Know Your Worth: How much are UAE bankers paid

Take Emirates 24|7’s salary survey to know if you should be getting a pay hike

The past few years have been tough for consumer banking globally.

After more than a decade of growth and strong profits, consumer banks are faced with challenges due to regulatory changes as well as consumer pressure to make these institutions safer.

Despite the changed scenario and the difficult times that banks have been through, there are opportunities in the sector if you are a looking for a job, or plan to change roles.

Emirates 24|7’s Know Your Worth Series: Consumer Banking, provides a salary comparison if you want to negotiate a pay rise or simply want to ensure you're being paid fairly.

Looking into the year ahead, Shane Phillips, Mena Regional Practice Leader, Financial & Professional Services at Stanton Chase, believes “growth areas for the remainder of 2012 will be Private Banking and Wealth Management across the board. 

Click here to know the salary levels for various positions in consumer banking in the UAE 

“Banks will be looking at adding net new money to their business by growing their UHNW and HNW clientele base.

“Increased demand on IT and IT infrastructure both from an operations perspective as well as from a business development perspective will continue to drive demand for executive IT talent.

“Risk, Compliance and Legal will continue to both widen and deepen as we move forward into 2013.”

According to Suhail Masri, VP of Sales at Bayt.com, qualified talent will be readily available in the country keeping salaries competitive in consumer banking.

“A generous and growing supply of top caliber talent from the UAE and from around the region seeking lucrative opportunities in the UAE banking and finance sector have ensured salaries in the sector remain very competitive and that the quality of professionals the healthy local financial institutions can attract remains extremely attractive,” he told Emirates 24|7.

Consumer banking remains one of the most sought after ones due to their good pay packages and in-house training and growth opportunities.

“The sector continues to be known for its rigorous training and development programmes and its generous career planning provisions for peak performers and the management track, especially within the larger, older and more established institutions in the sector.

“Opportunities for growth and advancement in this sector as well as competitive pay and benefits practices make it one of the country's most attractive sectors for professionals,” added Masri.

Phillips of Stanton Chase believes the opportunities in China will have a positive impact on growth opportunities within the sector.

“Banks are now beginning to build China teams within their banks. A greater focus on China will increase demand for executives with Asian experience.

“In 2005, there were approximately eight Chinese companies registered in the UAE, today there are over 2,000.

“The growth rate is huge and banks are now reacting to this trend by offering their full suite of services in Mandarin,” he told this website.

Click here to read on salaries in accounts and finance in the UAE

Title

AVG in AED/month (2012)

Assistant Branch  Manager

16,295

Branch Manager

22,072

Business Development  Manager

17,088

Relationship  Manager: Premier Banking

19,523

National Sales  Manager: Mortgages

27,313

Portfolio Manager:  Cards

23,000

Product Manager:  Retail Products

33,972

Product Officer

17,488

Head of Retail

53,625

Head of Retail  Credit

36,204

Head of Risk

49,092

Head of Credit  Analytics

48,000

Head of Credit  Policy

84,333

Head of Loyalty

20,500

Head of Call Centre

14,600

Head of Premier  Banking

18,183

Head of Collections

39,625

Business  Intelligence Analyst

13,571

Collections Manager

15,707

COO

59,792

Country Head

75,000

Source: Bayt.com; Salaries exclude bonus

 

Title

AVG in AED/month (2012)

Assistant Branch  Manager

28-35,000

Branch Manager

30-45,000

Business Development  Manager

20,000 plus

Relationship  Manager: Premier Banking

18-28,000

Chief Risk Officer

70-120,000

Portfolio Manager:  Cards

28-35,000

Product Manager:  Retail Products

28-35,000

Product Officer

20-25,000

Head of Retail

60-80,000

Head of Retail  Credit

35-50,000

Head of Risk

50-70,000

Head of Credit  Analytics

35-45,000

Head of Corporate Banking

70-90,000

Head of Audit

65-90,000

Head of retail operations

35-50,000

Head of Premier  Banking

50-70,000

Head of Collections

30-45,000

Collections Manager

20-30,000

COO

80-120,000

Country Head

120-150,000

Source: Huxley; Salaries exclude bonus

       

Title

AVG in AED/month (2012)

Assistant Branch  Manager

28,000

Branch Manager

45,000

Business Development  Manager

30,000

Relationship  Manager: Premier Banking

30,000

National Sales  Manager: Mortgages

55,000

Portfolio Manager:  Cards

55,000

Product Manager:  Retail Products

55,000

Product Officer

50,000

Head of Retail

85,000

Head of Retail  Credit

65,000

Head of Risk

75,000

Head of Credit  Analytics

65,000

Head ofMerchant Services

75,000

Head ofRetail Operations

95,000

Head of Call Centre

55,000

Head of Premier  Banking

85,000

Head of Collections

65,000

ChiefRisk Officer

150,000

Collections Manager

80,000

COO

120,000

Country Head

150,000

Source: Stanton Chase; Salaries exclude bonus

               

Title

AVG in AED/month (2012)

Assistant Branch  Manager

18,000

Branch Manager

32,000

Business Development  Manager

30,000

Business Intelligence Analyst

22,000

Chief Risk Officer

80,000

Portfolio Manager:  Cards

26,000

Product Manager:  Retail Products

30,000

Product Officer

15,000

Head of Retail

70,000

Head of Retail  Credit

50,000

Head of Risk

57,500

Head of Credit  Analytics

37,500

Head of Premier  Banking

52,500

Head of Collections

45,000

Collections Manager

25,000

COO

72,500

Country Head

150,000

Head of Acquiring

40,000

Head of Call Centre

40,000

Head of Retail Operations

45,000

Head of Credit Policy

42,500

Head of Issuing

40,000

Head of Loyalty

40,000

Head of Merchant Services

40,000

Head of Partnerships

40,000

Head of Product Development ‐ Retail Products

40,000

National Sales Manager ‐ Mortgages

30,000

POS Specialist

29,000

Relationship Manager

21,000

Source: Charterhouse; Salaries exclude bonus

 

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