Trenkwalder: 55 percent of employees in the private sector expect their financial situation to deteriorate this year

By: Trademagazin Date: 2023. 03. 16. 10:39

At the beginning of the year, 55 percent of the employees working at enterprises received a salary increase, the amount of the increase did not exceed 10 percent for almost half of them. 17 percent are those who do not expect a salary increase at all this year, according to Trenkwalder’s labor market research conducted at the end of February.

The level of inflation has been higher than the rate of wage growth since autumn, that is, real wages started to decline almost half a year ago, and according to market estimates, a real wage decrease of around 4 percent is likely in 2023. In this situation, Trenkwalder asked 500 employees working in the private sector about their attitudes regarding their salary and their current workplace.

The effects of the currency deterioration are also felt by employees, which also contributes to the fact that 43 percent of respondents are dissatisfied with their current salary level. 35 percent of those dissatisfied with their salary would be satisfied with a salary increase of 20 percent, another 24 percent would consider an additional income of 20-30 percent adequate. Of course, the majority does not expect their expectations to be fulfilled this year, accordingly 55 percent expect that their financial situation will worsen this year compared to last year.