Dear reader, An increase in the UAE population is expected to drive down salary growth next year, a major survey by Cooper Fitch has found. With persistent inflation and rising rent costs, this could strain household budgets. But on the bright side, real estate, technology, aviation and banking are continuing to create thousands of new jobs. Ras Al Khaimah, Abu Dhabi and Dubai ranked among the top 10 global cities <a href="https://www.thenationalnews.com/business/money/2024/07/05/uae-ranked-10th-best-destination-to-live-and-work-for-expats-in-2024/" target="_blank">for foreign residents to live and work</a> - with RAK ahead of the two big cities - a report by InterNations shows. Expats praised the <a href="https://www.thenationalnews.com/news/uae/2024/11/01/uae-measles-vaccination/" target="_blank">availability and quality of health care</a>. Pavel Starndh and Stefanie Alecrim, featured in the My Salary series, moved to the UAE from Sweden to avoid paying high taxes and now aim to live within or below their means. They earn income from their day jobs and <a href="https://www.thenationalnews.com/business/money/2024/06/18/my-dubai-salary-i-earn-up-to-dh30000-a-month-from-investments-and-side-hustles/" target="_blank">side hustles</a>. The couple avoids expensive brunches, opting instead to invest that money so it can compound in value over time. “I could do a lot more fun things with this money in the future,” Mr Strandh says. Scroll down for this week’s expert tip on how to ask your boss for a pay rise, and share your own tips with us at <a href="mailto:pf@thenationalnews.com">pf@thenationalnews.com</a>. The average professional will see little or no salary growth next year, a poll of more than 1,000 companies in the Gulf has shown. Recruitment firm Cooper Fitch said wages in the UAE would be largely flat next year due to a surge in <a href="https://www.thenationalnews.com/news/uae/2024/08/08/dh2bn-housing-plan-for-emiratis-to-support-uaes-rapid-growth/" target="_blank">population </a>and influx of jobseekers. The report was published as inflation in Dubai runs at 3 per cent and 2.4 per cent nationwide, driven by rising rents, which would feel like a wage cut for many. The UAE led the Gulf in terms of <a href="https://www.thenationalnews.com/business/technology/2023/11/29/ai-led-digital-transformation-set-to-accelerate-creation-of-new-jobs/" target="_blank">job creation </a>in the third quarter of this year with an 8 per cent increase. <a href="https://www.thenationalnews.com/business/money/2024/11/27/uae-jobs/" target="_blank">Read the full story by Deepthi Nair …</a> Pavel Strandh, a Swedish management consultant, and his partner Stefanie Alecrim, a Brazilian legal counsel, moved to the UAE last year from Sweden, where they were paying more than 50 per cent of their<a href="https://www.thenationalnews.com/business/money/2024/02/12/uae-salary-guide-2024/" target="_blank"> income in taxes.</a> Moving to the UAE has cut those costs significantly and has allowed the couple to work on a five-year plan to <a href="https://www.thenationalnews.com/business/money/2024/02/23/what-are-the-steps-to-achieve-financial-freedom/" target="_blank">achieve financial freedom</a>. They earn income from their day jobs and <a href="https://www.thenationalnews.com/business/money/2024/06/18/my-dubai-salary-i-earn-up-to-dh30000-a-month-from-investments-and-side-hustles/" target="_blank">side hustles</a>. “We plan to become <a href="https://www.thenationalnews.com/business/money/2024/05/17/money-me-id-like-to-be-financially-independent-by-40/" target="_blank">financially independent </a>by 2030,” says Mr Strandh, 27. The couple, who live in Business Bay in Dubai, save and invest their money together. <a href="https://www.thenationalnews.com/business/money/2023/01/12/eight-essential-money-questions-to-ask-your-partner/" target="_blank">Discussing financial goals </a>is a daily topic, says Ms Alecrim, 25, who has a bachelor’s degree in law from Brazil and a master’s degree in international arbitration from Stockholm University. <a href="https://www.thenationalnews.com/business/money/2024/11/26/my-dubai-salary-my-partner-and-i-earn-dh40000-per-month-and-invest-60-per-cent-of-it/" target="_blank">Read the full story by Deepthi Nair …</a> Ras Al Khaimah ranked above Dubai in list of the <a href="https://www.thenationalnews.com/business/money/2024/11/26/ras-al-khaimah-abu-dhabi-and-dubai-ranked-among-top-10-cities-for-expats/" target="_blank">best cities for expats to live</a> Celebrity Net Worth: <a href="https://www.thenationalnews.com/business/money/2024/12/02/celebrity-net-worth-richard-gere-sells-us-mansion-for-1075-million/" target="_blank">Richard Gere sells US mansion </a>for $10.75 million Billionaires: <a href="https://www.thenationalnews.com/business/money/2024/11/25/billionaires-gautam-adanis-conglomerate-scraps-600m-bond-sale-after-us-bribery-charges/" target="_blank">Gautam Adani's conglomerate </a>scraps $600 million bond sale after US bribery charges A pay rise is essential to help employees cope with the rising cost of living. There is no secret to success when it comes to negotiating a pay rise, but being confident about your value will help your case. Before asking for a raise, employees should conduct their own research about the typical salary range for their roles and gather evidence of their achievements in the workplace, recruitment experts say. Be prepared to explain why you deserve a pay rise, such as by meeting key performance indicators, how you have developed in your job role and how you have contributed to the company’s success. Avoid referencing a colleague’s pay rise to bolster your own case or using another offer to negotiate with your current employer. Choose your time wisely when asking for a pay rise. The easiest time to negotiate is during your annual performance review. <i>Have you got a great money-saving tip? Email it to us at </i><a href="mailto:pf@thenationalnews.com" target="_blank"><i>pf@thenationalnews.com</i></a><i> for a chance to be featured.</i>
