45% of professionals in the Middle East and North Africa (MENA) are not happy with their current salaries, as revealed in the latest Bayt.com Middle East and North Africa Salary Survey 2016. According to the survey results, less than one in five professionals (19%) believe that their salary is competitive with other companies in their industry, while the majority believe that their salary is lower than the industry average (63%).
With the current poor economy and poor corporate performance and profitability, and many other factors standing between professionals and higher salaries, the number of dissatisfied professionals is only expected to rise.
As a result, professionals across the MENA are considering a career change soon. According to the Bayt.com Middle East and North Africa Salary Survey 2016, more than half of them (53%) are looking for new opportunities in the same industry; 31% are searching for opportunities in a different industry; and 25% are looking for jobs in another country altogether.
If you’re on the hunt for a higher salary, there are a few things you need to know. Here, the Bayt.com experts share the top 4 things to take into account if you want a higher salary.
If you’re among the 31% of professionals planning to change their industry for better employment opportunities, make sure you apply for the right industries. According to the Bayt.com Middle East and North Africa Salary Survey 2016, oil, gas and petrochemicals (40%), banking/finance (35%) and airline/aviation (27%) came out as the top-paying industries.
According to the Bayt.com Middle East and North Africa Salary Survey 2016, 35% of MENA professionals say that their loyalty to the companies they work in is not caused by the salary they get. In matter of fact, line managers (38%), career growth opportunities (35%) and senior management (27%) have all emerged as other non-monetary drivers of loyalty to a company.
Money isn’t everything! There are many other additional benefits that could cover for a lower salary. Bonuses (62%), family medical insurance (29%) and housing allowances (28%) have all been identified by working professionals in the MENA as benefits they appreciate in a job. Before moving to another company, make sure you evaluate the benefits you are offered against the ones you currently get – these could make the deal, or break it.
There’s no doubt about it: the cost of living everywhere is increasing. According to the Bayt.com Middle East and North Africa Salary Survey 2016, almost half of professionals (48%) say that salaries are increasing; 63% of them say higher salaries are a result of higher inflation rates, and 30% believe higher salaries happen because of the growth in the economy in their country.
Before you make your next career move, make sure to identify the reasons behind higher salaries in a country. Are higher salaries happening because of economic growth? Or are higher salaries a result of more inflation? If inflation is the reason behind higher salaries in a country, then do these salaries truly reflect the rising cost of living in that country? Bayt.com Salaries will help you find salaries in each country per job role, industry and career level.
For more tips and information, download the latest Bayt.com Middle East and North Africa Salary Survey 2016.
