Business

The purchasing power of wages is maintained thanks to low inflation

In 2020, the average gross salary of Spanish employees was 23,531 euros; that of middle managers, at 43,056 euros; and that of managers, at 86,257 euros. Figures which represent an increase of 1.2% of the workforce; 0.3% in middle management; and 1.75%, among managers, respectively. The data come from the fourteenth edition of the report “Evolution of salaries 2007-2020”, presented by the consultancy firm ICSA Grupo and EADA Business School. Thanks to very low inflation over the period analyzed, all categories have managed to maintain their purchasing power.

In the presentation of the report, Ernesto Poveda, president of ICSA Grupo assured that “the pandemic acts as an accelerator of an essential change in the remuneration model of people, still strongly anchored in the fixed salary indexed to the CPI. New scenarios are opening up for better-designed compensation models, fully aligned with the sustainability of the organization, which offer a greater variable portion as well as a bonus and which, consequently, succeed in motivating and retaining employees. people. “

For his part, Jordi Assens, professor at EADA Business School, stressed that an indicator of the quality of any economy is wages and “we can make labor reforms that have effects but our productivity, an essential element. of why wages do not improve, is still insufficient. We must bet on innovation and knowledge, which will bring us closer to better wages. “

Industry, the highest paid employees; trade and tourism, the worst

In the case of industry, internationalization and exports have enabled it to maintain wage levels, placing employees among the highest paid in the sector. Trade and tourism, one of the sectors most seriously affected by the pandemic and which represents an important part of the economic fabric in Spain, are, for another year, like the red lantern of wages in our country. The financial sector, affected by a restructuring of the sector, has not driven the salaries of its employees for two years.

The best salaries for Navarrese employees and managers in Madrid

Madrid, the country’s political and financial center, leads executive salaries with an average salary of 91,394 euros, followed by Catalonia with 88,450.

Regarding the employee category, Navarra remains the leading community in terms of employee compensation, followed by Madrid and Catalonia. Extremadura, with an average of 19,300 euros, remains the region with the lowest wages.

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