rw middle east 2016 salary survey

MIDDLE EAST

Middle East 374

WHILST FALLING OIL PRICES AND CONTINUING CONFLICTS IN THE REGION RESTRICTED SOME COMPANIES’ OPPORTUNITIES FOR GROWTH DURING 2015, THE IMPROVING GLOBAL ECONOMIC OUTLOOK HAD A MILD BUT POSITIVE OVERALL EFFECT ON RECRUITMENT LEVELS.

2015 INSIGHTS

The significant decline in oil prices since the summer of 2014 greatly reduced hiring levels across the oil and gas sector, with a wider knock-on effect across this worldwide industry centre. The downturn affected multinationals and local businesses alike, and we saw a number of high-profile mergers and acquisitions take place. Many organisations laid off staff as they rescaled their operations.

In fuel-hungry sectors however, businesses such as airlines and logistics benefited greatly from the lower oil price and were able to invest in head office staff. We also saw high levels of hiring activity in the property, construction and engineering sectors during 2015, while retail and small to medium FMCG companies continued to recruit at steady levels.

2016 EXPECTATIONS

We’re cautiously optimistic about the 2016 jobs market. The need for new hires is set to be strong among employers across government, real estate, financial services and tourism. In addition, as always, the transient nature of the region’s recruitment needs means we anticipate regular requirements for replacement hires.

Whilst it has been well documented that government spending is being reigned in, the vast public building programmes underway in Dubai and other states will underpin demand for professionals in leadership, legal and finance positions in the region’s head offices during 2016.

On a macro level, as sanctions against Iran begin to ease further in 2016, many companies across the region are set to build headcount across all business areas to cope with this new, exciting market.

Government policies in the UAE and Saudi Arabia to prioritise Gulf nationals over expatriate professionals when being considered for new roles will be even more strictly observed in 2016. This is an important issue for employers. While the number of highly educated, well-qualified and experienced local professionals

has never been greater, they are often keen to work only in their home country and close to family, further restricting this market.

Companies wishing to appoint high-quality professionals in more remote locations might therefore consider offering benefits like free flights home at weekends. An additional related means of attracting and retaining the best talent will be to reintroduce more competitive rewards packages, including housing and education funding. These were largely stripped out following the financial crisis.

We expect salaries to remain largely flat in 2016. However, there will be exceptions such as construction professionals and private practice lawyers, digital experts, category managers (FM) and FP&A professionals.

MIDDLE EAST

OVERVIEW

375 Robert Walters Global Salary Survey 2016

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ACCOUNTING & FINANCE

The commercial success of companies across the region and their keenness to improve productivity drove continued growth in the hiring of accounting and finance talent in 2015. Employers were willing to pay up to 5% over the market rate to attract the right professionals.

A focus on streamlining process change also meant demand was high for accountants with technology skills. The most sought after were ACA, ACCA and CIMA-qualified professionals with 5-10 years’ post-qualification experience and knowledge of financial modelling.

In 2016, hiring managers will be particularly keen to attract commercial accountants with practical experience and understanding of IFRS accounting. A drive to improve competitiveness will also result in companies seeking top-tier talent to work in less appealing locations across the region.

BANKING & FINANCIAL SERVICES

Employment targeting which prioritised the hiring of local candidates over international talent was the biggest issue facing banks in the Middle East in 2015, and this will continue to dominate hiring in 2016.

In addition, the punitive action of global regulators has been another major factor, and this will ensure that in 2016 compliance will once again be the busiest area of recruitment.

Other than in the compliance area, we do not anticipate significant growth in the banking and financial services jobs market during 2016. As long as the oil price remains low, organisations will be cautious, with hiring managers tending only to replace employees who are leaving rather than grow headcount.

LEGAL

In 2015, an increase in M&A activity saw firms actively trying to grow their corporate practices, with a particular focus on candidates from established markets such as the UK and Australia. Construction and projects remained busy practice areas as development projects continued throughout the Middle East.

Other practice areas such as banking and finance saw a relatively slow year as lending from the banks remained cautious and we expect this to affect front-end construction roles next year as lending for new projects weakens. However, we should conversely see an increase in contentious construction as companies enter into dispute resolution.

In addition to construction disputes, we saw a sharp increase in activity in the area of compliance and fraud investigations which caused firms to recruit candidates with experience in matters related to the UK Bribery Act and Anti-Money-Laundering.

On the whole the in-house recruitment market was quieter in 2015, primarily due to companies wanting to stabilise team sizes and utilise law firms much more for external advice. As law firms seek to improve relationships with companies, in-house secondments have remained a vital part of strategically hiring and supplementing in-house legal teams with these secondments often turning into permanent employment.

In-house hiring that did take place remained focused on local experience, candidates with Arabic skills and backgrounds in corporate and commercial law were in high demand.

At present, there is uncertainty with regard to the economic state of the Middle East markets with most firms looking to take a more cautious approach, particularly in the first half of 2016. However, we do expect hiring and growth to continue in key practice areas, but at a steadier pace compared to 2015.

PROCUREMENT & SUPPLY CHAIN

There was a slight increase in the hiring of procurement and supply chain professionals in 2015. This was unsurprising, as one of the major trends that emerged during the year saw large companies driving efficiency improvements by centralising their procurement functions.

In another significant trend, the implementation of ERP (enterprise resource planning) platforms within businesses raised demand for experienced professionals who have gained best practice experience working abroad.

In 2016, we expect that increasing purchasing activity will cause most procurement hiring to be in digital, IT, marketing and facilities departments in the real estate, telecoms and government sectors. The continuing positive performance of the FMCG and retail sectors will ensure that supply chain hiring is strongest in these areas.

SALES & MARKETING

The falling oil price and knock-on effects on government budgets in 2015 restricted hiring for sales and marketing professionals in the oil and construction markets.

In contrast, we saw significant growth in demand for talent in the tourism, banking and manufacturing sectors. The most sought-after professionals were those with technical and digital expertise, as well as individuals with strong Middle East experience and Arabic language skills.

As digital communications and social media continued to increase in importance, hiring managers will seek sales and marketing specialists with strong technical skills in these areas. Tourism will be another key focus, particularly as the UAE continues its drive to become one of the world’s leading tourist destinations.

As sanctions against Iran begin to ease further in 2016, companies will add headcount to take advantage of this new, exciting market.

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Middle East 376

MIDDLE EAST ACCOUNTING & FINANCE

Robert Walters Global Salary Survey 2016 6

ROLE PERMANENT SALARY PER MONTH (AED)

2015 2016

Senior-level Roles

Chief Financial Officer (Regional) 70 - 130k+ 72 - 130k+

Chief Financial Officer (Local) 60 - 80k 63 - 84k

Finance Director 45 - 60k 50 - 63k

Head of Treasury 50 - 75k 52 - 78k

Head of Internal Audit 50 - 70k 55 - 73k

Tax Director 50 - 75k 52 - 80k

Head of Compliance 50 - 70k 55 - 85k

Qualified

Financial Controller 37 - 50k 40 - 55k

Finance Manager 30 - 45k 32 - 48k

Finance/Internal Audit Manager 28 - 38k 35 - 45k

Financial Accountant (3 - 6 yrs' exp) 22 - 37k 25 - 35k


Internal Auditor (3 - 6 yrs' exp) 22 - 37k 23 - 38k


FP&A/Business Analyst (3 - 6 yrs' exp) 22 - 38k 28 - 40k

FP&A/Business Analyst (0 - 3 yrs' exp) 15 - 25k 15 - 25k

PQ Financial & Management Accountant 12 - 20k 15 - 25k

Treasury Manager 35 - 50k 35 - 50k

Tax Manager 33 - 50k 33 - 50k

Qualified by Experience


Finance/Internal Audit Manager 20 - 35k 22 - 35k



Accounting Administrator 6 - 12k 6 - 12k

Credit Control Manager 22 - 30k 22 - 30k

NB: All salary packages are inclusive of basic salary, housing and transport and should be considered the monthly cash pay. This does not include medical insurance, flights home or bonus.


MIDDLE EAST BANKING & FINANCIAL SERVICES

Robert Walters Global Salary Survey 20167


2015 2016

General Accounting Roles

Chief Financial Officer 70 - 130k 70 - 130k

Finance Director 45 - 65k 45 - 65k





Compliance

Chief Compliance Officer (MD) 60 - 110k+ 60 - 110k+

Compliance Manager (VP) 35 - 50k 30 - 60k

Sanctions Manager 28 - 40k 30 - 42k

AML Manager 28 - 38k 28 - 38k

Compliance Officer (KYC/AML) 20 - 40k 20 - 40k

Risk

Chief Risk Officer (MD) 60 - 120k+ 60 - 120k+

Head of Risk Management (Director) 42 - 62k 42 - 62k

Manager Credit Risk (VP) 32 - 52k 32 - 52k

Manager Market Risk (VP) 32 - 52k 32 - 52k

Corporate/Wealth Bank

Relationship Manager 5+ yrs 30k+ 30k+

Relationship Manager 0 - 5yrs 18 - 28k 18 - 28k

Corporate & Retail

Head of Corporate Banking 70 - 100k 70 - 100k

Head of Wholesale Banking 90 - 120k 90 - 120k

Asset Management

Fund Manager 40 - 50k 42 - 52k

Asset/Portfolio Manager 45 - 52k 45 - 55k

Research Analyst 15 - 35k 18 - 45k

Trade Support 15 - 25k 15 - 25kNB: All salary packages are inclusive of basic salary, housing and transport and should be considered the monthly cash pay. This does not include medical insurance, flights home or bonus.

Middle East 378

MIDDLE EAST LEGAL



PRIVATE PRACTICE UK PRIVATE PRACTICE US IN-HOUSE

2015 2016 2015 2016 2015 2016

Qualified

9+ yrs' PQE/General Counsel 71 - 73k 71 - 73k 72 - 96k 72 - 96k 65 - 120k 65 - 120k

8 yrs' PQE 68 - 70k 68 - 70k 68 - 88k 68 - 88k 64 - 77k 64 - 77k

7 yrs' PQE 63 - 67k 63 - 67k 64 - 81k 64 - 81k 59 - 73k 59 - 73k

6 yrs' PQE 58 - 61k 58 - 61k 59 - 75k 59 - 75k 55 - 68k 55 - 68k

5 yrs' PQE 54 - 58k 54 - 58k 55 - 67k 55 - 67k 50 - 63k 50 - 63k

4 yrs' PQE 48 - 53k 48 - 53k 50 - 64k 50 - 64k 45 - 57k 45 - 57k

3 yrs' PQE 43 - 46k 43 - 46k 43 - 60k 43 - 60k 40 - 51k 40 - 51k

2 yrs' PQE 39 - 41k 39 - 41k 40 - 55k 40 - 55k 35 - 45k 35 - 45k

1 yr PQE 34 - 37k 34 - 37k 35 - 44k 35 - 44k 32 - 40k 32 - 40k

Newly-qualified 30 - 33k 30 - 33k 31 - 42k 31 - 42k 27 - 36k 27 - 36k

Paralegal

5+ yrs' exp 30 - 38k 30 - 38k 30 - 38k 30 - 38k 30 - 38k 30 - 38k

4 yrs' exp 27 - 32k 27 - 32k 27 - 32k 27 - 32k 27 - 32k 27 - 32k

3 yrs' exp 24 - 28k 24 - 28k 24 - 28k 24 - 28k 24 - 28k 24 - 28k

2 yrs' exp 20 - 24k 20 - 24k 20 - 24k 20 - 24k 20 - 24k 20 - 24k

1 yr exp 17 - 21k 17 - 21k 17 - 21k 17 - 21k 17 - 21k 17 - 21k

0 yrs' exp 15 - 18k 15 - 18k 15 - 18k 15 - 18k 15 - 18k 15 - 18k



MIDDLE EAST PROCUREMENT & SUPPLY CHAIN

Robert Walters Global Salary Survey 20169


2015 2016

Procurement

Procurement Director 70 - 85k 70 - 85k

Procurement Manager 40 - 50k 40 - 50k

Category Manager 30 - 40k 33 - 44k

Buyer 15 - 20k 15 - 20k

Bid Manager 27 - 34k 29 - 36k

Strategic Sourcing Manager 40 - 50k 40 - 50k

Senior Contracts Manager 30 - 50k 30 - 46k

Supply Chain

Supply Chain Director 60 - 75k 60 - 75k

Supply Chain Manager 35 - 50k 35 - 50k

Demand/Supply Planning 25 - 35k 25 - 35k

Materials Manager 33 - 44k 33 - 44k

Logistics Specialist 18 - 27k 18 - 27k

Operations Manager 27 - 40k 27 - 40k

Logistics Manager 25 - 35k 27 - 37k

Warehouse Manager 25 - 35k 25 - 35k


Middle East 380

MIDDLE EAST SALES & MARKETING



2015 2016

Marketing

Head of Marketing/Marketing Director 65 - 85k 60 - 85k

Marketing Manager 30 - 45k 25 - 45k

Marketing Executive 22 - 28k 18 - 28k

Trade Marketing Manager 30 - 38k 30 - 40k

Trade Marketing Analyst 17 - 28k 17 - 28k

Regional Brand Manager 33 - 45k 33 - 45k

Brand Manager 28 - 38k 28 - 40k

Junior Brand Manager 20 - 33k 20 - 35k

Sales

Head of Sales 45 - 55k 45 - 60k

Corporate Account/Sales Director 35 - 45k 40 - 55k

Business Development Manager 35 - 40k 35 - 40k

Key Account/Sales Manager 20 - 35k 20 - 35k

Sales Executive 15 - 22k 15 - 22k

Senior Management

Regional General Manager 90 - 110k 80 - 110k

Managing Director 85 - 110k 80 - 110k

General Manager 65 - 90k 65 - 90k

Country Manager 55 - 80k 55 - 80k


rw middle east 2016 salary survey

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