The swelling pay packets of top directors were the main reason average salaries in the Gulf went up last year, according to a recruitment survey.
C-level –or director level – salaries rose significantly and are expected to drag up rates of pay for other post this year, says the Gulf Business Salary Survey 2015.
Average pay packets were almost 8% larger than last year, says the survey, with salaries increasing from £7,050 a month to £7,607.
Recruitment experts explained that if companies wanted to compete, they had to pay the best wages.
Wages by country
Expat professionals in Kuwait saw the biggest pay increase of 10.9% – from an average £6,828 to £7,522 – a rise of £695 a month.
Salaries increased in all the other Gulf States –
- Bahrain saw a 4.43% increase from £6,335to £6,614
- Salaries in Saudi Arabia were up 7% from £8,225 to £8,803
- Qatar expats were paid an extra 7.79% – a rise from £7,781 to £8,384
- Oman salaries had a hike of 7.9% from £6,199 to £6,689
- United Arab Emirates average salaries were up 9.97% from £6,922 to £7,613
Despite a lower pay rise, average salaries in Saudi Arabia still outperformed those in the rest of the Gulf States.
Salaries are structured according to job level, qualifications and ethnicity in the Gulf States.
So, although Asian chief executive officers picked up a massive 39% average rise taking them to pay of £22,974 a month, they still lagged behind Arabs, who earned a 33% rise, taking them to £26,984.
Paid On Results
But streaking ahead of the rest were western multinational CEOs with a huge 45% pay increase taking them to £28,434 a month.
Averaging the SEO pay for all three ethnic groups, top executives saw their wages rise by 39% to £26,124 a month compared with a 9% drop in 2014 to £18,780 a month.
“Executives are paid on the results that they achieve for their companies, and the Gulf States economies are booming despite the falling oil price,” said a spokesman.
“Companies have also learned that if they want to attract and retain top talent, they have to pay competitive wages or they will look elsewhere.
“Expats are mercenary workers and they will look for the best deal and many have no great wish to work in the Middle East but where they can best utilise their skills for the best personal return.”
