Dubai Banking Analysts Seen Earning Double Bonus of London Peers - Bloomberg

Dubai Banking Analysts Seen Earning Double Bonus of London Peers - Bloomberg:



"Junior bankers in the United Arab Emirates are reaping almost 36 percent more salary than their counterparts in London, with bonuses almost double those paid in the U.K. capital, compensation data provider Emolument said.



Fixed salaries at the analyst level in the U.A.E. average $91,000, compared with $73,000 in London, the group said in an e-mailed statement. Bonuses in the U.A.E., which consists of sheikhdoms including Dubai and Abu Dhabi, averaged $27,000 compared with $14,000. At the associate level, fixed pay in the U.A.E. was $107,000, compared with $108,000 in London, while U.K. bonuses of $40,000 were about 29 percent higher than in the U.A.E.



Dubai, which teetered on the brink of default in 2009, is rebounding as equity and property markets soar. Banks including Goldman Sachs Group Inc. and Renaissance Capital are boosting teams in the region and hiring bankers from competitors."



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