Egypt has become one of the property hotspots of the world and as a consequence has attracted more than its fair share of international businesses to the region. Many people are either moving to Egypt for a new life or a secondment from their employers and there is great interest in the salary levels available in Egypt for a semi-skilled worker such as a bank clerk or administrative assistant.
This post offers an interesting insight into both local Egyptian companies and the multinationals which are now starting to crowd the busy cities and towns of the country. The differentials in salaries appears to be substantial with salaries of between 350 Egyptian pounds (for mainly local companies) and 3000 Egyptian pounds (for mainly international operations) depending on levels of employment and experience.
Like so many countries around the world the Egyptian authorities have quite rightly stated that Egyptian workers will have first refusal on job vacancies unless foreign nationals are either sponsored by their employers or have skills and experience which may be missing from the local workforce. However, employer-sponsored visas are fairly difficult to obtain as the authorities like to be seen to be giving locals preferential treatment.
There would appear to be a serious difference in pay levels between local Egyptian companies and those which are branches of multinationals. Like so many up-and-coming economies, call centres and administrative centres seem to very much at the fore of the Egyptian economy although as the overall wealth of the country continues to rise the potential cost savings for international companies could start to reduced.
However, the increase in the Egyptian economy over the last few years has attracted a great variety of businesses to the region and increased the expat community exponentially. In the early days of economic growth foreign workers are very often welcomed but as economic swings become more commonplace and employment figures vary with the economic swings, overseas workers can often be victims in the employment marketplace.
As we have covered in some of our other articles on the blog there is a need to appreciate and monitor the exchange rate of the Egyptian pound with your base currency if you intend to go back “home” or are indeed paid in your local currency. If you are looking to relocate to Egypt via employment with your current employer you need to be fully aware of working practices in foreign lands and local cultures. Upsetting the local community can often lead to an uncomfortable stay in places such as Egypt where even though there is more of a multinational feel to the country than ever before, local practices and beliefs are still held in high esteem.
As more and more multinationals move towards countries such as Egypt the differentials between local Egyptian companies and larger worldwide firms should reduce as the economy continues to improve and expand into new and potentially lucrative areas. The Egyptian workforce and the salary they receive should continue to grow into the future.