Life in Dubai: Salaries and Features of the Economy
1:40 am | 24.02.2024
Contrary to popular belief, Dubai‘s economy is not dependent on oil production. From the 1960s to the 1990s, city accounts were replenished by the industry, but a huge portion of the income from the sale of resources was used as an investment in economic development. One of the key areas in which funds have been invested is trade; it remains the core of Dubai’s financial well-being.
In addition to trade, the city’s GDP is driven by logistics, with two major ports and an air hub; followed by banking, real estate, niche industries, and tourism.
And despite the global crisis trends of recent years, the city’s GDP continues to grow. Thus, in the first half of 2023, Dubai overtook the world average and reached $30,765,460,230. According to the forecasts of the Central Bank of the UAE, growth will continue in 2024 and amount to 4.6%.
Salary in Dubai is negotiated individually with each employee. If we highlight some general average salary in the city, without reference to industry and position, then it is approximately $4,500 per month.
But we want to give you a more complete picture and look at salaries from the minimum to the maximum amount. It is important to understand that the figure will vary depending on the industry. Here are some of them:
Oil. Even though the industry currently contributes less than 6% of total GDP, it is still profitable to work in. Thus, initial career positions in the oil and gas industry will bring $4,000; Top management level specialists receive $13,000 per month or more.
Finance. Given the fact that Dubai is a global financial center, it is not surprising that this industry has some of the highest salaries. At the start, you can earn from $5,500 per month. If we talk about the remuneration of highly qualified specialists and/or company executives, their monthly remunerations exceed $20,000 per month.
IT. Dubai is a high-tech city, so the IT sector can rest easy – there are decent wages for everyone. Thus, interns can count on a salary of $2,700 per month, and seniors and leads can easily receive at least $8,000.
Real estate. One only has to look at the skyscrapers of Dubai to understand how lucrative this industry can be. We include those sectors that are involved in architecture, construction, and direct sales. Minimum salaries for junior professionals start around $4,000 per month and can go up to more than $11,000.
Aviation. The status of an international hub provides aviation workers with decent income levels. So, only at the initial stage, you will be able to earn about $5,500 per month. But aircraft captains are promised $27,000 a month.
Artificial intelligence. Progress has brought a new industry and many job opportunities to the world, and Dubai in particular. Working with artificial intelligence is not only interesting but also profitable – many companies promise starting from $5,000 per month.
Digital Marketing. Of course, in the business heart of the country, huge attention is paid to digital marketing. Employees of online promotion companies are promised monthly remunerations ranging from $2,000 to $4,600 per month.
Psychology. Interest in mental health on the part of local residents affects the growth of the standard of living of workers in this industry. Their salaries start at $4,900 per month and can rise to at least $7,500 per month.
Coaching. In Dubai, personal growth and development are not an empty phrase. In a city with rapid business growth, those who help bring new top managers into the world are highly valued. Life and business coaches working here can expect salaries ranging from $3,000 to $7,500 per month.
Health care system. One way to provide first-class healthcare is to motivate workers with decent wages, and Dubai understands this well. Thus, nurses receive from $2,500 to $7,000 per month; Doctors’ salaries are even higher – from $4,500 to $19,000 per month.
We looked at salaries in the most promising areas. Naturally, not all workers in Dubai receive such high salaries. In unskilled fields, pay can range from $165 to $815 per month.
It is natural to wonder which professions in Dubai offer high earning potential. If we talk about areas of activity, these are finance, IT, and real estate. They are especially in demand:
Financial analysts.
Managers (financial planning and analysis, commercial finance).
Heads of financial departments.
Software developers (server and front-end).
Heads of IT departments.
Technical Directors.
Realtors.
Sales managers of construction materials.
In addition, like other tourist cities, Dubai is always in need of service professionals, including hotel receptionists and bartenders.
Income Taxes in Dubai
Some high-wage countries have high income taxes. For example, in Sweden, at least 20% of the salary goes to the state treasury, and in Germany, this tax can reach 45%. There is no such income tax in the UAE and Dubai. Therefore, these amounts are paid to employees without deductions.
The only industry that is taxed in the country and contributes to the budget is oil and gas production. However, this does not apply to hired employees; their salaries are also paid in full.
