Revealed: The best paying jobs in the UAE

The salary of a profession is among the most compelling factors for many individuals deciding what career path to follow.

Of course, the top 5 per cent in each industry will be paid handsomely, but on an average, there are some sectors which tend to beat others when it comes to pay packets.

Emirates 24|7 finds out which are the best paying jobs in the UAE.

According to Suhail Masri, VP of Sales at Bayt.com, “Some of the highest average salaries in the UAE are for investment bankers, doctors and corporate lawyers.”

“[However], salaries vary to large extents for any given specific role and will depend on a professional’s career level, type of experience and level of expertise as well as on company size, company performance, general company pay practices and industry,” he added.

Shane Phillips, Mena Regional Practice Leader, Financial & Professional Services at Stanton Chase, believes that one has to “look at each position in the context of the current economic environment.”

“Stability is becoming much more of a factor in today’s environment with so many layoffs, re-structuring, and divestments taking place.

Click here to read the pay package of most popular jobs

“So, my prediction for the next five years is that the Middle Office of any organisation will provide the highest market equity growth, the greatest stability and the most room for advancement. 

“For example, today the role of the Chief Information Officer is ten-fold when compared what it was a decade ago.  IT is now a central part of any strategy discussion and a key driver of top line sales.

“The risk function has grown astronomically and new law in the UK and US require banks to have separate Risk Committees at the board level. 

“So, these roles continue to widen and deepen while front office and extreme back office roles get cut, or are even becoming obsolete.”

Citing the example of Citibank, which has a ‘smart branch’ with no people in it in Tokyo, he added: “These are jobs which are leaving and not coming back again.

“While some of these front line jobs are evaporating into thin air, you can imagine the value the IT team that put the Smart Branch together now has in the market.

“So, we are seeing some fundamental shifts in the job market and Middle Office or Shared Services execs will benefit the most of these changes.

“The best example is when Steve Jobs stepped down from Apple, his COO took over as CEO, whereas in the 60s and 70s it would have been your CFO. 

“So the Shared Services of organisations which includes, IT, HR, Operations, Legal, Compliance, Risk, etc, are all high growth areas and good places to be right now.”

According to Konstantina Sakellariou, Partner, Marketing & Operations Director at Stanton Chase, “The successful investment bankers are the most highly paid, as all other positions seem lower compared to them. 

“IT professionals at top level are also well paid, but it depends on the company and the specialisation.”

However, she believes it is difficult to categorise correctly as different jobs place an individual differently in a company/firm.

“For instance, there is very high demand for specialised legal expertise, especially by the governmental organisations, that will have to pay handsomely to attract the needed seniority and expertise. 

“In most cases, experienced lawyers are partners in a firm, which gives them additional advantages than just being employees,” she explains.

[Image via Shutterstock]

Click here to read:

Reasons top talent in UAE quit their jobs

Click here to read :

Education
and healthcare lead jobs growth in February

 

Print Email