If you are hoping to see your salary increase by the end of the year, we may disappoint you. A new study has found that salaries in the United Arab Emirates will register a really slight rise in 2013.
That was reported in the latest research by Morgan McKinley UAE. According to the study, salaries in the country will increase with a maximum of barely 5-6% by the end of the year. Moreover, this prediction is not made for just one industry sector, but for all of them.
Although job opportunities in the UAE are not expected to drop over the next few months, they will also register a modest rise. The report informs that they will increase with an average of 2-3% in 2013. Again, that prediction covers all sectors in the country.
Nevertheless, Morgan McKinley states that the United Arab Emirates’ economic performance is impressive given the current global pressures. Also, the region in general is reported to actually do better than others. The stability in the county will not be affected by the reverberating Eurozone tribulations. Instead, UAE will even mark a positive trend when it comes to hiring of new staff.
The research also outlines the key things that employers in the country will look for in their potential employees. The key of them are expert skills, as well as experience which is above the average.
In addition, the industry sectors which will enjoy the highest growth rates are banking and financial services. Also, retail and manufacturing sectors will too maintain a steady position and they will receive a good amount of consumer confidence.
Morgan McKinley has found that there will be a really high demand for skilled and experienced accountants in various sectors in the country. In addition, pre-contracts managers will also be very searched by employers in the construction industry.
Highest will remain the salaries in the banking and financial services sector, where the average increase with be equal to 5%. Employees in this sector who have a lot of experience and excellent qualifications can receive a maximum of AED 150,000 per month in fields like investment banking and asset management.
The second highest paid industry sector in UAE for 2013 is expected to be the technical one. There, top salaries have the potential of reaching AED 90,000 – AED 95,000 per month. That is especially the case in construction, manufacturing, as well as in power generation.
When making the report, Morgan McKinley UAE took into consideration various factors among which were job title, geographical dispersion, company, longevity in the market, nationality, competitive edge, relocation packages and bonus sizes.