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

SAP creates new EMEA region and announces new President

SAP has announced it has appointed a new President for a newly-created EMEA region, aiming to make the most of the opportunities of cloud and AI technology

How SAP is facilitating continuous business transformation

Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software

Siemens and Microsoft: Driving cross-industry AI adoption

To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI

Sustainability must become central to corporate strategy

Sustainability

The endless benefits of putting your people first

Leadership & Strategy

Working from anywhere: SAP uncovers secret life of employees

Human Capital