Gulf bankers expect big rise in bonuses in 2013

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Six in 10 financial professionals based in the UAE, Saudi Arabia, Kuwait and Qatar are expecting to receive a bigger bonus this year compared to last year, a new survey has revealed. 

Of those expecting an increase, over a third (35 percent) believe the increase could be more than 50 percent.

Most cited personal performance (41 percent) or company performance (25 percent) for the main reason they will receive a bonus increase.

With bonus reviews now high on the agenda, eFinancialCareers said it polled over 4,500 financial professionals across seven markets to understand their bonus expectations. 

Compared to Singapore, Hong Kong, Australia, United Kingdom, and the United States, surveyed professionals in the Middle East expressed the most confidence, the poll showed.

Nearly half (48 percent) said they feel more or significantly more confident about their bonus compared to this time last year.

James Bennett, global managing director of eFinancialCareers, said: “It is encouraging to see high levels of confidence amongst financial professionals in the Middle East. 

"If expectations are met, it could make the Middle East financial centres more attractive to international talent.”

Nearly half of respondents (46 percent) claimed the level of their bonus very much affects their job satisfaction and motivation at work. 

Bennett said financial institutions were under pressure to meet high employee expectations, adding: “Our survey found that nearly two thirds of financial professionals would consider seeking alternative employment opportunities if bonus expectations were not met, so it is a serious consideration when thinking about retaining staff and assessing overall compensation packages.”

The eFinancialCareers Global Bonus Expectations survey took place in Singapore, Hong Kong, Australia, Germany, the United Kingdom, the United States and the Middle East in September, with 4,642 employed finance professionals responding.

In the Middle East, the survey took place between September 16-30, with 355 employed financial markets professionals polled.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: aslamk

It will not be fair to be extra generous in giving huge bonus to the financial profesionals in GCC. As in some cases their clients have been hit by underperforming assets which they have selected on their behalf and are still underperforming for reasons best known to them.

Higher Management have to be careful while disbursing the bonus and not to hurt the sentiments of general investors.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Austerity? Not for us, say rich Gulf states as oil slides

Austerity? Not for us, say rich Gulf states as oil slides

Economic defences which the Gulf states built up after the global...

Saudi Arabia builds start-up culture with state oil money

Saudi Arabia builds start-up culture with state oil money

Gov't has previously has found it hard to promote start-ups in...

Why PE's back in vogue in the Middle East

Why PE's back in vogue in the Middle East

Confidence is returning to the Gulf’s private equity market after...

Most Popular
Most Discussed
  • 16
    Emirates could offer cheaper fares by April

    I was an avid traveller on Emirates, very good service a few not so good times but hey it can happen with any airliner. Now since the last 2 years, i've... more

    Tuesday, 27 January 2015 7:30 PM - Arjun
  • 9
    Expat dies after car plunges from high rise car park in Abu Dhabi

    It looks like the small black/yellow barrier worked like a ramp when the car was reversing and lifted it over the very short outside wall. Very very dangerous... more

    Tuesday, 27 January 2015 12:47 PM - Klaus B.
  • 8
    Rise of the Islamic fashion industry

    It feels great to see that many fashion designers are coming with with the new trends of Muslim clothes. Along with abaya addict, i love the designs offered... more

    Tuesday, 27 January 2015 12:46 PM - Hafeeza Noor