Abstract
Investment in human capital is a major factor for the economic growth of the country. Working salaries are main living aims for each individual, and no one is interesting less than having a continuous increasing in the monthly income of his own. In Saudi Arabia, a variation in the individual income is a noticeable issue to be considered, and this research is looking closely at several scenarios that were conducted from the effect of several factors; education major, educational degree, experience and working sector. After these scenarios are specified, prioritization matrix technique is used to find the scenario that results in the highest income for the Saudi males and females’ monthly income separately. As a result, a male who has doctoral degree in science major and has been working in a private sector from 10 to 14 years or more than 20 years is the highest monthly income among males in Saudi Arabia. While a female who has doctoral degree in science major and has been working in a public sector from 15 to 20 years or more earns the highest income among females. The results show also the most two factors that significantly affect the Saudi salaries for both males and females are education qualification and the sector either public or private.
Highlights
Various researches across several years have demonstrated the importance of investing in the human capital as it is one of the major factors in the economic growth for a country
In Saudi Arabia, a variation in the individual income is a noticeable issue to be considered, and this research is looking closely at several scenarios that were conducted from the effect of several factors; education major, educational degree, experience and working sector
While a female who has doctoral degree in science major and has been working in a public sector from 15 to 20 years or more earns the highest income among females
Summary
Various researches across several years have demonstrated the importance of investing in the human capital as it is one of the major factors in the economic growth for a country. Education has been always one of the prominent interests inherent with the development of the modern State of Saudi Arabia. This is demonstrated by the launch of Saudi vision 2030 that includes a primary pillar in improving the educational level in Saudi Arabia by 2030. Saudi vision for 2030 stated the goal of “Education that contributes to economic growth” which supported the importance of investing in education to build a productive society [2]
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