Nearly 65 per cent of UAE residents expect a salary increase in the next 12 months, despite the fact only 32.5 per cent got a raise in the previous 12 months, said yallacompare, a leading comparison site in the Middle East.
The yallacompare Consumer Confidence Tracker for Q1 2019 surveyed more than 1000 UAE residents on the state of their finances and attitudes towards work. It follows similarly sized surveys conducted throughout each quarter of the year.
The Consumer Confidence Tracker Q1 2019 discovered that 64.3 per cent of respondents expect to be given a salary increase in the next 12 months, a slight decrease from the 65.2 per cent that said the same thing in the Q4 2018 survey.
Despite respondents’ optimism about their salary prospects, only 32.5 per cent said they’d received a salary increase in the previous 12 months. More than one fifth (20.7 per cent) said they’d actually experienced a pay cut in the previous 12 months.
“UAE residents’ expectations of a salary increase are high and after absorbing a lot of inflationary pressure over the last 12 months, they feel they deserve to be rewarded,” said Jonathan Rawling, CFO of yallacompare.
“History shows that expectation can sometimes outpace reality, however. If we look back to Q1 2018, 60.7 per cent of respondents expected a salary increase in the next 12 months. In our Q1 survey this year, only 32.5 per cent of respondents said they’d received one.”
The proportion of respondents that feel confident about keeping their jobs remains high at 77.1 per cent, up from 75.2 per cent in Q4 2018. Asked about their sense of job security, 35.8 per cent of UAE residents feel more secure than one year ago, 32.1 per cent less secure and 32.1 per cent about the same.
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