Majority Of UAE Residents Expect Salary Increase In 2019, But Only One Third Got One In The Last Year
yallacompare Consumer Confidence Tracker for Q1 2019 shows nearly two thirds of residents expect a salary increase this year
Nearly 65% of UAE residents expect a salary increase in the next 12 months, despite the fact only 32.5% got a raise in the previous 12 months.
That's according to the yallacompare Consumer Confidence Tracker for Q1 2019, which surveyed more than 1000 UAE residents on the state of their finances and attitudes towards work. It follows similarly sized surveys conducted throughout each quarter of the year.
The Consumer Confidence Tracker Q1 2019 discovered that 64.3% of respondents expect to be given a salary increase in the next 12 months, a slight decrease from the 65.2% that said the same thing in the Q4 2018 survey.
Despite respondents' optimism about their salary prospects, only 32.5% said they'd received a salary increase in the previous 12 months. More than one fifth (20.7%) said they'd actually experienced a pay cut in the previous 12 months.
"UAE residents expectations' of a salary increase are high and after absorbing a lot of inflationary pressure over the last 12 months, they feel they deserve to be rewarded," said Jonathan Rawling, CFO of yallacompare. "History shows that expectation can sometimes outpace reality, however. If we look back to Q1 2018, 60.7% of respondents expected a salary increase in the next 12 months. In our Q1 survey this year, only 32.5% of respondents said they'd received one."
The proportion of respondents that feel confident about keeping their jobs remains high at 77.1%, up from 75.2% in Q4 2018. Asked about their sense of job security, 35.8% of UAE residents feel more secure than one year ago, 32.1% less secure and 32.1% about the same.
