FINANCIAL NEWS

UAE wages expected to increase 5.5% in 2013: Study

23 Sep 2012

(MENAFN) A new study conducted by management consultancy firm Hay Group expected salaries in the UAE to grow by 5.5 percent in 2013, after a 4.9 percent increase in 2012, Arabian Business reported.

The 2012 UAE compensation and benefits report also mentioned the still ongoing challenges facing recruiting UAE nationals in the private sector.

The report based its estimates on a survey conducted on almost 237,000 employees from 532 companies and 16 industries mainly within the private sector.

Harish Bhatia, manager at Hay Group for the Middle East, said 85 percent of UAE companies increased salaries this year, with oil and gas and financial services paying the highest salaries.

The report also found that the turnover of UAE nationals in the private sector is 14 percent, double the turnover of expats, although they are paid 44 percent higher than the market average.

More western expatriates are now planning to stay in the UAE for the longer term, given the dim outlook of Europe and North America economies, Bhatia said.

He added that expats from emerging markets like China, Korea and India are also starting to demand higher packages, particularly for skilled and technical roles.

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