robert half middle east salary guide 2016
TRANSCRIPT
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2016SALARY GUIDE
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CONTENTS
34
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31
From the Senior Managing Director
Using the Salary Guide
Overview
Accounting and finance
Accounting and finance hiring
Accounting and finance salaries
Financial services
Financial services hiringFinancial services salaries
Technology
Technology hiring
Technology salaries
Human resources and administration
Human resources and administration hiring
Human resources and administration salariesLegal
Legal hiring
Legal salaries
Additional remuneration trends
Hiring for the right cultural fit
About Robert Half
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FROM THE SENIOR MANAGING DIRECTOR
As the international economy improves and United ArabEmirates (UAE) markets prepare for growth, it is becominghugely important for companies in the region to prioritiseattracting skilled professionals with a comprehensiverecruitment strategy. Competition for the best candidatesis a heated race and will continue to rise alongsidebusiness confidence.
UAE companies are not only looking for candidates withproven skills but also those with the right cultural fit whocan work with the rest of the team to build the businesssuccessfully. To attract and secure those candidates in a
tighter skills market, companies need to offer attractive andcompetitive remuneration and benefits packages.
The Robert Half 2016 Salary Guide can help achieve thosegoals by providing a reliable benchmark of jobs and salariesin the UAE. The guide includes the most accurate and up-to-date information onremuneration, benefits and workplace challenges as well as a forecast for the yearahead. The guide covers five areas of recruitment: accounting and finance, financialservices, technology, legal, and human resources and administration professions.There is also a useful section on how to hire for cultural fit on page 30.
For more information on remuneration trends and recruitment insights, visit our salarycentre at roberthalf.ae/salary-centre.
Regards,
Ian GravesSenior Managing Director, Continental Europe and Middle East
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USING THE SALARY GUIDE
Robert Half Salary Guides have been a highly regarded resource for employers for decades. They provideunique insights into hiring trends and emerging issues affecting professionals.
Each year, employers use our Salary Guide to set compensation levels for new hires, plan budgets andbetter understand the hiring environment.
Competitive compensation is a company’s best line of defence against losing top talent, and the 2016Salary Guide features salary ranges for nearly 200 permanent positions across the UAE.
The salary figures are based on a number of sources, most notably the significant number of placements ourrecruiting professionals make each year. Our experts interact with hiring managers and candidates daily,which gives us the most up-to-date, real-world insight into the latest remuneration trends.
Our sources include:
• Market observations from Robert Half consultants working with senior executives, hiringmanagers and candidates, giving our consultants unique insights into remuneration trends
• Permanent placements made each year by our recruitment consultants across the region
• Independent research we conduct regularly among human resources (HR) directors andchief financial officers (CFOs).
The projected salaries for each position reflect starting pay only. Bonuses and other forms of reward, suchas expatriate incentives and benefits plans, are not taken into account. We recognise that salary rangesmay vary by industry and are influenced by hard-to-find skill sets. Please speak with one of our consultants to discuss specific factors affecting your sector.
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OVERVIEW
The hiring climateBusinesses are focused on improving their operations and maintaining their position in the market. Although the regional economy has plateaued in recent months – attributed slightly to the reduction inoil and gas activity – UAE employers continue to fill open vacancies and backfill permanent positions.
The region’s successful bid for Expo 2020 continues to drive up optimism for business growth over the comingyears, and this in turn is creating a shortage of the best candidates to help take organisations forward.
As a result, 93% of CFOs in the region find it challenging to secure skilled, professional-level employees. Almost half (48%) say that the primary reason for this is the lack of niche, technical experts.
As international economies, particularly in the United States (US), United Kingdom (UK) and Europe returnto pre-recessionary levels, UAE companies are having to compete on an international scale to attract top-performing candidates as the perceived benefits of relocating to the UAE for these candidates have diminished.
With the decline in offering all-inclusive relocation incentives combined with rising living costs, businessesare investing in training and development and career progression opportunities for existing staff.
Source: Robert Half survey of 75 UAE CFOs.
Reasons it's challenging to find skilled professionals
48%Lack of niche,
technical experts
19%General demandoutweighs supply
27%Lack of commercial,
business skills
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Factors driving the stronger labour market
35%
Higher confidenceamong employers
27%
Economicclimate
28%
Higher confidenceamong employees
25%
Increasedjob creation
Key trends affecting hiring
Market observers including PwC1 believe that the Middle East and Africa (MEA) are on the brink of asignificant increase in mergers and acquisitions (M&A) deal flow, despite regulatory and cultural barriersthat will continue to limit activity in some areas. M&A activity is predicted to take off most quickly in the
education, healthcare, retail and consumer sectors, sparking a rise in demand for accounting and financeprofessionals in those markets.
The UAE region continues to benefit from its long-standing policy of diversification away from oilproduction. The most popular asset class for UAE investors is real estate, with 67% believing it to be thebest per forming asset in 2015, according to a survey by Franklin Templeton2.
This interest in real estate is echoed by the fact that the construction sector topped a recent list of majoremployers, followed by the business sector. The region’s Ministry of Labour 3 commented that the businesssector made up a quarter of total employment and that the UAE’s labour market is ‘heading towardsattracting talent and expertise in specialised and technical professions’.
Even with the plateau of the economy and reduction in government spending, companies are broadlyoptimistic about the region’s growth prospects in the year ahead. The majority (85%) of finance directorssay that they are more optimistic about economic growth than 12 months ago, while 89% say that they aremore optimistic about their own company’s prospects than a year before.
Source: Robert Half survey of 75 UAE CFOs. Multiple responses permit ted.
1 www.pwc.com/en_M1/m1/publications/megatrends-in-mergers-and-acquisitions.jhtml2 gulfbusiness.com/2015/05/real-estate-ranked-favoured-asset-class-uae-investors-survey/#.VX7exPlVikp3 www.arabianbusiness.com/revealed-uae-s-labour-market-hits-new-high-with-4-4m-in-jobs-589093.html#.VX7fmVikp
The region continues to benet from its long-standing policyof diversication away from oil production
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Factors prompting employees to leave
24%
Work–lifebalance
27%
Career advancement
29%
Higher remuneration(including salary, bonus
and benefits)
$
13%
Location
7%
Corporateculture
Source: Robert Half survey of 75 UAE HR directors.
Retention concerns As skills shortages continue to bite, HR directors are becoming more concerned about losing talentedprofessionals to the competition, locally and internationally. Almost three-quarters (72%) say that theyare worried about top performers leaving to take up other job opportunities in the next year.
HR directors believe that the main reason for employees to leave the company is the offer of higherremuneration, with 29% citing this as the top motivator. Other reasons to leave include careeradvancement (27%), better work–life balance (24%), better location (13%) and better corporateculture (7%).
Bearing all this in mind, it’s more important than ever for companies to benchmark existing employees’
remuneration packages against current industry standards to avoid employees leaving for greener pastures.
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ACCOUNTING AND FINANCE HIRING
of CFOs find it challenging to source
skilled financial professionals
The hiring climate
Accounting and finance recruitment is looking positive, although companies are still cautious whenconsidering who and when to hire. Companies are generally seeking to fill specific gaps in their teams aswell as to invest in new initiatives such as system implementation and business partnering.
As a result of this activity, the accounting and finance skills shortage is already concerning CFOs in theregion, who report that it is increasingly difficult to find the right candidates. The vast majority (93%) ofCFOs say that they find it challenging to find skilled financial professionals today.
The main reason for this challenge is the lack of niche, technical experts available in the market withcommercial business skills.
Looking at the roles that are most difficult to fill, CFOs state that functional areas including accounting, financialand management control, business and financial analysis and audit present the toughest challenges.
93%
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Source: Robert Half survey of 75 UAE CFOs. Multiple responses permit ted.
Career development is the main attraction strategy offered to
international talent, according to 75% of CFOs
Technology will continue to play a hugely important role in the development of well-functioning, effectivefinance departments. CFOs predict that the areas that will attract the most investment, and that willtherefore create the most new job opportunities, will be fraud detection and risk management (47%), dataanalytics (40%), and compliance and regulation (39%).
Interestingly, employers are focusing on nationals and existing expat employees rather than new expatworkers from overseas, where possible. Over the last five years, two in five (39%) finance leaders havefound it more challenging to recruit international skilled talent. The majority (75%) of finance leaders areoffering career development opportunities as their main attraction strategy for international talent. In anattempt to increase efficiencies and facilitate growth, it is becoming more important to upskill and developthe current workforce than offer all-inclusive relocation packages to new foreign finance professionals.
Skilled candidates are most difficult to find in...
27%
Financialmanagement/control
24%
Business/financialanalysis
28%
Accounting
23%
Audit
19%
Compliance
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Positions in demand
• Chief financial officers
• Regional financial directors
• Financial controllers
• Management/financial accountants
Source: Robert Half survey of 75 UAE CFOs. Multiple responses permit ted.
Greatest pressures facing the accounting and finance function
32% Retaining finance employees
39% Managing workloads
40% Delivering efficiencies and growth
21% Audit, risk and compliance initiatives
27% Recruiting skilled talent
Skills and qualications in demand
• ACA, ACCA and CIMA qualified
• Experienced with accountingstandards US GAAP, IFRS and SOX
• Accounting software experience(Oracle and SAP)
• Multinational corporationexperience combined with 3–5 years’industry-specific experience
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Remuneration trends As CFOs focus on retaining their top performers, they are being increasingly selective about who shouldbe awarded pay rises and bonuses, choosing to reward individuals on the basis of the contribution andvalue that they deliver to the organisation.
Overall, there is a trend for remuneration to rise. In the next 12 months, CFOs expect salaries for theirexisting permanent accounting and finance employees to increase by 6.6%*.
* This gure is based on CFOs’ own predicted pay rises for existing accounting and nance employees and is not an average from the Robert Half UAE 2016 Salary Guide.
Source: Robert Half survey of 75 UAE CFOs.
CFOs’ remuneration plans today compared with three years ago…
68% Increase bonuses
68% Increase benefits
84% Increase salaries
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Job title Company size 2015 (USD) 2016 (USD) % change
Chief Financial Ofcer SME $220,000 - $490,000 $228,500 - $ 509,000 3.9%
Large company $ 240,000 - $600,000 $ 247,500 - $ 618,500 3.1%
Finance Director SME $ 180,000 - $ 330,000 $ 182,000 - $ 333,750 1.1%
Large company $ 210,000 - $ 360,000 $ 214,500 - $ 367,500 2.1%
Financial Controller SME $ 110,000 - $ 210,000 $ 112,250 - $ 214,500 2.1%
Large company $ 110,000 - $ 220,000 $ 115,250 - $ 230,250 4.7%
Assistant Financial Controller SME $ 85,000 - $ 130,000 $ 86,500 - $ 132,500 1.9%
Large company $ 100,000 - $ 135,000 $ 102,750 - $ 138,750 2.8%
Chief Accountant SME $ 95,000 - $ 145,000 $ 98,000 - $ 149,750 3.2%
Large company $ 100,000 - $ 160,500 $ 101,750 - $ 163,500 1.8%
Treasurer SME $ 120,000 - $ 170,250 $ 122,000 - $ 173,000 1.6%
Large company $ 133,000 - $ 249,000 $ 137,000 - $ 256,500 3.0%
Assistant Treasurer SME $ 105,000 - $ 130,000 $ 106,250 - $ 131,500 1.2%
Large company $ 109,000 - $ 135,000 $ 112,000 - $ 138,750 2.8%
Finance Manager SME $ 100,000 - $ 163,000 $ 100,000 - $ 164,500 0.6%
Large company $ 118,500 - $ 191,250 $ 118,750 - $ 191,750 0.2%
Senior Finance Associate SME $ 77,500 - $ 98,000 $ 78,000 - $ 98,750 0.7%
Large company $ 80,000 - $ 110,000 $ 80,750 - $ 111,000 0.9%
Tax Director SME $ 109,750 - $ 169,500 $ 111,250 - $ 171,750 1.3%
Large company $ 125,000 - $ 191,750 $ 129,500 - $ 198,750 3.0%
Tax Manager SME $ 80,000 - $ 114,500 $ 81,000 - $ 115,750 3.6%Large company $ 82,000 - $ 131,000 $ 83,000 - $ 132,750 1.3%
Senior Tax Associate SME $ 54,000 - $ 72,000 $ 55,500 - $ 74,000 2.8%
Large company $ 56,500 - $ 94,000 $ 58,000 - $ 96,500 2.7%
Senior Financial Analyst SME $ 74,750 - $ 103,000 $ 75,500 - $ 104,250 1.1%
Large company $ 78,500 - $ 110,000 $ 81,500 - $ 114,250 3.8%
Financial Analyst SME $ 64,250 - $ 92,000 $ 64,750 - $ 92,500 0.6%
Large company $ 67,000 - $ 97,750 $ 69,250 - $ 101,000 3.3%
Compliance Director SME $ 103,500 - $ 131,500 $ 109,250 - $ 138,750 5.5%
Large company $ 127,500 - $ 179,750 $ 134,500 - $ 189,500 5.5%
Compliance Manager SME $ 81,500 - $ 115,000 $ 81,750 - $ 115,250 0.3%
Large company $ 81,500 - $ 140,000 $ 84,000 - $ 144,500 3.2%
Compliance Ofcer SME $ 61,000 - $ 81,750 $ 61,500 - $ 82,250 0.7%Large company $ 71,500 - $ 85,250 $ 74,000 - $ 88,250 3.5%
Audit Manager SME $ 130,000 - $ 205,500 $ 134,250 - $ 212,250 3.3%
Large company $ 132,250 - $ 237,500 $ 141,000 - $ 253,250 6.6%
Senior Internal Auditor SME $ 80,000 - $ 128,000 $ 81,750 - $ 130,750 2.2%
Large company $ 84,500 - $ 141,000 $ 88,250 - $ 147,000 4.3%
Internal Auditor SME $ 55,000 - $ 72,500 $ 56,500 - $ 74,500 2.7%
Large company $ 60,000 - $ 75,000 $ 65,250 - $ 81,750 8.9%
Management Accountant(5+ years‘ experience)
SME $ 80,000 - $ 121,000 $ 81,500 - $ 123,250 1.9%
Large company $ 83,500 - $ 127,250 $ 85,750 - $ 130,750 2.7%
ACCOUNTING AND FINANCE SALARIES
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ACCOUNTING AND FINANCE SALARIES
Management Accountant(1–4 years‘ experience)
SME $ 70,250 - $ 103,000 $ 70,500 - $ 103,250 0.3%
Large company $ 70,000 - $ 109,000 $ 70,750 - $ 110,000 1.0%
Payroll Manager SME $ 73,000 - $ 100,000 $ 73,250 - $ 100,500 0.4%
Large company $ 83,500 - $ 111,000 $ 86,000 - $ 114,250 3.0%
Payroll Supervisor SME $ 70,000 - $ 96,250 $ 70,250 - $ 96,500 0.3%
Large company $ 77,000 - $ 105,000 $ 77,500 - $ 105,500 0.5%
Credit Manager SME $ 80,000 - $ 107,750 $ 80,250 - $ 108,250 0.4%
Large company $ 84,500 - $ 111,750 $ 86,500 - $ 114,250 2.3%
Assistant Credit Manager SME $ 73,250 - $ 78,000 $ 73,500 - $ 78,500 0.5%
Large company $ 71,000 - $ 83,250 $ 71,250 - $ 83,750 0.5%
Credit Controller SME $ 50,000 - $ 66,000 $ 50,500 - $ 66,500 0.9%
Large company $ 58,750 - $ 74,750 $ 59,500 - $ 75,750 1.3%
Assistant Credit Controller SME $ 35,000 - $ 50,250 $ 35,250 - $ 50,750 0.9%
Large company $ 41,000 - $ 59,250 $ 41,750 - $ 60,500 2.0%
General Ledger Accountant(5+ years‘ experience)
SME $ 86,500 - $ 118,750 $ 88,000 - $ 121,000 1.8%
Large company $ 82,500 - $ 121,000 $ 86,750 - $ 127,500 5.3%
General Ledger Accountant(1–4 years‘ experience)
SME $ 67,500 - $ 97,500 $ 68,000 - $ 98,000 0.6%
Large company $ 68,000 - $ 102,000 $ 69,750 - $104,500 2.5%
Accounts Receivable/Payable Manager
SME $ 72,000 - $ 115,000 $ 73,500 - $ 117,500 2.1%
Large company $ 77,500 - $ 120,000 $ 79,000 - $ 122,500 2.0%
Accounts Receivable/Payable Accountant SME $ 47,250 - $ 72,500 $ 47,500 - $ 72,750 0.4%Large company $ 48,000 - $ 75,000 $ 49,500 - $ 77,250 3.0%
Assistant Accountant SME $ 36,750 - $ 64,500 $ 37,250 - $ 65,250 1.2%
Large company $ 42,500 - $ 69,500 $ 44,000 - $ 72,000 3.6%
Job title Company size 2015 (USD) 2016 (USD) % change
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FINANCIAL SERVICES HIRING
The growing skills shortage has renewed retention concerns
The hiring climate
The risk and compliance agenda continues to dominate the UAE financial services industry, driven byincreasing regulatory demands and growth in financial crime, fraud and cyber security. Risk managementis now part of day-to-day business operations for financial services companies, and there is acommensurate demand for skilled professionals with experience in anti-money laundering, anti-briberyand corruption, regulatory investigations and compliance.
Within capital markets, there is an appetite for growth within both corporate and institutional markets asthe adoption and use of derivative products continue to grow. Banks are looking to grow corporate FX
sales teams, while brokerages are building their institutional coverage. As a result, demand for candidateswith a regional client network is evident. Another notable area of growth is the entrance of new, smallerbusinesses into the financial services sector, particularly within insurance.
The continuing recovery of the financial services sector in other centres, notably London, New York andSingapore, means it is increasingly difficult for UAE-based companies to recruit or retain talent fromthe expatriate community. The growing skills shortages are creating renewed concerns about losing topperformers to UAE-competitive or home-country opportunities.
Financial services company leaders are increasing spend on initiatives to enable growth, although thiswill continue to be balanced against must-have corporate governance programmes that achieveregulatory compliance.
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As well as hiring new professionals, financial services companies recognise that they need to continue toinvest in developing existing teams.
Remuneration trends
Although compliance is a strong driver of hiring additional resources, companies remain conscious ofbudgets. The cost of regulatory compliance and financial investigations is adding to the burden of thefinancial crisis and leading to generally marginal salary rises.
Candidates with a proven track record in the region and a strong personal network are best placed tonegotiate competitive offers as they can prove added value from the start.
Positions in demand
• Regulatory compliance professionals
• Financial crime professionals(specifically fraud investigations, anti-bribery and corruption, andanti-money laundering)
• Brokers/product managers/derivatives sales professionals
• Fac/assistant underwriters
• Corporate/private/wealth credit managers
Skills and qualications in demand
• Multinational corporation experience
• Financial regulation experience (FSA,MAS, PRA, FINRA, Islamic Finance)
• Experts in complex risk modelling andtrading algorithms
• ACII qualified
• Accounting software experience(Oracle, Hyperion, SAP)
• Western university degrees,fluent in Arabic
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Job title 2015 (USD) 2016 (USD) % change
RISK
Chief Risk Ofcer $ 263,500 - $ 535,250 $ 269,750 - $ 545,750 2.1%
Head of Risk Management $ 167,250 - $ 265,500 $ 168,000 - $ 269,000 1.0%
Head of Credit Risk $ 172,250 - $ 329,750 $ 173,250 - $ 333,750 1.0%
Credit Risk Manager $ 94,250 - $ 164,500 $ 96,750 - $ 164,750 1.1%
Senior Credit Risk Analyst $ 81,250 - $ 100,250 $ 81,500 - $ 101,750 1.0%
Credit Risk Analyst $ 57,000 - $ 83,250 $ 57,250 - $ 84,500 1.1%
Market Risk Manager $ 109,500 - $ 164,000 $ 111,750 - $ 166,500 1.7%
Senior Market Risk Analyst $ 75,250 - $ 109,250 $ 75,500 - $ 109,750 0.4%Market Risk Analyst $ 43,750 - $ 77,750 $ 44,500 - $ 78,750 1.4%
Operational Risk Manager $ 99,750 - $ 138,500 $ 100,750 - $ 142,500 2.1%
Operational Risk Analyst $ 61,500 - $ 103,250 $ 62,500 - $ 104,250 1.2%
Credit Analysis Manager $ 94,750 - $ 130,500 $ 95,000 - $ 133,250 1.3%
Senior Credit Analyst $ 57,500 - $ 94,000 $ 58,500 - $ 95,500 1.7%
Credit Analyst $ 39,500 - $ 54,750 $ 39,500 - $ 55,250 0.5%
FRONT OFFICE, MERGERS AND ACQUISITIONS
Managing Director $ 273,750 - $ 405,000 $ 274,500 - $ 412,250 1.2%
Director $ 247,500 - $ 320,500 $ 250,250 - $ 326,000 1.5%
Vice President $ 170,250 - $ 235,750 $ 172,250 - $ 237,250 0.9%
Associate $ 117,000 - $ 182,250 $ 118,000 - $ 184,250 1.0%
Senior Analyst $ 97,750 - $ 122,500 $ 98,750 - $ 124,250 1.2%
Analyst $ 71,750 - $ 104,000 $ 72,250 - $ 106,000 1.4%
COMPLIANCE
Head of Compliance $ 146,250 - $ 326,000 $ 148,750 - $ 328,750 1.1%
Compliance Manager $ 94,000 - $ 147,250 $ 98,750 - $ 154,500 5.0%
Compliance Ofcer $ 57,750 - $ 89,250 $ 58,750 - $ 91,000 1.9%
Anti-Money Laundering Specialist $ 65,750 - $ 115,000 $ 68,500 - $ 120,000 4.2%
Fraud Investigator $ 64,250 - $ 85,250 $ 66,250 - $ 88,250 3.2%
Regulatory Specialist $ 62,750 - $ 89,000 $ 64,250 - $ 91,500 2.3%
WHOLESALE BANKING
Head of Wholesale Banking (GM*) $490,000 - $ 559,000 $490,500 - $565,500 0.7%
Head of Corporate Banking (GM*) $325,000 - $ 520,250 $ 326,750 - $ 525,500 0.8%
Senior Corporate (RM*) $ 109,000 - $ 164,750 $ 110,250 - $ 164,750 0.5%
Corporate (RM*) $ 50,250 - $ 115,500 $ 50,500 - $ 115,750 0.3%
Head of Transaction Banking (MD*) $ 213,750 - $ 463,250 $ 214,250 - $ 471,250 1.3%
Head of Trade Sales (ED*) $ 220,500 - $ 295,250 $ 223,500 - $ 297,750 1.1%
Trade Sales Director $ 147,000 - $ 215,000 $ 149,500 - $ 216,750 1.2%
Trade Sales Manager $ 81,000 - $ 145,000 $ 81,500 - $ 145,750 0.6%
FINANCIAL SERVICES SALARIES
* GM = General Manager MD = Managing Director ED = Executive Director RM = Regional Manager
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FINANCIAL SERVICES SALARIES
WHOLESALE BANKING (CONTINUED)
Head of Cash Management (ED*) $220,000 - $ 295,750 $ 222,500 - $ 297,250 0.8%
Cash Management Director $ 147,000 - $ 215,000 $ 148,750 - $ 215,500 0.6%
Cash Management Manager $ 81,250 - $ 145,500 $ 82,500 - $ 146,750 1.1%
Head of Product Management (ED*) $ 245,000 - $ 260,000 $ 246,250 - $ 264,750 1.2%
Trade Product Manager $ 150,000 - $ 212,000 $ 150,750 - $ 214,750 1.0%
Cash Product Manager $ 149,750 - $ 211,500 $ 149,750 - $ 214,500 0.8%
Head of Client Ser vices (ED*) $ 225,750 - $260,000 $ 225,750 - $ 262,750 0.6%
Client Services Director $ 125,500 - $ 150,000 $ 125,750 - $ 150,750 0.4%Client Services Manager $ 80,000 - $ 125,250 $ 80,500 - $ 125,750 0.5%
FINANCE AND ACCOUNTING**
Product Control $ 106,000 - $ 191,250 $ 106,500 - $ 191,750 0.3%
Fund Accountant $ 105,250 - $ 194,500 $ 106,250 - $ 196,500 1.0%
INSURANCE
Head of Business Development $ 162,000 - $ 226,750 $ 162,750 - $ 231,750 1.5%
Head of Line $ 145,750 - $ 259,250 $ 146,750 - $ 259,750 0.4%
Reinsurance Broker $ 81,000 - $ 145,750 $ 81,500 - $ 146,750 0.7%
Senior Underwriter $ 81,250 - $ 160,000 $ 81,750 - $ 162,500 1.2% Assistant Underwriter $ 58,250 - $ 81,500 $ 59,750 - $ 83,750 2.7%
Business Development Manager $ 64,750 - $ 113,500 $ 65,750 - $ 116,500 2.2%
Account Manager $ 58,250 - $ 81,000 $ 58,750 - $ 83,500 2.2%
PRIVATE EQUITY AND ASSET MANAGEMENT
Vice President/Director $ 223,750 - $ 274,500 $ 228,250 - $ 285,250 3.1%
Assistant Vice President $ 126,250 - $ 167,500 $ 132,750 - $ 173,250 4.2%
Associate $ 98,750 - $ 112,000 $ 101,250 - $ 114,500 2.4%
Senior Analyst $ 60,750 - $ 72,250 $ 61,500 - $ 73,750 1.7%
Analyst $ 49,750 - $ 62,750 $ 52,000 - $ 65,000 4.0%
* ED = Executive Director ** For additional accounting and finance roles, please see pages 12 and 13.
Job title 2015 (USD) 2016 (USD) % change
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TECHNOLOGY HIRING
User experience is a strong focus for IT professionals when
implementing new initiatives
The hiring climate
The MEA region is leading the world in the speed at which it is adopting new technologies such as mobileand cloud. According to the Cisco Cloud Index 2013–20181, the MEA region is set to post the world’shighest cloud traffic growth rate, increasing more than eightfold. MEA will also post the world’s secondhighest cloud data centre workload growth at 39%, second only to the Asia-Pacific region.
The UAE itself is one of the region’s fastest growing adopters of enterprise resource planning (ERP)software platforms. Companies are implementing ERP software in line with modernisation initiativesand the need to boost transparency and international competitiveness, and this is driving demand forprofessionals with Oracle and SAP experience in particular.
As with technology teams across the world, IT professionals are now being called on to lead technologyinitiatives that have a stronger focus on user experience. As well as understanding how all the underlyingtechnology works, IT professionals need to be able to work closely and communicate with the business,advising on and staying ahead of developments, big data, cloud, mobile and cyber security. IT skills andqualifications in demand reflect these plans for expansion, and professionals with mobile, cloud andinfrastructure skills are becoming increasingly scarce, while IT security experts who can help protect theirorganisations from attack are also highly valued.
1 www.cnmeonline.com/insight/2015-whats-in-store-for-uae-it/
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Remuneration trends
In line with previous years, technology salaries remain relatively stable. Differentials in salaries tend to beindustry rather than role focused, with the aviation sector offering the highest salaries due to strong demand. Additional burgeoning industries such as financial services and construction need to act decisively to securetheir chosen candidates as well as offer a competitive remuneration and benefits package.
Positions in demand
• Project managers
• IT managers
• Business analysts
• ERP experts
Skills and qualications in demand
• ERP experience, including SAPand Oracle
• Candidates with 10–15 years’experience and local market exposure
• Commercial and business acumen
• Degree educated with relevantqualifications (PMP, ITIL, LEAN,CCIE, CCNP)
• CISSP for security professionals
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TECHNOLOGY SALARIES
Job title 2015 (USD) 2016 (USD) % change
LEADERSHIP
Chief Information Ofcer (CIO) $ 314,000 - $ 439,000 $ 319,750 - $ 447,500 1.9%
Chief Technology Ofcer (CTO) $ 284,250 - $ 375,500 $ 284,250 - $ 376,500 0.2%
Chief Security Ofcer (CSO) $ 152,500 - $ 243,500 $ 152,500 - $ 245,500 0.5%
Chief Architect $ 152,250 - $ 228,250 $ 152,750 - $ 229,250 0.4%
Director Information Technology $ 178,000 - $ 295,000 $ 178,500 - $298,000 0.7%
Information Technology Manager (10+ years‘ experience) $ 101,500 - $ 172,250 $ 102,500 - $ 172,250 0.4%
Information Technology Manager (1–9 years‘ experience) $ 68,000 - $ 127,500 $ 68,750 - $ 127,750 0.5%
IT SECURITY
Security Engineer $ 102,000 - $ 173,000 $ 103,750 - $ 174,750 1.3%
Security Analyst $ 80,750 - $ 113,500 $ 81,500 - $ 114,500 0.9%
Security Administrator $ 65,750 - $ 82,500 $ 66,250 - $ 83,500 1.0%
APPLICATIONS
Development Manager $ 162,000 - $ 203,000 $ 162,750 - $ 205,500 0.9%
Product Manager $ 121,750 - $ 183,000 $ 121,750 - $ 185,500 0.8%
Applications Developer $ 76,250 - $ 122,000 $ 76,500 - $ 122,500 0.4%
BUSINESS ANALYSIS AND PROJECT MANAGEMENT
Business Systems Manager $ 150,000 - $ 210,000 $ 150,500 - $ 212,750 0.9%
Senior Business Systems Analyst $ 91,750 - $ 142,750 $ 93,750 - $ 145,750 2.1%
Business Systems Analyst $ 61,000 - $ 123,250 $ 61,500 - $ 124,250 0.8%
Business Intelligence Manager $ 137,000 - $ 222,500 $ 139,250 - $ 224,500 1.2%
Senior Business Intelligence Specialist $ 122,500 - $ 172,500 $ 123,500 - $ 175,500 1.4%
Business Intelligence Specialist $ 86,250 - $ 123,750 $ 88,250 - $ 124,750 1.4%
Project Management Ofcer (PMO) Head $ 172,000 - $ 253,750 $ 172,750 - $ 256,750 0.9%
Project Management Ofcer (PMO) Analyst $ 121,750 - $ 182,750 $ 122,250 - $ 184,750 0.8%
Senior Project/Programme Manager $ 130,000 - $ 195,000 $ 130,500 - $ 195,750 0.4%Project/Programme Manager $ 102,500 - $ 180,250 $ 103,750 - $ 180,750 0.6%
SYSTEMS ADMINISTRATION
Senior Systems Analyst $ 81,000 - $ 126,750 $ 81,500 - $ 128,750 1.2%
Systems Analyst $ 60,750 - $ 86,750 $ 60,750 - $ 88,750 1.4%
Systems Administrator $ 35,500 - $ 71,250 $ 35,750 - $ 71,750 0.7%
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ARCHITECTURE
Enterprise Architect (16+ years‘ experience) $ 182,750 - $ 254,250 $ 184,750 - $ 261,250 2.1%
Enterprise Architect (10–15 years‘ experience) $ 127,250 - $ 182,750 $ 129,250 - $ 185,750 1.6%
Enterprise Architect (6–9 years‘ experience) $ 91,750 - $ 126,750 $ 93,750 - $ 128,750 1.8%
Solutions Architect (16+ years‘ experience) $ 182,500 - $ 243,500 $ 186,250 - $ 245,750 1.4%
Solutions Architect (10–15 years‘ experience) $ 127,000 - $ 182,750 $ 128,500 - $ 184,750 1.1%
Solutions Architect (6–9 years‘ experience) $ 91,500 - $ 127,500 $ 92,750 - $ 128,500 1.0%
NETWORKING
Network Architect $ 120,500 - $ 223,500 $ 126,500 - $ 226,500 2.6%
Network Manager $ 101,500 - $ 152,250 $ 105,500 - $ 152,250 1.6%
Network Engineer $ 67,250 - $ 101,500 $ 69,250 - $ 102,750 1.9%
Network Administrator $ 60,750 - $ 91,750 $ 61,750 - $ 92,750 1.3%
DATA/DATABASE ADMINISTRATION
Database Developer $ 101,500 - $ 182,750 $ 102,500 - $ 184,750 1.1%
Database Administrator $ 61,250 - $ 101,500 $ 61,750 - $ 102,500 0.9%
TECHNICAL SERVICES
Senior Technical Support Specialist $ 61,250 - $ 92,500 $ 61,750 $ 92,750 0.5%
Technical Support Specialist $ 61,250 - $ 81,750 $ 61,750 - $ 83,750 1.7%
Job title 2015 (USD) 2016 (USD) % change
TECHNOLOGY SALARIES
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HUMAN RESOURCES AND ADMINISTRATION HIRING
of HR leaders say that a lack of niche,
technical experts is holding back their
recruitment efforts
The hiring climate
The continued business evolution in the UAE and MEA regions is fuelling demand for talented HR professionalswho can help develop and upskill existing employees to make sure they are as productive as possible and arealigned with commercial objectives.
There remains a trend for companies to maximise the cost-effectiveness of their HR operations bycentralising or decentralising processes and outsourcing them to third-party providers operating offshorein India or Eastern Europe. However, companies in the UAE increasingly require specialist HR skills thatcan help them align with their European counterparts, and they are particularly interested in findingcandidates with multinational corporate experience.
Industries showing the strongest demand for talented human resources professionals include FMCG,pharmaceutical, construction, retail, hospitality and boutique investment firms. Companies in these sectorsare the most likely to develop their teams in anticipation of imminent revenue growth, so require HRsupport to both fill their vacant positions and ensure compliance.
48%
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This need for technical skills and knowledge is creating challenges for heads of HR in the region. Almost half (48%) of senior HR leaders say that a lack of niche, technical experts is holding back theirrecruitment efforts, while a further 30% say that general demand for talented professionals is causingconcerns. Lack of commercial and business skills among potential candidates is a problem for 15%,while a small minority (7%) say that the general slowdown in hiring during the recession has resulted ina lack of candidates with the right skills.
There is particular pressure on the supply of HR professionals with specialist skills in learning anddevelopment, remuneration and benefits, and organisational culture. Those with longer term tenure inprevious roles and 15-plus years’ experience are in highest demand.
Spotlight on administrative hiring
Increasing the number of support staff on the team tends to go hand in hand with anticipatedgrowth as organisations seek to free up sales and business development professionals to buildthe pipeline and focus on customer engagement.
This explains the increase in organisations that predict they will add new administrativesupport employees in the year ahead. While 28% of HR directors said they would recruit extraheadcount, however, more than half (55%) said they would only fill vacant positions, indicatingthat there is still some way to go before the majority of UAE businesses feel confident enough to
build admin teams beyond their current size.
As ever, specialist technical skills, communication skills and flexibility are all in demand fromskilled administrative professionals. This is being fuelled by a growing emphasis on excellentcustomer service and the adoption of social media channels by organisations across allvertical sectors as well as the ongoing reliance on technology-based business processes.
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Positions in demand
• Recruitment specialists
• Payroll managers
• HR officers
• Senior HR directors
• Senior learning anddevelopment managers
Skills and qualications in demand
• Change management and peoplemanagement skills
• Multinational corporation experiencewith a strong knowledge of UAEemployment laws
• HR system knowledge, including SAPand Oracle as well as performancemanagement applications
• CIPD/SHRM qualified, preferably witha degree in HR or psychology
Remuneration trends
Almost three-quarters (72%) of HR leaders are concerned about losing top performers to other jobopportunities in the next year and will take proactive steps to retain their best employees. These initiativesare likely to include higher remuneration – 40% of HR leaders say that they will increase salaries in theyear ahead, while 29% will pay out higher bonuses. On average, HR leaders expect to award salaryincreases of 6.2%*.
of HR leaders are concerned about losingtop performers in the next 12 months72%
* This gure is based on HR leaders’ own predicted pay rises for existing employees and is not an average from the Robert Half UAE 2016 Salary Guide.
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HUMAN RESOURCES AND ADMINISTRATION SALARIES
* Please note: salaries vary based on sector and coverage, with banking, financial services, government, establi shed family businesses and global rolespaying slightly higher than market rate.
Job title 2015 (USD) 2016 (USD) % change
HUMAN RESOURCES
HR Director $ 164,500 - $ 255,000 $ 171,000 - $ 265,250 4.0%
Head of HR $ 143,000 - $ 168,500 $ 147,000 - $ 171,000 2.1%
Regional HR Manager $ 112,000 - $ 193,000 $ 114,250 - $ 196,750 2.0%
HR Manager/HR Business Par tner $ 80,750 - $ 144,250 $ 82,500 - $ 147,250 2.1%
HR Generalist $ 58,500 - $ 81,250 $ 59,750 - $ 83,250 2.3%
HR Analyst $ 64,250 - $ 97,500 $ 65,500 - $ 98,250 1.2%
HR Ofcer $ 49,000 - $ 65,500 $ 49,750 - $ 66,000 1.1%
RECRUITMENT
Head of Recruitment $ 115,250 - $ 170,500 $ 115,500 - $ 172,500 0.8%
Recruitment Manager $ 81,000 - $ 129,750 $ 81,750 - $ 131,000 0.9%
Recruitment Specialist $ 48,500 - $ 81,000 $ 48,750 - $ 81,750 0.8%
LEARNING AND DEVELOPMENT
Head of Learning and Development $ 114,000 - $ 170,000 $ 119,700 - $ 178,500 5.0%
Talent/Organisational Development Manager $ 112,000 - $ 170,500 $ 115,000 - $ 170,500 1.1%
Learning and Development Manager $ 78,250 - $ 99,500 $ 80,500 - $ 110,750 7.6%
COMPENSATION AND BENEFITS
Head of Compensation and Benets $ 110,750 - $ 189,500 $ 112,500 - $ 192,750 1.7%
Compensation and Benets Manager $ 80,250 - $ 116,250 $ 81,750 - $ 117,500 1.4%
ADMINISTRATION
Operations/Payroll Manager $ 80,250 - $ 129,750 $ 81,750 - $ 132,500 2.0%
Executive Assistant $ 64,500 - $ 91,250 $ 67,000 - $ 94,750 3.9%
Personal Assistant $ 48,500 - $ 71,250 $ 50,500 - $ 74,000 4.0%
Ofce Manager $ 71,750 - $ 113,000 $ 73,250 - $ 115,250 2.0%
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LEGAL HIRING
Corporates are strengthening their internal teams to reduce
reliance on external counsel
The hiring climate
Growth in the region’s construction sector, the successful bid for Expo 2020 and increased investment inthe property market as an asset class will have a positive impact on the legal sector. Demand for legalprofessionals with experience of the construction market will be in particular demand as big projectsget under way.
Increased M&A activity predicted for the region will create additional demand for legal professionals whocan demonstrate skills and experience in this area of business.
There is an additional trend for corporates to seek cost efficiencies by strengthening their internallegal departments to reduce their reliance on external counsel. Lawyers with litigation and complianceexperience are being sought by companies that are hiring internal legal professionals.
As organisations in the region seek to align their internal controls and corporate governance with Westerncounterparts, they are increasingly seeking legal professionals with experience of working in developingcountries and with a Western university degree. Bilingual paralegals and document reviewers are inparticular demand as legal teams look for assistance with reviewing contracts and documents in both Arabic and English.
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Growing demand for bilingual paralegals who can assist withreviewing contracts and documents in Arabic and English
Positions in demand
• Mid-level (5–10 years’ PQE) lawyers
• Real estate lawyers
• Corporate/commercial lawyers
• Contract specialists
• Paralegals
Remuneration trends
In common with all professional hiring in the region, legal recruitment is following two broad trends. Whilecorporates are broadly conservative about growing their teams too quickly as they prepare for growth, theyare willing to make higher offers to legal professionals with exactly the right blend of skills and experience.
This demand for highly skilled lawyers is rising, and companies need to be able to offer increasedstarting salaries to at tract suitable candidates. Bonuses are being awarded on the basis of personal andcompany performance.
Skills and qualications in demand
• Western qualified
• International commercial experience
• Regional exposure, Arabic speaking
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LEGAL SALARIES
Job title 2015 (USD) 2016 (USD) % change
IN-HOUSE
Chief Legal Ofcer/Head of Legal/General Counsel $ 268,500 - $ 406,000 $ 269,750 - $ 416,750 1.8%
Regional Legal Counsel $ 202,500 - $ 252,750 $ 213,750 - $ 253,500 2.6%
Legal Manager $ 152,500 - $ 202,250 $ 153,750 - $ 206,750 1.6%
Legal Counsel (6–9 years‘ experience) $ 168,500 - $ 219,750 $ 169,750 - $ 224,500 1.5%
Legal Counsel (3–5 years‘ experience) $ 93,750 - $ 162,500 $ 94,750 - $ 164,750 1.3%
Legal Counsel (0–2 years‘ experience) $ 60,250 - $ 94,500 $ 60,750 - $ 96,500 1.6%
Paralegal (6–9 years‘ experience) $ 95,750 - $ 131,500 $ 96,250 - $ 136,250 2.3%
Paralegal (3–5 years‘ experience) $ 68,250 - $ 104,750 $ 69,750 - $ 107,500 2.5%Paralegal (0–2 years‘ experience) $ 34,250 - $ 68,750 $ 34,500 - $ 69,500 1.0%
Legal Secretary $ 68,250 - $ 106,250 $ 69,250 - $ 107,250 1.1%
Legal Assistant $ 34,000 - $ 69,250 $ 34,000 - $ 70,250 1.0%
PRIVATE PRACTICE
Senior Partner $ 275,500 - $ 387,750 $ 275,250 - $ 395,500 1.1%
Partner $ 207,250 - $ 292,750 $208,500 - $ 295,500 0.8%
Senior Associate $ 155,000 - $ 212,000 $ 156,500 - $ 216,000 1.5%
Mid-level Associate $ 120,500 - $ 174,500 $ 121,750 - $ 176,750 1.2%
Junior Associate $ 69,250 - $ 121,500 $ 69,750 - $ 122,750 0.9%
Senior Paralegal $ 104,250 - $ 146,500 $ 107,750 - $ 146,750 1.0%
Mid-level Paralegal $ 87,000 - $ 105,750 $ 87,250 - $ 107,500 1.0%
Paralegal $ 52,000 - $ 89,750 $ 53,500 - $ 90,250 1.4%
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For most professionals, salary is only one part of the picture. When offered multiple roles, other factorscome into play, including potential bonuses and employee benefits. As the skills shortage intensifies,employers will need to revisit their overall remuneration strategies to make sure they are keeping up withindustry benchmarks.
ADDITIONAL REMUNERATION TRENDS
Source: Robert Half survey of 75 UAE CFOs.
Source: Robert Half survey of 75 UAE HR directors. Multiple responses permitted.
Reasons employees are being offered pay rises
27% Willingness to take on additional tasks
33% Professionalism
41% Time since last pay rise
43% Technical competency
31% Tenure
31% Willingness to learn/advance
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A job isn’t just a job. Successfully filling any position in your organisation requires more than justfinding someone who can fulfil the role. Besides technical skills, the ideal candidate will also have theinterpersonal qualities to fit well within a larger mosaic: your company culture.
But how can you tell someone is a good job match from just an interview? Well, you can’t. At least notentirely. But you can create opportunities for you and the candidate to compare insights on individual workstyles. Here are some ideas:
• Demonstrate what makes you different. Highlight the unique attributes of your culture on yourwebsite and in job postings. Also, make sure your hiring managers can readily ar ticulate why yourbusiness is a great place to work. Help them capture in words the essence of your company’satmosphere and people.
• Introduce the team. When you invite candidates in for interviews, give them an opportunity to talk toother employees. This can offer them additional perspectives into what it’s really like to work for yourcompany. Later, you can ask your team how well they feel the person would do in the job.
• Ask the right interview questions, such as:
• What makes them want to come to work every day? Does workplace competition motivate or discourage them? Do they enjoy building relationships withclients, or do they love behind-the-scenes problem-solving? Look for candidates whose passionmatches your culture.
• Why do they want to work for you? Your best prospects will go beyond your products and business stability and touch on aspects of yourculture. Do you get a sense your work environment would stimulate them?
• Can they describe their work style? Some professionals will say they’re most productive when they work independently; others workbetter when they’re part of a team. Some prefer brainstorming sessions over well-organised meetings.Do you think this person can find personal job satisfaction working for your company?
The most important aspect of company culture is authenticity. If you mimic the hallmarks of other firmsinstead of reflecting who you really are, it’s going to be tough to hire people who will work in sync withyour team. Make sure the culture demonstrated in your external communications activities is reflected inyour HR and recruitment strategy.
HIRING FOR THE RIGHT CULTURAL FIT
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Your recruitment expertRobert Half is the world’s leading specialised recruitment consultancy. Through our Robert Half Finance& Accounting, Robert Half Financial Services, Robert Half Technology, Robert Half Human Resources and Robert Half Legal divisions, we place the market’s most highly skilled professionals. We also offerglobal consulting and internal audit services through our Protiviti subsidiary, which helps companiessolve problems in finance, technology, operations, governance, risk and internal audit.
Benets we offer your business include:
Immediate attention. Time is money when you’re seeking reinforcements for your team.
Our recruitment consultants, who commonly possess specific industry experience, aretrained to find our clients top professionals who can start right away. But saving you timedoesn’t mean a rushed process. Our access to both active and passive candidates makessure you receive the talent best suited to your needs and culture.
Spreading the net. Our recruitment professionals don’t work in silos. By tapping into ourextensive internal and global networks, they collaborate with colleagues near and far to findthe best matches. These are all reasons you don’t have to look beyond Robert Half for yourrecruitment needs.
Turnkey results. Companies, especially those with limited resources, don’t want to spendtime on a lot of details when recruiting. We handle all aspects of the hiring process for you –from candidate sourcing and interviews to skills evaluations and reference checks.
Personalised solutions. Anyone can post a job online and get a lot of responses. It’s easyand it doesn’t cost much. But it takes a lot more than a computer to find candidates whoare closely suited to your needs. That comes only through working directly with recruitmentprofessionals. While we, too, take full advantage of the latest technology tools, it’s thepersonal service we provide our clients that we’re known for.
Contact Robert Half at roberthalf.ae or +974 4 382 6700 to learn more about how we can help you findthe right talent for your organisation.
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