2024 KSA Salary Guide
2024 KSA Salary Guide
Kingdom Of Saudi
Arabia 2024
Contents
CONTENTS .............................................................................................................................................. 2
INTRODUCTION ...................................................................................................................................... 3
OVERVIEW ............................................................................................................................................... 5
BONUS OUTLOOK................................................................................................................................... 6
TALENT OUTLOOK .................................................................................................................................. 7
ADVISORY ................................................................................................................................................ 8
BANKING ................................................................................................................................................. 9
HUMAN RESOURCES ............................................................................................................................ 11
INVESTMENT MANAGEMENT ................................................................................................................ 12
LEGAL .................................................................................................................................................... 13
MANUFACTURING ................................................................................................................................. 14
PUBLIC SECTOR .................................................................................................................................... 15
REAL ESTATE ......................................................................................................................................... 16
SALES & MARKETING ............................................................................................................................ 18
SENIOR FINANCE .................................................................................................................................. 20
STRATEGY ............................................................................................................................................. 22
SUPPLY CHAIN ...................................................................................................................................... 23
TAX ........................................................................................................................................................ 24
TECHNOLOGY ....................................................................................................................................... 25
TELECOMMUNICATIONS....................................................................................................................... 28
RESEARCH METHODOLOGY ................................................................................................................. 29
It has been a milestone year for the Kingdom of Saudi Arabia (KSA), as it passed the halfway line
between the 2016 launch of Vision 2030 and the programme’s endpoint. While KSA’s decision to
reduce oil production to its lowest level in two years resulted in lower year-on-year revenues, the
International Monetary Fund (IMF) expects that non-oil growth will remain close to 5% in 2023.
Development remains a major focus for the Kingdom, with significant progress made across the
nation’s portfolio of gigaprojects. Red Sea Global, for example, announced its intention to open three
hotels – St. Regis Red Sea Resort, Nujuma Ritz Carlton Reserve and Six Senses Southern Dunes – by
2024. The total value of KSA’s announced real estate and infrastructure projects has passed the $1.25
trillion mark according to Knight Frank, and CBRE estimates that the nation accounts for a staggering
64.5% of all projects currently planned or underway in the GCC.
Saudi Arabia’s burgeoning sports and esports sectors have enjoyed a strong year too. The Saudi Pro
League welcomed a selection of world football’s biggest stars in 2023, in line with government targets
to quadruple the league’s revenues to $480 million by 2030. Building on last year’s $1.5 billion
acquisition of ESL Gaming and FACEIT by KSA-based Savvy Games Group, the Kingdom has also
unveiled plans to develop a $500 million ‘esports city’ in Riyadh.
Against this backdrop, Saudi Arabia’s recruitment market has witnessed robust levels of activity.
Unemployment fell to 5.1% in Q1 2023, and the Kingdom appears to be experiencing an extra boost
from increasing numbers of women entering the workforce – a factor that is expected to bolster the
nation’s economy to the tune of $39 billion by 2032 according to S&P Global Ratings.
The decision of OPEC+ to limit KSA’s Public Investment Fund From entertainment and sports
oil production until at least (PIF) has unveiled a slew of to infrastructure and real
2024, coupled with voluntary projects in recent years, all of estate, achieving the goals set
cuts from KSA, resulted in a which are designed to unlock out in Vision 2030 will
year-on-year reduction in oil- new sectors as the Kingdom necessitate sustained
related revenues in 2023. This diversifies its economy. With investment, cutting-edge
situation will need to be work on these developments innovation and access to top
handled carefully in 2024, as the now well underway, it is vital talent, both domestically and
Kingdom looks to maintain the that Saudi Arabia continues to globally. KSA must therefore
levels of income and recruitment hit related milestones in 2024. find ways to outmanoeuvre its
necessary to fund the raft of These projects will prove crucial competitors and attract the
development activities taking to the success of Vision 2030. most qualified candidates if it is
place as part of Vision 2030. to continue to deliver on its
promises in 2024.
HEADCOUNT IN KSA
H E A D C O U N T 2 0 2 3 H E A D C O U N T 2 0 2 4
Did your organisation make changes to Does your organisation plan to make
headcount in 2023? changes to headcount in 2024?
Nearly one-third (30%) of KSA-based organisations surveyed made headcount reductions in 2023,
while just over half (52%) increased their numbers. These figures compare unfavourably with those
3
recorded last year, when 21% of respondents reduced their headcount and 57% grew their teams.
Looking ahead, 57% of respondents expect to increase their headcount in 2024, while 29% are
preparing to reduce the size of their workforces.
S A L A R I E S 2 0 2 3 S A L A R I E S 2 0 2 4
Did your organisation revise salaries in Does your organisation plan to revise
2023? salaries in 2024?
Does your organisation plan to pay Does your organisation plan to pay annual bonuses
annual bonuses based on this year's based on this year's financial performance, and by
financial performance? what amount?
Of the 22% of companies that do not intend to pay bonuses, the highest proportions operate in the
fields of construction and consulting. This is unexpected given the unprecedented levels of
development currently taking place in Saudi Arabia, as the nation pushes ahead with a slew of large-
scale projects related to Vision 2030. Equally concerning is the fact that fewer than half of these
construction and consulting firms intend to raise salaries in 2024. Organisations that find themselves in
this position are likely to struggle to attract and retain the best talent in such a competitive recruitment
market – especially among Saudi Arabian nationals.
To ensure the highest possible accuracy of this year’s bonus-related information, Cooper Fitch
surveyed senior-level representatives from businesses across multiple sectors. Managers (28%),
directors (18%) and HR professionals (15%) represented the largest proportions of respondents,
meaning they are ideally placed to comment on their organisations’ anticipated bonus payouts.
TALENT REQUIREMENTS
S E C T O R A L G A P S 2 0 2 4 S K I L L S E T S 2 0 2 4
What do you see as the biggest skill shortage Do you believe there is available talent in the
needed by your organisation for 2024? country to meet your hiring requirements for
next year?
1. Management
2. Leadership
3. Analytical Skills
4. Project Management
5. Emotional Intelligence
6. Engineering
7. Software Development
8. Sales
9. Finance
10. Data Science
The fact that 24% of respondents expect a shortfall in available talent in 2024 will no doubt be a
3
concern for employers, as it indicates that demand for suitable candidates is likely to outstrip supply.
Interestingly, ‘management’ and ‘leadership’ occupied the top spots on both this survey and Cooper
Fitch’s Salary Guide UAE 2024, suggesting that the Kingdom and the Emirates will need to compete
with one another to attract candidates with senior-level experience.
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 8 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
BANKING
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 9 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
BANKING
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 10 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
HUMAN RESOURCES
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 11 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
INVESTMENT MANAGEMENT
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 12 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
LEGAL
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 13 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
MANUFACTURING
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 14 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
PUBLIC SECTOR
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 15 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
REAL ESTATE
ROLES TITLE MIN MAX
DEVELOPMENT Chief Development Officer 145,000 290,000
& DESIGN Executive Director of Development 89,000 191,000
Executive Director of Design 86,000 161,000
Director of Development 67,000 131,000
Director of Design 67,000 119,000
Director of Urban Planning 66,000 112,000
GIS Director 69,000 96,000
Associate Director of Development 58,000 90,000
Senior Development Manager 49,000 81,000
Senior Design Manager 46,000 76,000
Senior Urban Planning Manager 46,000 74,000
GIS Senior Manager 53,000 70,000
Development Manager 32,000 64,000
Design Manager 32,000 58,000
Urban Planning Manager 29,000 52,000
SALES & POST Executive Director of Asset Management 86,000 161,000
CONSTRUCTION Executive Director Facilities Management 81,000 142,000
Executive Director of Sales 81,000 139,000
Director of Asset Management 72,000 101,000
Director of Sales 64,000 97,000
Director of Leasing 58,000 86,000
Senior Asset Manager 56,000 81,000
Director of Facilities 48,000 70,000
Asset Manager 30,000 53,000
Property Manager 27,000 49,000
Facilities Manager 27,000 49,000
Leasing Manager 30,000 48,000
Sales Manager 30,000 48,000
Commercial Manager 21,000 40,000
Project Controls Manager 21,000 40,000
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 16 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
REAL ESTATE
ROLES TITLE MIN MAX
ENVIRONMENTAL Head of Sustainability 86,000 129,000
SOCIAL CORPORATE Head of Innovation 86,000 129,000
GOVERNANCE Heritage Director 64,000 123,000
Senior Environmental Manager 59,000 86,000
Smart Cities Director 62,000 85,000
Environmental Manager 40,000 58,000
CONSTRUCTION & Chief Projects Officer 118,000 269,000
PROJECT Executive Director of Project Delivery 95,000 178,000
MANAGEMENT Programme Director 85,000 149,000
Project Director 67,000 127,000
Director of Infrastructure 75,000 107,000
Procurement Director 58,000 101,000
Director of Project Controls 67,000 101,000
Commercial Director 65,000 99,000
Project Risk Director 65,000 91,000
MEP Director 48,000 78,000
Bid Director 61,000 74,000
Senior Project Manager 45,000 67,000
Senior Commercial Manager 42,000 67,000
Senior Contracts Manager 41,000 66,000
Senior Manager of Project Controls 42,000 65,000
Senior Claims Manager 41,000 64,000
Senior Bid Manager 36,000 61,000
Senior Procurement Manager 39,000 58,000
Project Risk Manager 27,000 56,000
Senior MEP Manager 33,000 48,000
Project Manager 24,000 44,000
Construction Manager 24,000 44,000
Contracts Manager 21,000 40,000
Claims Manager 21,000 40,000
Procurement Manager 27,000 39,000
Bid Manager 21,000 35,000
MEP Manager 19,000 32,000
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 17 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
SALES & MARKETING
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 18 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
SALES & MARKETING
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 19 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
SENIOR FINANCE
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 20 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
SENIOR FINANCE
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 21 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
STRATEGY
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 22 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
SUPPLY CHAIN
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 23 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
TAX
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 24 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
TECHNOLOGY
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 25 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
TECHNOLOGY
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 26 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
TECHNOLOGY
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 27 of 30 Cooper Fitch 2024
KSA SALARY GUIDE 2024
TELECOMMUNICATIONS
The salaries in the above tables are all in SAR and represent total monthly gross salary only. 28 of 30 Cooper Fitch 2024
RESEARCH METHODOLOGY
This year, Cooper Fitch surveyed business O R G A N I S A T I O N S I Z E
leaders responsible for key decision-making at Breakdown of the organisation size by
more than 1,000 organisations across the Gulf number of employees.
region. Our survey posed a selection of 11
confidential questions, which were focused on
recruitment activity, organisational headcounts
and salary trends across 2023 and into 2024.
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