UAE is the GCC's most promising country for salary hikes in 2012 - Emirates24|7

UAE is the GCC's most promising country for salary hikes in 2012

The UAE stands at the 19th position in terms of the best salary increment expected in 2012, according to a new study by recruitment platform MyHiringClub.com and NriJobPortal.com.

The UAE is seen leading the GCC in terms of expected salary hikes this year, followed by Saudi Arab, Kuwait, Qatar and Bahrain. The country improved its position by two slots this year.

Globally, salary increment in 2012 of employees is expected to be highest in Denmark (15.49 per cent), followed by Ireland (15.31 per cent). The UK ranks 3rd with an average 15.09 per cent hike followed by Switzerland with a 14.89 per cent salary increment. The other countries high on the list include Belgium (14.76 per cent), Germany (14.57 per cent), US (14.33 per cent) Australia (14.21 per cent), Hong Kong (14.19 per cent) and India (14.03 per cent), the survey said.

Despite a subdued economy in the United States, the study has put the country on the 7th slot with an expected 14.21 per cent increment. However, the country has come down to this position from the 2nd slot last year. The study highlights that India remains one of the most favourite outsourcing destinations due to this cost factor and as of now is ranked 9th in the top ten best salary increment outlook globally.

Countries like Bulgaria, Vietnam and the Philippines have received the lowest ranking with 4.03 per cent, 4.13 per cent, and 4.21 per cent salary increment in 2012. Worldwide average 2012 salary increment outlook is 10.19 per cent.

“The US Job market had initialised their recruitment processes after the crisis and it is expected to pick up momentum in the next 2 to 3 months. The country has declined by five positions in 2012 salary increment outlook list, but companies in the US plan to give some healthy increments and incentives to their employees. Countries like Switzerland, Ireland, Australia, Hong Kong are increasing their salary packages to attract and retain talented employees for minimising their higher attrition rate,” said Rajesh Kumar, CEO, MyHiringClub.com

The study compared the total annual cash compensation and total remuneration information of 5,326 companies in 31 different countries between 15th December, 2011 to 31st December 2011.

GCC countries ranking

UAE - 8.02%

Saudi Arabia - 7.43%

Kuwait - 7.30%

Qatar - 7.12%

Bahrain - 6.86%

2012 salary increment outlook in top ten countries worldwide

Denmark - 16.49%

Ireland - 16.27%

UK - 16.02%

Switzerland - 15.76%

Belgium - 15.57%

Germany - 15.45%

Australia - 14.79%

US - 14.21%

Hong Kong - 14.19%

India - 14.03%

2012 salary increment outlook in ten lowest countries

Bulgaria - 4.03%

Vietnam - 4.13%

Philippines - 4.21%

Thailand - 5.16%

Malaysia - 5.67%

Indonesia - 5.91%

Portugal - 6.19%

Austria - 6.21%

Norway - 6.37%

Bahrain - 6.86%

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