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The Middle East and North Africa Salary Survey 2023 by Bayt.com, the Middle East's #1 job site, and market research agency YouGov, was conducted to gauge employee satisfaction with their current salaries and factors affecting thereof, as well as explore the drivers of loyalty towards employers and the significance of salary in career satisfaction and general wellbeing.
Interestingly, 7 in 10 of UAE respondents (70%) believe salaries are either increasing or staying the same and 53% expect to receive a raise in 2023.
57% of UAE respondents claim that their current salary package consists of basic salary and benefits, while 26% claim that it consists of basic salary only. 18% say it consists of basic salary, benefits, and commission. Additionally, 30% of respondents say that their company pays for overtime.
When it came to the preferred pay structure, two-thirds of respondents (66%) prefer a 100% fixed pay structure, while 25% of respondents said they prefer a partially fixed pay structure with a variable pay for commissions and incentives.
Among the various benefits employees receive, personal medical insurance (46%), personal annual air ticket (33%) and gratuity (27%) are found to be the top benefits in the UAE.
Ola Haddad, Director of Human Resources at Bayt.com says: “Our annual Salary Survey outlines the evolution of current income structure and levels, salary satisfaction and perception towards cost of living, providing an insight to the job market and the economy. Employers need to treat compensation as an integral part of an employee’s reward and monitor major factors driving the salary expectations.”
33% claim that their loyalty to their company is not linked to the salary they receive. Yet, 35% regard their loyalty is linked to the salary in a large to full extent. Apart from salary, opportunities for career advancement (32%), the nature of daily responsibilities (30%) and line manager (27%) are important drivers of loyalty.
When asked about their career plans in the next twelve months, 61% of UAE respondents said they will look for a better job in the same industry, and 43% said they plan to look for a better job in a different industry.
In terms of quality of life, nearly two-thirds of respondents (65%) in the UAE believe they are better off or about the same as other people of a similar generation in their country of residence.
Talking about future investment, 23% make regular financial investments with 12% doing so by investing in their own business.
Zafar Shah, Research Director at YouGov said: “The Salary Survey illustrates the job market from employees’ perspective, helping candidates gauge their worth in the current job market, and promoting employers’ understanding in a way that best serves the business and employees. While financial rewards are key to attracting talent into organizations, non-financial rewards can be essential differentiators when it comes to retaining talent.”
Data for the Middle East and North Africa Salary Survey 2023 was collected online from 16 to 28 November 2022. Results are based on a sample of 2,941 respondents from the following countries: UAE, KSA, Kuwait, Oman, Qatar, Bahrain, Lebanon, Jordan, Iraq, Palestine, Syria, Egypt, Morocco, Algeria, Tunisia, Libya, and Sudan among others.
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