According to a private report, salaries beat inflation for the month and aim to close the year above the expectations of economic consultants.
The Argentine companies reported accumulated salary increases of 118% in the first ten months of 2024, according to a private report that surveys 140 organizations throughout the country.
In the period from January to October of this year, the accumulated salary adjustments remained above inflation, motivated, in large part, to the corrective increases in January and February, which improved the 2023 figures. These accumulated increases reached an average of 135.6% for personnel outside the agreement, compared to a projected inflation of 133% by participating companies. The report belongs to PwC Argentina, which produces a monthly report to reflect trends in compensation and benefits of Argentine companies.
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Salary adjustments: change of strategy in companies
“The estimate of salary adjustments for the year continues to change as organizations update their projections. The latest average places the increases for 2024 at 135.6%, a figure aligned with the inflation projected by companies, although slightly higher” , commented Damián Vázquez, partner at PwC Argentina, leader of Management Consulting.
The results also show a tendency to space out salary adjustments, as a result of the slowdown in inflation in recent months. Currently, most companies make adjustments on a quarterly basis, representing 43% of those surveyed, while only 20% report monthly adjustments.
Salaries and inflation: what to expect at the end of the year
According to PwC, by 2025 only 16% of companies defined their budget for salary adjustments while 81% project an inflation of 51% for next year.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
