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Wages 2022: which sectors will receive the highest increases

2021-09-17T13:25:09.940Z

Salaries for non-contract employees will rise an average of 42% in 2022, against 45.5% this year, according to a private study.



Soledad Navarro

09/17/2021 9:56 AM

  • Clarín.com

  • Economy

Updated 09/17/2021 9:58 AM

A private survey reveals that out of 390 companies consulted,

41% are already working on the salary budget for 2022

, and in a context of inflation that tends to ease but is reluctant to go down and wages that fail to accompany

that fine work that companies begin to profile becomes of vital importance

. According to the survey by the consulting firm Willis Towers Watson, companies in the communications and entertainment sector, that of banks and financial institutions, and that of high technology, will once again lead the ranking - next year - with an

adjustment expected salary of 45% for employees outside the agreement.

For employees who are not framed in union agreements, and therefore are outside the joint negotiations, increases are decided based on a combination of

projected inflation, expected business results and increases

that are expected to close for workers who yes they are within agreements

.

The Services sector, with an expected adjustment of 44.5%; and those of consumption and agriculture, with 43.3%, are the ones that follow on the list of those that will achieve the best arrangements. In any case, experience indicates that these initial projections are adjusted over the months, depending on

how inflation, the economic situation and the labor market itself are evolving.

In other words, this forecast may vary a few points over the months.

Below the

average inflation estimated by the surveyed companies, which is 43%

, are sectors such as chemistry, health sciences and the automotive sector that forecast an increase of 42%. And in the last three places are: logistics and transport, insurance and industrial companies,

which will receive an increase of between 40 and 41%.

"Regarding the first projections for next year, I believe that the numbers we have are already a good indicator. Companies are planning 

between a 40 and 45% accumulated increase for non-contract personnel, being 42.9% the average, 

I think this is quite representative considering that there are already more than 40% of companies that are working on their budgets, "Marcela Angeli Director of Talent Management and Compensation at Willis Towers Watson told Clarín.


According to the survey, 41% of companies have already put their hands on the salary projection for next year, while 59% have not yet sat down to draw up the plan.

That fine work that companies are beginning to outline is framed by a forecast average inflation of 43%.

Another survey that coincides with that recorded by WTW, is that of Mercer Journey, whose latest survey shows that companies foresee an increase of 42% by 2022, with an annual inflation of 43%.


What about the remainder of 2021

Of the total accumulated increase forecast for 2021, which is an average 45.4%, large companies operating in the country or subsidiaries of multinationals have

already granted their employees a salary increase of between 24% to 37%, with an average of 30 %.

Of the companies surveyed, 64% say that they do not plan to touch their budgets again,

"so we estimate that the accumulated increase will finally be between 45 and 46% for non-contract personnel"

, summarizes Angeli.

Those salary increases that a priori do not look bad, are nevertheless well below the estimated annual inflation that, according to the Latin Focus Consensus, will

conclude at 48.9%

, almost six points above that expected by the companies.

"If we look at the first survey of the year, which we did in January / February, we see that in general terms companies have modified their budgets at a minimum.

In the first it was 43% / 44%, and now they are at 45%.

I think that This is how they will end the year, at most it will go to 46%, no more, "commented Marcela Angeli.

This year, the peak of salary increase is taken by the fintech sector, of 50% expected for the year,

companies claim to have already granted 40%, according to the registry until August of this year

.

In second place, banks and financial institutions have already achieved

36%, of the 48.4% expected

for the whole year.

YN

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Source: clarin

All business articles on 2021-09-17

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