General view of the world's tallest building Burj Khalifa and Dubai Mall in Dubai, United Arab Emirates, November 21, 2018. REUTERS/ Hamad I Mohammed
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Salaries for top banking and finance professionals in the Middle East have been slashed by as much as a quarter over the past year as an economic slowdown hit corporate pay in most industries, according to recruiter Michael Page. Pay for senior bankers fell between 20 percent and 25 percent, while salaries for middle-management positions dropped 5 percent to 10 percent, according to the recruitment consultant's annual salary survey. Bonuses have also been cut with the average payout now equaling to one or two months' salary compared with three to four a few years ago.
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