Bayt.com & YouGov Survey Reveals Interesting Insights on Salaries and Benefits in Lebanon
The 2020 Middle East and North Africa Salary Survey, conducted recently by Bayt.com, the Middle East’s #1 job site, and YouGov, global online market research company, revealed a variety of insights on employees’ perceptions of salaries and benefits.
The survey aims to gauge employee satisfaction with their current salaries and the varying components that contribute to it, as well as explore the drivers of loyalty towards employers and the significance of salary in career satisfaction and general wellbeing.
Salaries and Benefits
In terms of salary, 30% of Lebanon respondents state that their current salary package consists of basic salary and benefits, while 58% state it consists of the basic salary only. 9% said they receive a basic salary as well as a commission and benefits.
When it came to the preferred pay structure, more than half of all respondents (56%) prefer a 100% fixed pay structure while only nearly 3 in 10 prefer a partially fixed-pay structure with a variable pay for commissions and incentives.
Among the various benefits employees in Lebanon receive, transportation allowance (35%), personal medical insurance (24%), family medical insurance (16%), and bonus (14%) are the most common.
Drivers of Loyalty
Interestingly, 40% say that their loyalty to their company is not linked to the salary they receive. Yet, 16% regard their loyalty is linked to the salary in a large to full extent.
Apart from salary, opportunities for career advancement (30%), fun office environment (28%), the nature of daily responsibilities (27%), and training and development opportunities (23%) also drive loyalty.
Ola Haddad, Director of Human Resources at Bayt.com said: “Our annual Salary Survey helps uncover extremely valuable insights for employers and employees alike. We have thousands of jobs available on Bayt.com on any given day, and with the knowledge gained from this survey and others like it, we are able to help facilitate the best matches between candidates and recruiters while making the process of finding jobs and filling vacancies smoother.”
Finances and Expenses
35% of respondents still manage to save a portion of their monthly income, and 9% make regular financial investments.
In terms of quality of life, 51% of Lebanon respondents claim to be better off or about the same as other people of a similar generation in their country of residence. When asked about their career plans in the next twelve months, 35% stated that they will look for a better job in the same industry, and 31% said they plan to look for a better job in a different industry.
Among those surveyed, 40% have been working in their current industry for up to six years, with 33% having worked in their industry for more than 10 years. When it came to specific employers, more than 6 in 10 respondents have been working with their current employer for six years or less, with 31% have been working for their employer for less than three years.
In their current role, 33% of Lebanon professionals claim to be ‘midway in terms of seniority’ when asked about the level they have reached in their career path, with another 28% claiming they are ‘fairly senior level but not at the top yet’, 14% report being in the ‘early days of their career’, and 25% being at the ‘most senior level’ they can achieve.
While more than half of Lebanon respondents (61%) have up to 10 people report directly and indirectly to them, 20% have 11 or more people reporting to them.
“Salaries are repeatedly one of the most important research topics for the MENA region,” said Zafar Shah, Research Director, Data Services at YouGov. “With the information we cover in our annual Salary Survey, we are able to gauge employee’s current income structure and levels, perception towards their cost of living and expense allocation. This provides many insights to employers and key decision makers on many elements relating to the job market, the economy, and the quality of life.”
Data for the 2020 Middle East and North Africa Salary survey was collected online from 8th March to 18th May, 2020. Results are based on a sample of 3,497 respondents from the following countries: UAE, KSA, Kuwait, Oman, Bahrain, Lebanon, Jordan, Iraq, Palestine, Syria, Egypt, Morocco, Algeria, Tunisia, Libya, Sudan, and Pakistan.