Gulf-based private equity staff are already paid more than colleagues in New York and London. And they could be on track to earn even more.
Local recruiters say demand for private equity (PE) professionals has swollen in recent months as more and more money finds its way into the region.
“Private equity has really been hotting up since January,” says Emma Hackforth, founder of Dubai-based recruitment firm Matchsticks. “The US fear of doing business in the region is dissipating,” she adds.
US firm the Carlyle Group recently added an investment advisor to its Middle East and North Africa team and opened offices in Dubai, Cairo and Istanbul.
Recruiters say US money is flowing into the Gulf as American financial institutions rush to take advantage of the oil-related liquidity in the region.
As a result, a senior associate working for a PE firm in the Gulf can reportedly now expect to earn around US$130k to US$150k, plus a 50% bonus and a raft of perks that includes flights home, equity deals and accommodation.
Is it any easier to get a private equity job in the Gulf than in London? Stuart Dale, a consultant at City-based recruitment firm EM Group, says local firms’ requirements are mixed: “Some are looking for people from London from top banks, others are looking for Wall Street people and others want people with regional experience.”
