Indian managers looking for job opportunities in the Middle East will find this report interesting.
A Middle East salary survey carried out by bayt.com (a Middle East-based jobs website) shows that while salaries rose by 12-17% last year, the cost of living climbed by 27-28%.
The rise in cost of living was the fastest in Qatar at 38%, followed by the UAE, Oman and then Saudi Arabia at 37%, 31% and 30% respectively.
Not surprisingly, a large number of people across the countries surveyed were unhappy with their pay hikes.
Inflation is a serious problem in the region and governments are struggling to bring it under control. So far they had little success. High oil prices and the resulting economic boom in the Gulf, the pegging of local currencies to the US dollar and the devaluation of the dollar are just a few of the factors responsible for double-digit inflation.
Given the level of refining and petrochemical activity in the region there are plenty of job opportunities, especially for engineers. And salaries are close to top of the scale as can be seen in the chart below.
But the savings potential is falling even as salaries are increasing. Don’t hesitate to negotiate for more with prospective employers.