UAE Salary Guide expects wages to increase in 2017

By Bizclik Editor

Cooper Fitch has announced in its UAE Salary Guide 2017 that it expects to see increases in salaries as well as new jobs being created in the coming year.

The report noted how 2016 was a flat year for the UAE, which saw slower job creation and higher job losses.

“We have seen salaries reduced or remaining flat in certain industries and it has been a particularly tough year for the banking and energy sectors,” said Trefor Murphy, CEO of Cooper Fitch.

“Banking remains uncertain for 2017 with a significant number of mergers planned for the next 12 months.”

The report shows the year ahead in a positive light, noting the estimated GDP growth of between 4-6 percent, with oil prices predicted at $55-$65 per barrel.

“We expect to see increases in salary levels and new jobs being made available following a better than expected finish to 2016 and a similar start to 2017,” Murphy said.

“We are seeing new hires for the year ahead, with jobs in consultancy, advisory, legal, strategy and tax, along with big infrastructure projects, playing a major part in the recruitment drive for 2017.”

Areas such as supply chain, manufacturing, energy and oil and gas sectors have shown signs of improvement for the new year, with job creation increasing for 2017.

“Overall, we predict that salaries will rise by between 4-6 percent, dependent on the GDP and commodity prices,” Murphy added.

Share

Featured Articles

Age of the CISO – a new chapter for cyber security

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Exclusive: Making the UAE a global force in cybersecurity

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on plans to build the world’s most secure digital society for a safer society

UAE cyber leaders – back to basics to prepare for the future

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the future of cybersecurity

Top 10: Procurement & Supply Chain LIVE speaker highlights

Leadership & Strategy

10 apps to improve wellbeing on World Mental Health Day

Leadership & Strategy

Meet the COO: Brook Sims of MAC Diversity Recruiters

Leadership & Strategy