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FinancialNews


  • 03-01-18

    UAE real wages predicted to see a drop in 2018

    (MENAFN) The Hay Group declared real salaries in the UAE to be predicted a drop within this year while inflation is to go beyond wage increases.

    An inflation of 4.6% in the UAE joint with no more than 4.1% pay rises indicates that real wages are to witness a drop of 0.5%, based on a calculation conducted by the Hay Group vision of Korn Ferry.

    Associate client partner at the management consultancy Harish Bhatia announced "with the introduction of VAT and subsequently rising inflation in the UAE and Saudi Arabia, we expect to see a drop in real wage increases across the region."

    He continued "the percentage of salary increase or decrease will vary by role, industry, country and region, but one thing is clear, on average, employees are not seeing the same real pay growth they did even one year ago."

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