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UAE Salaries To Rise 4.8% In 2015

UAE Salaries To Rise 4.8% In 2015

Salaries across the GCC are predicted to rise by five per cent in 2015, according to Aon Hewitt.

Salaries across the UAE are predicted to rise 4.8 per cent in 2015, down slightly compared to the figures forecast for 2014, according to a latest study by the human resources consultancy Aon Hewitt.

The remuneration levels in the UAE were forecast to rise by 5.1 in 2014 but the actual level of increase fell short as salaries rose by just 4.6 per cent, the study showed.

Salaries across the GCC are also predicted to rise by five per cent in 2015, Aon Hewitt noted.

Companies in Oman and Saudi Arabia are forecast to give the highest salary increases at 5.4 per cent in 2015, down just slightly from the figures in 2014, the study said.

Meanwhile, Bahrain has the lowest salary increase at 4.5 per cent while Qatar and Kuwait’s forecasts were at 5.2 per cent and 5.3 per cent respectively.

The results were in line with a salary survey conducted by Gulf Business earlier this year, which was compiled using inputs from four regional recruitment companies including Nadia, BAC Middle East, Adecco Middle East and Charterhouse.

The survey indicated that an average salary of an expatriate in the Gulf dropped just over two per cent in the last year.

“Over the last two to three years, as people are leaving, companies are taking the opportunity to hire the same standard of worker but at slightly lower salaries,” said Ian Giulianotti, associate director HRM Consulting, Nadia, which participated in the survey.

Cost sensitivity was a major factor cited by several of the participating recruiters, with companies still engaging in restructuring and outsourcing to reduce overheads.

“Whilst demand drives a market upturn, talent supply remains relatively buoyant and strong. Employers continue to have cost at the forefront of their mind linking back to the previous overheated market and wage trend,” said Gareth Clayton, director of financial and professional services at Charterhouse Middle East.

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