The salaries in the UAE are likely to grow 4.8 percent next year, with the highest hike likely to be in consumer goods, high-tech industries, based on global consultancy, Mercer.
The energy industry, the highest paying sector is expected to see a four percent hike. Sectors such as life sciences and high-tech have evolved due to growing population and need for digital transformation across the whole market, generating more employment opportunities and pay hikes, points our Ted Raffoul, the career products leader, MENA, Mercer.
Although oil and gas, engineering and infrastructure will see the maximum salary hike of three to five percent, a recent survey has revealed that two-thirds of respondents in UAE believe that salaries are either increasing or staying the same.
More than 56 percent of employees expect to receive a raise in 2018 and about 27 percent expect a raise of upto 10 percent.
In another survey based on ‘Top Industries in the Middle East and North Africa’ showed that salary packages in the UAE are best in certain sectors like aviation, banking and finance, government services and military/police.
As for recruitment, according to Mercer, the overall hiring outlook is positive in the UAE, with 50 percent of companies planning to increase their headcount, and 45 percent planning to maintain their headcount. It was also noticed that the highest-ranking executives in the UAE earn more than their peers in the US or the UK.