UAE salaries set to rise by 4.5% in 2024: Which sectors are hiring?

Dubai: Job market projections in the UAE are looking good for workers in the country, as two salary guides released recently expect salaries to rise and also highlight the roles that are going to be in demand in different sectors.

According to a salary guide released by Cooper Fitch, salaries in the UAE are expected to grow by 4.5 per cent, with 56 per cent of companies that responded to their survey saying that they expect to hire more people in 2024. Fifty three per cent of this year’s respondents also said that they plan to raise wages, according to the recruitment agency’s report.

Which skills are in demand?

The Cooper Fitch survey also noted that hiring from outside the UAE may increase, as 27 per cent of respondents said that they may look for talent from outside the UAE.

Top 10 skill shortages

1. Management
2. Leadership
3. Analytical skills
4. Project management
5. Artificial Intelligence
6. Engineering
7. Software development
8. Sales
9. Finance
10. Data Science

What to remember when looking for a job

Another salary guide released by Robert Half, an international recruitment agency, found that 69 per cent UAE-based workers who were surveyed planned to move to a new company in 2024. However, the market outlook, as per the Robert Half Salary Guide 2024 has some words of caution for job seekers.

While companies are still making new hires, the report found that a majority of the roles were replacements, rather than newly created roles.

“So while there is churn, there are a limited number of opportunities for candidates,” the report noted.

“The market is shifting – and the primary motivation for candidates is now stability or progression opportunities, rather than increased salaries,” it added.

Jobs in finance and accounting

The survey found that while the sector is seeing less movement at a senior level, candidates at a middle management level are in demand and employers are determined to hold onto their best talent – particularly in corporate accounting.

Most in-demand roles

• Financial planning and analysis manager
• Financial analyst
• Commercial finance manager
• Group financial controller
• Head of finance

Most in-demand technical skills and experience

• Enterprise resource planning (ERP)
• Excel (high-level)
• Financial modeling
• Data room management
• IPO and corporate listings

Jobs in IT and technology

The report found that the sector didn’t see much growth in 2023 and this trend was expected to remain in the coming year, too.

Most in-demand roles

• Project Manager
• Software Developer (front-end)
• Software Developer (back-end)
• Chief Technology Officer
• Head of IT

Most in-demand technical skills and experience

• Oracle Fusion
• Java
• Python
• Test automation

Jobs in administrative, HR and office support

Most in-demand roles

• HR Director
• Head of Talent Management
• HR Generalist
• Talent Acquisition Manager
• Executive Assistant

Hard-to-find candidates

• Head of compensation and benefits
• HRIS (Human Resources Information Systems) manager
• HR transformation director

Jobs in the legal sector

Most in-demand roles

• Senior Legal Associate
• Senior Legal Counsel
• Corporate Lawyer

In-demand technical skills and experience

• Contract negotiation
• Litigation
• Drafting (Arabic)
• Tax experience

Jobs in financial services

Most in-demand roles

• Compliance manager
• Fund accountant
• Finance manager
• Relationship manager (Asset Management and private banking)
• Brokers

In-demand technical skills and experience

• ACAMS (compliance)
• ACCA (accountancy)
• Financial modeling
• Fund performance analysis
• M and A (Mergers and acquisitions) experience