JobXDubai

Financial Services Salaries in Dubai/UAE for 2024

Vadim Kouznetsov
3–5 minutes

The financial services sector in Dubai and the UAE has seen a moderate average salary increase of 1.2% in 2024. While salaries in private equity and governance have remained relatively stable, there has been a notable 4.0% increase in global markets. International businesses are focusing on relocating senior employees to the UAE, offering profit-sharing opportunities and attracting brokers and private bankers with the allure of tax-free income.

Salary Overview:

  • Average salary increase: +1.2%
  • Private equity: No change
  • Governance and compliance: -0.1%
  • Finance and accounting: No change
  • Global markets: +4.0%

Most In-Demand Roles:

  1. Compliance Manager
  2. Fund Accountant
  3. Finance Manager
  4. Relationship Manager (AM and private banking)
  5. Brokers

In-Demand Technical Skills:

  1. ACAMS (compliance)
  2. ACCA (accountancy)
  3. Financial modeling
  4. Fund performance analysis
  5. M&A experience

Key Survey Insights:

  • Shift in Investment Approach Drives Headcount Growth:
    • Family and government offices focusing on investments, particularly sovereign and private wealth funds, are thriving.
    • The shift from capital markets to private equity has increased demand for investment managers, analysts, accountants, and senior reporting managers.
  • Salary Increases Limited but Profit-Sharing Gains Traction:
    • Competitive markets among corporate service providers are causing salary spikes in compliance and accountancy roles.
    • Many businesses are offering profit-sharing opportunities instead of salary increases, though some are losing talent to Saudi Arabia.
  • Brokers Relocating to Dubai Creating New Roles:
    • Financial and institutional brokers are moving to Dubai to serve clients in Europe while benefiting from tax-free income, boosting demand for back-office functions.
    • The demand for relationship managers is high, but they are challenging to find as they need to establish new client books.

In summary, the financial services sector in Dubai/UAE offers moderate salary increases with significant opportunities for brokers and private bankers. The focus on profit-sharing and the shift in investment strategies are shaping the market. Businesses need to offer competitive packages and profit-sharing opportunities to attract and retain top talent in this dynamic sector.

Financial Services Salaries in Dubai/UAE – 2024

Below is a comprehensive salary guide for various roles in the Financial Services sector in Dubai/UAE for 2024. This guide covers private equity and asset management, governance, risk and compliance, finance and accounting, and global markets roles. All salaries are listed in USD and AED.

Index

Private Equity and Asset Management

Director

  • Lower Range: $210,000 (AED 771,300)
  • Mid Range: $258,250 (AED 948,827)
  • Higher End: $292,000 (AED 1,073,640)

Vice President

  • Lower Range: $135,000 (AED 496,950)
  • Mid Range: $154,000 (AED 566,380)
  • Higher End: $192,750 (AED 709,147)

Senior Associate

  • Lower Range: $108,000 (AED 397,560)
  • Mid Range: $131,000 (AED 482,770)
  • Higher End: $154,250 (AED 568,107)

Associate

  • Lower Range: $84,750 (AED 312,842)
  • Mid Range: $100,250 (AED 370,918)
  • Higher End: $115,500 (AED 427,485)

Analyst

  • Lower Range: $69,250 (AED 255,222)
  • Mid Range: $84,000 (AED 309,480)
  • Higher End: $96,500 (AED 355,855)

Governance, Risk, and Compliance

Head of Compliance

  • Lower Range: $192,750 (AED 709,147)
  • Mid Range: $211,750 (AED 778,122)
  • Higher End: $250,500 (AED 920,335)

Compliance Manager & MLRO

  • Lower Range: $135,000 (AED 496,950)
  • Mid Range: $173,250 (AED 637,828)
  • Higher End: $211,750 (AED 778,122)

Compliance Officer (Onshore)

  • Lower Range: $69,250 (AED 255,222)
  • Mid Range: $84,750 (AED 312,622)
  • Higher End: $96,250 (AED 353,162)

Compliance Officer (Offshore)

  • Lower Range: $88,750 (AED 325,622)
  • Mid Range: $104,000 (AED 381,680)
  • Higher End: $115,500 (AED 424,785)

Anti-Money Laundering Specialist

  • Lower Range: $61,750 (AED 226,622)
  • Mid Range: $73,250 (AED 268,827)
  • Higher End: $84,750 (AED 311,122)

KYC/CDD Manager

  • Lower Range: $77,000 (AED 282,590)
  • Mid Range: $84,750 (AED 310,322)
  • Higher End: $95,750 (AED 351,922)

KYC/CDD Officer

  • Lower Range: $53,750 (AED 197,292)
  • Mid Range: $61,750 (AED 226,622)
  • Higher End: $69,250 (AED 253,222)

Credit Risk Manager

  • Lower Range: $135,000 (AED 496,950)
  • Mid Range: $154,000 (AED 566,380)
  • Higher End: $192,750 (AED 709,147)

Operational Risk Manager

  • Lower Range: $115,500 (AED 424,785)
  • Mid Range: $135,000 (AED 496,950)
  • Higher End: $154,000 (AED 566,380)

Risk Analyst

  • Lower Range: $96,250 (AED 353,162)
  • Mid Range: $104,000 (AED 381,680)
  • Higher End: $123,250 (AED 452,587)

Chief Risk Officer

  • Lower Range: $250,000 (AED 917,500)
  • Mid Range: $300,000 (AED 1,101,000)
  • Higher End: $335,000 (AED 1,229,500)

Head of Risk Management

  • Lower Range: $231,250 (AED 849,687)
  • Mid Range: $269,750 (AED 990,387)
  • Higher End: $308,000 (AED 1,129,360)

Finance and Accounting

Chief Financial Officer

  • Lower Range: $206,750 (AED 759,822)
  • Mid Range: $258,250 (AED 948,827)
  • Higher End: $340,250 (AED 1,249,717)

Finance Director

  • Lower Range: $173,250 (AED 636,828)
  • Mid Range: $199,500 (AED 732,615)
  • Higher End: $258,250 (AED 948,827)

Financial Controller

  • Lower Range: $93,500 (AED 343,145)
  • Mid Range: $97,750 (AED 358,218)
  • Higher End: $130,750 (AED 479,852)

Global Markets (FX, Equities & FICC)

Head of Trading/Portfolio Management

  • Lower Range: $220,000 (AED 808,740)
  • Mid Range: $300,000 (AED 1,101,000)
  • Higher End: $330,000 (AED 1,211,100)

Senior Portfolio Manager

  • Lower Range: $120,000 (AED 441,200)
  • Mid Range: $130,000 (AED 477,300)
  • Higher End: $150,000 (AED 550,500)

Portfolio Manager

  • Lower Range: $100,000 (AED 367,000)
  • Mid Range: $120,000 (AED 440,400)
  • Higher End: $130,000 (AED 477,300)

Analyst (Global Markets)

  • Lower Range: $70,000 (AED 256,900)
  • Mid Range: $75,000 (AED 275,250)
  • Higher End: $85,000 (AED 311,350)

Head of FX Sales

  • Lower Range: $220,000 (AED 808,740)
  • Mid Range: $300,000 (AED 1,101,000)
  • Higher End: $330,000 (AED 1,211,100)

FX Broker

  • Lower Range: $100,000 (AED 367,000)
  • Mid Range: $120,000 (AED 440,400)
  • Higher End: $130,000 (AED 477,300)

FX Sales Manager

  • Lower Range: $200,000 (AED 734,000)
  • Mid Range: $240,000 (AED 880,800)
  • Higher End: $270,000 (AED 990,900)

FX Sales

  • Lower Range: $120,000 (AED 440,400)
  • Mid Range: $130,000 (AED 477,300)
  • Higher End: $150,000 (AED 550,500)