Dubai offers a growing number of positions for equity researchers. But pay is slightly lower than elsewhere.
Deutsche Bank created a dedicated Middle East and North Africa research team last year, and headhunters say it's not the only one bulking up in the region. Citigroup and ING reportedly beefed up with local equity research talent in 2006 and there may be more hires to come.
James Mackenzie, managing director of Mackenzie Executive Search, predicts that international banks which have yet to build their presence in the Dubai market will be doing most of the hiring. "There is a general growing need for researchers here, as the financial hub grows," he says.
Pay varies widely, but isn't quite on a par with the City of London, where a fully fledged equity researcher can easily earn a six-figure package. According to Mackenzie, an analyst with five years' experience can expect a salary range between $75k and $150k (39k and 77k) plus bonus.
"Even new entrants, who don't know the local market well, have come in and been offered well over the odds," he adds.
Which sectors are hottest? Samar El Gazar, MD of Leaders Solutions, says researchers who aspire to work in the emirate will do well to focus on infrastructure, which is booming in the region.