Some of the officials of the Hay Group after the inauguration of their office at the Qatar Financial Centre.
Doha: Private sector workers saw a 4.1 percent increase in their salaries on average over the last 12 months, says a global management consultancy firm.
The salaries of Qataris went up by 3.4 percent while those of expatriates saw a 5.1 increase, according to the annual ‘Qatar Compensation and Benefits’ report by the Hay Group released yesterday.
The report shows that the rate of inflation in the country went up from 1.9 percent in 2012 to 3.1 percent this year.
The findings are based on extensive analyses of salary data of 91,000 employees in Qatar from 167 organisations across 18 major sectors, including oil and gas, banking, construction and FMCG.
Private sector workers can also expect an average 5 percent pay rise next year, said the firm which conducts an annual salary survey here. “The top 50 paying companies in Qatar pay 52 percent higher salaries than the rest of the market average, plus they pay a premium of 53 percent to nationals. This means the overall premium for nationals is almost 120 percent over and above the full market average,” Harish Bhatia of the Hay Group said while discussing the key findings.
Guest speaker Abdulla bin Abdulaziz Turki Al Subaie, Group CEO of Barwa Real Estate, spoke about challenges faced by Qatar.
According to the report, 90 percent nationals in the private sector are employed by five prime sectors which include oil and gas, banking and state-owned enterprises in telecoms, education and healthcare.
The looming challenge for Qatar is the pressure on cost of living, said Bhatia.
“Qatar is investing significantly in infrastructure and to achieve this there will be an influx of expatriates. Qatar’s policymakers and employers need to plan for potential impact on housing, schools and healthcare that will be under additional pressure.”
The report also showed that men were being paid 18 percent more on average than women on base pay.
“The policy in most organisations dictates that a more generous housing allowance is provided for male employees. This differentiation is a narrowing trend in the region and we forecast it will change in Qatar in the future.”
The Hay Group has also inaugurated its office at the Qatar Financial Centre.
The Peninsula
