SURVEYRESULTS

Q: If you were to move, how much of a % increase would you expect to receive in your total compensation?

320 participants (candidates) responded to the following question: If you were to move, how much of a % increase would you expect to receive in your total compensation? Nothing, Up to 10%, 10 – 20%, 20 – 30%, 30 – 50%, Above 50%

The results of this question have come as a surprise, especially with 65% of respondents expecting to receive a compensation increase of 20% or more This significant rise is likely due to the current economic conditions, such as the rising cost of living, economic uncertainty, and increased competition.

As the market conditions cool, there is an expectation that compensation expectations will follow suit and adjust accordingly We anticipate this realignment to occur over the next few years, culminating at the end of 2024 and the start of 2025. Companies should plan for a transition period as salaries are readjusted to reflect the current conditions of the marketplace It is important to note that compensation packages may look different from what they have in the past, so employers should be prepared to adapt accordingly