In 2024, employees and job seekers in the UAE can anticipate positive developments, with salary projections indicating an average increase of 4 to 7 percent. This uptick is attributed to a robust job market and a growing demand for skilled professionals, as highlighted by recruitment experts.
Cooper Fitch’s UAE Salary Guide 2024 underscores the favorable shifts in the recruitment landscape, fueled by the Emirate’s ongoing dedication to economic diversification and technological advancement. Founder and CEO, Trefor Murphy, notes an increase in organizations expanding their workforce compared to previous years, with over half of surveyed respondents planning to raise remuneration in 2024.
The UAE’s employment scene has rebounded strongly from the pandemic-induced slowdown, supported by government initiatives aimed at bolstering the economy. Through economic reforms, legal adjustments, and social initiatives, the UAE aims to enhance its business environment, attract foreign investment, introduce new visa programs for skilled workers, and provide incentives for business expansion.
While the influx of talent has transformed the UAE into an employers’ market, heightened competition for roles has led some candidates to accept lower salaries to kick-start their careers. Consequently, this dynamic has influenced the overall market rate and restrained wage growth, as noted in the Robert Half 2024 Salary Guide.
The UAE’s appeal to international talent is evident, with the country ranking as the world’s top destination for employment visas, according to a report by global HR platform Deel. This trend underscores the UAE’s commitment to talent, innovation, and a dynamic business landscape, positioning it as a leading global hiring hub.
As outlined in the Michael Page 2024 Salary Guide, salary remains a primary factor driving job moves in the UAE, with approximately 73 percent of candidates planning to stay for at least five years. Meanwhile, compensation continues to play a pivotal role in attracting and retaining top talent from around the world.
Looking ahead to 2024, salary specialists anticipate an average salary increase of 4 to 7 percent. However, the extent of this increase may vary depending on factors such as sector, performance, and employers’ budgets. Employees demonstrating exceptional performance and contributing to business growth are likely to negotiate higher salary increments based on merit. While expectations hover around a 3 to 6 percent raise, some individuals could see increases as high as 7 percent, according to industry experts.