CEOs working in Saudi Arabia are the best paid in the Gulf region with average annual salaries exceeding $422,000, a new survey has revealed.
The survey ranked chief executives in Qatar the second best paid ($399,648) and UAE-based CEOs third ($377,664).
The Gulf Business survey, which said Bahrain CEOs were the worst-paid in the region, was based on CEO’s who are responsible for sales of more than $50m.
The survey highlighted the additional “lifestyle premium” for executives in Saudi Arabia where the pay packets are supplemented with housing, travel and allowances that inflate the salary.
The poll also showed that Arabic CEOs employed over the past year are commanding a 10 percent premium in their salaries compared with Western expatriates due to the demand for Arabic speaking executives.
Kuwait’s churn rate in the market is surprisingly low, the survey said, with pay rises seen as minimal in the current climate.
Oman, where CEOs earn an average of $344,952, was considered to be the one to watch with reference to potential growth in the C-level executive recruitment market.
The survey added that with the unrest and negative sentiment remaining in Bahrain, CEOs salaries were the lowest in the GCC market.
It said the recruitment industry is finding it hard to place people into Bahrain due to the perception of the political climate in the country.
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