- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:35 05:51 12:21 15:49 18:46 20:03
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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