Click here to listen to Trefor Murphy interviewed on Dubai Eye

Trefor highlights in the interview the difference between salary change forecasts over the remainder of 2013 compared to 2012 across the region.  In addition he also identifies sectors where there is likely to be an above average increase in remuneration and offers further insight into the hiring market.

Historically the majority of the power capacity has come from natural gas and crude oil fired plants. Investment in new Combined Cycle Gas Turbine (CCGT) plants is still a major portion of the investment.  ABB, General Electric and Siemens have all announced the award of significant orders related to power plants and substations, with General Electric announcing a $1bn investment in Saudi Arabia to strengthen their presence in the region.

With rising crude prices on the global energy markets countries are looking to diversify their energy mix. The UAE is leading the development of nuclear power in the region, with plans to build four reactors at a cost of $20bn. Saudi Arabia appears to have serious nuclear energy ambitions as well. If the UAE’s program is a success other GCC countries are likely to follow their path.

The region appears naturally suited to solar power, it has numerous Wind and Waste to Energy (WtE) projects being developed to increase its renewable capability.

The international nature of its energy mix is an interesting point; utility companies still run at a national level, with most governments heavily subsiding the cost of electricity. The developers and owners are a mixture of local and international organisations.

Anyone with an interest in the region’s power sector will be keen to see how the energy mix develops. The perceived safety and security risks of nuclear power mean the success, or failure, of the UAE’s program will be instrumental to the future of the GCC nuclear industry. The solar industry faces different challenges, namely overcoming the relatively high level of investment needed in comparison to fossil fuels, and inefficiency concerns caused by dust and sand reducing output. Fossil fuel burning plants are likely to still play a key role and provide the base load. The mix between conventional fossil fuels, renewable and nuclear is something we can expect to evolve over time.

Significant investment in the local power sector, has a historical reliance on expatriate skills. Premium tax free packages and high living standards make the GCC an attractive proposition for power generation professionals.

Please feel free to contact Jon Lauriston at jonl@morganmckinley.ae for further information on the market or specifically what opportunities are available.

The demand for skilled professionals is high. Developments and explorations in MENA, whether for private companies or local governments are facing a potential shortage.

All Gulf oil and gas economies are expected to have a higher rate of job creation than in previous years, providing the highest employment rate than any other business vertical in the region.

The net percentage of firms increasing headcounts due to new projects in the sector has increased 10% from 2011 to 2012 and the employment forecast looks promising in the future.

At Morgan McKinley we understand and ‘get’ the oil and gas sector.  Our business is to help your business grow or career evolve and we face similar challenges and scenarios in exploring and finding the best natural resources. However, our highly skilled recruitment consultants are experts in the field and have an extensive network and global reach ensuring that your business or project or career is our priority. Talk to us today.

The good news for the Middle East is that in most fields of banking, there are still regular opportunities that perhaps for discretionary reasons aren’t always advertised. Nonetheless, with available jobs seemingly on the decline, I thought I would put together some tips that will help you ensure you are always on the radar when a recruiter receives that key mandate that could change your career:

1. Make yourself visible in the market – keep your LinkedIn profile updated and use it regularly as it is a great place for making connections and often one of the first places a recruiter will look.

2. Send an updated CV through to your trusted recruiter every quarter. Recruiters receive a large amount of applications each day so a regular email through will help keep you fresh in their mind. Also be sure to keep your recruiter updated with any changes in your progress

3. Don’t be afraid to upload your CV to the main job portals – upload your CV to the likes of efinancialcareers, Gulf Talent,  Monster Gulf etc.

4. Be flexible on location – if you are serious about your career you must be flexible. Dubai is often the most sought after location choice in the Middle East, but there are more opportunities currently in Abu Dhabi, Qatar and Saudi Arabia (more so for senior vacancies).

5. Don’t chase too often – believe your recruiter when they say they will contact you when something appropriate comes up; once you have met or spoken with a recruiter a lot of work goes on behind the scenes in order to find a suitable job match for you and this almost certainly will not be an overnight accomplishment.

6. Remain proactive – network with people in the region, attend industry events, seminars and keep updated on industry developments. You never know where an opportunity may come from.

6. Don’t disregard temporary or contract work! – If you have been made redundant don’t despair, be open to a temporary job. It is better than creating a large gap of unemployment on your CV.

7. Stay positive – ultimately, above all remain positive. Ensure you follow these tips, and if you are lucky enough to be already employed at a solid organisation then every month you stay with that company is currently adding longevity to your CV which is only ever a good thing.

On a side note, there are many opportunities for UAE, Qatari and Bahraini nationals, so if you fit these criteria, please contact me.

Contact Anthony Graves on +971 (0) 4 324 4094

• Programme manager
• Senior research associate
• Research associate
• Applications scientist

Click here to listen to Morgan McKinley’s UAE MD, Trefor Murphy interviewed on Dubai Eye

Listen to Trefor Murphy being interviewed on Dubai Eye 103.8 fm for the Business Breakfast show. Trevor was interviewed for the radio show on Thursday 6th September.  In the 15 minute interview Trefor shares his insights on salaries and hiring in the UAE and explains the latest results of the Morgan McKinley 2012 UAE Salary Guide.  Sectors covered include: Financial services, accounting, sales & marketing and technical roles.

Dubai Eye is the leading English talk station in the UAE, setting the agenda every weekday morning with its award winning flagship show The Business Breakfast.  The show is recognised as the leading provider of business information and insight from the business and financial sectors.

Please contact pressoffice@morganmckinley.com for further information on our UAE Salary Guide.

One thing is for sure, Dubai, for 11 months of the years is a haven for expats and economic immigrants from around the world. A religiously tolerant county for the most part, that mixes Western and traditional Arab culture with that of people from around the globe. While the Emiratisation policy has affected a small minority of expat jobs, it is in the most part seen as a positive move that companies encourage a multi-cultural office environment. However, during Ramadan this does change. It is typical for people to dress in a more conservative manner; cafes and restaurants close during the day;  bars have reduced hours and night clubs close completely. A trip down Sheikh Zayed Road will confirm that a lot of people leave Dubai for the summer completely.

For the business and recruitment world other differences are seen. Our Muslim colleagues leave the office early and clients and candidates alike become hard to get hold of as they either observe the month or escape the summer heat. One trip to the ID office (which any UAE resident will know is a nightmare at the best of times) will confirm that things….are….slow….this….time….of…year! But, there is a light at the end of the tunnel. Despite the shorter working day teams across the office at Morgan McKinley have seen some exciting jobs coming through from  employers and  even more promising plans for September and Q4. One thing is for sure, behind the scenes the admin and decisions are still taking place. Post Eid will be an exciting time for those looking for a new role and for  recruiters in a strong position to help them.

So, because of your shorter day, the quiet atmosphere of most offices and the long evenings, there has never been a better time to reflect on your current role, update your CV or get in touch with us about recruitment for your team. At Morgan McKinley we are ready to make sure that we play our part in keeping Dubai moving forward and looking to the future. I fear though Ragini, that it will still be a while until Waitrose delivers!

Ramadan Kareem & Eid Mubārak for those looking forward to the end celebration.

Cautious hiring market

• As with many financial services centres around the world, Dubai’s financial institutions remain relatively cautious in their approach to hiring, perhaps as a result of the previous crisis.
• Employers will find the hiring market full of job seekers, however for those looking for a new career move, there are fewer available roles – similar to the London market.
• The Euro crisis has also impacted the UAE – with European banks looking at cost cutting measures.

So is there any opportunity?

• Although banks are right-sizing and down-sizing, there is some growth to be seen in areas of these organisations that are making money.
• Some banks are making significant profit in areas of sales trading and fixed income trading and there is continued demand in this space. This in turn has led to increased demand within risk management.  This mirrors the requirement for talent in the London market as well, and is also the case for compliance where a healthy amount of hiring is a result of banks’ need to adhere to regulation.
• Hiring is strategic, as budgets are tight, so employers are looking for key hires with exactly the right skills.
• Hiring managers are also looking for ambitious job seekers, who are prepared to be more flexible on where their next role is located.
• Dubai has long been an attractive location for expats, however the opportunities right now in the financial services sector are in Abu Dhabi and Qatar. In particular Qatar is growing at a steady pace.

Best approach to finding a new role

• Competition is going to come from professionals who are prepared to move around the UAE – job seekers are increasingly prepared to commute two or more hours to work each day or even to relocate away from Dubai within the Middle East for a good career move.
• Dubai continues to be attractive to overseas job seekers because of the perceived lifestyle advantageous. Visiting Dubai and networking is highly recommended to improve the chances of a successful job search.
• Opportunities exist for the right talent; look at the skills that you offer and do some research or contact Morgan McKinley UAE to find out if your skill set matches areas of the market that are still growing and hiring.
• Consider how flexible you are prepared to be, both in your location and in your salary expectations.

To get ahead in financial services whether in Dubai or elsewhere in the UAE – it’s important to focus on what employers really need right now.  Morgan McKinley UAE can help you with advice on the skills in demand, areas of the market that are growing, remuneration across the entire region.

Contact Anthony Graves on +971 (0) 4 324 4094