Saudi Arabia is leading the region on salary increases and advertised jobs according to the Robert Walters Job Index and Salary Index reports released .
“Despite 2017 being a challenging year, there is an expectation of growth for 2018 as we have seen overall positive numbers for the region in the last two quarters,” said Jason Grundy, Robert Walters Country Head, Middle East.
“It is exciting to see the biggest economy in the region growing its job market off the back of weak data in 2017,” Grundy added.
Overall, the index advertised positions for the job sectors Robert Walters covers in the UAE were down 11% Year-on-year and 7% down quarter-on-quarter.
Broadly salaries will remain flat, according to the report, but modest increases are expected in Saudi Arabia with Legal professionals enjoying the strongest salary growth at 3%, with Finance specialists seeing a 2% increase.
“While employers remain conservative in their salary projections for 2018, we do expect an upside in salary increases in Saudi, thanks to an improving economic situation as a result of the resumption of government spending, stabilized oil prices, and the effects of economic transformation programs,” Jason Grundy said.
Saudi saw stronger salary growth at 2% on average across all professional roles. Accountancy and Finance professionals saw the strongest salary growth at 7% on average, while Legal professionals increased by 5%.
Nationalization programs across the region have accelerated creating an exciting array of opportunities for UAE and Saudi nationals, Grundy said, particularly those who have experience working overseas combined with an understanding of local business culture.