Dubai: As businesses across the world tide over the wave of uncertainty that COVID-19 brought to the workplace, hiring patterns and pays are going to see a slight change. In a recent study published by Michael Page, a global recruitment specialist, some of the highest paid jobs in 2022 will be in the banking and finance sector. This is as per the Salary Guide and Hiring Insights for the UAE in 2022, which was published recently.
While in 2021, the demand was high for risk managers within the field of accounting and finance, next year Consumer Banking Heads and Chief Financial Officers are expected to take home the highest pay packets.
Here is a breakdown of the top jobs that are expected to be in demand in various sectors like banking, production, finance and IT, as per the study. The salaries mentioned below include basic allowance, along with housing and transport.
Banking and Financial Services
Positions in demand:
1. Investments Associate
2. Finance Manager – Investments
3. Institutional Sales - Director, Associate
4. Compliance Manager
5. Corporate Development / Investments - Manager / Director
6. Fund Finance Manager
The salaries depend on the position one holds within a particular category. For example, within investment banking, while an analyst may make between Dh18,000 to Dh35,000 a month, an individual holding a managing director’s position could take home anywhere between Dh87,000 to Dh185,000 a month.
For Investments Associates, the most in demand job as per the study, the salary may range from Dh28,000 per month, to Dh57,000 per month.
Consultancy, Strategy and Change
With COVID-19 forcing companies to rework their strategies and manage the ever-changing work environment, jobs in consultancy, strategy and change will continue to be in high demand.
Positions in demand:
Industry Roles
1. Corporate Strategy & Planning professionals
2. Business Project & Transformation professionals
3. Strategic Partnership / Joint Venture / Business Development professionals
External Consulting
1. Public Sector
2. Tech & Digital
Entry level jobs within Corporate Strategy and Planning can pay between Dh20,000 to Dh28,000 a month, while salary for senior leadership positions can range from Dh65,000 to Dh120,000.
Data and Analytics
Positions in demand
Industry Roles
1. Data Engineering professionals
2. Industry specific Analytics professionals
3. Senior leadership across Data Analytics & Science
Data Science
1. Predictive Analytics focused professionals
2. Statisticians
Data Engineers will be able to take home between Dh15,000 to Dh35,000 as per the study.
Digital
With a solid shift in businesses towards digital platforms, whether for their employees or customers, this sector will see a lot of demand for the following positons:
1. User Experience Design
2. Growth-focused Digital Marketing
3. Product Development
4. Digital Transformation Project Management
5. E-commerce Leadership
While visual designers could take home a salary ranging between Dh12,000 to Dh22,000 a month, senior level positions can fetch anywhere between Dh50,000 to Dh70,000.
Engineering and Manufacturing
Positions in demand
1. COO
2. General Manager
3. Plant Manager
4. Business Excellence Manager
5. R&D Manager
With the pandemic forcing industries to focus on lean manufacturing, the average monthly salary of a Chief Operating Officer would be around Dh80,000 next year, as per the report, reaching up to Dh100,000.
Finance and Accounting
Positions in demand
1. Regional Head of Finance / Finance Director
2. Tax Managers (Direct & Indirect)
3. Credit Manager / Controller
4. Internal Audit / Risk Manager
5. Financial planning and analysis Manager / Senior Analyst
While Finance Directors at Small and Medium Enterprises can take home up to Dh70,000 a month, at multinational companies, the pay package can go up to Dh80,000.
Healthcare and Life Sciences
Positions in demand
Healthcare
1. Nurse
2. Laboratory Technician
3. Doctor / Physician
Life Sciences
1. Regional Sales Manager
2. Marketing Manager
The average salary of a nurse, as per the study, is expected to be around Dh11,500 per month in 2022, while doctors can earn anywhere between Dh40,000 to Dh160,000, depending on their specialty.
Human Resources
Positions in demand
1. Talent Acquisition & Recruitment Manager/Specialist
2. Regional HR Manager (ideally with exposure to Saudi Arabia)
3. Talent & Performance Management Specialist
With the focus on getting the right candidates in place for the jobs at hand, a talent acquisition and recruitment manager may make between Dh30,000 to Dh40,000 a month, while a Regional HR Manager can make up to Dh48,000 a month.
Legal
Positions in demand
1. Regulatory Development Lawyer
2. Corporate Associate
3. Fintech / E-payments / Cryptocurrency
4. Construction / Major Projects
5. Public Sector
As per the study, while in-house General Counsels could earn up to Dh130,000 a year, at a private practice or firm, a partner can make over Dh180,000 a month.
Oil & Gas
Positions in demand
1. Operations Manager
2. Project Manager
3. Commissioning / Decommissioning Manager
4. Design Manager
5. Estimating / Cost Manager
Operations Managers at Oil and Gas companies can make anywhere between Dh40,000 to Dh50,000 a month.
Procurement and Supply Chain
Positions in demand
1. Technology Procurement Manager
2. Third Party Logistics / Transport Manager
3. Customer Service Project Manager
4. Customer Service & Logistics Specialist
5. Procure to Pay Manager
While a Procurement Manager could earn around Dh25,000 a month, more senior positions in Procurement, like that of the Chief Procurement Officer can pay up to Dh150,000.
Property and Construction
Positions in demand
1. Project Director
2. Project Manager
3. Real Estate Asset Management
4. Leasing
5. Facilities Management
Project Directors at contracting firms can earn anywhere between Dh60,000 to Dh75,000.
Retail
Positions in demand
1. Trainers
2. Store Managers
3. Marketers (with e-commerce experience)
4. Buyers for Online Channels
5. Contract Sales Staff
Trainers at retail establishments can earn between Dh15,000 to Dh30,000 a month.
Sales and Marketing – Consumer
Positions in demand
1. Marketing Manager
2. Commercial Director
3. Business Development Manager / Regional Sales Manager
Marketing Managers as well as Regional Sales Managers can earn up to Dh55,000 as per the industry estimates posted by Michael Page.
Sales and Marketing - B2B
Positions in demand
1. Sales Director
2. Account Manager
3. Sales Team Leader
Sales and marketing jobs at senior positions, like Regional Sales Director or a Communictions Director could offer a take-home package of up to Dh60,000.
Secretarial and Office Support
Positions in demand
1. Office Manager and Executive Assistant
2. Executive Assistant (with Team Assistant responsibilities)
3. Office Administrator / Team Assistant
4. Office Manager / Executive Assistant (client onboarding or compliance experience)
5. Executive Assistant (with RFP experience)
Office managers and executive assistants are one of the most in-demand jobs in the office support sector, with salaries going up to Dh27,000 to Dh28,000.
Technology
Positions in demand
1. Front End Developer
2. Full Stack Developer
3. Head of Software Engineering
4. Cloud Architect / Engineer
5. IT Project Management
According to the report, the demand for strong technical software development professionals is rapidly increasing with a lot of companies in the Middle East digitising their processes, with a Full Stack Developer earning as much as Dh35,000.
