Working in Abu Dhabi

Which industries in the capital would you say are strongest at present?
The areas where we are seeing strong growth for Abu Dhabi are finance, within commerce and industry, manufacturing and logistics, facilities management, energy, aviation and education.

How are local companies faring in the city compared with multinationals?
Local companies are competing on an even playing field with multinationals, because they are making investments in the future of their organisations, their staff and in Abu Dhabi. The multinational organisations have felt a stronger impact from the global recession and therefore have taken a much more cautious approach to expansion and growth plans, which I feel will impact them in the long run. Emerging markets have certainly weathered the storm of the recession much better than other economies.

Are any sectors doing particularly badly?
Architecture and construction within the residential markets is still the hardest-hit sector, as there is still further supply of residential developments in the UAE to be released into a market that already has ample supply. But on the positive side of construction, infrastructure and retail development are areas that are doing very well.

Should anyone expect payrises this year?
I think a 3-5% increase will follow suit across all industry sectors with bonuses being very limited. People seeking stability and security are less likely to move jobs, as they have seen previous colleagues fall victim to ‘last in first out’ – and since a job move usually comes with a pay rise, this lack of movement is stabilising salaries further.

How about bonuses?
We saw a rise on bonus levels for 2010 vs 2009, although 2011 levels seem quite muted. Many banks missed expectations and realised that there was plenty of work to be done before the bonus levels of 2007/2008 would be back. There is an increasing trend of bonuses being paid in the form of deferred shares, mostly among executives, although this is certainly not the norm. Cash still remains king in terms of bonuses and is used exclusively in non-executive positions.

Would you say Abu Dhabi is a profitable place to work?
Yes, ongoing growth is almost guaranteed by the emirate’s Vision 2030. Abu Dhabi is certainly an interesting prospective to candidates, and I think the growth – particularly within the government sector, infrastructure and education – is appealing. The candidate market is certainly very strong for Arabic speakers, and, with more development expected across Abu Dhabi, the city is certainly a market to keep your eye on.

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