Cooper Fitch Dubai

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December 17, 2018

UAE Salary Guide 2019 - Advisory

“We envisage the hiring to increase by 10 to 15 percent in the UAE. UAE has a large number of international expats in the market across the Advisory firms filling various roles from Associates to Partners.”

UAE Salary Guide 2019 - Advisory
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai

The rise and growth of boutique firms challenge established advisory firms.

The exponentially growing economy of the Emirates has been affecting advisory firms. The economic growth has been slow since 2016 but the economy in 2018 is picking up quickly, and this is expected to continue in 2019 in hopes to fulfil Vision 2021 requirements. The effects of Vision 2021 have already started to be prevalent amongst both the public and private sector as the country’s GDP increased over the last 12 to 24 months. The economy is set to accelerate growth this year and in 2019 after a difficult 2017 when growth reduced to a seven-year low of 1.5 per cent. Expo 2020 is a key economic driver for the government sector and infrastructure projects. A change to the market has been the growth of boutique firms in fields such as restructuring, investigations, forensics, risk advisory, Mergers and Acquisitions (M&A) and they are successfully winning market share.

Hiring in the UAE is predicted to increase by 10 to 15 per cent in 2019.

The hiring process or timeline has not drastically changed.  Competency-based tests and case studies are on the rise. Cooper Fitch has seen an increase with consulting firms running assessment tests to affirm the full proficiency and capacity of their candidates. We envisage the hiring to increase by 10 to 15 per cent in the UAE. UAE has a large number of international expats in the market across the Advisory firms filling various roles from Associates to Partners. A high percentage of international talent specialise in certain fields such as PPP, Infrastructure Advisory, Public Sector as well as Oil & Gas.

Lack of talent in advisory firms is prevalent due to the requirement of niche skill-sets.

There is a battle to find local talent in areas such as debt advisory, Restructuring and M&A. 2019 will see a slight increase in Big 4 firms seeking UAE nationals. A high proportion of UAE nationals in Big 4 are hired from non-consulting firms such as the public sector and the banking and financial services sector. We envisage the most in-demand roles for the coming year will be in strategy PMOs, infrastructure advisors, mergers and acquisitions, deal originators and operational, transactional advisory. The region has a lot of certified and qualified professionals with reputable certifications such as CFA, CPA, CFA, ACCA. There is a high number of auditing professionals from the local market including Arabic speakers.

Integrating technology in the workplace will be a huge benefit to Advisory Firms.

Advisory practices and Big 4 firms are becoming increasingly competitive. While employees are looking for development and learning opportunities within their career, they need to be exposed to opportunities such as collaborating with internal and external stakeholders and being rewarded financially. Advisory firms need to embrace new technologies that allow mobility and flexibility of the workplace environment. Employees feel the need to be recognised beyond the regular financial rewards with exposure to different clients and involvement in complex projects. Technology is playing a critical role in client engagement and optimisation especially in Big 4 and advisory firms. Consulting firms have increased their technology team internally regarding size and technical skill-set. Many subsectors are growing because of technological advancements within service lines such as forensics, e-discovery, digital forensics and disputes and investigations within those sectors.

We are expected to see more advisory firms allowing their employees a mobile and flexible work environment.

Many factors come into play when it comes to attracting and retaining talent. It is a highly competitive environment which is becoming even more competitive by the day. Firms need to keep investing in development and training programs for their employees. The opportunity to collaborate with different internal and external stakeholders should be presented to everyone working in the Advisory and Big 4 firms. One of the reasons that junior to mid-level employees leave their current organisations is not getting enough exposure to complex projects and collaboration.  Many advisory firms are now allowing their employees a mobile and flexible work environment. Due to their long working hours and very tight deadlines, rewarding employees need to go beyond financial recognition and firms need to adapt to the changing workplace. Working flexibility and allowing employees to work from home will reduce costs and help retain employees in today’s world.

 

ROLES

TITLE

MIN

MAX

AUDIT

Associate

8,000

11,000

 

Senior Associate

12,000

16,000

 

Assistant Manager

16,000

22,000

 

Manager

22,000

30,000

 

Senior Manager

32,000

37,000

 

Director

40,000

47,000

 

Partner (1-5 years)

50,000

80,000

 

Partner (5+ years)

85,000

120,000

RISK CONSULTING

Associate

12,000

15,000

 

Senior Associate

16,000

22,000

 

Assistant Manager

23,000

27,000

 

Manager

28,000

35,000

 

Senior Manager

37,000

45,000

 

Director

50,000

60,000

 

Partner (1-5 years)

65,000

90,000

 

Partner (5+ years)

95,000

150,000

DEAL ADVISORY &

Associate

12,500

15,500

TRANSACTION

Senior Associate

16,500

22,500

SERVICES

Assistant Manager

24,000

28,000

 

Manager

29,000

36,000

 

Senior Manager

38,000

46,500

 

Director

52,000

65,000

 

Partner (1-5 years)

70,000

95,000

 

Partner (5+ years)

100,000

165,000

 

ROLES

TITLE

MIN

MAX

STRATEGY &

Associate

13,000

16,000

MANAGEMENT

Senior Associate

18,000

22,000

CONSULTING

Assistant Manager

23,000

30,000

 

Manager

32,000

37,000

 

Senior Manager

41,000

48,000

 

Director

55,000

70,000

 

Partner (1-5 years)

90,000

110,000

 

Partner (5+ years)

150,000+

 

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.

Jack Khabbaz By Jack Khabbaz

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