More than half of GCC lawyers received a pay rise last year, and almost 80 per cent expect a bonus to be paid this quarter, a survey of in-house legal professionals has found.
With 60 per cent of respondents also feeling optimistic about the year ahead, the results suggest the profession is shrugging off any worries about an uncertain global economy.
"The executive search industry is a bellwether for the wider economy, and the survey results confirm what we have been observing since 2010, and that is that optimism is returning to the market," said Elizabeth Williams, the managing director of Elizabeth Williams Search, a legal headhunting company that conducted the survey of 361 lawyers.
Sixty per cent of those surveyed said they had received a pay rise last year. The average salary for a head of legal at a firm is almost US$21,000 (Dh77,100) a month, excluding bonuses. But the pay is higher if the lawyer is fluent in written and spoken Arabic and qualified in western common law.
Abu Dhabi and Qatar offer the highest average salaries, the results showed.
Seventy-nine per cent of respondents said they expected to receive a bonus for last year. Just over a quarter of lawyers expected it would be 11 per cent to 20 per cent of their total pay, and just under a quarter expected it to be 21 per cent to 30 per cent.
Just under half of the 205 heads of legal expected to recruit this year, with most hiring interest focused on Arabic speakers.
In another positive sign for the in-house legal profession, job losses in the sector have almost stopped. As the global financial crisis began to bite, a quarter of heads of legal cut posts in 2009.
"The results also show that the region is perhaps not as transitory as people think, as a lot of lawyers want to remain here for as long as they can," said Ms Williams.
A large proportion of lawyers said they had been in the region since the onset of the global downturn in 2008. Many lawyers from Europe and North America said they had no plans to leave the GCC in the medium term.
tarnold@thenational.ae
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
The specs
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A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
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COMPANY%20PROFILE
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Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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Blackpink World Tour [Born Pink] In Cinemas
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Rating: 3/5