Employers favour Emiratis who have studied abroad, survey finds



DUBAI // Employers are shunning the UAE's increasingly profit-driven universities in favour of graduates who have studied abroad, a study has found.

The UAE has more than 100 universities and colleges, including 37 branches of overseas universities - the most of any country.

This has led to an extremely competitive market - but according to Dr Ali Bhayani, from the University of Wollongong Dubai, while some have chosen to compete on the basis of quality, others have simply sought to maximise enrolment and therefore profit. Dr Bhayani fears that in some cases this has led to compromises on quality. "It might lead to cutting corners," he said.

There are several ways to assess quality, he said, which include employers' perceptions, graduate employability and students' own perceptions of their experience.

"Students do refer to league tables and rankings," he said. "These should be published so parents can make informed decisions."

So far, only three UAE universities are internationally ranked - the American University of Sharjah, Abu Dhabi University and UAE University, all of which appear on the QS World University rankings.

Several of the home campuses of UAE universities also appear on lists such as the Times Higher Education rankings, including the University of Wollongong in Australia, Middlesex University and Heriot Watt University in the UK, New York University and the Sorbonne.

However, the performance of overseas branches is not taken into account in ranking the home campuses, so it is impossible to say whether the education they offer is equivalent. The Ministry of Higher Education is hoping that a new project to improve the information available about universities - on research output and class sizes, for example, will help students and parents make more informed choices.

Prof David Woodhouse, head of the ministry's Centre for Higher Education Data and Statistics, said that while rankings are imperfect, "it is entirely valid for prospective students, employers and others to have information about the real performance of institutions and make comparisons".

"To this end, the centre hopes to give broader access to the underlying data items in a way that will allow any user to create his or her own comparisons of programmes, tailored to his or her particular interests and priorities."

Dr Bhayani said that unregulated free zones have attracted a number of "useless" institutions, some of which have been ejected from Dubai for their lack of standards.

"There can't be fly-by-night universities operating in free zones where the students have worthless degrees," said Dr Bhayani. "Sooner or later there needs to be uniform standards across the country." He wants all universities to be regulated by the ministry's Commission for Academic Accreditation.

Currently, only Dubai has a uniform system for its free zones, where universities are regulated by the Knowledge and Human Development Authority.

Free zone universities in Ajman, Fujairah and RAK have no accreditation on licensing requirement.

For his research, Dr Bhayani interviewed 34 employers in various sectors, asking them which universities they would prefer to take Emirati graduates from. Unanimously, they said their top choice was graduates who had studied abroad, then branch campus, federal universities and in last place, local private universities.

"Private universities don't have a good reputation," said Dr Bhayani. "Branch campuses did better. Employers felt they had better quality."

Employers said graduates from overseas universities had "a more independent attitude".

"The graduates from private universities ... would stay in a job for around eight months and then leave. They [employers] were looking for employees who would be more stable as otherwise the resources of hiring someone are wasted."

Hamza Zaouli, founder of Iris Executives and GovJobs.ae, which focuses on Emiratisation, agreed that overseas education helps Emiratis to be seen as more adaptable.

"The simple fact that Emirati candidates have taken the step to live abroad for a while brings them quite naturally on top of the list, as they have shown at a very early stage a passion for their subject of choice and a willingness to invest in their career," he said. That, he said, puts them in "stark contrast with Emirati candidates who graduate and put working hours and salaries as their main criteria".

He said there is "a clearly pronounced difference in the attitude and maturity" of Emiratis who have studied abroad, even compared with those who studied at a branch campus of a prestigious university.

While private employers do consider graduates from federal universities, not all of them are at the same level. "Zayed University, for example benefits from a good reputation, others not as much," he said.

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Price: from Dh547,600

On sale: now 

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Creator: Lauren LeFranc

Rating: 4/5

Opening day UAE Premiership fixtures, Friday, September 22:

  • Dubai Sports City Eagles v Dubai Exiles
  • Dubai Hurricanes v Abu Dhabi Saracens
  • Jebel Ali Dragons v Abu Dhabi Harlequins
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Transmission: 7-speed automatic with 8-speed sports option 

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hall of shame

SUNDERLAND 2002-03

No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.

SUNDERLAND 2005-06

Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.

HUDDERSFIELD 2018-19

Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.

ASTON VILLA 2015-16

Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.

FULHAM 2018-19

Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.

LA LIGA: Sporting Gijon, 13 points in 1997-98.

BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66

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Find the right policy for you

Don’t wait until the week you fly to sign up for insurance – get it when you book your trip. Insurance covers you for cancellation and anything else that can go wrong before you leave.

Some insurers, such as World Nomads, allow you to book once you are travelling – but, as Mr Mohammed found out, pre-existing medical conditions are not covered.

Check your credit card before booking insurance to see if you have any travel insurance as a benefit – most UAE banks, such as Emirates NBD, First Abu Dhabi Bank and Abu Dhabi Islamic Bank, have cards that throw in insurance as part of their package. But read the fine print – they may only cover emergencies while you’re travelling, not cancellation before a trip.

Pre-existing medical conditions such as a heart condition, diabetes, epilepsy and even asthma may not be included as standard. Again, check the terms, exclusions and limitations of any insurance carefully.

If you want trip cancellation or curtailment, baggage loss or delay covered, you may need a higher-grade plan, says Ambareen Musa of Souqalmal.com. Decide how much coverage you need for emergency medical expenses or personal liability. Premium insurance packages give up to $1 million (Dh3.7m) in each category, Ms Musa adds.

Don’t wait for days to call your insurer if you need to make a claim. You may be required to notify them within 72 hours. Gather together all receipts, emails and reports to prove that you paid for something, that you didn’t use it and that you did not get reimbursed.

Finally, consider optional extras you may need, says Sarah Pickford of Travel Counsellors, such as a winter sports holiday. Also ensure all individuals can travel independently on that cover, she adds. And remember: “Cheap isn’t necessarily best.”

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

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Creator: Jenna Lamia

Rating: 3/5

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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.”

UJDA CHAMAN

Produced: Panorama Studios International

Directed: Abhishek Pathak

Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla

Rating: 3.5 /5 stars

MATCH INFO

Manchester City 1 Chelsea 0
De Bruyne (70')

Man of the Match: Kevin de Bruyne (Manchester City)

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Generational responses to the pandemic

Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:

Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.

Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.

Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.

UAE rugby in numbers

5 - Year sponsorship deal between Hesco and Jebel Ali Dragons

700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams

Dh600,000 - Dubai Exiles' budget for pitch and court hire next season, for their rugby, netball and cricket teams

Dh1.8m - Dubai Hurricanes' overall budget for next season

Dh2.8m - Dubai Exiles’ overall budget for next season

Glossary of a stock market revolution

Reddit

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The users of Reddit

Robinhood

A smartphone app for buying and selling shares

Short seller

Selling a stock today in the belief its price will fall in the future

Short squeeze

Traders forced to buy a stock they are shorting 

Naked short

An illegal practice  

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