Saudi Arabia Salary Guide 2022As Cooper Fitch starts to gather the initial data we can propose that salaries in the Kingdom of Saudi Arabia may see an increase of around 5-7%, however, it is too early to give a definite answer until all the data is collected and analysed.
About Cooper Fitch
Cooper Fitch is a professional services company on all matters people-related, we have been providing market & data insights and consulting services for over two decades in Saudi. Our aim is to provide data and trends to better facilitate employee attraction and retention.
We have been partnered with our clients to build better talent density in Saudi Arabia since 1997.
Saudi Arabia Salary Guide 2022
The Minister of Finance in Saudi Arabia, Mohammed Al-Jadaan, welcomed the IMF statement on projected GDP growth. The projected GDP growth is at 2.1% this year (2021) and 4.8 % next year in 2022 (GDP growth of -4.1 % in 2020). This level of growth should lead to at least a stabilisation in salary values with potential upside of single digit growth (~4% – 6%), we are already witnessing acute demand for niche skill sets in many areas across the Kingdom.
The Cooper Fitch Gulf Employment Creation Index has shown a significant increase in the employment and jobs market in the Gulf over the first six (6) months of 2021. We have seen an increase of 6.4% from pre-covid levels, this will be reflected in pay levels in our salary guide 2022 for Saudi.
Trefor Murphy the CEO of Cooper Fitch believes that there will be an increase in recruitment activity in certain niche employment markets in the Kingdom with new technologies leading the way such as AI, IoT, Digital, Blockchain, Cloud and Cyber. The drive for non-oil revenue and growth in GDP continues with many new jobs being created in Tourism, Culture and Real Estate projects. The team at Cooper Fitch aims to speak to over 500 organisations for our Saudi Arabia Salary Guide 2022.
What is a Salary Guide?
A salary guide is a tool used to generate and sustain competitive compensation packages. The Cooper Fitch Salary guides are most commonly utilised by talent acquisition managers however they also serve as an excellent resource to job seekers looking for a new role so they are able to determine their market value.
The content making up a salary guide would usually consist of the most up-to-date information on salaries by years of experience and skill level. The numbers listed in the guide are in local currency and only cover the fixed monthly component of salaries (the basic, housing and transportation allowances ) The would typically be based on our search history for the calendar year of the salary survey, our historical averages in each market, market trends, feedback from our clients on their organisations.
How to use a Salary Guide
Utilising a salary guide whilst you job search could be an extremely helpful tool. You can use the salary guide as a benchmark therefore enabling you to compare your current salary to those in similar positions. With this information you’ll be able to come up with a range you’re comfortable with and identify jobs that align with your number.
With the information you gather from the salary guide you will have a better understanding of the salary range you are looking for. Our team at Cooper Fitch can also assist you in providing feedback on salaries based on what their clients are offering.