UAE: Fall in global oil prices and the increase in cost of living in the UAE, will see a 5-6 per cent salary hike in 2015, according to Morgan McKinley’s 2015 UAE Salary Guide.

The survey shows the below findings of last year and predictions for this year:

2014:

The number of new jobs increased by 10-15%
Fall in global oil prices to an eight-year low that we saw at the end of 2014
Rents soared to an annual rate of increase of 15-20%
Housing prices increased by 12-15%

2015:

Likely to see a 10-12% increase in the overall number of new jobs
Salaries will be increasing in line with inflation at around 5-6%
Increase in the cost of living will see locally based candidates wait for an opportunity offering a major salary hike before moving jobs
Many employers are holding firm on salaries and will import professionals from abroad

Trefor Murphy, Managing Director, Morgan McKinley UAE, says: “There are significant divergences around these averages. The GCC economy not only continues to improve but is becoming increasingly dynamic and complex, with a huge number of variables affecting the different countries, industry sectors and professional disciplines”