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19 March 2024

Revealed: How much UAE salaries will rise in 2013

Published
By Shuchita Kapur

Morgan McKinley Dubai has published fresh research data on how much are salaries in the UAE expected to go up in 2013.

There’s good news for all those employees in the country, across a range of sectors, who are looking forward to the annual (or biennial) appraisal meetings. Expected pay-hikes in the UAE are much better than most other regions of the world, according to Morgan McKinley Dubai, a recruitment firm that has just published their UAE Salary Guide 2013.

Much on the lines of last year, average salaries in the UAE are expected to go up by 5 to 6 per cent in 2013, their data reveals.

The salary guide highlights that despite the ongoing global economic issues, the UAE with a GDP growth rate of 3 per cent has been outperforming other regions around the world.

As a result, confidence is returning to the business environment, which is filtering through to the hiring market. Job opportunities are anticipated to rise by approximately 2 to 3 per cent and salaries are predicted to increase modestly by an average 5-6 per cent, said the company.

On the hiring front, financial services and banking seems to be outshining other industries in the country.

“It is identified as a sector set for growth in hiring,” said a statement released by the recruitment firm.

Besides the growing demand witnessed in this particular sector, job roles in accountancy, sales and procurement are expected to be in demand by employers across the region over the remainder of the year. The construction industry is also predicted to see an increased requirement for professionals.

Morgan McKinley figures are close to the data published recently by consulting firm Mercer. Its study revealed that Middle Eastern employees will be looking at a predicted average pay rise of 5.4 per cent for 2013, well above inflation rates.

Estimations for inflation are lower than this figure, which means the predicted increases will result in a real pay growth for the working population – a clear reflection of development in the region, it said.

General salary increase expectations in the GCC region range from 5 to 6 per cent, UAE (5 per cent), Bahrain (5 per cent), Oman (5.1 per cent), Qatar (5.2 per cent) and Kuwait (5.4 per cent), while Saudi Arabia is anticipated to enjoy the highest increase in pay of 6 per cent in 2013.

These figures have remained relatively unchanged over the last couple of years, a sign of the region’s relative economic stability and mature business environment, according to Mercer.