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December 16, 2018

UAE Salary Guide 2019 - Accounting & Finance

“Salaries have decreased by an average of 8-10%, due to the oversupply of talent in the market.”

UAE Salary Guide 2019 - Accounting & Finance
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai

Employees are placing job security at the top of their main concerns when considering a career change.

Economic challenges have persisted throughout 2018. We have witnessed a significant number of organisations reducing overhead costs due to much lower average trade values. A common practice of cost cutting is to consolidate functions and positions within a business and the size of the consolidation itself depends mostly on the performance of each organisation.  Attracting and onboarding the right talent is challenging regardless of the economic situation. The main challenge organisations face in finding candidates and assessing their skill sets — whether SMEs or MNCs - is the lack of the necessary resources or expertise required to gauge the suitability and capability of each talent.

Internationally recognised qualifications are becoming the norm.

In the Emirates, upper mid-management roles such as controllers and finance directors are in high-demand. Companies are constantly on the look to transform their finance teams. Chartered and qualified accounting certifications such as CFA, CMA and ACCA have become more important, and we expect these certifications to become the norm. Accounting professionals in the region who have a certification from a professional body are among the highest paid in the GCC while Big 4 trained accountants are typically a must in C-level positions.

Digital innovation in the accounting sector has caused businesses to add “automation” to the list of their required skills.

We have seen some companies move their back-office operations outside of the Emirates to other GCC countries, South East Asia or Europe. While external consultants are always required, many companies are downsizing and becoming selective about choosing when to get the help of consultancy firms due to the decrease in their profit. Transformational skills and international expertise are becoming mandatory for leadership positions.

Assessing soft skills is becoming a critical practice in the hiring process for senior finance professionals.

While organisations are becoming more selective, we have seen a significant increase in the number of corporations seeking help to assess and analyse candidates’ soft skills; psychometric, business personality and counterproductive behaviour assessments.  UAE leaders consider soft skill assessments for senior positions as a critical practice in the hiring and selection of their future employees and peers, we have seen this more often than before in 2018, and budgets for 2019 factor in the associated costs. Background and reference checks during the recruitment process have also become more prevalent, and we expect this trend to continue as an integral part of the selection process.

 

ROLE

 

MIN

MAX

Group Chief Financial Officer

Small to Medium Enterprises

-

-

Large Local groups/ MNCs

90,000

130,000

Chief Financial Officer

Small to Medium Enterprises

55,000

70,000

Large Local groups/ MNCs

70,000

90,000

Financial Director

Small to Medium Enterprises

40,000

55,000

Large Local groups/ MNCs

50,000

70,000

Treasury Director

Small to Medium Enterprises

40,000

55,000

Large Local groups/ MNCs

45,000

65,000

Financial Controller

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

50,000

Financial Planning Analysis Manager

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

45,000

Financial Planning Analysis Director

Small to Medium Enterprises

35,000

45,000

Large Local groups/ MNCs

40,000

55,000

Finance Manager

Small to Medium Enterprises

20,000

30,000

Large Local groups/ MNCs

30,000

45,000

Reporting Manager

Small to Medium Enterprises

15,000

25,000

Large Local groups/ MNCs

20,000

35,000

Budgeting Manager

Small to Medium Enterprises

20,000

30,000

Large Local groups/ MNCs

25,000

40,000

Treasury Manager

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

45,000

Finance / Business Analyst

Small to Medium Enterprises

10,000

15,000

Large Local groups/ MNCs

15,000

25,000

Credit Manager

Small to Medium Enterprises

15,000

20,000

Large Local groups/ MNCs

20,000

25,000

Chief Accountant

Small to Medium Enterprises

12,000

18,000

Large Local groups/ MNCs

20,000

30,000

ROLE

 

MIN

MAX

Financial Accountant

Small to Medium Enterprises

10,000

15,000

Large Local groups/ MNCs

15,000

20,000

AP/AR Accountant

Small to Medium Enterprises

4,000

8,000

Large Local groups/ MNCs

6,000

12,000

Management Accountant

Small to Medium Enterprises

10,000

15,000

Large Local groups/ MNCs

12,000

18,000

Head of Internal Audit / Internal Audit Manager

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

40,000

Internal Auditor

Small to Medium Enterprises

12,000

18,000

Large Local groups/ MNCs

15,000

25,000

 

Monthly salaries in UAE Dirhams (AED). Salaries provided are exclusive of any bonus, guaranteed or otherwise. 

Please click here to view the full salary guide for this sector.

Vilius Dobilaitis By Vilius Dobilaitis

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