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Monday, March 06, 2017

4.6% Average Salary Hike for UAE Workers This Year

This is a good news for UAE employees. They are about to receive 4.6% increase to their salary this year. However, Cooper Fitch, a UAE-based specialist recruitment firm, pointed out that the hiring trends  can vary this year depending on the sector, as their performance may vary from a company to another, directly impacting which will have a direct impact on their salary performance, .  “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,” Trefor Murphy, chief executive officer of Cooper Fitch, said.  The estimated pay adjustments will reportedly be dependent on a 4 to 6 % gross domestic product (GDP) growth and oil prices of between $55 and $65 per barrel. “The outlook for 2017 is improving and market sentiments look reasonably positive,” Murphy added.   However, the salary hike will not be experienced across the board even though it is expected to take effect this year. Cooper Fitch’s latest Salary Guide for 2017 showed that some employees, , are still likely to get some salary reductions, depending on the industry they work in. the lucky ones that are most likely to get the increase are the professionals in the manufacturing 5% , sales and marketing 6 to 10%, legal 3 to 4 % and digital sectors 10 to 12 %. A 5% increase on salaries for those who are working in the audit and risk industry, including auditors and specialist advisers is expected as well.  A somewhat subdued outlook, however, is forecast for accounting and finance employees which, according to Cooper Fitch, are likely to feel downward pressure, as companies resort to more stringent recruitment criteria and rigorous interview process amid an oversupply of qualified workers locally, Gulf News reported.  “The overall salaries across finance functions are only expected to increase marginally above the inflation level in 2017," the report said. Banking and financial services professionals can also expect some decrease ranging between 5% and 7% . RECOMMENDED  BEWARE OF SCAMMERS!  RELOCATING NAIA  THE HORROR AND TERROR OF BEING A HOUSEMAID IN SAUDI ARABIA  DUTERTE WARNING  NEW BAGGAGE RULES FOR DUBAI AIRPORT    HUGE FISH SIGHTINGS

This is a good news for UAE employees including thousands of OFWs working across the Emirates. They are about to receive  an average of 4.6% increase to their salary this year.
However, Cooper Fitch, a UAE-based specialist recruitment firm, pointed out that the hiring trends  can vary this year depending on the sector, as their performance may vary from a company to another, directly impacting which will have a direct impact on their salary performance, .

“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,” Trefor Murphy, chief executive officer of Cooper Fitch, said.

The estimated pay adjustments will reportedly be dependent on a 4 to 6 % gross domestic product (GDP) growth and oil prices of between $55 and $65 per barrel. “The outlook for 2017 is improving and market sentiments look reasonably positive,” Murphy added.



However, the salary hike will not be experienced across the board even though it is expected to take effect this year. Cooper Fitch’s latest Salary Guide for 2017 showed that some employees, , are still likely to get some salary reductions, depending on the industry they work in.
the lucky ones that are most likely to get the increase are the professionals in the manufacturing 5% , sales and marketing 6 to 10%, legal 3 to 4 % and digital sectors 10 to 12 %.A 5% increase on salaries for those who are working in the audit and risk industry, including auditors and specialist advisers is expected as well.
A somewhat subdued outlook, however, is forecast for accounting and finance employees which, according to Cooper Fitch, are likely to feel downward pressure, as companies resort to more stringent recruitment criteria and rigorous interview process amid an oversupply of qualified workers locally, Gulf News reported.

“The overall salaries across finance functions are only expected to increase marginally above the inflation level in 2017," the report said.
Banking and financial services professionals can also expect some decrease ranging between 5% and 7% .


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