Saturday, November 27

How were wages in Argentina after the pandemic?

What is the context of wages in 2021?

The race between salary adjustments and inflation is permanent, this is the most important indicator for companies to consider when negotiating adjustments. Argentina is in 2nd place in the region with the highest inflation numbers, after Venezuela. In some cases, inflation is not the only indicator that companies take, merit also comes into play: the performance of each person that is defined by their evaluation also plays an important role in the retention of talents within companies.

At the closing date of the study (updated as of July 30), the companies expected an average annual adjustment of 40,87% for the contract personnel who generally receive the adjustments in the months of April, July and September. In the case of those who are out of the agreement, the average annual adjustment is 38.68%, who usually receive salary adjustments in January, May and October.

Are there additions to salary?

The 69% of companies pay additional to the monthly fixed gross remuneration, the 59% guaranteed additional pays, the 50% non-remunerative amounts, the 43% provides bonuses and the 35% awards. In turn, the 81% of surveyed companies award prizes once a year.

What are the benefits?

  • Auto: 48% of the participating companies have a defined policy related to the company car, car plans including provision and renewal, and cost costs such as license plate, insurance, fuel and maintenance.
  • Health: 73% of the companies surveyed have private health coverage for their employees according to their positions.
  • Cell phone: 63% of companies, in the event that their role requires it, grant their cellular employees with corporate plans. Although before it was seen as a benefit, today it is considered a work tool. In most cases, the plans tend to be unlimited.
  • Trainings: 44% of the companies claim to have plans and budgets for staff training. The pandemic caused a strong migration of training to virtuality; This could generate an extra expense because on those specific days a catering is also usually sent to the employees.
  • Academic training: Companies cover some costs for their employees depending on the positions, the highest positions can receive on average 86% of the coverage for a postgraduate degree, 94% of the coverage for one language, and 100% for various courses. However, employees can receive the same benefits, but with different percentages (for a postgraduate an average coverage of 37% and for a language 75%).
  • Catering: 45% of the sample has a catering service, lunch or dining room for their employees. This benefit in many cases migrated to a virtual wallet for the purchase of food or delivery orders, the ranges between $ 3,000 and $ 10,000 per month.
  • Free days: As part of labor welfare, some companies began to implement a day off per semester per person, in other cases they also add vacation days or grant extra days in paternity or maternity leave. On the other hand, work by objectives without ties to a structured schedule is a reality that is increasing, especially in companies that work remotely.

Who participated? 302 companies of different profiles, among the percentages to be highlighted in this group are: 69% of the companies correspond to the area of ​​CABA and the province of Buenos Aires, 63% have national capital origin, 40% have an annual turnover in pesos within the range of $ 301 and $ 800 million, 35% have an annual turnover of more than $ 800 million pesos. 30% of these companies are services, while light industry follows with 24%.

To download the Argentina 2022 Regional Salary Guide, click on:

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