DOHA: Companies across Qatar are predicting an average salary increase of 5.2 percent in 2015 according to the latest figures from Aon Hewitt, the global talent, retirement and health solutions business of Aon plc.
The figure is slightly down from forecasts for 2014 and 2013 which was 5.6 percent both years. The latest figure indicates that companies across Qatar are being slightly more conservative with their budgets. However, employees in the country were given an average salary increase of 5.1 percent in 2014, only slightly below the original projection of 5.6 percent. Qatar is a fast growing economy with a rapid population, according to Qatar National Bank and Qatar’s real GDP growth will accelerate from 6.8 percent in 2014 to 7.8 percent in 2016.
“The corporates continue to have confidence in the 2015 economic outlook despite the slightly lower predictions made for the year ahead. It is normal procedure for companies to rethink their salary projections on an annual basis and the latest figure shouldn’t be a cause for concern for employees. Final budgets will be determined by HR and the management team of a company and the numbers we receive are the projections made by HR only; it seems this year HR will be more in line with the final numbers,” said Robert Richter, Compensation Survey Manager, Aon Hewitt Middle East.
Released as part of its annual Global Salary Increase Survey 2014, the figures are based on data from a robust comparative group of over 500 organisations across the Middle East, including 47 in Qatar. Across the GCC, companies are predicting an average salary increase of 5.1 percent for 2015, a figure slightly down from predictions made for 2014, which was set at 5.5 percent, indicating a similar approach has been taken across the region. Oman and Saudi based companies gave the highest salary increase projection for 2015 at 5.4 percent each.
The Peninsula
