Saudi professionals’ salaries to increase by 3% in 2020: Cooper Fitch

Average salaries of Saudi professionals are expected to rise by 3% across all sectors next year as the Kingdom’s economy is expanding, Dubai-based recruitment consultancy firm Cooper Fitch said in its latest report.

“The profound changes underway in the Kingdom are keeping salaries stable or rising across most industries,” the report titled 2020 KSA Salary Guide added.

The report further noted that the competition for top-tier Saudi national talents is putting pressure on the market-rate salary ranges.

“The Kingdom’s privatization exercise and reforms have made it easier to set up new businesses and attract foreign capital, which has in turn significantly improved the job market,” Trefor Murphy, founder and CEO, Cooper Fitch, said.

In the strategy sector, salaries are predicted to grow by 6%, followed closely by investment management and sales & marketing with 5%, and accounting and finance with 4%, the report noted.

Advisory, banking, financial services, legal, investment management and public sector roles are also expected to see 3% salary increase, according to the report.