New Salary Guide 2022 shows an increase in hiring trend in the UAE.
A new study on expected salaries in the UAE in 2022 indicates that workers may be looking at a slight increase in their incomes next year. The Salary Guide 2022 by Cooper Fitch surveyed over 600 organisations across the UAE and asked them a range of questions about recruitment activity, salary trends and bonuses.
More hiring?
While hiring had seen a slight rise in 2021, it is expected to go up further in 2022. As per the study, over half the companies surveyed (52 per cent) said that they made increases to their headcount this year. Next year, almost 60 per cent of the companies said that they were planning to increase their staff, with 21 per cent of these companies planning a hiring increase of 10 per cent or more.
Salary increase
As per the study, salaries in 2022 are expected to increase by three per cent in the UAE, based on the response from the organisations surveyed.
Other key findings of the survey, which are encouraging for job seekers in the UAE, were:
43% – The majority of businesses (43 per cent) said they would be increasing salaries in 2022, with 35 per cent of those increasing by zero to five percent. Four per cent will make increases of 69 per cent and five per cent said they will be making salary increases of 10 per cent or more.
85% – 85 per cent of the organisations increased or made no changes to salaries in 2021. This shows a significant improvement in the job market.
41% – From those surveyed this year, 41 per cent said they increased salaries in 2021. Advisory, HR, manufacturing, technology, strategy and public sector were amongst those who said they made increases of up to 10 per cent.
Which sectors pay the most?
Some of the fields that are expected to pay the biggest salaries next year are real estate (with a Chief Development Officer earning up to Dh247,000 a month), legal (with a partner at a private practice for over five years could earn up to Dh227,000 a month), banking (with a top profile at a private bank earning anywhere between Dh140,000 to Dh175,000) and investment management (with a Chief Investment Officer salary listed as Dh155,000+ a month)
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
