,000-9,000 10,000-16,000 12,000-18,000 17,000-19,000 Materials Manager 14,000-20,000 18,000-26,000 25,000-35,000 * Procurement Director 30,000-42,000 44,000-57,000 55,000-75,000 75,000-95,000 Procurement Manager 22,000-35,000 32,000-45,000 40,000-52,000 48,000-65,000 Category Manager 19,000-24,000 22,000-30,000 27,000-35,000 * Buyer 6,000-12,000 15,000-21,000 20,000-26,000 * General Manager 30,000-42,000 37,500-47,500 45,000-56,500 58,000-80,000 Operations Manager 18,000-28,000 25,000-35,000 38,000-45,000 40,000-57,500 Logistics Manager 16,000-22,000 22,000-27,000 25,000-35,000 32,000-42,000 Warehouse Supervisor 6,000-10,000 12,000-15,000 14,000-17,000 * Warehouse Manager 14,000-18,000 19,000-24,000 25,000-32,000 27,000-40,000 Senior Contracts Engineer 14,000-19,000 20,000-31,500 32,000-38,000 * Contracts Manager 22,000-28,000 26,000-35,000 36,000-48,000 45,000-55,000 Bid Manager 16,000-21,000 22,000-32,500 25,000-35,000 38,000-52,500 Trade Compliance Manager 15,000-23,000 21,500-32,000 24,000-34,500 35,000-50,000 *typically does not exist at this level 16

17 Manufacturing 2016 Salary Guide The Manufacturing 2016 Salary Guide explores hiring trends, talent supply and salary and compensation trends. Hiring Trends As oil prices have hit record lows, governments across the GCC have sought to diversify their economies. This has led to significant investment in the manufacturing sector. So there is strong growth among companies that produce consumer goods, medical devices, pharmaceuticals and aviation supplies. Companies are expanding their manufacturing facilities and buying new machinery, which has increased the need for technical talent across the region. There is strong demand for technical expertise across the entire process, from production expertise and quality assurance (regarding both the supply of raw materials and the finished product) to engineers and senior management. Junior technical engineers are in short supply and manufacturing businesses are struggling to fill junior chemist, engineer, laboratory, mechanical engineer, production specialist and R&D roles. On the engineering side, heating, ventilation, and air conditioning (HVAC) engineers are particularly sought after due to the widescale use of air conditioning systems. Knowledge of the Arab language and business culture is highly desirable to employers. TALENT SUPPLY Manufacturing in the UAE is less advanced than in Europe and the US so there is a shortage of technical talent in the GCC region. Traditionally, UAE nationals have also tended to veer towards careers in the public sector or in finance since they perceive these as being more stable. So manufacturing companies are having to look farther afield to India, Europe and the US to source the right talent. Nationalisation quotas proved a challenge for manufacturers in Companies found it extremely difficult to get visas approved for foreign nationals if they had not met their nationalisation quotas. Meanwhile, men continue to dominate the manufacturing and engineering sectors in the GCC. 17

18 Manufacturing 2016 Salary Guide Salary & compensation trends We expect salaries for engineering and manufacturing professionals to rise by 4-6% in This is because employers will be looking to retain talent amid rumours that tax is going to be introduced in the UAE. The introduction of taxation would probably result in an exodus of expatriate talent since most foreign nationals are predominantly attracted to the UAE for its tax-free living. Lean Six Sigma Black Belt 9,000-14,000 15,000-21,000 22,000-27,000 29,000-34,000 Master Black Belt 13,000-18,000 18,000-24,000 23,000-29,000 29,000-37,000 Lean Expert 9,000-15,000 15,000-19,000 20,000-28,000 29,000-35,000 Operations Manager 19,000-22,000 25,000-30,000 31,000-42,000 38,000-55,000 Production / Factory Manager 15,000-18,000 18,000-23,000 23,000-33,500 32,000-45,000 Production Supervisor 7,000-12,000 12,000-19,000 17,000-25,000 25,000-28,000 Continuous Improvement Manager Lean Six Sigma Manager 14,000-19,000 18,000-24,000 23,000-30,000 28,000-37,000 15,000-19,000 18,000-24,000 22,000-35,000 36,000-45,000 Plant Manager 20,000-23,000 25,000-32,000 28,000-37,000 37,000-55,000 Quality Engineer Assurance and Control Quality Manager Assurance and Control 8,000-12,000 13,000-18,000 * * 16,000-21,000 18,000-25,000 19,000-29,000 30,000-44,000 HSE Engineer 8,000-12,000 13,000-18,000 * * HSE Manager 16,000-21,000 18,000-25,000 20,000-30,000 28,000-42,000 Process Development Manager 17,000-22,000 20,000-27,000 26,000-35,000 34,000-48,000 Process Innovation Manager 16,000-21,000 20,000-26,000 27,000-35,000 33,000-46,000 *typically does not exist at this level 18

19 Manufacturing 2016 Salary Guide Salary & compensation trends 3-5 years Process Engineer 10,000-13,000 12,000-18,000 16,000-26,000 * Process Engineering Manager 16,000-21,000 18,000-24,000 22,000-28,000 27,000-40,000 Manufacturing Engineer Manufacturing Engineering Manager 9,000-12,000 12,000-17,000 * * 17,000-22,000 18,000-23,000 21,000-29,000 30,000-38,000 Head of R&D 14,000-19,000 16,000-22,000 21,000-32,000 33,000-48,000 Civil Engineer 6,000-13,500 14,000-18,000 15,000-22,000 18,000-26,000 Design Engineer 7,000-13,000 13,500-19,000 18,000-26,000 23,500-30,000 Maintenance Engineer 8,000-12,000 12,000-17,000 * * Maintenance Manager 17,000-23,000 23,000-27,000 27,000-32,000 31,000-40,000 Mechanical Engineer 8,000-12,000 12,000-17,000 * * Mechanical Manager 18,000-24,000 24,000-28,000 26,000-33,000 34,000-45,000 Electrical Engineer 8,000-12,000 12,000-16,000 * * Electrical Engineering Manager 14,000-18,000 19,000-23,000 24,000-27,000 28,000-45,000 General Manager 40,000-48,000 45,000-60,000 55,000-80,000 75, ,000 Chief Production Officer 55,000-65,000 62,500-79,000 80,000-97,000 * Operations Director 59,000-74,000 75,000-96,000 78, ,000 * Managing Director 63,000-78,000 79,000-95, , ,000 * *typically does not exist at this level 19

20 Sales & Marketing 2016 Salary Guide Review salaries and hiring trends for sales, marketing and marketing professionals in technical sales, FMCG, healthcare in the UAE Salary Guide Hiring Trends Overall, 2015 was a tough year for sales and marketing professionals due to businesses in the UAE being affected by political upheaval across the Middle East. The ongoing conflicts in Libya and Syria resulted in a complete collapse of demand, while the Egyptian and Tunisian markets are still recovering from the Arab Spring. Iraq is also proving to be a very challenging market to operate in. A particular challenge facing sales professionals is logistics, which has become much more challenging due to border closures and other associated risks. The costs of shipping products around the region have increased significantly and insurance prices are at an all-time high. On a positive note, the UAE has withstood the decline in oil prices reasonably well and was able to maintain a steady economy during the course of This had a positive impact on sales and marketing professionals who were able to capitalise on the fact that lower oil and gas prices reduced manufacturing and supply chain costs. The GCC and the UAE in particular benefits from an affluent and growing population with a rising disposable income, which is continuing to drive modest growth. Companies in the region are therefore prioritising improved operations and working strategically to strengthen their position in the market. TALENT SUPPLY Dubai remains an important business hub for the Middle East and North Africa. As a result, it provides some great opportunities to d sales and marketing professionals. Nevertheless, the job market across the GCC will continue to be extremely competitive in 2016 and employers will become even more specific regarding their requirements for new hires. In particular, there is a strong demand within the region for sales and marketing professionals with gained at a multinational corporation. Hiring of sales and marketing professionals in Saudi Arabia increased dramatically last year and we expect this trend to endure in

21 Sales & Marketing 2016 Salary Guide Salary & compensation trends Economic growth, inflation and fiercer competition for talent means that the salaries for sales and marketing professionals are expected to increase by 4-6% on average during the course of Significantly, however, candidates who are already based in the UAE can look forward to pay rises of 15-20% when they move jobs. Technical Sales Sales Director 47,000-49,500 50,000-54,500 55,000-59,000 60,000+ Sales Manager 25,000-29,000 30,000-35,000 36,000-37,000 38,000+ Regional Sales Manager 25,000-32,000 33,000-36,000 37,000-42,000 42,000+ District Manager 25,000-30,000 30,000-33,000 33,000-37,000 37,000+ Technical Sales Manager 15,000-18,000 19,000-22,000 22,000-27,000 27,000+ Technical Account Manager 15,000-17,000 18,000-21,000 22,000-25,000 25,000+ Sales Engineer 12,000-14,000 14,000-15,000 16,000-17,000 17,000+ PreSales Engineer 9,000-10,000 11,000-12,000 13,000-14,000 * Systems Engineer 12,000-15,000 16,000-18,000 19,000-24,000 25,000+ Application Sales Engineer 9,000-10,000 11,000-12,000 13,000-14,000 * *typically does not exist at this level 21

22 Sales & Marketing 2016 Salary Guide FMCG Sales General Manager 50,000-57,000 57,000-63,000 60,000-75,000 80,000+ Sales Director 40,000-50,000 50,000-60,000 60,000-70,000 70,000+ Regional Sales Manager 30,000-35,000 35,000-40,000 40,000-45,000 45,000-55,000 Area Sales Manager 25,000-30,000 30,000-35,000 35,000-40,000 40,000-45,000 Sales Manager 15,000-20,000 20,000-25,000 25,000-30,000 30,000-40,000 Key Account Manager 15,000-18,000 18,000-25,000 25,000-35,000 35,000-45,000 Trade Marketing Manager 15,000-18,000 18,000-25,000 25,000-35,000 * Sales Executive 10,000-12,000 12,000-15,000 15,000-18,000 * Country Manager 35,000-40,000 45,000-50,000 50,000-55,000 55,000-60,000 Brand Manager 15,000-18,000 18,000-25,000 25,000-35,000 35,000-45,000 22

23 Sales & Marketing 2016 Salary Guide Healthcare Sales Sales Representative 17,000-22,000 22,000-26,000 * * Product Specialist 15,000-20,000 21,000-26,000 * * Area Sales Manager 25,000-30,000 30,000-34,000 34,000-39,000 39,000+ Business Development Manager Snr. Business Development Manager 20,000-25,000 26,000-31,000 31,000-35,000 36, ,000-30,000 30,000-35,000 36,000-41,000 41,000+ Key Account Manager 17,000-21,000 21,000-27,000 27,000-31,000 31,000+ Country Manager 28,000-32,000 32,000-36,000 36,000-42,000 42,000+ Market Access Manager 26,000-32,000 33,000-41,000 42,000-48,000 48,000+ Regional Sales Manager 30,000-35,000 36,000-41,000 41,000-46,000 46,000+ Regional Sales Director 45,000-49, ,000-56,000 57,000-63,000 63,000+ Regional Commercial Manager 30,000-35,000 36,000-41,000 41,000-46,000 47,000+ Regional Commercial Director 45,000-49,000 50,000-56,000 57,000-63,000 63,

24 Sales & Marketing 2016 Salary Guide Marketing & Communications Marketing Executive 10,000-15,000 16,000 + * * Marketing Manager 20,000-24,000 25,000-27,000 28,000-37,000 * Marketing Director 40,000-50,000 55,000-65,000 70,000-75,000 80,000 + PR Account Executive 11,000-14,000 15,000 + * * PR Account Manager 16,000-18,000 19,000 + * * PR Account Director 21,000-24,000 25,000-27,000 28,000-38,000 38,000-45,000 Corporate Communications Manager Head of Corporate Communications Digital Account Manager Digital Account Director 27,000-30,000 30,000-35,000 36,000-45,000 45, ,000-55,500 55,000-60,000 60,000-75,000 80, ,000-24,000 25,000-28,000 29,000-35,000 35, ,000-31,000 32,000-35,000 35,000-41,000 42,

25 Human Resources 2016 Salary Guide The UAE HR Salary Guide 2016 looks at salaries for senior HR, recruitment, learning and development and employee relations professionals. Hiring Trends Low oil prices have particularly hit the oil, gas and construction sectors over the past 12 months. This has resulted in HR professionals who work in those sectors being made redundant on a large scale. Some were struggling to find work for up to five months in the latter part of 2015 as companies across all sectors implemented hiring freezes. The federal government has been looking at investing in other industries to promote economic growth and reduce the UAE s reliance on oil production. At the forefront of this diversification strategy has been the manufacturing sector, particularly fast moving consumer goods (FCMG), pharmaceuticals and healthcare. Growth in these industries has therefore resulted in high demand for HR professionals, particularly those with of multinational companies. Sector is less important due to the transferable nature of HR skills. More roles for HR professionals are expected to arise in the first half of 2016 as budgets are approved and companies begin to recruit again. TALENT SUPPLY Talent supply was not an issue in 2015 since sweeping redundancy programmes put large numbers of d HR professionals out of work for prolonged periods. We expect the pool of available talent to shrink in 2016, however, as fast-growing companies in the manufacturing sector create more opportunities. HR professionals with multinational are very attractive to regional companies, which view their expertise as a means of gaining a competitive edge over rivals and being on a more equal footing with multinational organisations. We have seen increased demand for HR professionals with an Arabic background at junior and middle levels, but candidates for the more senior, managerial positions still tend to be sourced internationally. Due to cultural factors, as well as the predominantly male population in the region (men account for 75% of the population in Dubai, for example), most of the HR candidates who have been placed over the past year have been male. Continued on next page 25

26 Human Resources 2016 Salary Guide Salary & compensation trends Salaries are expected to increase by approximately 2-5% in HR professionals who hold Chartered Institute of Personnel and Development (CIPD) qualifications are able to command higher salaries than their peers who lack them. CIPD-qualified individuals are perceived as being able to make a significant contribution to their organisations by enhancing structures, building competitive compensation packages and analysing the market more efficiently. CHRO 50,000-65,000 65,000-75,000 75,000-95,000 95, ,000 HR VP 45,000-65,000 65,000-75,000 75,000-85,000 85, ,000 HR Director (Group) 40,000-60,000 60,000-75,000 75,000-85,000 85, ,000 HR Manager 25,000-30,000 30,000-35,000 35,000-40,000 40,000-45,000 Recruitment Manager 18,000-20,000 20,000-25,000 25,000-30,000 30,000-40,000 Recruiter 12,500-15,000 15,000-18,000 18,000-21,000 21,000-25,000 Recruitment Specialist 12,000-14,000 14,000-16,000 16,000-18,000 18,000-21,000 Compensation & Benefits Manager Learning & Development Manager Learning & Development Specialist 20,000-22,500 22,500-25,000 25,000-30,000 30,000-45,000 18,000-20,000 20,000-25,000 25,000-30,000 30,000-35,000 10,000-18,000 18,000-20,000 20,000-25,000 22,000-25,000 Training Manager 18,000-20,000 20,000-25,000 25,000-30,000 30,000-35,000 Employee Relations Manager 18,000-20,000 20,000-25,000 25,000-30,000 30,000-36,500 HR Operations Manager 20,000-22,000 22,000-25,000 25,000-30,000 30,000-40,000 Talent & Acquisition Manager 20,000-23,000 23,000-27,000 27,000-30,000 30,000-40,000 Talent & Acquisition Specialist 15,000-17,000 17,000-19,000 19,000-22,000 22,000-25,000 Human Resources Business Partner 20,000-25,000 25,000-30,000 30,000-35,000 35,000-45,000 HR Advisor 12,000-21,000 21,000-25,000 25,000-30,000 30,000-45,000 HR Generalist 15,000-20,000 20,000-25,000 25,000-30,000 35,000-40,000 26

27 Construction 2016 Salary Guide The UAE Construction Guide 2016 reviews hiring trends, talent supply, salary and compensation trends as well as salary bandings for construction professionals working in both interiors and contracting Construction - Interiors 2016 Salary Guide Construction - Contracting 2016 Salary Guide Hiring Trends Demand was strong for construction professionals in 2015, particularly during the first half of the year when master developers were making a significant number of hires. Low oil prices have begun to affect government budgets throughout the GCC, however, making public spending cuts likely. The squeeze on budgets, coupled with the regional conflicts taking place, has created uncertainty within the private sector and led to several projects being put on hold. Some construction professionals have been let go when their projects ended and while many of the larger developers have pushed ahead with both existing and new large projects, the pace of hiring slowed in the second half of the year. Fortunately, many projects are either starting or continuing and deadlines must also be met for major regional events such as the Dubai Expo 2020 and the FIFA World Cup. TALENT SUPPLY As more construction projects commence in Europe, India and the US (as a result of strengthening economies in those markets) the GCC faces stiff competition for top talent. Yet employers in the GCC are still reluctant to consider people who lack local, an issue that has been intensified by the implementation of nationalisation targets across the region. Saudi Arabia, for example, has introduced fines for employers that don t have enough Saudi nationals in their workforces. Most construction firms in the Middle East are struggling to attract nationals into the industry. They are also finding it difficult to entice construction professionals away from their competitors without paying a salary premium. Salary & compensation trends Despite the low oil prices, the private sector still needs highly skilled construction professionals particularly those who have local GCC. Since these people are hard to find, employers are increasingly willing to make counter offers to retain staff who had been planning to move to a competitor. During 2015, salaries increased by 5-10% across the board. Next year is likely to be a tougher environment, however, and we expect salaries to increase by 2-5%. Given market conditions, employers are likely to take a more considered approach to hiring in 2016 but talented construction professionals should still find good opportunities in the market. 27

28 Construction 2016 Salary Guide Construction - Interiors 2016 Salary Guide Managing Director 55,500-65,000 65,500-73,000 73,500-83,000 83, ,000 Project Director 48,500-59,000 59,500-69,000 69,000-79,500 79,500-96,000 Operations Director 47,000-55,500 55,000-64,000 64,500-73,000 73,000-91,500 Senior Project Manager 58,500-64,000 63,500-68,000 68,500-78,500 78,000-88,500 Project Manager 45,000-52,000 53,000-62,000 62,000-72,500 73,000-79,000 Contracts Manager 46,500-53,000 53,500-58,00 58,500-62,000 63,000-67,000 Project Engineer 26,000-31,000 31,000-36,500 37,000-42,000 42,000-53,000 Site Manager 31,500-36,500 37,000-42,000 42,000-47,000 47,500-53,000 Site Foreman 11,000-16,000 16,000-21,000 21,000-21,000 26,000-31,500 Site Engineer 21,000-26,000 21,000-37,500 36,500-47,500 47,500-58,000 Commercial Director 50,000-58,500 59,000-68,500 68,500-73,500 73,500-83,000 Commercial Manager 48,000-55,000 55,500-62,000 62,500-68,000 68,000-72,000 Contracts Manager 47,500-53,000 53,500-62,000 63,000-69,000 69,500-74,500 Senior Quantity Surveyor 35,500-41,500 42,000-52,000 52,500-58,000 58,500-64,000 Quantity Surveyor 28,500-33,000 33,500-40,500 41,500-53,000 53,500-60,000 Planner / Scheduler 26,000-31,000 31,500-40,000 41,000-52,000 52,000-57,000 Estimator 17,000-22,000 22,000-25,500 26,000-30,500 31,000-35,500 Business Development Director Business Development Manager 32,000-35,500 35,000-38,500 45,500-47,000 50,500-61,000 21,500-25,000 31,000-34,000 34,500-42,000 42,000-50,500 Sales Manager 22,000-27,000 28,000-35,500 36,000-41,000 41,500-52,000 Sales Engineer 22,000-27,500 27,500-31,000 31,000-37,500 37,000-41,000 *typically does not exist at this level 28

29 Construction 2016 Salary Guide Salary ranges for professionals in main contracting (construction) in 2016 in the UAE Main Contracting Managing Director- General Contractor 85,000-90,000 90,000-95,000 95, , , ,000 Director 68,000-70,000 70,000-72,000 72,000-75,000 75,000-80,000 Project Director 48,000-50,000 50,000-52,000 52,000-55,000 55,000-60,000 Senior Project Manager 42,000-45,000 45,000-48,000 48,000-50,000 50,000-55,000 Project Manager 38,000-40,000 40,000-42,000 42,000-45,000 45,000-48,000 Assistant Project Manager 28,000-32,000 32,000-35,000 35,000-38,000 38,000-40,000 Contracts Manager 40,000-42,000 42,000-45,000 45,000-48,000 48,000-50,000 Commercial Director 52,000-55,000 55,000-60,000 60,000-65,000 65,000-70,000 Commercial Manager 40,000-43,000 43,000-45,000 45,000-48,000 48,000-52,000 Senior Quantity Surveyor 30,000-33,000 33,000-35,000 35,000-38,000 38,000-45,000 Quantity Surveyor 20,000-23,000 23,000-25,000 25,000-27,000 27,000-30,000 Planning Manager 30,000-32,000 32,000-35,00 35,000-38,000 38,000-40,000 Sales Manager 20,000-25,000 25,000-30,000 30,000-35,000 35,000-40,000 *typically does not exist at this level 29

30 Oil & Gas 2016 Salary Guide The oil and gas salary guide 2016 looks at salary ranges for professionals working in exploration and production (E&P), drilling, engineering, procurement and construction (EPC) and project control. E&P Exploration Director 59,000-61,000 66,000-68,000 72,00-75,000 75,000+ Exploration Manager 54,000-55,000 59,000-62,000 61,000-66,000 65,000+ Petroleum Engineering Manager 52,500-55,200 56,000-58,800 58,500-64,500 66,000+ Geologist 24,000-25,000 27,000-28,400 33,000-34,700 47,000+ Geophysicist 24,000-25,000 27,800-29,200 34,000-35,700 46,000+ Reservoir Engineer 26,000-27,500 33,500-35,200 39,000-41,000 6,0000+ Drilling Engineer 28,500-30,000 34,000-35,700 43,000-45,200 56,000+ Drilling General Manager 47,000-49,000 51,000-53,000 60,000-65,000 78,000+ Company Man 31,000-32,000 36,000-37,400 43,000-45,000 52,000+ Rig Manager 31,000-33,000 36,000-38,600 45,000-47,000 57,000+ Toolpusher 23,000-25,000 28,000-30,000 34,000-36,000 44,000+ Crew Chief 25,000-26,300 32,00-33,000 35,000-37,000 48,000+ Offshore Installation Manager 28,000-3, ,000-37,000 46,000-48,000 56,000+ Drilling Superviser 19,000-21,000 22,000-23,000 29,000-31,000 37,000+ Driller 17,000-13,000 21,000-23,000 22,000-25,000 30,000+ Roughneck 15,000-16,000 17,000-18,000 22,000-23,000 27,

31 Oil & Gas 2016 Salary Guide The oil and gas salary guide 2016 looks at salary ranges for professionals working in exploration and production (E&P), drilling, engineering, procurement and construction (EPC) and project control. EPC 0-3 years' Managing Director / CEO * * 78, , ,000+ Plant Manager * 34,000-38,000 45,000-49,000 64,000+ Engineering Manager * 29,000-31,000 37,000-41,000 58,000+ HSE Manager * 24,000-29,000 38,000-41,000 53,000+ Construction Manager * 27,000-30,000 39,000-43,000 57,000+ Commissioning and Construction Engineer * 19,000-21,000 26,000-28,000 43,000+ Design Engineer * 17,000-21,000 25,000-27,000 38,000+ Team Leader / Foreman / Superviser * 12,000-13,000 18,000-21,000 25,000+ Technician * 9,000-11,000 14,000-17,000 17,000+ Project Control Project Manager * 28,000-33,000 46,000-49,000 68,000+ Procurement Manager * 30,000-33,000 43,000-44,000 54,000+ Contracts Manager * 32,000-33,000 41,000-43,000 53,000+ Project Engineer * 21,000-23,000 30,000-32,000 48,000+ Planning Engineer * 20,000-23,000 31,000-34,000 48,000+ Cost / Estimating Engineer * 22,000-25,000 31,000-33,000 48,000+ Logistics / Warehouse Administrator *typically does not exist at this level * 15,000-18,000 21,000-23,000 28,

32 Metal & Mining 2016 Salary Guide Included in the UAE Salary Guide 2016 are salary ranges for mining and metal professionals working in the energy sector. CEO 60,000-70,000 70,000-80,000 80,000-90,000 90,000+ Head of Technical 50,000-60,000 60,000-70,000 70,000-80,000 80,000+ Head of Production 50,000-60,000 60,000-70,000 70,000-80,000 80,000+ Head of Maintenance 50,000-60,000 60,000-70,000 70,000-80,000 80,000+ Head of Operations 50,000-60,000 60,000-70,000 70,000-80,000 80,000+ Production Manager 30,000-35,000 35,000-40,000 40,000-45,000 45,000+ Environmental Manger 30,000-35,000 35,000-40,000 40,000-45,000 45,000+ DCS Manager 30,000-35,000 35,000-40,000 40,000-45,000 45,000+ HSE Manager 30,000-35,000 35,000-40,000 40,000-45,000 45,000+ Superintendant 20,000-25,000 25,000-30,000 30,000-35,000 35,000+ Engineer 20,000-25,000 25,000-30,000 30,000-35,000 35,000+ Supervisor 10,000-15,000 15,000-20,000 20,000-25,000 25,000+ Technician 10,000-15,000 15,000-20,000 20,000-25,000 25,000+ Shift Operator 10,000-15,000 15,000-20,000 20,000-25,000 25,000+ *typically does not exist at this level 32

33 Power Generation 2016 Salary Guide Find out about expected salaries for those working in the power generation sector in the UAE for Managing Director / CEO - Multinational Manager Director / CEO - SME General Manager - Multinational 60,000-71,000 71,800-83,500 84, , , ,000 55,000-66,000 66,000-75,000 75,000-87,000 87, ,000 48,500-59,000 60,000-71,000 71,000-85,000 85, ,000 General Manager - SME 38,000-49,000 49,000-59,000 59,000-75,000 75,000-94,500 Plant Manager 26,500-32,000 32,000-43,000 43,000-48,000 48,000-58,000 Engineering Manager 23,000-28,000 28,000-34,000 34,000-44,000 45,000-54,000 Production Manager 22,000-27,000 27,000-34,000 34,000-42,000 43,000-49,000 Operations Manager 24,000-30,000 30,000-36,000 36,000-41,000 41,000-50,000 Technical Sales Manager 28,000-35,000 35,000-42,800 42,800-50,500 55,500-62,000 Sales Engineer 11,000-14,000 14,000-17,500 17,500-21,000 21,000-27,000 HSQE Manager 20,000-23,500 24,000-31,000 31,000-43,000 43,000-54,000 Commissioning Engineer / Manager 20,000-24,000 24,000-31,000 32,500-43,000 43,800-55,000 Process Engineer 12,000-16,000 16,000-19,500 19,500-24,000 25,000-28,500 Technical Engineer 11,500-13,000 13,000-16,000 16,500-21,000 22,000-26,000 Production Team Leader 9,000-12,500 13,000-16,000 16,000-21,500 21,500-28,000 Estimation Engineer 7,500-11,000 11,000-14,000 14,000-16,500 16,500-19,000 Technician 5,500-8,500 8,500-12,000 12,000-15,000 15,000-17,500 33

34 UAE Nationals 2016 Salary Guide See expected salaries for Emirati graduates (up to five years ) within banking and financial services in the UAE in Hiring Trends The banking and financial services sector continues to compete fiercely with the public sector for the most talented UAE nationals. Encouragingly, there are signs that graduates are becoming keener to explore career options outside the public sector and they are looking increasingly favourably at banks. They appreciate that while banking can be hard work, it offers the potential for personal growth and exposure to a global market. Families exert a strong influence on the decisions that individuals make regarding their careers. As a result, Emiratis who want to enter banking often come under pressure to work for an Islamic bank rather than a conventional bank. While this family influence is waning, it is still evident at the junior end of the market. Graduates understand that education can give them a strong competitive edge in the marketplace, particularly when they are competing with expats for attractive positions. Therefore, many individuals choose to further their personal development with master s degrees and MBAs. They also see having an advanced level of education as being crucial to securing a higher salary when they enter the workplace. Overall, women were filling around 70% of the retail banking roles that came up in 2015 although men were more likely to be recruited into senior, managerial roles. TALENT SUPPLY There is a sufficient supply of Emiratis to fill the banking positions that arise. Hiring processes are being held up, however, by the fact that some employers are not offering salaries that match the expectations of UAE nationals with several years. In these circumstances, it is necessary to enter into negotiations with the banks and to ask them either to require fewer years for the role or to increase the salary on offer. Continued on next page 34