You can expect a pay increase of between 4.7 per cent and 6 per cent next year. That’s according to Towers Watson’s latest Salary Budget Planning Study, which says Middle East employees can expect rises that outstrip inflation in 2016.
More specifically to the UAE, employees here are expected to receive rises of 5 per cent next year – against an estimated inflation rate of 2.7 per cent.
It makes for good reading in these financially challenging times. After all, it's been well documented in The National how many struggle with the UAE's current high cost of living.
But the study jars a little with the word on the street, where workers whisper at the water cooler of pay freezes, secret redundancies and staff not being replaced when someone leaves.
Pay rises may be on the cards, but perhaps it’s only for some.
This is something the study backs up, with most companies admitting to allocating their budget for pay increases to high performers – only a few firms plan to share the love with their entire team.
The research also focuses on private sector companies. Government sector workers may not be so fortunate.
And the study concludes that financial and professional services employees are mostly likely to benefit as well as those working in energy and natural resources.
So if you’re a high-performing worker in the private sector working in financial services, you’re in luck.
arayer@thenational.ae
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