Cobalt’s 2016 MENA Financial Services Salary and Bonus Survey was compiled from our clients and candidates and we canvassed the opinions of Analysts, AVPs, Directors through to CFOs and CEOs.
How does your salary & bonus measure up?
Some of the highlights include:
- 20% of Banking & Financial Services professionals expect no salary increase this year. This is an increase on last year where only 10% expected their salary to remain flat.
- 80% of individuals receive 100% cash bonuses as opposed to the more structured, deferred and stock/option based bonuses
James Collin – General Manager at Cobalt, comments:
"2016 is undeniably set to be a challenging year within the Financial Services sector with lower levels of growth expected than in 2015 – a year that saw many Banks post record profits. In many ways 2016 can be seen as a building year with Banks and Investors needing to diversify away from perhaps more traditional sources of revenue and into new markets, as well as the rise of FinTech increasing pressure on every Bank to create digital platforms. Our Bonus survey for 2016 shows how most UAE bankers expectations' are lower than last year with regards to bonus and salary increases. That said growth is still expected and in the UAE, bonuses still outweigh most other Financial markets with 80% of UAE Banking professionals receiving 100% cash bonuses, and plenty of key developments still to occur within Banking & FS in 2016-2017."
Contact the Banking & Financial Services team today on +971 47 046 106 to arrange a meeting to discuss your resourcing requirements or the current roles available.