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2012 SALARY GUIDE

2012 SALARY GUIDE
2012 SALARY GUIDE

Contents

From the Managing Director .

 

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The hiring forecast

 

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Finance and accounting salaries .

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Financial services salaries .

 

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Human resources salaries .

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Technology salaries .

 

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. Counter-offers: a potentially counterproductive strategy .

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Legal salaries

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Using the salary guide

Consider the 2012 Salary Guide as your business and recruitment handbook, offering starting salaries in the areas of finance and accounting, financial services, technology, legal and human resources throughout the UAE. This guide can help you determine remuneration levels for new employees, plan budgets and navigate today’s hiring environment.

The salary ranges represent the starting remuneration for new hires in US dollars, including housing allowance and transport (based on gross or pre-tax amounts). The salary ranges represent starting remuneration only; ongoing pay is not reported due to difficulty in measuring factors such as seniority, job performance and pay review policies. Bonuses and other remuneration, such as benefits and pension schemes, are also not taken into account.

From the Managing Director The past few years have been pivotal for many organisations. Those that

From the Managing Director

The past few years have been pivotal for many organisations. Those that were able to drive growth and efficiency against a backdrop of global economic uncertainty have emerged stronger and better prepared to confront fiscal variances on the macro level without suffering adverse effects on the micro. It is evident that the people behind the business – particularly in specialist occupations – have proved invaluable in ensuring a company’s economic wellbeing. We’re therefore witnessing a dual economy, where individuals with the most in-demand skills and experience will continue to be highly sought after.

Having access to the most up-to-date remuneration and hiring information allows you to attract and retain top professionals within your organisation. Offering a competitive salary is often the difference between welcoming employees and watching them accept job offers from other companies. The Robert Half UAE 2012 Salary Guide will help guide you through the recruitment process.

While some companies remain cautious and are waiting to see which direction the economy will veer, others are hiring specialist professionals to help steer the company towards growth. We’ve seen the strongest hiring since before the recession, with companies taking the time to attract the right calibre of candidate. In many cases, in-demand professionals are receiving multiple offers, underlining the need for companies to provide an attractive salary and benefits package to secure the talent they need.

We hope you find the Robert Half UAE 2012 Salary Guide useful for your recruitment needs. Please speak with one of our specialist consultants for specific trends affecting your specialism and sector.

Regards

From the Managing Director The past few years have been pivotal for many organisations. Those that

Ian Graves Managing Director Continental Europe and The Middle East

The hiring forecast

Despite an air of caution, there continues to be movement in the job market, with companies hiring specialist professionals to address growth initiatives. Organisations are hiring to fill vacancies due to attrition and to address emerging business opportunities and heavy workloads resulting from understaffed departments. Many of the Dubai-based multinationals in particular are increasing hiring levels, with budgets affecting the quantity and seniority of individuals they bring on. Companies within the pharmaceutical/healthcare, financial services, insurance, FMCG and utilities sectors, in particular, have shown the strongest demand for additional employees.

Fluctuations in global job markets has resulted in increased migration to the UAE, although strong remuneration prospects in Asian and South American markets have increased competition for top talent. With further global expansion expected, professionals with international experience and an understanding of cultural variances are highly valued.

Base salary levels will trend upwards slightly and financial bonuses are expected to be higher and more prevalent. This may come at the expense of expatriate benefits due to the large influx of voluntary migration.

Profession-specific trends

Finance and accounting – Having finished the year on a high note, the job market for accounting and finance professionals remains buoyant going forward into 2012. Companies are looking for qualified professionals for mid- to senior-level roles, including qualified accountants and financial controllers as well as financial directors. Individuals proficient in IFRS, US GAAP and Treasury will be increasingly sought after and those displaying a strong sense of commerciality and communication skills will see increased remuneration prospects.

Financial services – Ongoing changes in the global regulatory environment coupled with a shortage of skilled compliance professionals has resulted in additional demand within the financial services arena, particularly in audit, risk and compliance. Increased demand in retail and corporate banking across the regional institutions has offset more judicious hiring activity among the multinationals, with companies looking for individuals with eight to 15 years of experience coupled with FRM, CFA and MBA qualifications. Specialist skill sets, particularly those with exposure to diversified asset classes and corporate governance, will see remuneration prospects above industry averages.

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Technology – Many companies that put large projects on hold over the past few years are once again investing in applications and development-based technologies as well as in IT infrastructure. This has prompted increased recruitment across these specialisms, with companies seeking experienced mid-level infrastructure specialists and project managers. While the financial services sector was particularly buoyant throughout 2011, there has been increased IT recruitment across commerce and industry through the latter part of the year. This trend is anticipated going forward into 2012.

Legal – Forecasts for legal recruitment remain steady with many companies looking for in-house legal counsel with international exposure and multinational business experience. Mid- to senior- level lawyers are in demand, particularly in the FMCG, healthcare, pharmaceutical and financial services sectors, with arbitration and litigation lawyers seeing increased opportunities in real estate. While base salary remains steady, companies are more frequently issuing bonuses that were often curtailed throughout the downturn, resulting in higher total compensation.

Human resources – The market for human resources specialists is optimistic with companies investing in experienced professionals across senior management and directorship roles. Companies are focused on hiring individuals that meet more of their prerequisites, often resulting in extended recruitment and interview periods. HR professionals with strong technical skills and international exposure, coupled with a CIPD qualification or equivalent are in demand, with remuneration prospects largely aligning themselves to macroeconomic conditions.

ROBERT HALF FINANCE AND ACCOUNTING SALARIES (in USD)

 

Job title

Company

0-2 years*

3-5 years*

6-9 years*

10-15 years*

16 years +*

size

Finance Director (CFO)

S/M

-

-

160,000 - 210,000

200,000 - 300,000

230,000 - 450,000

Large

-

-

200,000 - 230,000

220,000 - 320,000

250,000 - 500,000

Chief Accountant

S/M

-

90,000 - 115,000

105,000 - 122,000

115,000 - 130,000

115,000 - 130,000

Large

-

95,000 - 120,000

105,000 - 130,000

115,000 - 130,000

115,000 - 134,000

Financial Controller

S/M

-

80,000 - 115,000

96,000 - 130,000

100,000 - 150,000

100,000 - 180,000

Large

-

91,000 - 115,000

101,000 - 150,000

105,000 - 160,000

110,000 - 180,000

Treasurer

S/M

-

-

96,000 - 112,000

110,000 - 130,000

110,000 - 130,000

Large

-

-

96,000 - 112,000

120,000 - 200,000

120,000 - 200,000

Finance Manager

S/M

-

70,000 - 90,000

88,000 - 135,000

110,000 - 150,000

-

Large

-

72,000 - 100,000

100,000 - 140,000

115,000 - 160,000

-

Tax Manager

S/M

-

50,000 - 65,000

65,000 - 100,000

100,000 - 150,000

100,000 - 150,000

Large

-

52,000 - 80,000

70,000 - 120,000

120,000 - 150,000

120,000 - 150,000

Financial Analyst

S/M

58,000 - 68,000

65,000 - 85,000

65,000 - 85,000

-

-

Large

58,000 - 68,000

65,000 - 85,000

65,000 - 85,000

-

-

Compliance Officer

S/M

-

56,000 - 70,000

71,000 - 95,000

71,000 - 95,000

71,000 - 95,000

Large

-

60,000 - 75,000

76,000 - 98,000

76,000 - 98,000

76,000 - 100,000

Audit Manager

S/M

-

-

110,000 - 148,000

100,000 - 170,000

110,000 - 180,000

Large

-

-

110,000 - 148,000

125,000 - 200,000

120,000 - 200,000

Internal Auditor

S/M

49,000 - 54,000

50,000 - 65,000

67,000 - 108,000

67,000 - 115,000

-

Large

52,000 - 57,000

52,000 - 57,000

68,000 - 115,000

68,000 - 130,000

-

Management Accountant

S/M

62,000 - 71,000

70,000 - 94,000

72,000 - 110,000

80,000 - 110,000

-

Large

62,000 - 73,000

72,000 - 98,000

72,000 - 112,000

78,000 - 115,000

-

Payroll Manager

S/M

-

65,000 - 72,000

70,000 - 90,000

70,000 - 90,000

70,000 - 90,000

Large

-

67,000 - 75,000

75,000 - 98,000

76,000 - 100,000

76,000 - 100,000

Credit Manager

S/M

-

65,000 - 72,000

73,000 - 100,000

73,000 - 100,000

73,000 - 100,000

Large

-

67,000 - 75,000

76,000 - 100,000

76,000 - 100,000

76,000 - 100,000

Credit Controller

S/M

32,000 - 45,000

45,000 - 62,000

-

-

-

Large

39,000 - 50,000

50,000 - 62,000

-

-

-

Accountant General Ledger

S/M

62,000 - 80,000

70,000 - 94,000

72,000 - 110,000

80,000 - 110,000

-

Large

62,000 - 80,000

72,000 - 98,000

72,000 - 112,000

80,000 - 115,000

-

Accountant AP/AR

S/M

65,000 - 80,000

68,000 - 94,000

72,000 - 110,000

-

-

Large

65,000 - 80,000

68,000 - 98,000

72,000 - 110,000

-

-

Assistant Accountant

S/M

32,000 - 45,000

45,000 - 62,000

50,000 - 62,000

-

-

Large

39,000 - 50,000

50,000 - 62,000

50,000 - 62,000

-

-

*total relevant experience in finance and accounting

 

ROBERT HALF FINANCIAL SERVICES SALARIES (in USD)

 

Job title

Company

0-2 years*

3-5 years*

6-9 years*

10-15 years*

16 years +*

size

Risk

Chief Risk Officer

S/M/L

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-

-

250,000 - 400,000

400,000 +

Head of Risk Management

S/M/L

-

-

-

125,000 - 150,000

150,000+

Head of Credit Risk

S/M/L

-

-

-

120,000 - 150,000

150,000+

             
 

Credit Risk Analyst / Manager

S/M/L

50,000 - 75,000

75,000 - 90,000

90,000 - 150,000

150,000+

-

Market Risk Manager

S/M/L

40,000 - 70,000

70,000 - 100,000

100,000 - 150,000

150,000+

-

Operational Risk Manager

S/M/L

-

55,000 - 95,000

95,000 - 120,000

120,000 +

-

Credit Analyst

S/M/L

35,000 - 50,000

50,000 - 90,000

90,000 - 120,00

-

-

Front office

Managing Director

S/M/L

-

-

-

250,000 - 290,000

290,000 +

Director

S/M/L

-

-

-

220,000 - 282,000

280,000 +

Vice President

S/M/L

-

147,000 - 200,000

180,000 - 220,000

-

-

Associate

S/M/L

-

110,000 - 145,000

137,000 - 162,000

-

-

Analyst

S/M/L

65,000 - 95,000

90,000 - 115,000

-

-

-

Compliance

Head of Compliance

S/M/L

-

-

130,000 - 170,000

170,000 - 300,000

300,000 +

Compliance/AML Manager

S/M/L

-

80,000 - 110,000

110,000 - 140,000

-

-

Compliance/AML Officer

S/M/L

50,000 - 60,000

60,000 - 85,000

-

-

-

Insurance

Head of Underwriting

S/M/L

-

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-

-

230,000+

Underwriting Manager

S/M/L

-

65,000 - 105,000

105,000 - 135,000

135,000 - 155,000

-

Head of Actuary

S/M/L

-

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-

-

180,000+

Actuary

S/M/L

-

55,000 - 75,000

75,000 - 100,000

100,000+

-

Head of Claims

S/M/L

-

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-

-

210,000+

Claims Manager

S/M/L

-

-

100,000 - 150,000

150,000 - 185,000

185,000+

Business Development

S/M/L

-

65,000 - 90,000

90,000 - 130,000

130,000 - 160,000

160,000+

*total relevant experience in financial services

ROBERT HALF HUMAN RESOURCES SALARIES (in USD)

 

Job title

Company

3-5 years*

6-9 years*

10-15 years*

16

years +*

size

HR Director/Head of HR

S/M/L

-

130,000 - 150,000

150,000 - 200,000

200,000 +

HR Manager/Regional

S/M/L

-

75,000 - 100,000

100,000 - 115,000

 

-

Regional/Head of Recruitment

S/M/L

-

90,000 - 110,000

110,000 - 150,000

150,000 +

Learning & Development Manager (L&D)/Head of L&D

S/M/L

-

75,000 - 90,000

110,000 - 150,000

150,000 +

Compensations & Benefits Manager (C&B)/Head of C&B

S/M/L

-

75,000 - 90,000

110,000 - 150,000

150,000 +

Recruitment Manager

S/M/L

65,000 - 75,000

75,000 - 90,000

-

 

-

HR Officer/Generalist

S/M/L

45,000 - 60,000

60,000 - 75,000

-

 

-

 

*total relevant experience in human resources

ROBERT HALF TECHNOLOGY SALARIES (in USD)

 

Job title

Company

3-5 years*

6-9 years*

10-15 years*

16

years +*

size

CIO/CTO

S/M/L

-

-

-

260,000 - 380,000 +

 

IT Director

S/M/L

-

-

-

165,000 - 260,000 +

 

IT Security

S/M/L

60,000 - 70,000

80,000 - 100,000

100,000 - 150,000

150,000 - 200,000 +

Project Manager/Programme Manager

S/M/L

80,000 - 90,000

90,000 - 120,000

100,000 - 150,000

150,000 - 200,000 +

Enterprise Architect/Solutions Architect

S/M/L

-

71,000 - 112,500

100,000 - 147,500

150,000 - 200,000 +

Application Manager

S/M/L

-

71,000 - 91,000

115,000 - 160,000

158,000 - 170,000 +

Business Intelligence Specialist

S/M/L

-

80,000 - 100,000

100,000 - 147,500

130,000 - 195,000 +

 

IT Manager

S/M/L

-

65,000 - 100,000

80,000 - 125,000

112,500 - 147,500 +

Network Engineer

S/M/L

58,700 - 78,500

78,500 - 91,500

114,000 - 130,000

 

-

+

Business Analyst

S/M/L

52,000 - 71,000

65,000 - 100,000

80,000 - 112,500

130,000 - 150,000 +

Technical Support Specialist

S/M/L

49,000 - 71,000

71,000 - 85,000

-

 

-

+

Database Administrator

S/M/L

-

58,700 - 81,000

97,000 - 150,000

 

-

+

System Administrator

S/M/L

32,500 - 49,000

49,000 - 65,000

65,000 - 100,000

 

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*total relevant experience in technology

ROBERT HALF LEGAL SALARIES (in USD)

 

Job title

Company

0-2 years*

3-5 years*

6-9 years*

10-15 years*

16 years +*

size

In-house

Head of Legal/Chief Legal Officer/General Counsel

S/M/L

-

-

-

228,000 - 325,000

325,000 +

Regional Legal Counsel/ Legal Manager

S/M/L

-

-

164,000 - 245,000

228,000 - 300,000

295,000 +

Legal Counsel

S/M/L

49,000 - 82,000

82,000 - 148,000

148,000 - 245,000

212,000 - 295,000

295,000 +

Paralegal

S/M/L

32,000 - 65,000

65,000 - 98,000

91,000 - 124,000

-

-

Legal Secretary/

S/M/L

32,000 - 50,000

50,000 - 65,000

65,000 - 100,000

-

-

Legal Assistant

Private practice

Partner

S/M/L

-

-

196,000 - 280,000

261,000 - 360,000

360,000 +

Senior Associate

S/M/L

-

-

147,000 - 228,000

245,000 - 294,000

-

Mid Associate

S/M/L

-

114,000 - 164,000

-

-

-

Junior Associate

S/M/L

65,000 - 114,000

-

-

-

-

Paralegal

S/M/L

49,000 - 82,000

82,000 - 98,000

98,000 - 137,000

-

-

*total relevant experience in legal

Counter-offers: a potentially counterproductive strategy

As companies grow more concerned about retaining business-critical staff, they may be tempted to extend counter-offers to employees who plan to leave for another job. The most cited issue is lack of loyalty to the organisation, but other aspects of the situation can be problematic as well. Here are four key drawbacks of counter-offers to consider:

Trust may never be the same – If the employee was completely satisfied working for the company, the employee’s manager wouldn’t now be having to discuss counter-offers. Even if the requested adjustments are made, the individual may begin to question why it took the threat of departure for the company to recognise his or her value and improve the job.

Some things can’t be changed – Although some employee concerns can be addressed, there may be additional considerations that can’t be resolved. For example, old conflicts with other staff members or incompatibility with the corporate culture may cause the person to rethink the decision and leave.

Salary adjustments may be complicated – A counter-offer may not only affect the department’s budget but also the team. Paying someone more than the typical pay scale could disrupt an organisation’s remuneration structure. It also could create resentment among other deserving employees.

Future advancement may be limited – If competent, productive employees feel there is no room for further growth in your firm, it would be unfair to try to convince them to stay. Even with a bump up in salary, they will still likely become unhappy with their stalled career and, as a result, be less productive.

Counter-offers may solve a short-term problem, but they rarely lead to long-term satisfaction. While the prospect of losing a valued employee may seem daunting, there is a bright side: managers may uncover new stars on their team or hire someone who brings an even more impressive skill set.

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2012 Salary Guide | 11

Our specialised services

Robert Half Finance & Accounting

Robert Half Finance & Accounting is the world’s first and largest recruitment

consultancy specialising in the placement of accounting and finance professionals.

Robert Half Financial Services

Robert Half Financial Services specialises in placing high-calibre banking and capital

markets, insurance, compliance and risk professionals.

Robert Half Technology

Robert Half Technology is a leading provider of high-quality professionals across the

whole spectrum of IT, from helpdesk and technical support to database management and chief information officers.

Robert Half Human Resources

Robert Half Human Resources specialises in the placement of highly-skilled

professionals in HR management, recruitment, training and development, and compensation and benefits.

Robert Half Legal

Robert Half Legal specialises in the recruitment and selection of highly qualified legal professionals for law firms and corporations.

Robert Half International (UAE) Ltd

Dubai International Financial Centre (DIFC) Gate Village 1, Level 1 PO Box 482100 Dubai, United Arab Emirates Telephone: +971 (0) 4 3826700

Regus Al Bateen Business Center, C6 Tower Bainuna St. 34, PO Box 113100 Abu Dhabi, United Arab Emirates Telephone: + 971 2 406 9669

www.roberthalf.ae

© 2012 Robert Half. An Equal Opportunity Employer. RH-UAE-0229-SG-0112

Our specialised services Robert Half Finance & Accounting Robert Half Finance & Accounting is the world’s
Our specialised services Robert Half Finance & Accounting Robert Half Finance & Accounting is the world’s