Best GCC pay hikes in 2012
By staff - Mon Jan 09, 10:53 am
Employees in countries like Saudi Arabia, Qatar and Oman are likely to see the best pay hikes among Gulf nations this year, according to an expert in the recruitment industry.
Shane Phillips, MENA Regional Practice Leader, Financial & Professional Services at Stanton Chase believes that these three countries will see employees taking home more in the New Year.
“Best pay increases will be in Saudi, Qatar and Oman. Oman is already about 20 per cent below average salaries in UAE, KSA and Qatar – so they are going to need to raise salaries if they want to hire qualified people. Lowest pay hikes will be in Bahrain and Kuwait as these two geographies will continue to struggle as they move forward,” he told Emirates 24|7.
According to experts at job portal bayt.com, Qatar ranks the highest in the GCC when it comes to salaries. “When it comes to average personal income, Qatar reports a higher average in the GCC, Lebanon in the Levant, and Morocco in North Africa,” said Amer Zureikat, VP Sales at Bayt.com.
However, there are some experts who opine that salary hikes will not be limited to one particular country or industry but will be more case and individual specific.
“There is not a tendency in region, country or sector for salary decreases. These will be connected mainly with the performance of a specific company and the specific person. Similarly, with the exception of the remuneration offered to nationals in the governmental sectors of specific countries, there are no expectations of massive increases in salaries. Increases will be connected again with the performance of the company and of the specific person,” Konstantina Sakellariou, Partner, Marketing& Operations Director at Stanton Chase told this website.
Talking of most promising industries that are likely to hire, the bayt.com expert commented: “[Our] survey showed that across the region, the industries that are perceived to be attracting or retaining top talent are banking and finance (36 per cent), telecommunications (35 per cent), and construction (31 per cent). Commerce graduates or postgraduates are most likely to be hired, with 23 per cent of organisations across the MENA region favouring employing staff that are qualified in this field. Furthermore, graduates or postgraduates in business management and computer science are equally sought after by the region’s organisations.
“[On hiring perspective], 31 per cent of employees in the GCC believe that they will be hiring in a year’s time, as compared to 26 percent of employers in the Levant and North Africa.”