What are the sectors with the greatest increases in the year?

What are the sectors with the greatest increases in the year?
October 24, 2023 – 1:57 p.m.

Due to the impact of inflation, companies had to recalibrate the 2023 budgets and grant more increases than expected for employees outside the agreement.


After the general elections, companies and workers outside the agreement continue to negotiate salaries for the remainder of the year. Until now, the increments They were located at an average of 95%, but new adjustments are expected until December that could raise salaries in some sectors up to 170%. But so far, which sectors have benefited?

Salaries: the sectors with the greatest increases

According to a WTW report to 477 companies, the average salary increase approved by companies was 95%. However, the salary increase already approved and soon to be granted is 124.8% and the average 143% that is subject to approval.

In this context, only one sector managed to collect an increase of 101.6%, which is Communications/Entertainment. In second place, but already below 100%, is the sector of banks and financial entities (97.2%), oil companies (97%), Agriculture (95.7%), Logistics and Transportation (91.2%).


Salaries: the sectors with the smallest increases

The worst paid workers outside the agreement so far are those who provide professional services (77%), Social work/medical provider (83%), Services (81.2%).


As in previous years, companies have had to modify the initial salary budget to close the year with adjustments greater than originally planned. Uncertainty and the acceleration of inflation during the year were the reasons that forced companies to ask the corporation/owner for changes in the budget at least 4 times and up to 6.

“We understand that this year again the salary adjustments They will be on average lower than annual inflation, although companies will make the greatest effort to get as close as possible to real accumulated inflation,” they maintain from WTW.

Meanwhile, another point to take into account is related to the Number of times that companies applied salary adjustments during the year; They had planned that there would be between 3 or 4 and finally there will be 5 or even more. There are companies that applied adjustments monthly but they do not amount to more than 3% of the total.

Source: Ambito

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