In higher-level positions, workers received their salaries in line with or below inflation and the same is expected for the end of the year.
While the inflation remains on a downward path, the theme of wages It continues to be a topic of debate according to the sector. In the case of private companies, a recent report highlighted that 3 out of 10 companies increased workers’ salaries below or in line with inflation.
It was detected that between January and August, The accumulated salary increase due to inflation was varied: 33% of companies granted an increase of between 60 and 80%; 30%, between 80 and 100%; 17%, less than 60%; 12%, between 100 and 120%; and 8% achieved a salary increase of more than 120%. For reference, Accumulated inflation in the same period of the year was 101.6%.
This analysis, carried out by Vistage Argentina in the “2024 Compensation Survey”, includes the highest positions in the companies, such as: General Manager, Commercial Manager, Administration and Finance Manager; Plant Manager, Operations Manager, HR Manager, Head of Administration and Finance; Commercial Manager, Accounting Analyst and Supplier Payment Analyst.
The survey gathered information from 500 businesspeople who lead organizations of different sectors and sizes and the results were the following:
The salary adjustment due to inflation projected between January and December 2024 is:
– between 80 and 100% (28% of respondents).
– between 100 and 120% (24%).
– between 120 and 140% (22%).
– less than 80% (15%).
– greater than 140% (11%).
“Another of the interesting data that the Survey revealed is that the 35% of companies project to have given more than 6 salary increases in all of 2024 and another 22%, up to 4 increments. Thus, more than half of the companies would implement between 4 and 6 improvements, protecting the income of their work teams,” highlights Guadalupe San Martín, CEO of Vistage Argentina.
Likewise, Vistage Argentina was interested in the indicators used by companies to update salaries. The joint ventures (42%) and the INDEC Consumer Price Index (36%) They are the variables that stand out in the three areas to implement salary increases.
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More than half of companies predict that they will not hire new employees
Meanwhile, when asked about the payroll of collaborators for 2025, 55% indicated that it will remain the same, while 38% predict that it will increase; and 7% estimate that it could decrease.
The Compensation Survey also emphasized the modality of work that companies develop. 57% work in total presence; 22% follow a 70/30 scheme between in-person and teleworking; 7% opt for a 70/30 scheme between teleworking and in-person work; another 7% perform 100% teleworking; 4% develop a 50/50 scheme between both modalities; and 3% is left to the free choice of the collaborators. This shows that, despite Argentines’ preference for a mixed modality, companies continue to prefer full presence.
Source: Ambito
