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In the UAE, less than one in five professionals (18 per cent) believe that their salary is competitive with other companies in their industry, while the majority believe that their salary is lower than the industry average (64 per cent).
When asked about the industries which offer the highest salaries, oil, gas and petrochemicals (37 per cent), banking and finance (30 per cent) and airline/aviation (29 per cent) emerged at the highest paying industries for UAE respondents.
Fifty one per cent of UAE respondents claim the salary they earn is the main driver behind their loyalty to their company, while one-third (32 per cent) claimed their loyalty is not linked to the salary they receive. Besides salary, long-term career advancement opportunities (40 per cent) and line manager (35 per cent) emerged as the most important factors driving employee loyalty in the UAE.
"This study was especially designed to provide employers with insights into employee satisfaction levels with their salary and raises. This information is key to guiding both employers and job seekers, so the mismatch between salaries offered and expectations can be successfully addressed," said Suhail Masri, vice-president of employer solutions, Bayt.com.
In 2015, around one in five (21 per cent) respondents in the UAE received a promotion, with two thirds of them (62 per cent) receiving an accompanying salary increase.
Close to half of UAE respondents (46 per cent) said they have not received a pay raise in 2015, and 30 per cent of those who did were quite dissatisfied with their raise. In fact, only nine per cent of UAE respondents said their raise was above the inflation rate; 17 per cent said it was in line with the inflation rate, and 52 per cent said the raise they received was below the current rate of inflation.
On the other hand, 36 per cent appear to be very happy or modestly happy with their raise, and 10 per cent believe the pay raise they received last year was fair in light of their contribution to the company.
As for future expectations, a third (33 per cent) of UAE respondents expect a raise of up to 15 per cent, while a little over a quarter (28 per cent) do not expect to receive a raise at all in 2016. Another 16 per cent were unsure of whether they would get a raise.
In the UAE, approximately one in five (21 per cent) professionals receive overtime pay and 43 per cent receive a company bonus or incentive plan. For those who receive a bonus, 67 per cent said they get an annual or year-end bonus, while 35 per cent get an incentive-based bonus.
With regards to additional benefits, more that half (53 per cent) of UAE respondents say they receive personal medical insurance, 48 per cent are allotted a personal air ticket and 31 per cent receive transportation allowance from their companies.
In the UAE, the majority of respondents (58 per cent) claim they plan to find a better job in their industry within the next 12 months, while 37 per cent state that they will be looking for a better job in a new industry. Only 12 per cent of UAE respondents plan on relocating to a different country in the Middle East in search of a better job.
- business@khaleejtimes.com
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