UAE's Booming Asset Management Sector Fuels Demand for Finance and IT Roles
The UAE's asset management sector is witnessing significant growth, driven by heightened investor interest, regulatory advancements, and an increasing presence of Family Offices and Ultra High Net Worth Individuals (UHNWIs). This surge has spurred a strong demand for banking, finance, and technology roles, according to the latest UAE 2025 Salary Guides by global recruitment firm Michael Page.
Finance and Banking Professionals in High Demand
The report highlights that fundraising and institutional sales professionals are among the most sought-after candidates, with businesses valuing their industry expertise and regional networks. Compliance professionals with authorisations from the Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority (FSRA) are also in high demand. Chief Compliance Officers (CCOs) and Money Laundering Reporting Officers (MLROs) are particularly sought after due to increasing regulatory scrutiny.
Jon Ede, Regional Director UAE at Michael Page, stated, 'In 2024, the workforce grew by 9 per cent, and the number of new companies increased by 14.5 per cent. These numbers reflect the success of the UAE's strategic initiatives, solidifying its position as a top destination for businesses and talent alike.'
Salary Insights in Banking and Finance
Senior banking and finance professionals continue to command high salaries. Heads of wholesale banking can expect an average monthly salary of Dh100,000, while senior relationship managers earn approximately Dh37,000 per month.
Sales and Marketing Sector Sees Steady Growth
The UAE's sales and marketing sector is also experiencing steady expansion, particularly in B2B industries. Increased investments in technology, real estate, energy, and logistics have heightened the demand for skilled professionals in business development, key account management, and strategic sales.
Key positions in this sector include Business Development Manager, Chief Commercial Officer, and Strategic Sales Director. Country managers in the UAE can expect salaries averaging Dh48,000 per month, while key account managers earn up to Dh26,000. Meanwhile, Chief Marketing Officers (CMOs) command some of the highest pay packages, with average monthly earnings of Dh90,000.
IT Sector Witnesses Rising Demand
The UAE's digital landscape has evolved significantly in recent years, with increased demand for skilled professionals in the IT sector. The top five positions in demand include head of software development, full-stack software engineer, agile product manager, senior DevOps engineer, and digital adoption specialist.
Salaries in this field remain competitive, with a head of digital marketing earning between Dh35,000 and Dh60,000 per month.
Addressing the Skills Shortage
The report also highlights the growing skills shortage as a major challenge for businesses. According to Michael Page, 37 per cent of business leaders have struggled to find candidates with the right expertise, while nearly one in three (30 per cent) face difficulties in retaining top talent. Furthermore, 48 per cent of employers cite aligning salary expectations with candidates as a key hurdle.
Ede emphasized that offering a comprehensive package—including benefits, career development opportunities, and workplace incentives—can help businesses attract and retain top professionals in an increasingly competitive job market.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
a day ago
- Daily Tribune
Court cancels BD150,000 payout after proof of larger returns
A Bahraini investor claiming BD150,000 in unpaid returns has lost her appeal after judges found she had already received almost BD440,000 from the late businessman at the centre of the dispute. The Higher Civil Court of Appeal in Manama set aside an earlier ruling that had instructed the heirs of the entrepreneur to hand over BD150,000. Judges accepted evidence from a court accountant showing payments totalling BD440,430 reached the claimant and her mother during the entrepreneur's life. The row began in 2013, when the claimant placed BD150,000 with the businessman under her daughter's name, seeking a steady profit stream. The businessman agreed to the arrangement. After his death, the woman demanded the sum, insisting that only BD150,000 in profit had reached her.
Daily Tribune
2 days ago
- Daily Tribune
Victory for buyers : Consumers reclaim BD290,000 over past two years through complaints system
TDT | Manama The Ministry of Industry and Commerce recovered BD290,000 for consumers over the past two years, while arranging replacements worth BD75,000, according to a written reply from Minister His Excellency Abdulla bin Adel Fakhro to MP Dr Muneer Seroor. The figures cover 2023 and 2024, during which the ministry's Consumer Protection Directorate received 7,868 complaints in the first year and 7,153 in the second. A further 1,302 complaints were registered between January and March this year. Most cases concerned faulty electrical goods and vehicle-related issues. Fakhro noted that complaints fell by roughly 9 per cent in 2024. Goods and services That year, more than BD120,000 was recovered for consumers, while goods and services worth over BD45,000 were replaced. In 2023, the recovered amount exceeded BD170,000, with replacements totalling more than BD30,000. By law, the ministry has up to 60 working days to examine a complaint. However, the directorate typically contacts both the complainant and the business within three days to assess the issue and determine the next step. Working days Resolution times vary. Most complaints are dealt with within 15 working days. Around 42 per cent are completed within one week 19 per cent within eight to fifteen days 15 per cent within sixteen to thirty days 12 per cent are resolved on the same day they are received The directorate may also refer cases to the courts when necessary. In both 2023 and 2024, 212 complaints were handed to the Public Prosecution. In 2023, six shops were shut down by administrative order. Arrangements To reduce delays, the ministry signed service level agreements with eight commercial entities that frequently attract complaints. These arrangements led to a 35 per cent reduction in average handling times for those firms. As for cases that take longer, Fakhro said the directorate follows a graduated process. Staff first attempt to broker a settlement between the parties. Failing that, the matter proceeds through formal steps: an initial letter, a notice, a final warning, and then a binding decision. If the business fails to comply, the case is referred to prosecutors.
Gulf Insider
5 days ago
- Gulf Insider
UAE Central Bank Orders Halt To Minimum Balance Hike
In a major new development, the Central Bank of the UAE on Tuesday instructed all banks operating in the country to suspend planned increases to the minimum balance requirement for personal accounts, pending a formal review of the policy's impact on consumers. In a circular obtained by Emarat Al Youm, the Central Bank explicitly addressed recent reports indicating that several major banks were preparing to raise the minimum required balance from Dh3,000 to Dh5,000, starting June 1. The move, which would have subjected non-compliant customers to monthly fees of up to Dh105, had already been implemented by at least one leading institution. 'With reference to what has been circulated in the media and social platforms about some banks' intention to raise the minimum balance to Dh5,000, the Central Bank has decided to study the impact of this increase on customers,' the circular read. 'Accordingly, banks are instructed to suspend the increase and refrain from applying it until further notice.' The decision follows Emarat Al Youm's earlier report that several major banks had planned to implement the new Dh5,000 threshold starting June 1, in line with updates to Central Bank regulations. One leading bank had already enacted the change, with others expected to follow suit in the coming weeks. The announcement of the potential increase triggered widespread public criticism, with account holders voicing concern over the financial burden on lower-income residents and small businesses. Under the now-paused policy, customers who failed to maintain a Dh5,000 balance in their current accounts would have been charged a monthly fee of Dh25, unless they met certain exemption criteria. These included transferring a salary of at least Dh15,000 per month, maintaining an aggregate account balance of Dh20,000 or more, or having an active credit card, overdraft, or loan with the bank. Customers with monthly salaries below Dh5,000 and no qualifying banking products would have been automatically charged the fee, with some banks reportedly planning to increase the penalty to Dh 100 or more, depending on the account type.
