In 2022 fixed salary in Italy it is increased by 3% but growth is hampered byinflation (estimated at the end of the year at 7%) which brings the real wage to decrease by 4%.
It is the second consecutive year where in Italy the rate of inflation exceeds the average increase in wages: a situation that has not occurred for thirty years, since the early nineties.
This is what emerges from the survey ofObservatory on WTW salary dynamics (formerly Willis Towers Watson), a consulting firm, conducted on a sample of over 640 medium or large Italian companies.
The salary increase in Italy is in line with the main European countries, such as Austria (+3,2%), France (+3%), Germany and the Netherlands (+3,5%), Spain (+3,3%) and Great Britain (+3,9%) .
Le companies have tried to improve the purchasing power of their employees by intervening with salary increases fixed: the 60% of companies is geared up one-off interventions, or temporary, of a monetary nature; The 40% instead he focused on more structural and lasting measures, mainly for sectors with higher profitability such as Telecommunications, Oil & Gas and Automotive.
Inflation affects all of Europe
I wages I am deeply affected by inflation which far exceeds the increases planned by companies in Italy. Inflation affects not only the Belpaese but all of Europe: the budget levels planned by companies have been significantly lower than the inflation rate (with the exception of Switzerland).
"We come from years of contained and linear salary growth, in the face of a low inflation rate, where we are witnessing a physiological increase in wages mainly due to seniority increases and contractual increases, in particular for the lowest wages, while little room has been left for economic recognition of merit. Now, however, this linear model is undermined by the very high growth of the rate of inflation which has had a strong impact on wages and puts us in front of a new model with many variables and unknowns” he declared Edward Cesarini, Chief Executive Officer of WTW.
Salary increases also planned for 2023
- salary increases of the market scheduled in Italy for 2023 are expected in growth with an average of 3,9%.
The field of media-telecommunications record the higher growth with an estimate of 4,6% (+0,7% compared to the average). Good increase also for the insurance field (4,4%) and Oil & Gas which will grow in the order of 4,2%.
La lower growth of wages is recorded by industry retail with 3,2%. Together with the energy sector (3,3%) and the world of consumer durables (+3,4).
Italian market always competitive but the gender gap is still strong
“Il Italian labor market in 2022, however, it was decidedly competitive and companies have never stopped look for the most specialized profiles, such as engineers, IT professionals for app development, cybersecurity or e-commerce. The remuneration dynamics for the fixed component of remuneration led to an increase in wages, net of inflation, but the gender gap is still strong in our country: in 87% of companies the average fixed salary of women is in fact still lower than that of men. A trend reversal on this front is desirable,” he said Rodolfo Monni, head of salary investigations of WTW.
