The Middle East and North Africa Salary Survey2023 by Bayt.com, the Middle East's #1 job site, and market research agency YouGov, was conducted to gauge employee satisfaction with their current salaries and factors affecting thereof, as well as explore the drivers of loyalty towards employers and the significance of salary in career satisfaction and general wellbeing.
Interestingly,7 in10 of Kuwait respondents (70%) believe salaries are either increasing or staying the same and53% expect to receive a raise in2023.
Salaries and Benefits
32% of Kuwait respondents claim that their current salary package consists of basic salary and benefits, while51% claim that it consists of basic salary only.16% say it consists of basic salary, benefits, and commission. Additionally,44% of respondents say that their company pays for overtime.
When it came to the preferred pay structure, more than6 in10 respondents (62%) prefer a100% fixed pay structure, while27% of respondents said they prefer a partially fixed pay structure with a variable pay for commissions and incentives.
Among the various benefits employees receive, personal medical insurance (32%), bonus (25%) and personal annual air ticket (21%) are found to be the top benefits in Kuwait.
Ola Haddad, Director of Human Resources at Bayt.com says: “Our annual Salary Survey outlines the evolution of current income structure and levels, salary satisfaction and perception towards cost of living, providing an insight to the job market and the economy. Employers need to treat compensation as an integral part of an employee’s reward and monitor major factors driving the salary expectations.”
Drivers of Loyalty
37% claim that their loyalty to their company is not linked to the salary they receive. Yet,30% regard their loyalty is linked to the salary in a large to full extent. Apart from salary, the nature of daily responsibilities (33%), line manager (32%) and colleagues (28%) are important drivers of loyalty.
When asked about their career plans in the next twelve months,61% of Kuwait respondents said they will look for a better job in the same industry, and33% said they plan to look for a better job in a different industry.
Finances and Expenses
In terms of quality of life, nearly7 in10 (69%) respondents in Kuwait believe they are better off or about the same as other people of a similar generation in their country of residence.
Talking about future investment,18% make regular financial investments with22% doing so by investing in their own business.
Zafar Shah, Research Director at YouGov said: “The Salary Survey illustrates the job market from employees’ perspective, helping candidates gauge their worth in the current job market, and promoting employers’ understanding in a way that best serves the business and employees. While financial rewards are key to attracting talent into organizations, non-financial rewards can be essential differentiators when it comes to retaining talent.”
Data for the Middle East and North Africa Salary Survey2023 was collected online from16 to28 November2022. Results are based on a sample of2,941 respondents from the following countries: UAE, KSA, Kuwait, Oman, Qatar, Bahrain, Lebanon, Jordan, Iraq, Palestine, Syria, Egypt, Morocco, Algeria, Tunisia, Libya, and Sudan among others.