The 2019 MEIRA Practitioners Report produced in conjunction with Carter Murray is a leading report in the region. It identifies the key opportunities and challenges facing the IR function, particularly given some of the changes in the Middle Eastern capital markets. In addition the report looks at the survey results to identify trends in career backgrounds and aspirations, skills required and the remuneration of IR professionals. Below is a section of the report. To access the full report, please complete the form below.
The remuneration results are clearly somewhat impacted by the level and experience of respondents and given that 44% are IR Directors or Head of IRs, we would expect to see salary levels at the higher end. Interestingly, there has been a stark decline in those earning under $50,000 per annum to 14%, from 30% in 2018 and 17% in 2017. In parallel with this, those earning between $50,000-$100,000 have increased to 42%, from 27% in 2018 and 30% in 2017. This is another really positive indicator that salaries are increasing and companies are willing to pay more for IR talent. 54% are satisfied with their current base salary while the remainder would be looking for an increase.
A very encouraging percentage of IROs (79%) saw an increase in their base pay year on year, with the majority of those (64%) receiving an increase between 1-20%. 91% of IROs received a bonus in the last year, a slight increase on 2018 of 87%. Interestingly, those getting 1 or 2 months’ salary equivalent has increased significantly to 47% in 2019, compared to 31% in 2018 and 37% in 2017. The inverse of this is that those on three months’ equivalent have reduced from 28% to 20%. And similarly those on four months’ equivalent have reduced from 15% to 6%. Overall, we can conclude that bonuses have reduced over the last year, however, total compensation is likely to still be higher given that base salaries have increased.
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