In our Enloyd Salary Guide 2024, we provide extensive insight into today's salary trends in 2024 and recent economic, technological changes that could impact this year's labor market.
We are pleased to present you with the fifth edition of our salary report, which is a comprehensive compilation of data and analysis, enriched with valuable comments from experts. This report is a reflection of the current situation in the labor market and salaries.
Over the past year, we have seen modest salary increases, which are mainly due to inflation and the stabilisation of general market trends. These increases are particularly due to the rising cost of living, which translates into higher expectations from employees and candidates. Salary increases are primarily being reported by those who have only recently started their careers. They are the ones most affected by price increases and are negotiating higher salary rates as a result. At the same time, the salaries of managers and directors are increasing slightly.
Employers are managing their budgets much more cautiously than last year, with a view to greater maintenance expenses and the dynamics of the market situation. They typically focus on enhancing their competitiveness with compelling benefits and on attracting and retaining talent. Alongside competitive wages, there is an increasing emphasis on ensuring work-life balance, flexible working hours, and professional development opportunities.
Digitalization, automation, and artificial intelligence (AI) are playing increasingly significant roles, so companies must adapt quickly to the new work environment. The integration of AI means not only efficiency gains, but also new training and development needs that employers must respond to.
However, maintaining a strong company reputation and implementing effective employer branding, both internally and externally, will remain as crucial as ever. Employers need to offer additional value to their employees so that financial factors, while remaining important, do not play a decisive role.
I hope this report will be a good reference point in the current market reality.
Artur Skiba
CEO - Antal & Enloyd
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