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FINANCIAL NEWS
Mercer: Salaries increase in the Middle East this year
21 Jun 2011
(MENAFN) A Mercer report released Monday showed that companies in the Middle East raised executive and managerial pay this year, reported Arabian Business.
The report, which analyzed 406 subsidiaries of multinational organizations, said that executive salaries increased by an average of 5.7 percent and managerial salaries increased even more. This increase was much higher than the increases for executives in Western Europe.
Bahrain’s 6 percent average executive pay increase was the regions highest. Qatar’s 4 percent pay raise was the lowest. Kuwait, with an average 4.5 percent increase, Saudi Arabia, and the UAE, both with 5 percent increases, had the lowest pay raises.
The service, consumer, and high-tech industries saw the highest salary increases, while financial services and energy organizations had the lowest.
The amount of companies in the Middle East holding salaries steady also decreased to 10 percent, down by 50 percent from 2009.
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