The $220k retail banking roles for Emiratis in the UAE

Any retail banking branch manager positions in the UAE have to be filled by Emiratis and, as we’ve pointed to  previously, most national candidates end up in retail or commercial banking positions.

Compared to investment banking, where the work is competitive and the hours are long, these roles are relatively easy. And, with the sort of salaries on offer to nationals in the retail banking sector, it’s not surprising that the majority of them gravitate towards it.

Emirates 24/7 has quizzed some recruitment experts in Dubai on what sort of salaries branch managers earn in the UAE. The consensus is that, depending on the number and size of branches they manage, most people are paid AED30-40k ($8.2-10.9k) a month. Annually, this works out as AED360-480k ($98-130.6k).

It’s worth bearing in mind that a lot of Emiratis can become branch managers fairly quickly, particularly in regional organisations where fast-track training programmes are common.

Investment bankers, meanwhile, follow a rigid career path and it can be more than six years before any new recruit starts earning a salary comparable to a retail branch manager in the UAE. According to the latest salary survey by recruiters the Charterhouse Partnership, an associate in an origination position should expect AED35k a month (or AED420k/$114.3k annually).

Many would point to the large bonuses in investment banking, of course, but these have been on the decline in recent years. Branch managers, meanwhile, should expect anything from 2-8 months as a bonus – or AED80-320k ($22-87k) at the upper end of the scale.