UAE infra projects push higher salaries in 2017
Cooper Fitch, in its UAE Salary Guide 2017, said it expects to see increases in salaries and new jobs to be created in the coming year in multiple sectors
Big infrastructure projects will play a major part in the UAE’s recruitment drive for 2017, according to experts.
Cooper Fitch, in its UAE Salary Guide 2017, said it expects to see increases in salaries and new jobs to be created in the coming year within multiple sectors, Arabian Business reported.
After a difficult 2016, which saw slower job creation and, in some instances, consolidation in certain sectors leading to job losses, an estimated GDP growth of between 4-6% across the UAE is expected this year, with oil prices predicted at $55-$65 per barrel.
Trefor Murphy, CEO of Cooper Fitch, said: “We have seen salaries reduced or remaining flat in certain industries and it has been a particularly tough year for the banking and energy sectors.
“We expect to see increases in salary levels and new jobs being made available following a better than expected finish to 2016 and a similar start to 2017.”
Murphy added that we can expect to see more hires for the year ahead, with jobs in consultancy, advisory, legal, strategy and tax, along with big infrastructure projects, playing a major part in the recruitment drive for 2017.
Other areas, including manufacturing and supply chain will also see a recovery this year, as well as the oil and energy sectors to a lesser extent.
“Overall, we predict that salaries will rise by between 4-6%, dependent on the GDP and commodity prices,” Murphy said.