November 27, 2020

Industry, banking and life science, the sectors that best pay their workers in Spain

Industry, banking and life sciences are the sectors that have paid their workers the best in 2020. This is determined by the “III Spring Professional Guide to the Labor Market” carried out by Adecco, which points out the directors of engineering (73,963 euros), m & a banking analysts (68,750 euros) and medical directors of the life sciences sector (63,922 euros), as the professional profiles that receive the best average annual salary in our country. Thus, this study, which analyzes more than 90,000 job offers, highlights a substantial pay improvement in the event that these worker profiles have previous experience in their jobs. In this way, the medical directors of life sciences could reach 95,740 euros, the analysts of mergers and acquisitions of the banking sector to 95,000 euros and the directors of engineering of the industrial sector exceed 75,000 euros. Even so, the document warns that the consequences of the pandemic, which are “rapidly increasing the growth of the unemployment rate and have caused a significant drop in consumption”, could also have an impact on the remuneration policies of companies in the face of the next few months. In fact, the latest report from the Bank of Spain states that general wage readjustments in Spanish companies could reach up to 15%. Increases in some positions However, Adecco marks a positive salary evolution for workers in the purchasing and logistics, e-commerce, IT and telecommunications and life sciences sectors, those who have best withstood the confinement by managing to maintain their activity. For them, an increase in salaries is expected in some positions “either because their demand is very high, because they are key to the digital transformation of the sector or because they are necessary positions to face the health crisis.” For their part, for the consumer goods, banking and insurance, and finance and legal sectors, the guide points to remuneration stagnation despite having remained stable in recent months. An effect that the report attributes to the “various problems and challenges that must be faced in the near future.” Among them, the restructuring and the elimination and empowerment of some areas in a large part of these companies. Finally, the report points to workers in the construction and real estate, industry and human resources sectors as the most affected by Covid-19. The lack of activity during the last year and the major structural changes that are expected “will result in a general reduction in wages.”

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