Nearly two-third of the Middle East and North Africa (MENA) region’s employees think that their salaries are either increasing or remaining the same in their country of residence, according to a new survey from the Middle East’s leading job site, Bayt.com and market research agency, YouGov.
The Middle East and North Africa Salary Survey 2021, reveals that 53 percent of UAE respondents state that their current salary package consists of basic pay and benefits, while 33 percent claim that it consists of basic salary only and 14 percent say it consists of basic salary along with benefits and commission.
In UAE, employees have received personal medical insurance (41 percent), personal air ticket (34 percent), gratuity (30 percent), and housing allowance (22 percent) are found to be the top benefits among the others and 68 percent of the emirate respondents said that their company presently offers end of service gratuity.
“The Bayt.com Salary Survey 2021 explores current income structure and levels, salary satisfaction, perception towards the cost of living and expense allocation, providing an insight to the job market and the economy. Employers need to treat compensation as an integral part of an employee’s reward and monitor major factors driving the salary expectations.”
Loyalty towards firm
Among those surveyed, 31 percent claim that their loyalty to their company has no relation with the salary they receive. Another 31 percent regard their loyalty as linked to the salary to the full extent.
Apart from salary, the nature of daily responsibilities (32 percent), opportunities for career advancement (30 percent) and the company brand reputation (26 percent) are seen as important drivers of loyalty.
When the respondents were asked about their career plans for the next twelve months, 55 percent in the UAE said they will look for a better job in the same industry, while 36 percent of interviewees are planning to look for a better job in a different industry.
Finances and Expenses
In terms of quality of life, around 69 percent of respondents in the UAE believe that they are better off or about the same as other people of a similar generation in their country of residence.
Besides, 57 percent manage to save a portion of their income and 43 percent of respondents repatriate up to 50 percent of their savings to their home country. While 17 percent make regular financial investments with 24 percent doing so by investing in their own business.