It's no secret that the past few years haven't been great for the investment banking industry in the GCC, and 2011 was a particularly arid deal landscape.
While bonuses have understandably not been large this year, base salaries have generally held up well and – in the case of associates and vice president roles – actually increased slightly.
The 2012 salary survey from recruiters Charterhouse Partnership suggests that average base pay for an associate working in an origination role is now AED35k a month (AED420k/US$114.3k annually), up from AED33k last year. This increase is the same for an associate working in an investment banking sales role.
At VP level, the increase is even more pronounced for origination specialists. The average salary is now AED55k a month (AED660k/US$180k annually), up from AED50k last year, suggests the survey.
By contrast, here's what you can expecting working in M&A in London. At US$126k a year for a first year associate's base salary, you can see the earning potential is greater.
We've broken out some salaries for financial services professionals in the region. The full guide is available here.