A new report by RASD, a GCC executive search company indicated that senior executives notably CEOs working in the Gulf construction industry could command earnings of up to $1.2 m per annum.
The report maintains also that on average, salaries across most sectors have risen by 7% whilst that of the CEO’s went up by 39 in certain other sectors especially those of the construction industry.
The research leading to the report found that UAE’s were the third highest salaried executives behind those of Saudi Arabia and Qatar. It is well known that as put by a partner of RASD as :
“The construction industry and the real estate industry experienced exponential growth last year, especially in Dubai, Saudi Arabia and Qatar. With multiple hitting the ground” projects.”
This partner at RASD, Mohamed Al Turk, adds :
“Top level executives within these sectors are now in a position to reap the benefits of this momentum, companies too stand to benefit as these talented executive are capable to add value in terms of leading organisational development and augmenting income and profits”.
If the different sectors are taken into consideration, RASD found that behind the construction industry salary levels are those of the banking sector that are themselves followed by the real estate, retail and automobile sectors and that Saudi Arabia and Qatar are amongst the highest purveyors of positions for the highest salaries. However, the UAE scores higher in terms of influx of international candidates; RASD pointing out that Arabic language and cultural background and skills are more and more sought after for CEO / client facing level posts. This trend is believed to be gathering pace all across the Gulf countries at the exception of Dubai due mainly to its specific cosmopolitan population mix.