Question from the Job Seeker
With the economy in Dubai the way it is I am considering switching careers from banking where I have been a successful senior marketing executive in a leading financial services multinational for some years to another industry as no banks seem to be hiring these days. What advice can you give me?
Answer From Bayt.com HR Guru
The Middle East banking and finance sector was, without a doubt, one of the hardest hit sectors during the economic downturn. However, the hiring activity has been on the rise through the past quarter and many employers are again conducting some level of hiring activity to replace key personnel and compensate for aggressive downsizing in some cases.
The most recent Middle East Consumer Confidence Studyconducted by Bayt.com shows that 34% of the UAE’s respondents are expecting the employment market to be better in a year’s time, which does not come as a surprise since the UAE remains one of the favorite countries of employment for top professionals from around the globe and continues to offer plenty of opportunities for career growth and advancement for highly qualified talent.
According to the bayt.com Top Industries in the Middle East HR research survey conducted in Q2 2008, the banking/financial services sector in the UAE was, prior to the recession, a preferred industry for UAE talent not least for the attractive financial benefits, working environment, sophisticated training opportunities and plentiful opportunities for career progression and advancement.
My advice to you is, if you love what you’re doing, love where you’re doing it, and have survived the heavy reorganisations in the banking sector of the past 12 months, then be patient. Obviously you are doing something very right and have earned your place in the organisation. Moreover for the sector as a whole the skies appear poised to turn blue again very soon, especially for top professionals in a position to compete – successful seasoned professionals like you!
If you are adamant however about changing industries please read the Career Transition articles in the bayt.com Career Center for valuable tips and tools on preparing and marketing yourself optimally for a mid-career industry change and refer to Bayt’s Top Industries in the Middle East surveys for an overview of what industries in the region are currently hot and hiring!
If you need help preparing a CV for Careers transition you can also consult Bayt.com’s expert Career Services division who are seasoned in preparing professionals for such moves and can help you either edit or write a CV and Cover Letter from scratch. Good Luck!
