Accounting, finance professionals may get up to 5% salary increase
Accounting, finance and technology professionals are expected to get up to five per cent increase in starting salaries in the Middle East during the year, a latest survey revealed.
Starting salaries for professional occupations in the region are projected to increase an average of 3.8 per cent next year, according to 2014 Robert Half Salary Guide.
Accounting and finance positions are expected to see the largest gains among all fields researched, with an anticipated five per cent increase in the average salary for newly hired workers. Technology professionals can expect starting salaries to rise an average of 4.6 per cent, according to the research.
“The job market for experienced professionals across the Middle East has tightened. What was proving to be a shallow talent pool has further diminished, leaving companies struggling to find local talent and often turning to expatriates to fill critical roles,” Gareth El Mettouri, associate director, Robert Half Middle East, said in a statement.
“While we have not returned to a climate where double digit salary increases are the norm, businesses are looking at their compensation and adjusting levels to both attract and retain the market’s top talent. Periodically benchmarking salaries against industry averages will help businesses remain competitive as they look to grow their operations in 2014,” Half said.
Finance managers, management accountants and financial controllers are in demand.
Qualified accountants will find strong opportunities in the real estate, construction, oil and gas and fast moving consumer goods (FMCG) industries.
Nominal increases in base pay for financial services professionals is seeing starting salaries rise 2.5 per cent over 2013 levels.
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