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Oil, gas and petrochemicals

To put it crudely (pun intended), executives in the oil and gas sector are often paid very well – they may come first when it comes to excessive pay.

A survey carried out by online portal Bayt.com in December 2012 reveals that the common perception is that those in oil, gas and petrochemicals are the best paid. A majority (48 per cent) of the participants believe that this is the best paid sector in the country.

And their perception is bang on spot. “The oil & gas sector is well paying anywhere in the world. High oil prices and even higher demand has meant that high salaries are the norm,” Graham Whitworth, Senior Banking Consultant at Charterhouse Partnership said.

Besides the good base salary and yearly increments that professionals get in this sector, they are also eligible for various other benefits, including hardship allowance and hazard pay.

Banking & Finance

As in any other country of the world, those in the UAE’s investment banking and wealth management sector earn loads of money. Arguably, it isn’t an easy task to manage somebody else’s finances and one ought to be compensated dearly.

The Bayt.com survey that highlights the best paid sectors puts banking and finance second on the salary list, with 24 per cent of respondents claiming this is the best paid industry.

But tagging all areas of banking with finance as ‘obscenely paid’ would not be fair. It is primarily those in the above-mentioned areas that get the most. Whether you like it or not, wealth managers and investment bankers take home the biggest share of the pie.

According to Charterhouse Partnership, an executive search company, the head of investment banking in sales roles can take home a monthly salary of Dh140,000 without the other frills that make up the package. The ‘Organisation Head’ roles get a better deal at Dh150,000 per month. The head of Asset Management gets to take home Dh120,000.

Professionals in private banking also get plum deals. The salary band for those in this particular area of banking varies between Dh25,000 to Dh90,000 per month, the minimum being drawn by a just an average associate (read: straight out of an A-grade college).

Major airline pilots

First Officers with leading airlines in the country get both cash and non-cash elements as part of their package.

The cash element for a Captain includes a monthly salary of Dh41,240 (basic salary plus hourly flying pay based on 85 block hours per month), whereas, the First Officer is estimated to take a monthly salary of Dh29,145 (basic salary plus hourly flying pay based on 85 block hours per month).

Pilots are paid an hourly flying pay on block hours, up to a threshold of 83 to 92 hours. An additional productivity pay is paid for every block hour above the threshold of 92 hours.

Besides, airlines operate an employee profit share scheme based on the company’s performance and results. A minimum tenure serves as the qualifying period for all new employees.

The Bayt survey put this sector third on the salary ladder.

Real estate agents selling high-end homes

There is no dearth of luxury properties in Dubai and an agent’s commission on the sales proceeds can roll into hundreds of thousands of dirhams with one such deal.

Listing on http://www.luxhabitat.ae<http://www.luxhabitat.ae> shows a 5-bedroom penthouse in The Residences, Downtown Burj Khalifa is priced at Dh40 million (only). Just a 2 per cent commission on such a deal translates into Dh800,000 (yes), putting the MBAs to shame.

A survey by Macdonald & Company, a property recruitment specialist, has revealed that professionals in the industry have seen a hike of 5 per cent on the basic salary and 8 per cent more bonuses given as current average base salary in the Middle East remains in line with last year’s average.

The annual study has revealed that the average base salary of regional real estate professionals across all disciplines is Dh36,293 per month as compared to the Dh37,965 per month figure posted in 2011.


Lawyers

Lastly, it is the lawyers who make loads of money on somebody else’s misery. Not necessarily on others’ misery, but these well-educated professionals need to keep themselves up-to-date with ever-changing local and international laws.

Hays figures show a newly qualified lawyer can make between Dh30,000 and Dh40,000 per month – quite a good deal for a fresher, won’t you say?

Top class lawyers who represent large corporates or patent battles can never stop counting money. If they are the best, hundreds and thousands of dirhams would just be a peanut to crack for them.

Even though these sectors may be the top-paying ones, there are no set limitations for other industries as well. For example, a professional in healthcare or marketing could also take home a fat paycheque.

It’s very much dependent on individual circumstances.

source: http://www.emirates247.com/news/emirate ... 3-1.506204