Due to a lack of qualified candidates, those already employed in the UAE are expected to see a significant salary increase in 2023. According to industry leaders in human resources and recruitment, even passive job seekers, who are currently employed, have been requesting salaries that are nearly double what they were asking for at the beginning of last year.
According to a survey conducted by Bayt and YouGov, 53 per cent of UAE workers anticipate a salary increase in 2023. The survey also found that 57 per cent of those surveyed in the UAE say that their current salary package includes basic pay and benefits, while 26 per cent say it includes just basic pay.
According to Khaleej Times, Raghib Salim, general manager of Nadia Global, a recruitment agency, mentioned, “Because of the scarcity of job applicants, companies have had to increase their salary offers for new hires from below the market rate to the current market rate.” Salim states that early in 2022, passive job candidates who were seeking a 10-15 per cent pay increase when changing jobs, gradually began requesting a 25-30% increase. He said most companies were willing to offer 15-20 per cent to attract working professionals.
Nadia Global predicts that salaries will increase by 10 per cent in 2023, compared to a 5 per cent increase in the previous year.
Additionally, the survey found that the most common benefits offered to employees in the UAE are personal medical insurance, an annual airfare, and gratuity.