eFinancialCareers

Are you a junior corporate financier with a few years’ experience under your belt? You could be just what Gulf banks are looking for.

“Demand is very high in corporate finance for people who have two to three years' experience,” says Samar El Gazar, MD of Dubai-based recruitment firm Leaders Solutions. “Local as well as international banks are requesting these people.”

Who’s hiring? Goldman Sachs is reportedly acquiring a stake in an investment banking subsidiary of Saudi Arabia’s largest lender, National Commercial Bank, and last month Merrill Lynch was granted a licence to open an office in Dubai.

The Gulf M&A market remains small – attracting just US$29bn of deals last year according to Dealogic, compared to more than US$400bn in the US. But recruiters say demand for corporate financiers in the region is set to grow. And since the Gulf financial job market is made up mainly of expat workers, employers are not geared towards training new graduates but attracting more experienced staff.

Gazar says clients are looking for candidates who started with a reputable financial services firm and have completed their initial qualifications.

Successful candidates can reputedly expect to earn between US$60k and US$72k (£31k to £37k) a year as take home pay, which isn't exactly great compared to London – but it is tax free.

The openings aren’t only in corporate finance. Michael Ketley from MRK Consulting says demand is equally high for juniors in capital markets and private equity roles. And Gazar reports demand for accountants, credit risk and loan syndication specialists.