The UAE today is nothing less than a land of opportunities. With expat population forming a strong majority in the country, there’s no denying the fact that every talented professional in the world wants to make a run for an Emirati corporation, be it in any field.
The seven well-woven emirates account for a chance to grow amongst industry experts and learn the most efficient industry practices that make all the difference in globally proliferating sectors like finance, manufacturing, real estate and human resources. From the likes of leading a lavish professional life, to letting your children getting nurtured amongst globally renowned education institutions, there’s so much to look forward to. However, of late, there’s been a surge in the country, regarding a salary hike for employees in a majority of sectors. The section to follow will throw some light over the same.
A Pay Raise For All UAE Employees
Although, the year 2014 came with a multitude of good numbers for the working class in this country, 2015 too has something great to look forward to. The employees in the country are all set to enjoy a salary hike of nearly 5-6%, as suggested by a reputable source.
The hike might have seen a dip when compared to previous years, but it majorly has been due to the uncertainty regarding oil prices in the country. It can easily be assumed that the long lying year ahead would’ve been a bumper one, provided that the hydrocarbon sector hadn’t seen a dip.
In addition to this, it is also suggested that the number of jobs to be created would be up by 10-12% in all non-oil sectors. Plus, reports by Mercer suggest that employers all across the country have been planning to grant a median increase of 5% in remuneration, in all the sectors, nearly.
The imperative thing to consider over here is that employers soon might face a challenge while sourcing new candidates from within the country, with employees getting more careful about moving jobs within and across sectors in the Emirates. In such a case, importing talent from abroad seems like the most viable option for a multitude of hiring managers in the Emirati corporations. This fact holds true for a majority of multinationals, FMCG, healthcare, government, banking and manufacturing organizations.
However, with EXPO 202 nearing, there are chances that the numbers for pay-raise and employment might just witness an ascent.
Wages in Construction Sector on the Uphill Too!
It has been quite conspicuous that the wages in Abu Dhabi, specifically in the construction sector here have risen by 17.4% in the past 12 months (as in July 2015). In spite of the inflation having taken a toll with a chunk as high as 5%, the real wage growth stood at a high figure of 12% during July 2015.
However, this sector accounts for just under a quarter employment figures in the sector, but the wage increase has definitely vouched for the lucrative jobs in Abu Dhabi. This has majorly been possible due to the economic growth in countries like India, which led to a multitude of Emirati real estate firms going for a pay hike as high as 17% to retain their expat workforce.
The indication is quite clear, sectors in the UAE and specifically in Emirates like Abu Dhabi and Dubai are all set to offer opportunities with heft pay packages. All that’s required is to hone one’s skills-set and nurture the professional network. Rest, the country has immense in store for every skilled individual.