2024-08-30 05:48:01
Prices rose sharply in 2023, but according to statistics, wage increases largely offset price increases. A study by Deloitte shows that 2024 follows this trend: although inflation has slowed down, wage growth has not been as significant since the beginning of the year.
The average increase for workers, employees, technicians and supervisors (OETAM) was 3.5%, compared to 4.6% last year. Executive salaries rose almost as much, by 3.4%. Inflation in a year was 2.3% in July, according to INSEE, so purchasing power has increased.
More individuals added
Deloitte, which analyzed data from more than 1 million individuals from more than 300 companies, also noted that employees “strongly rely on personalization.” Pay raise This year, 100% individual pay increases now concern the majority of executives (51% compared to 39% in 2023) and are becoming more common among other employees (34% compared to 25% in 2023). Bonuses or variable components (representing between one month and three months of salary depending on department and level of responsibility) also continue to grow.
But the value-sharing bonuses (former Macron bonuses), which were very successful in 2023, have been declining as they are no longer tax-free. Less than a quarter (24%) of companies have given bonuses, compared to 53% last year, and the median bonus for executives and others has fallen to €400, compared to €600 for OETAM and €816 for executives in 2023.
The gender gap is widening
Average wage gap between men and women This hurts returns by 2024, down to 3.8% in 2022, compared with 2.6% last year. Deloitte explains this development as the rising feminization of experienced executives (+2 points) and senior managers (+7 points), which “in the short term widens the pay gap with their male counterparts” who are more qualified. In addition, the “catch-up budgets” used to fill these gaps “are no longer necessarily as important as they once were,” explains Franck Cheron, a partner at the firm.
While the use of remote work has averaged two days a week, two-thirds of companies are offering compensation for it this year, compared to half last year. Finally, the firm predicts that growth rates for all categories will “decline slightly” to 3% by 2025, “close to pre-corona crisis levels.”
Paid employment remained largely stable in the second quarter
Private sector salaried employment fell by 0.1% in the second quarter, or 28,500 jobs less than the previous quarter, INSEE reported this Friday, with an upward revision of 7,900 jobs lost in early August.
The institute noted that over a year, private sector payroll employment grew by 0.3% (or 60,700 jobs) and is 5.8% (or 1.1 million jobs) above its level at the end of 2019.
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