The job market in the UAE is showing promising signs of growth, with recent salary guides forecasting a rise in wages and highlighting the most sought-after roles in various sectors. Cooper Fitch predicts a 4.5% increase in salaries, with 56% of surveyed companies planning to expand their workforce in 2024. Moreover, 53% of the respondents are set to raise wages, indicating a buoyant employment landscape.
The Cooper Fitch survey also reveals a notable demand for overseas talent, as 27% of companies consider hiring from outside the UAE, addressing the top skill shortages in management, leadership, and technical fields such as artificial intelligence and software development.
In contrast, the Robert Half Salary Guide 2024 advises job seekers to navigate the market with caution. Despite ongoing hiring, many roles are replacements rather than new positions, suggesting limited opportunities for candidates. The guide emphasizes the shifting market dynamics, with job stability and career progression now outweighing salary increments as primary motivators.
Sector-specific findings include:
Finance and Accounting: High demand for middle management roles, with companies keen on retaining top talent, especially in corporate accounting.
IT and Technology: Moderate growth, with specific roles like Project Manager and Software Developers remaining in demand.
Administrative, HR, and Office Support: Focus on senior roles such as HR Director and Talent Acquisition Manager, with a shortage of candidates in specialized positions like HRIS Manager.
Legal Sector: High demand for roles like Senior Legal Associate, with skills in contract negotiation and litigation being particularly sought after.
Financial Services: Emphasis on compliance and fund management roles, with technical expertise in financial modeling and M&A experience highly valued.