UAE private sector employees are well-paid compared to their counterparts in the rest of GCC countries, according to a recent study, which was conducted by a Dubai-based company. According to the new study, salary increase in UAE's private sector companies amounted to 14 per cent versus 12 per cent in Oman, 10 per cent in Qatar, 9 per cent in Bahrain, 9 per cent in Kuwait and 8 per cent in Saudi Arabia.
The study, which was conducted by Fursan Al Hayat Company, found that the private sector salaries are the best in the region. Conducted between June 2006 to June 2007, the study covered a number of companies in the service, banking and finance, insurance, real-estate and oil sectors. Dr. Ali Sharab, a management consultant and CEO of Al Fursan Company, attributed these high salaries to stiff competition for qualified cadres, especially in the services sector. Other factors include, rising costs of living and rapid economic growth.
"Companies should embark on long-term plans to maintain their employees because these employees are constantly changing jobs in search of better salaries." he was quoted as saying by WAM.