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Real estate salaries climb in Middle East
Real estate salaries in the Middle East are on the rise, climbing more than 22 per cent for some professions, according to a survey released by Macdonald & Company, a recruitment consultancy focusing solely on the property industry.
- Staff Report
- Published: 23:06 October 16, 2007
Dubai: Real estate salaries in the Middle East are on the rise, climbing more than 22 per cent for some professions, according to a survey released by Macdonald & Company, a recruitment consultancy focusing solely on the property industry.
The company's salary survey points to an overall salary increase experienced by the real estate sector, particularly in the real estate consultancies (14.5 per cent), financial services (15.9 per cent) and contracting sectors (22.1 per cent).
The survey revealed an average rise of 14.2 per cent in salaries across all disciplines in the Middle East real estate sector. It also revealed that 94 per cent of employees have received at least one additional benefit.
Incentives
Health insurance was the most popular incentive among respondents at 80 per cent, followed by annual travel expenses and flights, which was awarded to 63 per cent of the survey participants and performance-related bonus which was received by 50 per cent of the subjects.
Job satisfaction in the GCC is high in comparison to other regions of the world with 79 per cent of the employees expressing that they are ‘fairly satisfied' compared to 21 per cent who answered ‘not very' or ‘not at all' satisfied.
According to the survey, the three top reasons for employees leaving their company are better salary (74 per cent), better career prospects (68 per cent) and better benefit package (47 per cent).
The survey mirrors the boom in the real estate market for property professionals in the Middle East. Around 76 per cent of the respondents being optimistic that the next 12 months will see an increase in terms of economic activity in their chosen fields and 23 per cent expecting that it will remain constant.
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