Reed launches Mideast salary guide
Dubai, March 27, 2013
Leading recruitment firm Reed has recently released its Middle East Salary Guide for 2013, which encompasses a detailed analysis of salary expectations in multiple employment sectors.
The guide highlights emerging trends in different economic sectors of the region and gives signs that the Gulf is on its way to full economic recovery after feeling the pinch over the past few years.
One example Reed highlights is a considerable recovery of salaries in the banking sector since the financial crisis to now head the list of earners in its newly published guide.
“The banking sector has recovered considerably since the financial crisis of a few years’ ago,” said Matt Foster, Reed’s regional director, EMEA.
“Salaries have regained to internationally attractive levels, although opportunities are expected to be limited over the next 12 months.”
The company’s Dubai team found that a combination of rental inflation, manufacturing growth and continuing Middle Eastern tension is pushing up wages in the emirate.
“This year, we’re seeing housing rents go up further in Dubai, as well as continued economic growth and a feeling of optimism,” Foster said. “As a result, experienced professionals are seeking new opportunities and getting more aggressive in their salary negotiations."
“And although the UAE is a stable country, the continuing tension in other parts of the region has caused a degree of unease among people from Western Europe, Australian and the North America thinking of locating here. As a result they are demanding bigger compensation packages.”
Foster highlighted the manufacturing sector as an area of particular wage growth, fueled by the expansion of companies including Emirates Aluminium and the resulting migration of experienced professionals to fill new vacancies.
Focusing on Qatar, Bernard Ward, country director, said the year ahead will bring a dramatic increase in blue collar workers hired for the numerous construction jobs the country has in the pipeline, in addition to key white collar hires to add value to the projects.
“Salaries are going up, particularly in construction” he said. “The white collar skills that are required in Qatar to assist in fulfilling the many exciting projects are few and far between. There are only a handful of such candidates in the world whom can fulfill certain roles, which puts upward pressure on wages.” – TradeArabia News Service