The year-on-year increases in high corporate executive salaries averaged 234% in the eighth month of the yearand almost tied inflation during that period. Of all these categories, The one that saw the greatest evolution in its salary in 2024 was that of directorsaccording to a private report.
According to a report by PwC Argentina, one of the main consulting firms in the field worldwide, last August, the average salary for these positions was as follows: for directors: $9,609,669 per month, for those managers $5,154,753 per month, for those bosses $2,896,339, for the supervisors $2,034,995 per month and for analysts $1,815,197 per month.
Now if it is broken down by position, the highest ranks were above the inflation of the same period. The directors They had an increase of 245% between August 2023 and the same month this year, followed by managers, with a 240% increase.
While the supervisors They had an increase of 236% and the bosses had a 235% increase, which managed to tie the increase for that period.
Far from these levels, they are below inflation, the analysts Mr. with 234% and junior (232%) are the segment that pulled down the average price increase measured by the National Institute of Statistics and Censuses, INDEC.
The accumulated of the year of the lowest sectors of the salary scale
Argentine companies reported accumulated salary increases of 118% in the first ten months of 2024according to the most recent update of PwC Argentina’s monthly monitoring of salary adjustments, where more than 140 organizations from across the country participated.
“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. At the moment, Most companies make adjustments on a quarterly basis, representing 43% of those surveyed, while only 20% report monthly adjustments.
“For 2025, at the close of the survey, only 16% of the companies surveyed have defined their budget for salary adjustments, while 81% project an inflation of 51% for next year. This indicates that inflationary pressure will continue to be a challenge for the labor market. From our firm we will continue to carry out periodic surveys to monitor market trends,” concluded Mariela Rendón, senior manager of PwC Argentina in the People & Organization practice.
Source: Ambito
