How much do UAE bank managers get paid

Experts says even location of the branch can determine the pay package

The monthly salary of a bank branch manager in the UAE starts around Dh30,000 and goes up depending on many variables such as the size of the branch, the number of employees employed at the branch and even location.

As per Shane Phillips, Mena Regional Practice Leader, Financial & Professional Services at Stanton Chase, a junior branch manager, managing one branch can take home Dh30,000 every month, plus a bonus of two to six months’ salary.

A branch manager, on the other hand, managing 2 to 4 branches, can expect a salary of Dh40,000 a month, plus a bonus of 2 to 6 months. Next is the regional branch manager, who manages 5-plus branches.

The person in this position can earn a salary of Dh50,000 plus a bonus of 2 to 8 months.

The highest paid in this category are head of branches. They make Dh60,000 to Dh80,000 depending on the size of the bank and the number of branches.

According to Hasnain Qazi, Middle East Business Manager at Huxley Associates, “Salaries vary depending on the branch location; whether it is a start-up or a developed branch; if it is in a residential or commercial location, as well as how many staff are employed in the branch.

Junior, mid- and senior branch managers (Emirati) can command remuneration from Dh28,000 to Dh45,000, plus performance bonus.”

According to Charterhouse figures, the average salary of an assistant branch manager is Dh18,000 per month and can go up to Dh23,000. The average salary of a branch manager is Dh32,000 and goes up to Dh36,000.

Responsibilities of the branch manager includes setting the business plan for the branch, ensuring that targets are exceeded, maintaining control over daily branch operations, ensuring risk management, cost control, audit, compliance, internal and external reporting obligations.

Bank manager positions are open only to the local population in the country. “Branch managers in the UAE have to be Emirati as per local regulations,” Qazi told Emirates 24|7.

Banking is one of the most popular sectors for employment among the local population. Most banks in the country have increased their emiratisation drive and many banks in the country have reported more than 30 per cent of the staff to be Emiratis.

 

 

 

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 [Image via Shutterstock]

 

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