Companies

Oman private sector salaries rise by 16 per cent

Salaries in the private sector recorded an increase during September 2015. The number of workers in the sector earning a basic salary of RO2,000 increased to 7,139 compared to 6,122 in December 2014 – a 16.6 per cent growth.

A study by the National Centre for Statistics and Information (NCSI) pointed out that most youths prefer to work for the public sector even with lesser salaries than the private sector. The youths interviewed for this study affirmed that low salaries are one of the main reasons behind job dissatisfaction.

The increase comes at a time when the private sector is seeking to attract talented national personnel, rehabilitate them, improve the work environment and increase the incentives and benefits provided to them.

Many private sector companies try to attract youths by increasing salaries, incentives and benefits. Over the first nine months of 2015, the number of Omanis working in the private sector increased to 207,000 by the end of September 2015, compared to 197,000 at the end of December 2014 – a 4.8 per cent increase.
Data released recently by NCSI pointed out that most salary segments in the private sector witnessed a growth till the end of September this year compared to December 2014.
The number of Omanis working in the private sector with basic salaries of RO325 to RO400 increased to 60,882 compared to 49,182.
This reflects the employment level in the private sector where the minimum salary is RO325. Omanis in the RO401-RO500 salary bracket increased from 42,709 to 46,453. The category where the maximum salary is RO600 saw the number of Omani workers increase to 20,975 by September 2015, a rise of 2,721 compared to 2014-end.
NCSI divides the basic salaries of Omanis in the private sector into nine categories depending on the salary on which the contribution to social insurance is calculated. There is also a tenth category for those who did not update their data.