Learn the CFA Salary trend in Dubai for 2022

On the employment front in Dubai, we have some good news! Businesses in Dubai are once again hiring, and this time they’re looking for the best available talent. You can be certain of getting a position in a top company that is close to ideal if you are someone on their priority list. No problem if you don’t currently possess the training or experience necessary to land a nice job in Dubai.

List of Contents

Introduction

You have the golden chance to stand out in the competitive Dubai financial job market. We’ll explain how to do it. You can establish yourself as a skilled Chartered Financial Analyst regardless of your level of experience in the industry or whether you are a recent finance graduate.

The career growth and compensation package are the two benefits of being a CFA that stand out the most. It is the ideal time to become a CFA if you are just beginning your career or making a wise career move. And Dubai might be the place that puts your career on the right course. Now, getting that dream job in Dubai doesn’t seem so impossible.

Is it simple to find work in Dubai?

Definitely not for applicants who lack professional credentials or fundamental subject knowledge. Finding work in Dubai is not difficult if you can highlight a highly sought-after certification supported by practical experience and industry-relevant skills.

Of course, hiring a local candidate will be less expensive than doing so for an international candidate. Businesses today, however, are constantly looking for candidates with exceptional knowledge and universal certification. Getting a job in Dubai will undoubtedly increase your pay and greatly improve your resume.

The advantages of working in Dubai greatly outweigh any potential drawbacks. You will undoubtedly benefit from a tax-free salary, gain international exposure, work in a market that is expanding, experience higher living standards, and advance your career.

How is Dubai’s job market for finance workers?

In contrast to many other nations, Dubai has a thriving economy. After the pandemic, the UAE job market, and Dubai in particular, is showing signs of a strong recovery in terms of employment and pay. 

The increase in hiring activity can be partially attributed to their need for talented, seasoned professionals who can positively influence their long-term growth plans. 

What are the benefits of earning a CFA certificate?

A CFA certification practically serves as a passport that allows you to work anywhere in the world. It is a certification that is widely recognized that will help you get ready for the dynamic financial and investing sector. It gives you the knowledge and expertise in investment analysis that you need to advance in your chosen field.

  • CFA is acknowledged in more than 165 nations. You can work in the other hundred or so countries after receiving your certification or charter in one of them.
  • You gain an advantage and a benchmark in renowned investment firms.
  • Those with a CFA certification have a wide range of career options.
  • Exploring your career options and climbing the career ladder become much simpler.
  • It increases the likelihood of landing a job in the cutthroat investing, banking, and wealth planning industries.
  • Compared to those without the certification, you can benefit from a better compensation package.

Skills required for a CFA position.

Companies looking to hire CFAs typically look for candidates with exceptional skills and unmatched subject knowledge. Undoubtedly, the course will cover the majority of the skills required for a CFA position.

  • Quantitative methods.
  • Equity investments.
  • Corporate finance.
  • Portfolio management.
  • Financial reporting and analysis.
  • Professional standards and ethics.
  • Derivatives and more.

What CFA in Dubai Salary and Career Growth Can I Afford?

One of the most popular career destinations for candidates worldwide is Dubai. Tax-free salaries, extensive global exposure, and competitive compensation packages are the main factors that make Dubai superior to other nations.

However, you undoubtedly want to know the precise CFA salary in Dubai and career advancement can expect.

You can expect to earn an average pay of between 1,00,000 (INR 21,60,556) and 1,20,000 AED (INR 25,92,667) per year as a beginning CFA (with roughly 1-3 years of experience to show off). On the upper end of the pay scale, a senior management Chartered Financial Analyst can make between 3,80,000 (INR 82,10,114) and 3,90,000 (INR 84,26,170) AED per year. This gross pay is roughly three to four percentage points higher than the UAE average.

According to some reports, the anticipated salary increase over the following five years could even range from 20 to 25 percent.

Of course, the company and qualifications have an impact on pay and career advancement. Additionally, each job profile has a unique CFA salary in Dubai range. For instance, a portfolio manager might be paid more than a senior financial analyst or research analyst.

You should be aware that your CFA salary in Dubai will also be determined by the company for which you work. The Big Four will pay you well, closely followed by other top companies.

CFA salary in Dubai by Industry

In the end, the majority of the common analyst-related industries offer salaries that are somewhat comparable to the 3,15,881 AED (INR 68,22,938) annual average for CFA charterholders. Unexpectedly banking and insurance are at the top of this list, but it’s possible that this is because chartered analysts in these sectors typically have more experience than those in, say, asset management. 

If we take a look at the median salaries across all industries (not just CFA charterholders), we can see that the average employee in banking and insurance is paid less than those in all but wealth management.

This might be because these industries have more entry-level and administrative workers than the other industries on the list. Employees in wealth management and investment services make median salaries that are considerably less than those in financial services and asset management. When only employees who hold a CFA charter are included, this difference essentially stays the same.

Employees in all financial industries tend to be compensated fairly at the mid-career stage (5–10 years of experience), at least in terms of percentage of prior CFA salary in Dubai. All CFA charterholders, who are technically still considered entry-level, are, of course, on the verge of moving into the mid-career stage. A CFA designation really pays off as employees enter the experienced stage of their careers (10–20 years of experience). 

The CFA charter keeps paying off even as workers enter their later careers. In these later stages, the typical finance MBA generates a respectable salary increase, but it falls short of the CFA designation’s value. However, it’s likely that finance MBAs from top schools outperform CFA charterholders.

Comparing CFA salary in Dubai increases based on an employee’s skill set is another intriguing way to investigate the CFA designation advantage. It’s important to note that respondents only list the top three skills they believe they possess. The average salary increase for CFA charterholders is close to 20% when we divide the salaries by skill set.

It’s not clear what’s ultimately driving them. Microsoft Excel proficiency may simply be the result of the employees listing Excel as one of their top three skills, having a significantly lower starting salary (pre-CFA) than any other of the most popular finance-related skills.

The skill’s importance in other, lower-paying industries may be primarily to blame for the significant increase in research analysis salaries. We won’t speculate on why certain abilities, such as financial modeling and forecasting, perform poorly in this situation, but we will say that you shouldn’t be overly disheartened if you think that these abilities are some of your most valuable qualities.

Before continuing, let’s look at how the skills compare after the raises associated with the CFA designation are taken into account.

Unsurprisingly, CFA charterholders with more beginner-level skills in data analysis, financial reporting, and Microsoft Excel (hey, that’s what I’m proficient at!) tend to get paid significantly less than those with more powerful skill sets related to more years of experience like portfolio management, risk management, and investment management.

Salaries by Degree

Because Payscale does not break down the median salaries for those with a CFA designation by degree, we had to adopt a slightly different strategy for this breakdown. Instead, only the income distribution between the bottom 10% of earners and the top 10% of earners is given. 

Therefore, we will contrast these ranges for CFA charterholders with all degree-holding graduates. In this instance, those who went on to earn a higher degree are not included in the pay for those with a bachelor’s degree.

Generally speaking, charter holders make a lot more money than the average member of their class. The CFA charterholders have at least four years of experience, and they are also being compared to graduates entering lower-paying industries, so as with our other “raise” calculations, we’re not comparing apples to apples.

Despite the lack of precision in this instance, it is clear that a CFA designation is extremely valuable regardless of the degree held. Given the relatively low starting point, it is somewhat predictable that the payoff is greatest for bachelor in arts graduates. 

However, in the bottom and top deciles, CFA charterholders with a BA are paid marginally more than those with a BS or BBA. The CFA charter provided the least benefit to finance MBAs, but they still made significantly more money than charter holders without a graduate degree.

How Does Job Security With A CFA Certification In Dubai?

CFA equips candidates with the necessary skills and subject knowledge to help them land jobs. The CFA program aims to improve applicants’ understanding of the fundamentals of asset valuation, investment instruments, financial planning and management, and portfolio management.

Businesses in Dubai are in great need of qualified and certified CFAs due to the city’s employment boom. The majority of businesses look abroad for candidates who meet their hiring criteria because there is a talent shortage in their own country.

The majority of positions available for financial experts are in investments, banking, equity, portfolio and fund management, and credit analysis, according to a cursory search of any job portal serving the Dubai market. When submitting applications for these positions, a CFA certification will be helpful.

You don’t have to be tense about job security or career growth because top companies prefer CFAs. One of the most sought-after positions in Dubai is in finance, and the variety of profiles provides you with the assurance you need.

Additionally, if you keep enhancing the value of your resume, developing your abilities, and honing your subject knowledge, you will soon be able to position yourself as a valuable resource.

Conclusion

What are the main lessons to be learned from this post, considering how much time was spent questioning the accuracy and relevance of the data? As chartered members advance later in their careers, it is largely evident from the job type and industry experience breakdowns that the CFA designation continues to be valuable. In actuality, having a CFA charter tends to be most valuable as your experience level increases. 

A CFA charter holder typically makes more money than a worker with a finance MBA. Finally, the advantages of having a CFA designation persisted regardless of the top abilities analysts possessed or the level of education they had.

When comparing the potential careers with and without a CFA designation, it is obvious that the typical CFA Program applicant will probably receive a good return on their time and money investment. That is, even if they had to retake each exam three times if they intended to work in a related field for around ten years after receiving their charter. 

Naturally, it should not be a surprise that we are optimistic about the advantages of a CFA charter. After all, the majority of CFA Program applicants don’t want to be told that their efforts were in vain.

In conclusion, if there is one thing that candidates for the CFA Program should remember from this article, it is to keep studying (or start studying) because it will probably be worthwhile!

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Shivangi Shrivastava

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