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Will you ask for a raise in Q4?
The results are in.
September 27, 2009 2:26 by Aarti Nagraj
It’s been one year since the collapse of US investment bank Lehman Brothers, which is believed to have marked the beginning of the global financial crisis. And after a year of layoffs, salary cuts and credit debts, economies around the world seem to be limping back to normal.
Regionally, officials have said that the region will be out of the crisis by early next year, an optimism shared by many people: according to the Nielsen Global Consumer Confidence Survey last month, about 45 percent of UAE consumers believe that the country will emerge from the crisis in the next 12 months.
That said, it’s been a rough period; employees in the UAE saw average salary cuts between 26 percent and 30 percent over the last year because of financial crisis, according to a survey conducted by Emirates Business this month. Similarly, a Bayt.com and YouGov survey claims that one in 10 workers in the UAE lost their jobs during the first six months of 2009.
That is probably why 28 percent of our respondents said that while they might ask for a raise in the fourth quarter of the year, they were just happy to have a job. Another 20 percent said that they would not ask for a raise because their employer was not yet stable.
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