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29 March 2024

Click here to find out how much money does your CEO make

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By Shuchita Kapur

For the second consecutive year, the chief executives of the top companies in Dubai have seen a freeze on their salaries with individual performers being in the limelight.

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“I think over the last two years, you have seen base salaries freeze while companies are rewarding their top performers with bonuses.  Generally, executives can see pay hikes from year-to-year to compensate for inflation. However, over the last two years’ salary growth has slowed, while bonuses in 2011 were bigger than in 2010,” Shane Phillips, Mena Regional Practice Leader, Financial & Professional Services at Stanton Chase told Emirates 24|7.

“In the last few years, fluctuations in global markets have resulted in increased migration to the UAE, particularly from the US, UK and Continental Europe, resulting in downward pressure on salaries. That said, as Dubai competes globally for the world’s top talent, strong remuneration prospects in Asia and South America will mean that companies will have to remain competitive to attract the best and brightest. I expect remuneration to trend upwards, although CEOs at large multinationals will still be subject to global company performance and potential market unpredictability,” added James Sayer, Associate Director, Robert Half UAE.

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According to Phillips of Stanton Chase, the base salary of a CEO in a Tier 1 company in Dubai could have his base salary around Dh2204006 ($600,000).

“A CEO of big MNC would earn a base salary of Dh2204006 ($600000) plus bonus, housing, car and other perks,” he said.

Figures by Charterhouse show the average base salary of a CEO in the two lucrative sectors in the country - oil & gas and construction sector - is around Dh1200000.

However, this range varies with each company and its financial situation. “This can range dramatically, as factors impacting remuneration – salary, bonus (discretionary and/or company performance based) and profit sharing – can vary based on company size and industry as well as macroeconomic factors,” explained Sayer.

Click here to find out the salary of CEOs in the country according to company size