Dubai Employment News
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| Banks and private equity firms in the GCC are seeing the first signs of hiring, with the economic crisis hitting the Gulf last year. However, professionals in the financial sector are accepting salaries that are 30 percent less than salaries that were in vogue six months ago. IQ Selection, the Dubai-based recruitment firm, also a part of the global premier group, says the enquiries from potential employers have increased by 60 percent during the past month. Earlier the hiring market was totally down, with rate cuts and redundancies, but, firms are approaching us with live vacancies. Hiring is happening mainly in the front office for private equity and investment banking capital markets, said Jonathan Gould, Financial Services Consultant at IQ Selection. Arqaam Capital, an investment bank in Dubai, said that a flood of interest has been seen from candidates seeking to enter the region from abroad, and they are more realistic in terms of salary expectations. The Managing Director – Human Resources at Arqaam, Marc Hoodless, said it is common for people to take positions, wherein the compensation has been 30 percent less and in few cases lower than it was six months ago. According to Senior Consultant at Stanton Chase International, Jack Montgomery, the leading global executive search firm, majority of the demand in the financial services world is in private equity sector. The recruitment analysts say that the private equity sector in Gulf, witnessed a boom during the last two years, but, the number of redundancies were not to the extent of that seen in the investment banking sector, or other areas of financial services during the past six months. Posted on 1/6/2009 Read more newsThree new industrial parks likely to boost job prospects in Abu DhabiPositive outlook for UAE jobseekers in 2012UAE workforce to witness steady growth in 2012Pay hike on the agenda for UAE employees in 2012UAE residents unsure about job stability and new jobs in the marketImproved recruitment activity in UAE during 1H 2011Job redundancies unlikely in UAEEmirates Airline to conduct 77 recruitment fairs across the globePromotions without pay hikes, now a common trendUAE records growth in hiring process during summer monthsMonsterGulf launches Return2Home recruitment initiative for expat nationalsNew properties to generate 1000 new jobs in UAE this yearUAE salary levels most competitive in the region, say expertsRevised minimum wage policy likely for migrant Indian workersTawdheef 2011 opens on 25th January with over 2500 job vacanciesUAE job market to be streamlinedMore than half of the employers to recruit in Q4 2010Dubai among top five destinations of choice for employmentAll companies in Dubai must abide by Wage Protection SystemCompanies failing to pay timely wages will be referred to Labour Court |
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