The2017 Bayt.com Middle East and North Africa Salary Survey, conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a leading market research agency, revealed that52% of Kuwaiti respondents are satisfied with their current salaries. Additionally,45% of Kuwaiti respondents believe that salaries are increasing in Kuwait, while29% believe that they are staying the same.
Current Salary
In terms of Kuwaiti respondents’ current salary package composition, more than half (55%) of those surveyed do not receive additional benefits with their basic salary.31% receive a basic salary as well as benefits in their current compensation package.14% of those surveyed actually receive their basic salary plus benefits and commission.
Of those receiving additional benefits, personal medical insurance (28%) was the top benefit received by employees, followed by personal annual air ticket (23%), and a housing allowance (19%).
When it comes to end of service benefits in Kuwait,59% stated that their company offers an end-of-service gratuity, and6% claim they will receive a pension on retirement.13% claim that they receive other forms of end of service benefits, while24% state that they do not receive any end of service benefits.
Although18% of Kuwaiti respondents claim that the salary they earn is their main loyalty driver,42% of respondents claimed their loyalty to the company is not linked to the salary they receive. Besides salary, management (35%) and training and development opportunities (34%) emerged as the most important factors driving employee loyalty in Kuwait.
“With salary being such an important driver for both employees and job seekers, we hope that the Bayt.com Salary Survey2017 will shed light on salaries, savings, and spending in the Middle East,” said Suhail Masri, VP – Employer Solutions, Bayt.com. “We conduct tens of comprehensive research reports each year in line with our mission as an organization, which is to provide people with the tools and information they need to build their lifestyle of choice. This survey was created in order to provide employers with insights into current employee satisfaction levels when it comes to their salaries and raises.”
Pay Raises
In2016,38% of respondents in Kuwait received a salary raise. On the other hand,58% of those surveyed claim that they did not receive a pay raise in2016 at all. Of those who did receive a raise,43% were very happy or modestly happy with their raise.
More than half (53%) of respondents in Kuwait expect to receive a salary raise in2017.
Future Plans and Expectations
The majority of Kuwaiti respondents (61%) claim that they are planning on finding a better job in the same industry within the next12 month, while41% stated that they will be looking for a better job in a new industry.
When asked about salary trends,45% of respondents believe that salaries are increasing in Kuwait. According to respondents, factors causing salaries to increase include inflation / rise in the cost of living (29%), intense competition for attracting / retaining talent (27%), and growth in opportunities and economic growth in the country (25%).
Masri adds: “For people interested in more specific information about salaries, tools such as Salary Search by Bayt.com can help employers uncover the salaries that are being paid in their industry. The same tool helps professionals gauge their earnings against market average, and thus, learn whether or not they are being fairly paid for the job they are doing. This information collected through the survey is important when it comes to guiding both employers and job seekers, so that the difference between salaries offered and expectations can be successfully addressed.”
Expenses and Savings
With regards to the rising cost of living in the Kuwait, the bigger proportion (16%) of respondents have seen their cost of living increase between16% and20%. Respondents claim to have seen an increase in their rent (78%), food and beverage (75%), and utilities (43%). Three quarters (75%) of respondents believe that the cost of living in Kuwait is going to increase.
That being said,60% of Kuwaiti respondents still manage to save a portion of their salary and54% manage to repatriate a portion to their home country.
Spending and Investments
The top monthly expenses for respondents in Kuwait are rent (55%), food and dining out (13%), and Education / Children's schooling / Books (11%). When asked about the frequency of eating out,16% of respondents in Kuwait eat out every day,21% eat out a few times a week, and the rest do so less often.
Over a third of respondents in Kuwait own a home (36%).23% are interested in owning a home in their country of residence, while79% would like to own a home in their home country.
Elissavet Vraka, Research Manager, YouGov , said: “It is interesting to note that60% of Kuwait respondents manage to save a portion of their monthly income, with54% of those living outside their home country being able to repatriate a portion of their savings to their home country. This is a good sign for both employers and job seekers, as the ability to save and repatriate savings will impact other factors such as employee satisfaction and loyalty towards the company.”
Data for the2017 Bayt.com Middle East and North Africa Salary Survey was collected online from March23rd to April9th,2017. Results are based on a sample of3,879 respondents who live in the UAE, Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, Lebanon, Syria, Jordan, Egypt, Morocco, Algeria, and Tunisia.