Average Salary For Finance Manager In Dubai
Average Salary For Finance Manager In Dubai - If you're wondering what the average salary is in Dubai or how much it costs to outsource staff in the city, we've got you covered.
In 2021, the average salary in Dubai is around AED 21,500 (United Arab Emirates Dirham) per month. At July 2021 rates, that's $5,853.54 per month.
Average Salary For Finance Manager In Dubai
Although this figure is quite high, the average salary in Dubai is significantly lower than in developed countries such as the US ($7,900) and the UK ($8,163). This is why outsourcing to Dubai can be the right move for businesses looking to expand.
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In this article, we take an in-depth look at the average salary in Dubai, the city's minimum wage and cost of living.
The average salary in Dubai is AED 2,58,000 per year ($70,280 at 2021 exchange rates).
However, to give you a clearer picture, we also present additional salary information, including the average salary and average salary range in Dubai:
What is described in the article is only a guideline. Individual salaries may vary based on education, experience, location and position.
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This means that half of Dubai's population earns less than AED 21,500 and the other half earns more than AED 21,500.
Let's say Employee A earns AED 10,000, Employee B earns AED 20,000 and Employee C earns AED 40,000.
The average salary is the sum of all salaries divided by the number of people – here AED 23,333. On the other hand, the median salary is the middle value among all salaries. This average salary is AED 20,000.
Dubai has a good average salary range, with monthly salaries ranging from AED 4,810 ($1,309.56) to AED 99,000 ($26,953.44).
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The average salary range only considers salary that falls between the average minimum wage and the average maximum salary in Dubai.
Because of this, the actual minimum wage is much lower. Likewise, the highest paying job in Dubai pays more than the given number.
Average Salary, Median Salary and Average Salary Range help you understand Dubai's economy, salary expectations and more.
Annual salary increases are an important part of every salary structure in the world. Dubai is no different.
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Salary Explorer averages an 8% salary increase every 17 months in the United Arab Emirates (UAE). The global average is 3% every 16 months.
A region's minimum wage is legally binding and defines the minimum base wage that all employees in that region must pay.
The UAE Federal Labor Law does not contain minimum wage provisions. This means that unlike most cities, there is no fixed basic salary for employees in the Emirate of Dubai.
However, in 2013, the UAE Ministry of Labor approved a minimum wage for certain categories of workers. These salaries are not universally applicable to all employees in Dubai and are therefore not equal to the minimum wage.
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While it's easy to determine the median income in any country, what you actually pay an employee depends on a number of variables.
Salaries in Dubai vary across major industries such as finance, medicine, energy and more. However, even within these industries, salaries vary for different jobs.
The United Arab Emirates is part of the Gulf Cooperation Council (GCC), a political and economic alliance of six Middle Eastern countries. The economy of the UAE is particularly competitive as it has the second largest GDP in the Arab world after Saudi Arabia.
In addition, Dubai's economy is more prosperous than the other emirates of the United Arab Emirates. This is why salaries in Dubai are on average 10% higher than what an employee would earn in the same job elsewhere in the UAE.
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Let's see how the average salary in Dubai (AED 21,500) compares to other popular cities in the UAE:
Let's look at the difference between the earnings of employees with the same work experience but different educational qualifications in Dubai:
According to a payexplorer.com salary survey, a person's base salary typically doubles once they pass the ten-year experience mark.
To compensate for the lack of a fixed minimum monthly salary, the UAE Labor Law requires employers in Dubai to offer certain benefits to their employees.
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Cost of living is the money needed to cover basic housing, education, transportation, and health care. This is a reliable indicator of how well employees are living.
Property costs depend a lot on where you live in Dubai. Monthly rent for a one-bedroom apartment in the city center is around AED 5,528.59 ($1,505.16) and AED 3,687.32 ($1,003.87) outside the city center.
There are public and private schools in Dubai. Fees for public schools are AED 6,000 (US$1,633.50) per year.
Education is more expensive for expatriates than for Emirati citizens. A foreigner is a person who lives in a country other than his home country.
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Dubai has a thriving public transport system, with buses and taxis plying the city. Using a taxi costs an average of AED 2.44 (USD 0.66) per kilometer. A bus ticket costs AED 5 ($1.36).
Locals in Dubai are covered by the government-sponsored health insurance scheme. Dubai Health Authority (DHA) law requires expatriates to have a private health insurance plan.
The UAE is a popular "tax haven" as the UAE government does not levy income tax on individuals and offers tax-free investment opportunities to all residents of Dubai.
Now that you have an overview of the average salary in Dubai and all the factors that affect it, you may be wondering:
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While the relatively low average salary and favorable tax laws are the main advantages, there are other reasons to consider outsourcing to Dubai.
For example, Dubai has a large population of over 7.384 million people and is famous worldwide for its technological advancement.
In addition to initiatives such as Smart Dubai and the Dubai Future Foundation, the government also has a minister responsible for artificial intelligence.
The average salary for a human resource in Dubai is AED 7,800 ($2,123.55) per month. This is lower than the average salary in a popular outsourcing destination like Singapore ($2,419.41 per month).
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As a result, by outsourcing these basic HR services, you can easily and at lower costs develop a uniform hiring practice for your organization.
Recruiting a large and skilled talent pool on your own can be challenging. Fortunately, outsourcing IT services to Dubai can solve this problem.
For example, hiring IT support in Dubai is AED 5,000 ($1,361.25) per month. Using the same subsidy would cost more than $4,913 per month in New York.
Renting a call center representative in Dubai is AED 4,000 ($1,089) per month. The same representative would cost approximately $2,380.93 per month in the UK to hire.
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Although Dubai has excellent technology and infrastructure, the average salary in the city is relatively lower than in the US and the UK.
As a result, you can access a pool of skilled talent at an affordable price, making Dubai a popular choice for outsourcing.
Use the information provided here to understand the average salary in Dubai and decide whether outsourcing is the right move for your business.
Lauren Soucy is VP of Marketing at Time Doctor, the world's leading time tracking and productivity software. He has more than 15 years of marketing experience in fast-paced organizations. Her first passion is SEO, she can't start her day without coffee, and she enjoys spending time at the beach with her two boys and her husband. The United Arab Emirates (UAE) has always been a destination of choice for aspiring individuals. Strange life. One of the main reasons to work in the UAE is that it has tax-free income, a culturally diverse population and many multinational companies, as well as excellent infrastructure.
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As in other developed countries, the most popular industries in 2022 are IT, hospitality and engineering. Sales and Marketing, Healthcare, Accounting and Finance, and Human Resources (HR). Here is a short list of the highest paying professions in the UAE.
Businesses in the UAE serve their customers by providing them with the goods and services they need. Although some companies have excellent products or services, they cannot connect with their customers because they need to build their company's brand and position their products/services. This is where marketing managers come in.
They feel the pulse of the market and use their creativity and expertise to create an alliance between consumers and the companies involved in the products/services. The average annual salary of a marketing manager is AED 540,000.
In addition to software development and management, information technology (IT) professionals provide support for computers and computer networks. There are many job opportunities in the IT sector. The average salary for an IT professional in the UAE is AED 300,000 per year.
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Human resource (HR) managers are responsible for overseeing the management of all human resources. OK
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