Related: UAE salary guide 2022: how much should you be earning?
The jobs market in Saudi Arabia will continue its recovery in 2022, driven by the kingdom’s Vision 2030 plan and Covid-19 vaccination programme that has eased restrictions for tourism, jobseekers and businesses, according to recruitment specialist Cooper Fitch.
Salaries are also expected to rise by an average of 4 per cent this year, while a majority of employers in the kingdom are planning to reward employees with bonuses, Cooper Fitch says in its 2022 Saudi Arabia salary guide.
“The recruitment market [in Saudi Arabia] for 2022 shows all the signs of an unprecedented year of growth. It will bring considerable pressure on the private sector to retain talent along with acquiring new talent as the drive for [Vision] 2030 continues,” it says.
“We estimate that salaries will increase in 2022 by 4 per cent. We feel this is very conservative given the high demand for talent and the overall recruitment outlook for 2022.”
Over the past four years, Saudi Arabia has created 555,000 new jobs as part of its plan to develop $1 trillion worth of new projects to meet its Vision 2030 plan of diversifying the economy away from oil, according to the General Authority for Statistics.
Business activity in Saudi Arabia’s non-oil private sector economy continued to expand in December despite a slowdown in growth as concerns about the rapid spread of the Omicron coronavirus variant softened demand.
Saudi Arabia’s IHS Market Purchasing Managers’ Index, a gauge designed to give a snapshot of operating conditions in the non-oil private sector economy, slipped to 53.9 in December from 56.9 in November in the Arab world’s largest economy.
However, hiring activity in the kingdom has picked up and is expected to “boom” this year, according to Zahra Clark, the head of Mena for Dubai-based Tiger Recruitment.
“Salaries are also on the rise. One market leader has raised its salaries, which is driving up compensation across the board by as much as 20 per cent as Saudi companies vie for talent,” Ms Clark says.
Meanwhile, the fastest-growing jobs in Saudi Arabia include specialist roles in the cyber security, legal, human resources and technology sectors, according to recent data compiled by LinkedIn.
Big Data, network security and machine learning are some of the fastest-growing skills in the region as businesses accelerate their digitisation plans after the Covid-19 pandemic disrupted operations, the world’s largest professional network said on January 23.
With hiring on the increase, what is the salary and employment outlook for jobseekers in Saudi Arabia this year?
Pay levels expected to increase across Saudi Arabia
While the average salary rise across most sectors will be about 4 per cent, 42 per cent of employers are planning to increase wages by 10 per cent or more, according to Cooper Fitch, which surveyed 600 companies for its 2022 salary guide.
Meanwhile, 68 per cent of businesses in the kingdom will increase their headcounts by 10 per cent or more, the report adds.
This compares with 39 per cent of organisations that increased salaries in 2021 by up to 10 per cent or more in sectors including sales and marketing, legal, human resources, strategy and technology.
Our recent salary survey found that the vast majority [80 per cent] of employers in the kingdom plan to increase their organisational headcount this year – up on the 63 per cent who said the same last year
Aaron Fletcher,
business manager for Hays Saudi Arabia
There is strong optimism for job opportunities and salaries in Saudi Arabia over the next 12 months, according to Aaron Fletcher, business manager for recruitment specialist Hays Saudi Arabia.
“Our recent salary survey found that the vast majority [80 per cent] of employers in the kingdom plan to increase their organisational headcount this year – up on the 63 per cent who said the same last year,” Mr Fletcher says.
“Of those who will be granted a pay rise, this is expected to be by up to 5 per cent on last year”
However, it is important to remember that pay rises are not typically company-wide and instead, are individually determined based on performance or promotion, Mr Fletcher says.
“We cannot generalise that all working professionals in Saudi Arabia will experience a pay rise but the outlook is more positive than last year.”
Will bonuses return in 2022?
In good news for employees, about 80 per cent of businesses say they are planning to pay their workforce a bonus this year, according to the Cooper Fitch salary report.
“Thirty per cent of those will pay three to five months’ gross salary and 49 per cent will pay one to two months’ salary,” the report says.
“A strong recovery for bonus pay outs of 80 per cent shows a positive trajectory [for 2022].”
What benefits will jobseekers be offered in 2022?
Benefits in Saudi Arabia are usually more generous compared with the rest of the GCC region, according to Mr Fletcher.
“With so much development going on in the kingdom and the need for skills so high, we see relocation, housing and education allowances being offered as part of a standard employment package,” he says.
“Within the UAE and rest of Gulf, where talent is more readily available, these benefits are generally only offered to senior, director-level roles and above.”
Benefits will vary from one company to the next and depend on the seniority of employees, says Tiger Recruitment’s Ms Clark.
Typical benefits include allowances for housing, travel, fitness and education, as well as bonuses.
“Whether this will change in the year ahead remains to be seen,” Ms Clark says.
“Flexible working should certainly be on employers’ radar for 2022. Far too few offer it right now despite candidates telling us that it’s one of their top priorities in a new role."
On January 1, the UAE's federal government departments, schools and many private sector businesses switched to a four-and-a-half day working week, while Saturday and Sunday became the new weekend for many. However, it is not known if other GCC countries will follow suit.
“Will Saudi Arabia follow in the UAE’s footsteps by introducing a four-and-a-half day working week? It’s difficult to say but, if our UAE experience is anything to go by, its positive impact on candidate attraction could be significant,” Ms Clark says.
Mr Fletcher agrees: “We have also seen remote working options to be growing in precedence for working professionals and, interestingly, only 35 per cent of employers in Saudi Arabia offer [this]."
What will be the most resilient sectors in 2022?
A range of sectors will experience a boost in demand for talent in 2022 as the country accelerates its Vision 2030 plan, according to Cooper Fitch.
“We see the greatest demand for talent will be within major government restructuring projects, large-scale infrastructure projects, growth in the talent needs for the giga- and mega-projects and private sector growth,” the report says.
“This, coupled with the developing sectors such as entertainment, culture, heritage and destination, [means] there will be a peak demand for talent.”
While it is still early in the year, hiring activity across a number of sectors in the kingdom is "healthy" across the board, says Ms Clark.
“Sectors such as technology, FinTech, private equity and investment banking are particularly busy and is a result of the growth they experienced during the pandemic,” she adds.
Sectors such as technology, FinTech, private equity and investment banking are particularly busy and is a result of the growth they experienced during the pandemic
Zahra Clark,
head of Mena for Tiger Recruitment
Business is booming in Saudi Arabia and the jobs market landscape looks positive throughout 2022 and beyond, according to Mr Fletcher.
“With more and more projects coming into fruition, Saudi has put itself on the map as a fast growing, highly attractive market to do business, resulting in an influx of foreign investment driving job numbers.
“We are also noticing more start-ups locating in the region than previous years, looking to capitalise on the emerging opportunities coming to the country.
“Regionally, Riyadh continues to offer the greatest number of job opportunities as the central hub for business in Saudi Arabia, though Jeddah, Al Khobar, Dammam and the various giga-projects are also providing multiple opportunities.”
Challenges companies face when hiring in 2022
As demand for hiring picks up, employers will have to be decisive and move fast to attract talent, says Ms Clark.
“The market is extremely fast-moving and several employers have recently lost out on their preferred candidate because they dragged their heels,” she says.
“If Saudi employers want to attract and, indeed, secure the best talent, they’ve got to be decisive.”
However, one major challenge employers in the kingdom face is access to skilled, experienced talent as supply is limited and competition among organisations is fierce, according to Mr Fletcher.
About 55 per cent of professionals who took part in the Hays 2022 salary survey anticipated moving jobs in 2022 compared with 44 per cent last year.
“This statistic highlights just how important attraction and retention strategies are in ensuring workforce capabilities and enabling organisations in Saudi Arabia to do business,” Mr Fletcher says.
Efficiency in onboarding processes is another important factor when it comes to attraction and retention of talent, he adds.
“We have witnessed many instances in the past 12 months where professionals have turned down job offers due to lack of correspondence during interview stages and the overall process from interview to job offer exceeding one month.
“With the war on talent high among employers, all of these factors must be considered to secure the most capable professionals and stay ahead of the competition.”
What are the highest paid jobs in Saudi Arabia?
- Banking: head of private banking – 140,000-177,000 Saudi riyals (per month)
- Legal: partner (5+ years) – 104,000-229,000 riyals
- Public sector: secretariat general – 208,000+ riyals
- Strategy: chief strategy officer – 135,000-180,000 riyals
- Senior finance: group chief financial officer – 104,000-150,000 riyals
- Tax (Big4): partner (5+ years): 80,000-115,000 riyals
- Sales and marketing: general manager (FMCG) – 59,000-68,000 riyals; head of corporate communications – 51,000-56,000 riyals
- Manufacturing: managing director – 99,000-135,000 riyals
- Supply chain: general manager – 62,000-94,000 riyals
- Investment management: chief investment officer (public sector) – 130,000-208,000+ riyals
- Technology: chief information & technology officer – 94,000-125,000 riyals
- HR: chief shared services officer – 104,000-156,000 riyals
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20FinFlx%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20January%202021%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Amr%20Yussif%20(co-founder%20and%20CEO)%2C%20Mattieu%20Capelle%20(co-founder%20and%20CTO)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%20in%3A%3C%2Fstrong%3E%20Dubai%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%241.5m%20pre-seed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Venture%20capital%20-%20Y%20Combinator%2C%20500%20Global%2C%20Dubai%20Future%20District%20Fund%2C%20Fox%20Ventures%2C%20Vector%20Fintech.%20Also%20a%20number%20of%20angel%20investors%3C%2Fp%3E%0A
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The biogs
Name: Zinah Madi
Occupation: Co-founder of Dots and links
Nationality: Syrian
Family: Married, Mother of Tala, 18, Sharif, 14, Kareem, 2
Favourite Quote: “There is only one way to succeed in anything, and that is to give it everything.”
Name: Razan Nabulsi
Occupation: Co-founder of Dots and Links
Nationality: Jordanian
Family: Married, Mother of Yahya, 3.5
Favourite Quote: A Chinese proverb that says: “Be not afraid of moving slowly, be afraid only of standing still.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Who are the Soroptimists?
The first Soroptimists club was founded in Oakland, California in 1921. The name comes from the Latin word soror which means sister, combined with optima, meaning the best.
The organisation said its name is best interpreted as ‘the best for women’.
Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
PROFILE BOX
Company name: Overwrite.ai
Founder: Ayman Alashkar
Started: Established in 2020
Based: Dubai International Financial Centre, Dubai
Sector: PropTech
Initial investment: Self-funded by founder
Funding stage: Seed funding, in talks with angel investors
HAEMOGLOBIN DISORDERS EXPLAINED
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
More coverage from the Future Forum
The bio
Favourite book: The Alchemist by Paulo Coelho
Favourite travel destination: Maldives and south of France
Favourite pastime: Family and friends, meditation, discovering new cuisines
Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.
Favourite Author: My father for sure
Favourite Artist: Damien Hurst
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
The biog
Name: Mohammed Imtiaz
From: Gujranwala, Pakistan
Arrived in the UAE: 1976
Favourite clothes to make: Suit
Cost of a hand-made suit: From Dh550
Pakistanis%20at%20the%20ILT20%20
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
The specs: 2018 Kia Picanto
Price: From Dh39,500
Engine: 1.2L inline four-cylinder
Transmission: Four-speed auto
Power: 86hp @ 6,000rpm
Torque: 122Nm @ 4,000rpm
Fuel economy, combined: 6.0L / 100km
The biog
Favourite books: 'Ruth Bader Ginsburg: A Life' by Jane D. Mathews and ‘The Moment of Lift’ by Melinda Gates
Favourite travel destination: Greece, a blend of ancient history and captivating nature. It always has given me a sense of joy, endless possibilities, positive energy and wonderful people that make you feel at home.
Favourite pastime: travelling and experiencing different cultures across the globe.
Favourite quote: “In the future, there will be no female leaders. There will just be leaders” - Sheryl Sandberg, COO of Facebook.
Favourite Movie: Mona Lisa Smile
Favourite Author: Kahlil Gibran
Favourite Artist: Meryl Streep
TOP%2010%20MOST%20POLLUTED%20CITIES
%3Cp%3E1.%20Bhiwadi%2C%20India%0D%3Cbr%3E2.%20Ghaziabad%2C%20India%0D%3Cbr%3E3.%20Hotan%2C%20China%0D%3Cbr%3E4.%20Delhi%2C%20India%0D%3Cbr%3E5.%20Jaunpur%2C%20India%0D%3Cbr%3E6.%20Faisalabad%2C%20Pakistan%0D%3Cbr%3E7.%20Noida%2C%20India%0D%3Cbr%3E8.%20Bahawalpur%2C%20Pakistan%0D%3Cbr%3E9.%20Peshawar%2C%20Pakistan%0D%3Cbr%3E10.%20Bagpat%2C%20India%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20IQAir%3C%2Fem%3E%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Play-off fixtures
Two-legged ties to be played November 9-11 and November 12-14
- Northern Ireland v Switzerland
- Croatia v Greece
- Denmark v Ireland
- Sweden v Italy
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
'Cheb%20Khaled'
%3Cp%3E%3Cstrong%3EArtist%3A%20%3C%2Fstrong%3EKhaled%3Cbr%3E%3Cstrong%3ELabel%3A%20%3C%2Fstrong%3EBelieve%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The specs
Engine: 2x201bhp AC Permanent-magnetic electric
Transmission: n/a
Power: 402bhp
Torque: 659Nm
Price estimate: Dh200,000
On sale: Q3 2022
