Majority of GCC professionals see no increase in salaries

iStock

If you received a pay hike last year, you are among the lucky few.

According to a new survey by the recruitment firm Hays, nearly 60 per cent of employees in the GCC didn’t get a salary increase in 2019, as employers became more selective with their handouts.

Around four in ten people did get a hike of up to 5 per cent, which is slightly lower than the 5 to 10 per cent increase seen in the previous year.

Individual performance and a new job with a new company were the top factors driving pay rises.

The report found the most significant pay increases (those over 15 per cent) were awarded to professionals within the accounting & finance, and technology sectors. 

At the other end of the spectrum, there were half as many pay cuts experienced in 2019 than in 2018.

Hays surveyed more than 6,800 employers and employees across the Gulf region asking questions about salaries and employment experiences in 2019, as well as their expectations for 2020.

More from Business

Coming Up on Dubai Eye

  • Off Script with Chris, Robbie & Sonal

    5:00pm - 7:00pm

    The UAE’s alternative take on news, entertainment and sport. Join Chris, Robbie and Sonal as they cut through the clutter to bring you the news, entertainment and sport stories that actually matter.

  • Extra Time

    7:00pm - 8:00pm

    Chris & Robbie bring you the latest from the sporting world plus interviews with upcoming and legendary sporting stars.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.