Managers in Qatar have world’s best ‘spending power’
Manama, September 24, 2008
Hay Group said the study examines the average salary of a management level employee (roughly equivalent to a head of department or function in a large multinational company), applies the relevant tax rate for that salary, and subtracts a generic 'cost of living' measure, to reach a ranking of the relative spending power of managers in 51 countries around the world.
“Spending power of managers in
Vijay Gandhi of Hay Group Middle East, said: 'Going forward, we are not going to witness a paradigm shift in rankings of the Gulf countries in the World Pay Report any time soon. Senior managers continue to get a salary increase of between 15 to 20 per cent, which is very aggressive compared to most other countries.”
The report said managers' spending power appears to have grown over the past year, even after taking into account the potentially inflationary impact of the drop in the US dollar.
All other GCC economies, besides
Hay Group said the methodology used in the study is the company's universal definition of what constitutes a ‘manager’ to ensure that results are consistent around the globe.