Know Your Worth series: Finance and Accounting salaries in UAE

Are you looking for a job in accounting and finance in the UAE?

Do you want a salary comparison, or negotiate a pay rise or simply want to ensure you're being paid fairly?

Read the Emirates 24|7 salary survey for the most popular jobs in the sector and know how much you’re worth.

The increase in economic optimism is clearly showing through the number of jobs being created and advertised in the accounting and finance function in the UAE.

However, recruitment activity is still to reach the pre-slowdown levels.

If you’re a professional in accounting and finance, you will likely be in demand this year but this too may vary according to the industry.

Experts do not see any significant changes from last year in terms of salaries and job growth.

Click here for accounts salaries as per Bayt

Click here for accounts salaries as per Gulf Recruitment

Click here for accounts salaries as per Charterhouse

Click here for accounts salaries as per Robert Half

“In terms of growth prospects in the field of accountancy and finance, we perceive the market as being very similar to last year and so, generally steady.

“In commerce, which is a very diverse sector, we expect to see ourselves recruiting for more companies that are still in high demand within the region such as FMCG and Pharmaceuticals. Government infrastructure spend is likely to continue this will hopefully result in a steady flow of finance positions.

“The Financial Services sector is quite difficult to predict, retail banking in particular the international banks may see a number of redundancies in the short-term in a bid to consolidate to a stronger position.

“We expect the local banks to launch a number of new Islamic products, which we believe will ensure steady growth in the market,” Steve Freed, Director, The Gulf Recruitment Group told Emirates 24|7.

The last Monster Employment Index (released in in December 2011) shows finance and accounts as one of the top growth occupation in the country and the region at large.

As per a recent global survey by recruitment firm, Robert Half International, 72 per cent of Dubai CFOs are planning to increase their permanent finance and accounting headcount and 3 per cent expect declines – a net increase of 69 per cent.

Rising workloads and mergers and acquisitions were the primary reasons cited for adding staff.

James Sayer, associate director, Robert Half UAE said: “Confidence levels are high amongst executives who are looking for highly strategic and commercially-focused professionals to help leverage business growth opportunities.

“Workloads persist and additional M&A activity is resulting in increased demand for skilled finance professionals. Unfortunately, demand outweighs supply and CFOs are reporting difficulties in sourcing the talent they require, particularly in the finance and compliance functions.

“Executives are therefore conscious about re-recruiting top performers to ensure they have the required resources to achieve targeted growth prospects throughout the year.”

Overall, average base salaries across the sector have not swung either way if compared with last year.

A quick comparison of the salaries in 2012 (provided by Charter House) with last year show that pay scales have remained stable with a few jobs seeing a salary hike whereas some being on the decline.