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Finance Jobs

Dubai and the UAE Are Great for Financial Jobs?


If you are looking for overseas finance jobs, Dubai might be one of the places you have considered or are considering for your career opportunities. That's certainly understandable, what with the attractiveness of earning a tax-free income as well as working in a cosmopolitan and multicultural environment. However, given the impact of the international economic recession on Dubai, the UAE and the rest of the Middle East, will looking for financial jobs in Dubai be worth your while?

To be sure, some reports can be disheartening. For instance, there was an article in Businessweek that focused on job cuts made by various financial institutions in Dubai because of the recession. Even big multinational companies like HSBC, Morgan Stanley, and Shuaa Capital PSC were not immune to the need to reduce their Dubai operations. Similar downsizings were also made at the Dubai International Financial Center, the state-owned business park.

Despite all that however, prospects and opportunities relating to financial industry jobs in Dubai still do exist. You will find news reports and industry reports showing that the Dubai and UAE job markets are starting to see an upturn. For instance, a survey conducted in May 2010 by the market research company Insight Discovery and the Pink Slip Dubai networking group revealed that up to 64 percent of human resources experts, recruiters, and headhunters in the UAE have witnessed job market improvements after 2009.

Further, it has also been noted that some industries, such as the financial services sector, are doing better than others when it comes to hiring workers. In fact, according to a statement by one of the managing directors of Monster.com, one of the world's largest online job-search engines, the finance industry is one of the top five industries in the Gulf region that are searching for employees.

It should be noted that Gulf region countries such as Saudi Arabia and Qatar presently have higher employment rates than Dubai; however, this does not mean that finance jobs in Dubai are scarce. On the contrary, if you search online for job vacancies in Dubai's financial industry, you are apt to come up with more than just a handful of results.

In addition to the numerous want ads for accounting and auditing personnel and executives, you will also find listings of vacancies for banking jobs, trading jobs, and hedge fund jobs in Dubai. If you are a finance professional looking to expand your career in Dubai, you should take a look at banking and finance openings at companies such as Dubai Bank, Dubai Islamic Bank, First Gulf Bank, National Bank of Dubai, First Gulf Financial Services, and Emirates Bank. According to gulfjobsmarket.com, these are among the top employers in Dubai's financial services industry.

As you can see, options for finance jobs in Dubai are still viable. If you are in the UAE employment market for a financial director job, a job as an accountant or a financial controller or other jobs in the industry, you would do well to consider Dubai as a location for career opportunities and growth.