Peru is one of the countries with the lowest salary expectations in the region

Peru is one of the countries with the lowest salary expectations in the region
Peru is one of the countries with the lowest salary expectations in the region
  • The data comes from Jobint’s regional report on the labour market carried out in Peru, Argentina, Chile, Ecuador and Panama.

The Regional Report of HR Tech Jobint, made up of Bumeran and other leading brands, on the labor market recorded that, at a regional level, the average required salary in Peru until May 2024 was 822 dollars per month. This figure places Peru as one of the countries with the lowest salary expectations, only surpassing the average remuneration calculated in MEP dollars in Argentina.

The data from the report reflect that the highest average intended salary in the region is in Chile, with 1,146 dollars per month. It is followed by Panama with 1,033 dollars per month, Argentina at the official dollar rate with 922 dollars per month, Ecuador with 825 dollars per month and Peru with 822 dollars. In last place is Argentina at the Electronic Payments Market (MEP) dollar rate.* with $773 per month.

“According to the Regional Report, as of May 2024, Peru has one of the countries with the lowest required salary in the region, with an average of 822 dollars per month. The context of economic recession in 2023 and the current phase of recovery in the country are some factors that could have motivated the labor market to accept low salaries to secure employment and maintain financial stability,” said Dora Pinedo, head of marketing at Bumeran Peru.

Jobint, the HR Tech company with leading brands such as Bumeran, Zonajobs, Selecta and HiringRoom, conducted a study on the labor market in the region based on data from its portals in Peru, Argentina, Chile, Ecuador and Panama. In order to compare the data from the different countries, salaries were dollarized. In the case of Argentina, the official dollar and the MEP dollar were considered to obtain a more realistic image of the situation.

In a Analysis of salaries according to the seniority of the positionfor the levels of boss or supervisorthe highest desired remuneration was recorded in Chile, with 1,541 dollars per month on average, followed by Panama, with 1,224 dollars per month. Next is Argentina, at the official dollar rate, with 1,195 dollars per month, Peru with 1,188 dollars per month and Ecuador, with 1,129 dollars per month. The Argentine desired remuneration at the MEP dollar rate is in last place with 1,002 MEP dollars per month.

Regarding the salaries sought for the senior positionsThe highest average salary is in Chile, at 1,268 dollars per month. Next comes Panama with 1,094 dollars per month, Argentina at the official dollar rate with 957 dollars per month, Peru with 864 dollars per month, and Ecuador with 863 dollars per month. Finally, the lowest remuneration corresponds to Argentina at the MEP dollar rate with 802 dollars per month.

In it junior segmentthe highest salary claim is also in Chile with 891 dollars per month. Next is Panama with 763 dollars per month, Argentina at the official dollar rate with 668 dollars per month, Argentina at the MEP dollar rate with 560 dollars per month, and Ecuador with 546 dollars per month. Finally, the lowest salary claim is in Peru, with 535 dollars per month.

The salaries required by Peruvians showed a decrease of 3.44% from May 2020 to May 2024

Regarding the evolution of the required salary in dollars in the region from January 2021 to May 2024, Panama and Ecuador are the countries with the greatest salary stability. In the final stretch, Argentina presents a sharp drop in salaries measured in official dollars and a recovery in salaries measured in MEP dollars, thus narrowing the gap.

Regarding the accumulated variation from May 2020 to May 2024, Peru recorded a decrease of 3.44% in the required salary, being the the only country that shows a negative variation in average wages during this period.

In Argentina, the MEP dollar showed a positive variation of 47.89% during this period. However, the salary measured in official dollars only showed an increase of 9.23%. In Panama, Chile and Ecuador, an increase in the average intended salary of 0.89%, 11.18% and 2.30%, respectively, was observed.

In relation to the year-on-year variationl (from May 2023 to May 2024), Peru presents a decrease of 0.84%The downward trend is repeated in Chile and Panama, with a 3.35% and 2.22% decrease, respectively. During this period, Argentina experienced a 19.43% drop measured in official dollars. The countries that showed an increase in the interannual variation were Argentina, measured in MEP dollars, with an increase of 25.19%; and Ecuador, with an increase of 1.79%.

The intended remuneration has experienced a Cumulative increase in all countries in the region so far in 2024. In the case of Perua was recorded increase of 0.40%Other countries such as Chile, Ecuador and Panama have also shown growth during this period, with increases of 0.98%, 1.12% and 3.74%, respectively. In Argentina, a notable recovery of the required salary was observed, with an increase of 53.91% measured in MEP dollars and 30.71% measured in official dollars.

Salaries in three key sectors: Technology and systems; Administration and finance; and Production, supply and logistics

The study carried out by Jobint also considers the average intended salaries of junior, senior/semi-senior and head or supervisor positions three sectors from the world of work: Technology and systems, Administration and finance, and Production, supply and logistics.

In Technology and systems, the remunerations required for junior positions They are 1,087 dollars per month in Chile, 814 dollars per month in Panama, 692 dollars per month in Argentina at the official dollar rate, 628 dollars per month in Peru, 590 dollars per month in Ecuador and 580 MEP dollars per month in Argentina.

Within the segment of senior o semi senior They are 1,521 dollars per month in Chile, 1,300 dollars per month in Panama, 993 dollars per month in Peru, 965 dollars per month in Ecuador, 935 dollars per month in Argentina at the official dollar rate and 784 MEP dollars per month in Argentina.

In the categories of boss or supervisorthe highest required salaries were in Chile with 1,835 dollars per month. Next in Panama with 1,550 dollars per month, Ecuador with 1,380 dollars per month, Peru with 1,363 dollars per month, Argentina at the official dollar rate with 1,255 dollars per month and Argentina at the MEP dollar rate with 1,052 dollars per month.

In Administration and financethe salaries sought for the junior positions They are 881 dollars per month in Chile, 762 dollars per month in Panama, 693 dollars per month in Argentina at the official dollar rate, 581 MEP dollars in Argentina, 556 dollars per month in Peru and 538 dollars per month in Ecuador.

Within the segment of senior o semi senior, Salaries are $1,297 per month in Chile, $1,050 per month in Panama, $991 per month in Argentina at the official dollar rate, $861 per month in Ecuador, $848 per month in Peru and $831 MEP in Argentina.

In the categories of boss or supervisor, The required salaries are US$1,521 per month in Chile, US$1,352 per month at the official dollar rate in Argentina, US$1,305 per month in Peru, US$1,261 per month in Panama, US$1,198 per month in Ecuador and US$1,134 MEP in Argentina.

In Production, supply and logisticsthe suggested salaries for the junior positions In descending order, they are $821 per month in Chile, $776 per month in Panama, $739 per month at the official dollar rate in Argentina, $619 MEP in Argentina, $607 per month in Peru, and $555 per month in Ecuador.

Within the segment senior o semi senior In descending order, salaries are $1,397 per month in Chile, $1,173 per month at the official dollar rate in Argentina, $1,059 per month in Panama, $983 MEP per month in Argentina, $936 per month in Peru, and $900 per month in Ecuador.

In the categories of boss or supervisor The required salaries are US$1,692 per month in Chile, US$1,300 per month at the official dollar rate in Argentina, US$1,271 per month in Panama, US$1,234 per month in Peru, US$1,139 per month in Ecuador and US$1,090 MEP in Argentina.

Peru recorded a gender pay gap of almost 8% in May

In May 2024, the Gender gap in required wages in Peru shows a difference of 7.94% in the salaries sought between male and female applicants. Compared to other countries in the region, Peru has a larger wage gap than Panama, with 6.66%, and Argentina, with 7.42%, but smaller than Ecuador, with 8.07%, and significantly smaller than Chile, with 13.67%, the latter being the country with the largest wage gap in the region.

According to the evolution of the wage gap from May 2020 to May 2024, Peru had one of the highest rates with 10.77% in favor of men, ranking third among countries with differences in the remunerations required by men and women. Panama has stood out for having the lowest average wage gap in the region. In contrast, countries such as Argentina and Chile occupy the top spots in this regional ranking, showing wider average wage gaps.

*For Argentine salaries, the official dollar and the MEP dollar were taken into account due to the particular currency situation in that country.

 
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