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67% of professionals in the UAE believe their current salary is lower than that of other companies in their industry, with only 3% stating a high level of satisfaction with their current remuneration. This is according to the 2013 Bayt.com Salary Survey, conducted by Middle East jobsite Bayt.com.
The overwhelming sentiment in the UAE is that the salaries received by those surveyed in their current companies are lower than other companies in their industry. 44% claim they did not receive a pay raise in 2012. The majority of those who did receive a pay increment were given 1-5% (21%), but nearly half are unhappy with the amount received.
“The results of the 2013 Bayt.com MENA Salary Survey suggest that salaries are not keeping pace with the rising cost of living in the UAE,” said Suhail Masri from Bayt.com. “This is a general trend across the Middle East that companies must begin to address; in doing so, they will be able to contribute to building employee loyalty and satisfaction, and will have the opportunity to reduce the number of employees looking to change jobs within the next year.”
UAE respondents are torn with regards to receiving a raise: 27% expect to receive up to 15% and 21% expect to receive more than 15%, while 28% do not expect anything.
The preferred pay structure in the UAE is 100% fixed-pay, with the more preferable incentives being those that are performance-based (62%). Commission for business or revenue generated (25%) and holiday allowances or foreign trips (25%) are also popular.
In terms of their current salary, a fifth of UAE respondents receive their basic salary only, while 65% receive their basic salary plus benefits. A third state that 51-75% of their salary package is their basic monthly salary. Additional benefits received from UAE companies include personal medical insurance (50%), personal annual air ticket (46%), and gratuity (33%).
Six in 10 respondents intend to look for a better job in the same industry in the next 12 months, while 42% will look for a better job in a different industry and a fifth (18%) will look to other Middle Eastern countries for better jobs. This is likely because 31% of respondents believe that there is an excess supply of talent in the UAE, the survey found.