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FINANCIAL NEWS
Hay expects Oman salaries to increase 5% in 2013
24 Nov 2012
(MENAFN) A new report by management consulting firm Hay Group expected Oman salaries’ growth to slow to an average five percent in 2013 from 5.7 percent this year, Arabian Business reported.
Its report analysed salary information for 35,000 employees from 106 organisations in Oman.
Hay Group’s Warren D’Cruz attributed forecast to the optimistic economic climate and investments in national infrastructure.
D’Cruz said the pressure on allowances is not the same as neighbouring GCC members, as employers are increasing salaries rather than adding to allowances such as housing, transport and education.
He added that the majority of pay rises were awarded to supervisory and management level employees.
While Hay Group found that the banking and oil and gas sectors still dominated, the gap between pay in these sectors and the rest of the market was less pronounced than in other GCC markets.
Harish Bhatia, who also worked on the Hay Group report, said The Omani national workforce, although concentrated in the prime sectors of oil and gas and banking, is also well represented across other industries, unlike the UAE and Qatar where more than 70 percent of the national private sector workforce is employed in these prime sectors, thus skewing the market in terms of pay.
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