Salaries across Spain will increase between 2% and 3.5% next year, according to data by Randstad Research in Spain.

The research analysed compensation data in eight major geographic locations, identifying different salary bands for more than 250 relevant positions in 11 sectors and professional areas. In the analysis, Randstad found the salary levels are set to increase across the board, although the increases will remain in most cases below the Consumer Price Index of December 2023.

Among the professions that will experience greater increases in 2024 are retail and business services, such as marketing, sales, finance and human resources; and logistics and transportation, which will register salary increase above 3% for those professionals with more than six years of experience.

Miguel Mercado, director of Randstad Professionals in Spain, said, “The talent deficit and the dynamism that the labour market is experiencing is allowing salary improvements among qualified professionals, although the increases barely cover the increase in inflation. Companies are being cautious in the current environment of economic uncertainty marked by high prices, rising interest rates and their impact on household disposable income, as well as growing international geopolitical tensions.”

Randstad emphasised the importance of continuous training a way to increase the employability of professionals and thus achieve improvements salaries. “Employers especially value profiles that continue to be trained, especially in those skills related to new technologies and digitalisation, which are in high demand in the labour market”, said Mercado.