UAE Job Market: Ask your Queries Here!

DxB.Raf · 08-10-2011, 05:36 PM

Hello and salaam friends,

I have been reading this forum for a long time but never registered.

I recently moved to dubai for employment purpose and got my job within a month of moving.

I am starting this thread for members who have queries regarding employment here in UAE and gulf region. All kinds of queries are welcome related to market, jobs, visa, degrees etc.

I will try to answer you guys to the best of what i know. The purpose of this thread is to provide accurate and latest information to the members.

Please keep your questions as brief as you can and avoid flaming and useless arguments. [)]

Regards
S

wicky · 08-10-2011, 05:43 PM

its nice 2 c that u got ur job within month. gud luck

can u plz tell me what r the job opps. 4 aca or aca finalist in uae and what abt the pay per month in uae.

well i do c loads of job in uae on respective job site for middle east.

thx

DxB.Raf · 08-10-2011, 05:54 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by wicky
 its nice 2 c that u got ur job within month. gud luck

can u plz tell me what r the job opps. 4 aca or aca finalist in uae and what abt the pay per month in uae.

well i do c loads of job in uae on respective job site for middle east.

thx

<hr height="1" noshade id="quote"></blockquote id="quote">
Thank you for your wishes.

Job market here is bad in a different sense. Let me tell you there are good jobs here in our field in UAE. Those online job sites work too. However, the supply of finance professionals have touched skies in recent times. Finance pros from every nationality has poured into UAE for jobs. Result is fierce competition and lower salaries.

A qualified (Any qualification) with 3.5 years of articles from big4 can get roughly 7-12k depending upon quality of experience, interview performance, job nature and company size.

Having multiple qualifications DO NOT HELP in any way. A combo of bachelors/masters with a qualification is considered MORE than sufficient by employers as far as education requirement is concerned. It is the quality of experience that would talk for you.

Part qualifieds are not considered anymore since there will be qualified pros applying for that position too.

hope it helps
Regards,
S

wicky · 08-10-2011, 07:11 PM

thx 4 ur reply.

tell me one thing more. u said taht job sites do work. it means we also have 2 c ads in newspapers?

and wat abt u? r u an aca or acca etc?

thx

DxB.Raf · 08-11-2011, 03:29 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by wicky
 thx 4 ur reply.

tell me one thing more. u said taht job sites do work. it means we also have 2 c ads in newspapers?

and wat abt u? r u an aca or acca etc?

thx
<hr height="1" noshade id="quote"></blockquote id="quote">
The only way to job hunt is to use online job sites. These include gulftalent, monster, gulfnews etc. Companies do not appreciate walk in cv drops anymore. Now its mostly online.

I am an ACCA and CIA doin CIMA even though my CFO advised me otherwise. I believe this will be my last qualification. I am not going to gain any sepcific career advantage out of it, but doing it just for the sake of it.

Regards,
S

wicky · 08-11-2011, 07:43 PM

thx 4 ur eplies.

tell me one thing more. its abt medical facility or u can say medical charges in uae.

is it covered by the employer i.e medical facility by employer or its up 2 the employee ?

thx

DxB.Raf · 08-14-2011, 03:28 PM

As Per Labour Law of UAE, medical is to be covered by the employer. Some employers also cover medical for the family (wife,children) depending on the level of the job.

ali_ravians · 08-15-2011, 03:02 AM

I've been looking for job here for almost 45 days but no luck
I am acca affiliate with 1.5 years experience ...
how much salary you earning from ur current job !!

DxB.Raf · 08-15-2011, 07:07 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by ali_ravians
 I've been looking for job here for almost 45 days but no luck
I am acca affiliate with 1.5 years experience ...
how much salary you earning from ur current job !!
<hr height="1" noshade id="quote"></blockquote id="quote">

How many interviews you attended in 45 days. How do you apply? Do you speak fluent and confidently during interviews?

Atleast 3 years of experience is required, from what i have seen. Also the experience should be quality one liek from big4 on MNC. If you hav experience from a local Pakistani employer, its another problems besides you have less experience.

I can't disclose my salary sorry.

Analyst415 · 08-18-2011, 05:02 AM

Hi DXB. This is ACCA member and CFA level 2 candidate.
Currently i am working in Saudi Arabia in one of the world's Largest FMCG. I have 2 years of Saudi Arabia Experience and 5 years of Pakistan experience. I Completed my ACCA in 2009. Currently I am thinking seriously to move to UAE as with my current employer qualification does not matter much and every person will grow with same pace. Which I feel is too slow for me.
It would be appreciated if you can tell me the job potential in UAE for me and what package I can get if I visit in Jan 2012.

DxB.Raf · 08-21-2011, 06:42 PM

@Analyst.
You seem to have good qualifications and solid experience to back you up. Coupled with excellent soft skills and a professional cv, you may be able to find a job between 15k-25k depending on various factors. I feel you can visit for job hunting in 2012.

Growth in industry has become slow every where. People hardly get promotion based on qualifications and passes anymore. It is only true for Trainees. Companies usualy promote based on number of total experience and number of experience in the company itself and work performance specially in dxb.

Normally there is better chances of growth with MNCs. I am currently working for a local company in dubai and plan to move to a MNC later on as rules allow. As per labour law one should spend atleast 2 years on a job before switching.

Also keep in mind that living in dubai is an incentive in itself. You will always get around 10-15% less salary as compared to other gulf states. It is also important for everyone to understand that DUBAI experience is considered more or less equivalent to "western"experience specially in a MNC. So this a non-tangible benefit to consider along with tangible benefits like salary.

Regarding CFA, i beleive there is no sepecific job title that says CFA is a MUST unlike accountancy and audit where CA,ACCA,CIMA,CPA designations are speificially required. CFA is mostly preferable in very few roles not a MUST.

It is a new qualification that has become famous in the past few years. Tradionally CFA type jobs such as analysts, fund managers, treausry, investment banking related roles have been filled by Accountants and MBAs. It will take some time before CFA creates a specific job market for itself. It has already established itself as prestigious designation but a job market is yet to develop. Comapre to CFA, CIA has a much more developed job market specially in gulf and western regions.

CFA will hardly give you a premium at the moment but you can count on it as you move up the ladder. Here you need to make a decision whether you want to stay in FINANCE (ACCA) or go into treasury/analyst roles (CFA). Both are completely different. You will never prepare financials in a CFA specific role and you will never make investment decisions in a finance role.

Personally, ACCA would give you acess to both field but at the end of the day you have to choose one.

Analyst415 · 08-23-2011, 04:11 AM

Thanks for your detailed reply. Actually my problem is that I have my all experience in industry on the base of ACCA. But I started CFA because of my interest in equity analysis. But now the problem is that if I start again my career in equity research I need to go from start again which is not acceptable for me. I am already 29 year old and I need handsome amount for fulfillment of my commitments. So I would rather to go for industry on the base of ACCA. But on the other hand if I get a good opportunity in financial institution I would prefer to go for that.
If I travel Dubai how many days do you think can be enough for getting a opportunity, and also give me an idea regarding a total expenses.

Thanks for your reply in advance.

DxB.Raf · 08-23-2011, 06:09 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Analyst415
 Thanks for your detailed reply. Actually my problem is that I have my all experience in industry on the base of ACCA. But I started CFA because of my interest in equity analysis. But now the problem is that if I start again my career in equity research I need to go from start again which is not acceptable for me. I am already 29 year old and I need handsome amount for fulfillment of my commitments. So I would rather to go for industry on the base of ACCA. But on the other hand if I get a good opportunity in financial institution I would prefer to go for that.
If I travel Dubai how many days do you think can be enough for getting a opportunity, and also give me an idea regarding a total expenses.

Thanks for your reply in advance.

<hr height="1" noshade id="quote"></blockquote id="quote">

I must say if i was in your shoes i would not switch fields at this stage. You can finish your CFA of course but career wise stay with ACCA and build on experience you have already gained.Once you reach very senior level designation, you might be able to switch based on your status. Its your personal decision and i hope you take a wise one.

The market is OK here. It is not bad at all. Finance jobs are advertised on daily basis and crisis hit industries like construction and banks have also revived to some extent. However, problem is with the salaries. Pay scales have gone down significantly specially in industry if not in Big4s. That is because of the crazy supply of finance professionals from aroudn the world. By latest reports companies have been interviewing 10-20 candidates for a job and receiving 100s of cvs. During this meyhem many relvant job applications are being ignored because they are filtered in the short listing process which is quick and ineffective. Agencies and companies as well are using KEYWORD search tactics. If your cv does not hit the require number of minimum keywords in the search it will never be viewed, let alone being short listed. ALL BIG companies and recruitment agenecies are using these techniques.

Regarding the number of days, i always recommend the Long-term 3 months visit visa. People normally visit for a month. The problem is that the first 2 weeks of the month is normally utilized sending tons n tons of CVs online. You will hardly get any response in the first 2 weeks. Normal response time is 14 WORKING DAYS. Interviews, assessment and tests could take more than 20 days to a month before a formal offer is extended to you. So one month is never enough. On the other hand luck can play its role and you might land a job in a week. But the possibility of this happening is less than 10% and is applicable to urgent positions which are few. A good company will never compromise on its evalutation proceedures. Employment visa could take a extra week (4-7 working days). This means that you must have your interviews already lined up if you are coming for a month which i don't think is your case.

My suggestion is you take atleast 2 months leave from work if its possible for you. If it has to be one month then you can try. There is no hard and fast rule that one could not get a job in a month.

If you travel through Emirates/Etihad/Air Arabia/Fly Dubai, they will provide you with the 3 months visa and return ticket which costs around 1600visa+1200ticket AED. They may also require a bank gauarantee of some amount as security deposit. If you have a relative/friend over here, he can apply for your visit directly for 200 AED with a security deposit of 2000 AED. The ticket costs 1200 AED average. Air Arabia is cheaper around 1100 i think, as you will have to purchase food on plane. So through agency its 1600+1200 and through relative/friend it is 200+1200 plus the security deposit which is refundable.

Accomodation in dubai can cost you 500-1000 per month in sharing. You will have to arrange this before arriving. If you plan to use motels then it could be around 75-120 per day. I am not sure about hotel/motel rates. Confirm this from other sources.

Food and taxi is 1200-1500 per month. Depending on how much you travel and eat. If you strect yourself to the limits 1000 is bare minimum.

You can get a sim card for cheap 30-50 AED. I am not sure if you can buy sim on visit. Making calls is very cheap. Internet cafe costs 10/hour.

Do not go for walk in cv drop. Employers only prefer online applications now.

Thats all i guess. Hope it helps.

wicky · 08-24-2011, 05:45 PM

hi

can u pl;z also tell that what should be style of CV for job seekers?

is it like here pak or any further changes needed for it?
thx

Analyst415 · 08-25-2011, 03:50 AM

@DxB Thanks for your detailed reply