According to a survey of salaries in the United Arab Emirates, you might be earning more money in 2024.
How to make more money during 2024
It is also possible that now is an excellent moment to hunt for the job of your dreams.
The truth is that each and every one of us could use a little bit more money in our own bank accounts. There are some individuals who are on the verge of making that goal a reality.
A recent survey conducted by the recruitment agency Cooper Fitch found that fifty-three percent of companies in the United Arab Emirates (UAE) anticipate raising the compensation of its employees.
Employee rewards in the UAE during 2024
Additionally, there is the possibility of receiving bonuses as well as new employment opportunities in the near future.
According to the Salary Guide UAE 2024 published by Cooper Fitch, which is based on replies from employers in the UAE, it is possible that those working in Dubai will experience an increase in their average wage of 4.5 percent in the year 2024 at the very least.
A total of more than one thousand businesses participated in the poll, and among those businesses, one-third of respondents (39 percent) intend to increase wages by up to five percent. In the near future, nine out of ten companies are planning to raise their salaries by six percent, while five out of twenty companies are getting ready to raise their pay by ten percent or more.
Additionally, if you have been unemployed for a considerable amount of time or are contemplating the prospect of finding a new job, the research has some encouraging news for you as well: 56% of the respondents to the survey for the year are anticipating hiring more people in the year 2024.
The poll identified a number of major trends, one of the most crucial of which is talent acquisition. The most severe talent gaps noted by those questioned this year were in the areas of management and leadership, with management accounting for 16 percent of responses and leadership accounting for 14 percent of responses respectively.
Regarding bonuses, there is also some good news to report in this regard. Compared to the 29 percent of respondents who did not have any plans to do so, over three quarters of those who participated in this year's survey (71 percent) stated that they aim to provide annual incentives to their employees based on the financial performance of their organisation in 2023.
