UAE salaries forecast to increase by 4.5% in 2024 – Cooper Fitch

UAE salaries forecast to increase by 4.5% in 2024 – Cooper Fitch

Workers in the UAE are likely to take home higher paycheques this year, as corporates are expected to grant salary increases of around 4.5% in 2024, recruitment specialists Cooper Fitch said. The rise in compensation will be driven by the strong performance of the country’s non-oil sectors, coupled with an increase in the UAE’s OPEC+ oil output quota and the need for employers to retain top talent, Cooper Fitch said in its report. The talent specialists polled representatives from over 1,000 companies across the Gulf region and among the respondents in the UAE, 53% expect to increase their employees’ salaries this year. The majority of those planning wage increases (39%) expect staff salaries to jump by up to 5%, while 9% of employers plan an increase of between 6% and 9%, and around 5% are preparing for an increase of 10% or more. “More than half of this year’s respondents intend to increase remuneration in 2024. This is positive news for jobseekers in the emirates as greater demand for talent typically results in higher salaries,” said Trefor Murphy, Founder and CEO of Cooper Fitch. Hiring outlook The hiring outlook this year look positive as well, as many businesses are looking