Read this and weep all you who want to come here. When I joined, it was good, but now, inflation is killing me. I now live paycheck to paycheck, just like I did back home
. And for the record, I do not get any ERP.
I copied this from the "EK Salary Declines" thread. Have a look at it.
GULFNEWS:
Published: December 05, 2007, 23:14
Frankfurt: The UAE central bank said yesterday it would leave its dollar peg unchanged for the "foreseeable future" after Gulf rulers agreed to keep any currency reform talks secret to calm markets.
UAE Central Bank Governor Sultan Bin Nasser Al Suwaidi, who complained last month he was under growing pressure to drop the peg and track a currency basket, said yesterday there was no need to allow the dirham to rise against the tumbling dollar.
"No change is going to take place in the near future, in the foreseeable future," Suwaidi told Reuters on the sidelines of a conference in Frankfurt.
Asked if the dirham's exchange rate was going to stay the same, Suwaidi said: "Yes, yes. No change. It's better to stay as they are."
So our salary will definitely decline to new lows.
They sell their oil by as much more as the dollar falls, so they balance their sheets. The locals get a 70% to compensate the inevitable inflation, so they are compensated as well.
What about the expats? "What about them?"
As long as there are newbees to come, only to get our warnings confirmed and their wet dreams dried out, there is no need for the greedy to have us join the compensation bandwagon.
GUYS. THIS SHOULD BE A SOUND, AND EVEN OFFICIAL WARNING IN THE OFFICIAL NEWS, THAT IN THIS REGION YOU ARE GOING TO HAVE A EVER ERODING SALARY PACKAGE.