Middle East Private Practice Market & Salary Review taylorroot.com

Transcription

1 Middle East Private Practice Market & Salary Review 2012

2 Middle East Private Practice Market & Salary Review 2012 Introduction We are delighted to present our market review of the Middle East private practice sector for Taylor Root has been operating in the region for over twelve years, having opened our Dubai based office in October Taylor Root recognises that the Middle East is a unique and individual market and we aim to provide as accurate and current information as possible in regards to salaries and recruitment trends as part of our service to clients and candidates in the region. Market Overview The Middle East recruitment market continues to be an attractive location for international lawyers, offering superb career opportunities within law firms. It is fast paced, exciting and continues to attract global organisations to the region. It offers lawyers cutting-edge legal work, great client contact, relatively small but high quality teams and impressive salary packages. Most international law firms are staffed by predominantly expatriate lawyers and English is very much the language of business in the region. Arabic speaking lawyers are also, naturally, relatively widespread in both international and locally based law firms. The region returned to very respectable levels of growth during 2011 and 2012 has so far been a positive year despite headwinds in other parts of the world. The majority of law firms are full service and will carry out corporate, finance, projects, real estate and litigation/arbitration work across their regional offices in Dubai, Abu Dhabi, Qatar, Bahrain, Kuwait, Oman and Saudi Arabia.

3 Middle East Private Practice Market & Salary Review 2012 Where? The legal market is still very much led by Dubai, and many firms and companies still envisage Dubai being their main Middle East base given its liberal regime, world class infrastructure and excellent facilities for expatriate life. Other locations such as Abu Dhabi, Qatar and Saudi Arabia are growing strongly off the back of their natural reserve revenues and also provide excellent opportunities for lawyers looking for a less developed market. Offices and teams tend to be much smaller but are presumed to grow in the coming years, offering excellent career opportunities. Economic growth figures for the region are some of the most positive in the world, with predictions of further progress. The outlook for the region seems bright as several developing countries mature. The Rewards Lifestyle The Middle East is developing into an all-round lifestyle location with Dubai very much at the forefront of the attractions, so much so that it is now a holiday destination for many people around the world. The region is now host to a vast array of sports clubs and events such as Dubai Sevens, Race to Dubai World Championship Golf, ATP Tennis tournaments, World Swimming Championships and Formula 1 Grand Prix amongst others. Alongside this there are great beaches and hotels, some of the best shopping malls in the world and an array of bars and restaurants; there is plenty on offer for singles or families alike. The climate is excellent for the majority of the year and wall to wall air conditioning make the hot summers bearable, whatever activity you wish to take part in. If you wish to take a break, the Middle East is an excellent transport hub, being located in between Europe, Africa and Asia, making them all very reachable within a few hours. The Middle East is a zero income tax region and therefore is seen as a particularly attractive option considering that salaries are in line, or slightly above, London rates but are not taxed. Salaries are generally paid in lump sum and the expat package splitting up salary, housing and other costs rarely exists nowadays. Housing costs are now very competitive with other major jurisdictions, with high quality new villas and apartments available.

4 The salaries Magic Circle Middle East Private Practice Market & Salary Review 2012 Minimum (in Dhs) Maximum (in Dhs) NQ 350, , PQE 400, , PQE 600, , PQE 800, ,000+ International Firms Minimum (in Dhs) Maximum (in Dhs) NQ 300, , PQE 350, , PQE 500, , PQE 750, ,000+ UAE Local Firms Minimum (in Dhs) Maximum (in Dhs) NQ 200, , PQE 250, , PQE 350, , PQE 500, ,000 US Firms Minimum (in Dhs) Maximum (in Dhs) NQ 350, , PQE 400, , PQE 600, , PQE 800, ,000+

5 Middle East Private Practice Market & Salary Review 2012 Remuneration Benefits and bonuses Mandatory benefits such as private medical insurance exist but pre-boom package fillers such as education and car allowances rarely exist. Bonuses across the board remain discretionary and our intelligence suggests that there is no distinctive pattern, other than they are offered by the majority of organisations in the region. Candidate pool The Middle East is a cosmopolitan region and this is reflected in the diversity of the local legal population. As regional experience becomes more important, hiring managers are often prepared to pay a premium to those already established in the market. However, in a good market there still remain plenty of opportunities for those who are based outside of the UAE. With expats now able to buy property in a number of locations and with high standards of education and healthcare, a move to the region is no longer a pit stop, but often a long-term move.

6 We have been involved in a number of high profile moves and have the depth of experience to advise on any senior level move to or within the market. Speak to a member of the team on or contact one of them on the below details: Shane Morton Partner Private Practice team shanemorton@ Hannah Sentance Consultant Private Practice team hannahsentance@ Established in the 1980s, Taylor Root is now widely recognised as being one of the world s leading legal recruiters. Operating out of offices in the UK, Dubai, Asia and Australia, we are ideally placed to assist law firms, banks and companies with their legal recruitment on an international basis. Taylor Root has a strong track record in the recruitment of: Heads of legal and legal advisers; Law firm associates and partners; Contract/locum lawyers; Paralegals; Company secretaries and Compliance professionals. Taylor Root is a member of The SR Group. The SR Group is a specialist recruitment consultancy dedicated to raising standards in the business environments that we serve. The sectors we cover include tax, legal, human resources, marketing, professional support and executive search, dealing with a substantial number of the world s leading professional partnerships, multi-national corporations and international banking groups as well as small to medium sized developing organisations. London 95 Queen Victoria Street London EC4V 4HN T: +44 (0) Singapore Level 21 Prudential Tower 30 Cecil Street Singapore T: Dubai Suite 614, Liberty House DIFC PO Box T: Melbourne Level 2, Rialto North Tower, 525 Collins Street Melbourne, VIC 3000 T: +61 (0) Hong Kong 1918 Hutchinson House 10 Harcourt Road, Central, Hong Kong T: Sydney Level 12, 25 Bligh Street Sydney NSW 2000 T: +61 (0) Taylor Root is a member of the SR Group