Construction ranks as highest-paying sector for senior staff, according to executive-search firm
Construction bosses in the Gulf are now raking in up to $1.2 million a year in basic pay, making it the region’s best-paying sector for senior managers, according to an executive-search firm.
Average income across all sectors was up 7% at the beginning of the year, with top-tier executive salaries increasing by 39% in some businesses, according to Rasd.
“The construction and real-estate industries have experienced exponential growth in the last year. This is especially the case in Dubai, KSA and Qatar, where multiple new projects are materialising. Top-level executives within these sectors are now in a position to reap the benefits of this momentum,” said Mohamad El Turk, a partner at Rasd.
Across all sectors, Saudi Arabia and Qatar remain the highest-paying regions within the Gulf region, especially for senior professionals in CEO-level roles.
Big Project ME’s own salary survey, conducted at the end of 2014, also pointed to rising salaries in the construction sector.
The Construction Intelligence Report, released in January 2015, found that 75.1% of all respondents reported some movement in their salary, with 21% reporting a salary rise of more than 10% over the course of 12 months.