Home Industry Dubai among world’s top 5 highest paying cities for bank directors Emirate ranks above Paris and Milan for hefty pay packages by Aarti Nagraj April 11, 2016 Dubai ranks among the highest paying cities for banking directors worldwide, a new survey by salary benchmarking site Emolument.com has found. The study compared average salaries and bonuses earned by banking directors and analysts worldwide. While Dubai ranked second in terms of the highest salaries paid to directors, it was positioned fifth overall when bonuses were also considered. The emirate was not ranked among the top paying cities for banking analysts. Read: Revealed: Top 10 salaries in the UAE Globally, analysts make an average of $78,000 per year while directors pocket annual wages of roughly $360,000. While New York pays the highest salaries to analysts at around $115,000 per year, Hong Kong tops the list for directors, with a yearly average of $539,000 (salaries and bonuses). Across all cities, directors’ bonuses were found to account for a much larger part of total compensation (up to 54 per cent in New York). The high bonuses are a key incentive for senior directors and retain revenue-generating staff, the report said. Co-founder and chief operating officer at Emolument.com Alice Leguay said: “While Asia seems to be a sweetspot in terms of balancing amounts of banking regulation, remuneration and quality of life, bankers should focus on available opportunities in specific institutions as some non-Asian banks still struggle to win mandates in the region. “This could result in moving into a frustrating professional dynamic with low yields in terms of raising one’s profile and visibility in the industry globally, impacting future earnings as a banker.” Highest paying cities for bank directors 1. Hong Kong Salary: $274,000 Bonus: $265,000 Total: $539,000 2. New York Salary: $227,000 Bonus: $271,000 Total: $498,000 3. London Salary: $226,000 Bonus: $192,000 Total: $418,000 4. Singapore Salary: $228,000 Bonus: $154,000 Total: $382,000 5. Dubai Salary: $230,000 Bonus: $142,000 Total: $372,000 6. Zurich Salary: $202,000 Bonus: $45,000 Total: $247,000 7. Paris and Ile-de-France Salary: $127,000 Bonus: $116,000 Total: $243,000 8. Milan Salary: $127,000 Bonus: $55,000 Total: $182,000 0 Comments