A salary study by recruitment consultancy Cooper Fitch revealed that some employees in the United Arab Emirates (UAE) received massive bonuses in 2024, with a small percentage receiving amounts equivalent to more than six months’ salary.
According to Cooper Fitch’s 2024 UAE Salary Guide, bonus distributions varied significantly across industries, with the following breakdown:
- 35% of companies awarded a bonus equivalent to one month’s basic salary.
- 17% provided two months’ salary.
- 12% offered three months’ salary.
- 4% gave four months’ salary.
- 1% granted five months’ salary.
- 2% of surveyed companies, particularly in accounting, chemicals, consumer goods, and healthcare sectors, rewarded employees with six months’ salary as a bonus.
The study highlighted that businesses in key industries remained committed to retaining top talent and rewarding exceptional performance through competitive compensation packages.
CEOs and executives received higher bonuses across the GCC
The bonus trend was also reflected at the executive level. A related survey covering the broader Gulf Cooperation Council (GCC) region found that over a quarter (27%) of CEOs received bonuses equivalent to 1-3 months of their annual salary. Meanwhile, 42% of CEOs received bonuses ranging between 4-6 months’ pay. In an extraordinary finding, 6% of surveyed CEOs received bonuses exceeding their annual salary.
Competitive salaries and retention strategies
The Cooper Fitch report emphasized that organizations in the UAE and GCC adopted aggressive compensation strategies to attract and retain skilled professionals. Competitive salary hikes and substantial bonuses were used as a tool to acknowledge employee contributions, especially amid evolving economic conditions and an increasingly competitive job market.
With businesses aiming to retain talent in crucial sectors, experts predicted that bonus payouts would continue to be a key factor in the region’s employment landscape.
