Emirates Airline is the most attractive employer for business studies students in the UAE, while Google is the employer of choice for students of engineering and IT, according to a new survey.
The Swedish research company Universum Global quizzed 8,100 students from 28 universities in the UAE on their career goals and ideal employers between November 2016 and July 2017 as part of its Global Talent Survey.
Emirates, the world's largest operator of A380 superjumbo aircraft, moved up from seventh in 2016 to upstage Google as top employer for UAE-based business and commerce students. Google maintained its position as the most favoured company for students in the engineering/IT field.
"This clearly proves how UAE is a real emerging market where many organisations, both nationals and multinationals, are engaging in a true war for talent in order to secure the best and the brightest" says Claudia Tattanelli, the chairwoman of the strategic advisory board at Universum. "One of the unique and interesting aspects about the UAE's ranking tables compared to other countries is the near equal presence of national and regional firms versus international firms fighting it out for places within the top 10.
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This year, Google was the second most attractive employer for business and commerce students, followed by Apple, Dubai-based Emaar Properties, the emirate's biggest listed real estate company, and Etihad Airways.
In last year’s survey, Google was followed by Apple, Emaar, Dubai Airports, the operator of Dubai International and Al Maktoum International airports, and Etihad.
For engineering and IT students, Google was followed this year by Emaar, Apple, Microsoft and Emirates. In last year's survey, Google was followed by Apple, Microsoft, Emaar and the Abu Dhabi-based clean energy firm Masdar.
According to the Universum's survey, 14 per cent of the respondents said their preferred industry for work is management and consulting, followed by banks and arts, entertainment and recreation each favoured by 13 per cent and energy by 12 per cent.
The career preferences of Emirati students are starkly different from those of non-Emirati students, according to the survey.
Management and strategy consulting and finance services were the preferred employment sectors of choice for Emirati business students, while their non-Emirati peers prefer banking and financial services.
Emirati engineering/IT students favour the energy sector, followed by the industrial engineering and manufacturing sectors. Construction and civil engineering meanwhile is the top choice for non-Emirati students, followed by energy, and industrial engineering and manufacturing industries.
Universum's survey found that both Emirati and international students in the UAE are increasingly using social media channels as a means of researching prospective employers, said Ms Tattanelli.
“This renders it even more important for companies to have a well-defined, multi-channel digital strategy that can cut through the noise that currently exist on many platforms and utilise such platforms as Facebook, Instagram or Snapchat more effectively to enhance their attractiveness among their key target groups,” she said.
In last year’s survey, which polled 7,637 students from 30 universities, 16 per cent of respondents wanted to work in energy and 16 per cent wanted to work in engineering and manufacturing, followed by media and advertising with 15 per cent.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Part time contracts
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Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Specs
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Engine: 3.9-litre twin-turbo V8
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Director:Jason Orley
Stars:Jenny Slate, Charlie Day
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COMPANY PROFILE
Name: N2 Technology
Founded: 2018
Based: Dubai, UAE
Sector: Startups
Size: 14
Funding: $1.7m from HNIs
SPECS
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Five personal finance podcasts from The National
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Should you buy or rent a home in the UAE?
War
Director: Siddharth Anand
Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor
Rating: Two out of five stars
UAE currency: the story behind the money in your pockets
MEFCC information
Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.
PROFILE BOX:
Company/date started: 2015
Founder/CEO: Rami Salman, Rishav Jalan, Ayush Chordia
Based: Dubai, UAE
Sector: Technology, Sales, Voice, Artificial Intelligence
Size: (employees/revenue) 10/ 100,000 downloads
Stage: 1 ($800,000)
Investors: Eight first-round investors including, Beco Capital, 500 Startups, Dubai Silicon Oasis, Hala Fadel, Odin Financial Services, Dubai Angel Investors, Womena, Arzan VC
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Gran Gala del Calcio 2019 winners
Best Player: Cristiano Ronaldo (Juventus)
Best Coach: Gian Piero Gasperini (Atalanta)
Best Referee: Gianluca Rocchi
Best Goal: Fabio Quagliarella (Sampdoria vs Napoli)
Best Team: Atalanta
Best XI: Samir Handanovic (Inter); Aleksandar Kolarov (Roma), Giorgio Chiellini (Juventus), Kalidou Koulibaly (Napoli), Joao Cancelo (Juventus*); Miralem Pjanic (Juventus), Josip Ilicic (Atalanta), Nicolo Barella (Cagliari*); Fabio Quagliarella (Sampdoria), Cristiano Ronaldo (Juventus), Duvan Zapata (Atalanta)
Serie B Best Young Player: Sandro Tonali (Brescia)
Best Women’s Goal: Thaisa (Milan vs Juventus)
Best Women’s Player: Manuela Giugliano (Milan)
Best Women’s XI: Laura Giuliani (Milan); Alia Guagni (Fiorentina), Sara Gama (Juventus), Cecilia Salvai (Juventus), Elisa Bartoli (Roma); Aurora Galli (Juventus), Manuela Giugliano (Roma), Valentina Cernoia (Juventus); Valentina Giacinti (Milan), Ilaria Mauro (Fiorentina), Barbara Bonansea (Juventus)
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PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
The specs: 2019 GMC Yukon Denali
Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm
Fuel economy, combined: 12.9L / 100km