Friday, August 27, 2010
I was reading another blog today which was written by an Emirati working as manager in the banking sector. He was discussing the banks rejection of an Emirati’s application for a gold card. The issue was around his existing debt and not his monthly earnings :-
“The man makes a good living, and he works in a govt entity that is arguably the best place to work in the WORLD. He had just joined 4 months ago, and makes 34K. This is his FIRST job, and once he passes the 6 month mark he will be making around 48K. I know this. Its all right there.”
This just shows how pampered these guys are. So, after 6 months in his first job he will be earning the equivalent of c£100k tax free (the figures quoted are in Dhs per month) and with a job for life. He might not even be any good at his job!
I worry for this country. I don’t know how it will ever truly be run by locals if they are not incentivised to perform or progress and not just given hugh sums of money on a plate for doing even the most trivial job. There is certainly no incentive for Emiratis to work in the private sector when such salaries and job security is available in the public sector. The government’s answer to this seems to be to offer subsidies to those employed in the private sector to bring them up to the level of the government jobs. So then you will have a low grade Emirati employee earning a salary 3 times his boss’s boss’s boss! Like that’s ever gonna be sustainable.....