What can you expect of salaries in 2016?
In an economy that is showing increasing signs of upturn, there will be more opportunities on the employment market. Why would a top-level professional - who often receives multiple job offers - select your company? The salary package is not the only determining factor, but it can often make the difference. Make sure the remuneration you offer compares positively so that you have a competitive edge in your sector and region.
To help you make decisions in relation to remuneration, we are happy to recommend to you the Robert Half Salary Guide 2016.
Finance and accounting
The growing internationalisation of accounting standards, the greater need for the management of and adherence to financial regulatory requirements and, moreover, the increased digitalisation of accounting and financial reporting has led to a greater demand for finance professionals.
Employers endeavour in various ways to distinguish themselves from their competitors so that they can successfully attract and retain the best professionals and various companies acknowledge the importance of pay rises in this process. Almost two thirds of CFOs and finance directors say that they are more likely to offer higher salaries compared to three years ago.
These are the financial positions for which the average starting salary has increased the most:
- (Junior) Accountant: 2.4%
- AR/AP/ Assistant Accountant: 1.5%
- Finance & Administration Manager: 1.4%
- Credit Controller: 1.4%
- Controller: 1.4%
In addition to financial incentives, there is a wide and varied range of non-financial benefits. Companies may also distinguish themselves by offering extra advantages, such as flexible working hours, telecommuting and more leisure time. These advantages, which fall under work-life balance, have become increasingly popular in recent years and companies are taking more and more steps to join the trend, also as they provide an attractive alternative to salary rises.
The demand for administrative profiles is on the rise. Companies are looking for specialised administrative assistants in various function domains ranging from customer service to HR, office management, logistical support and administrative assistance of the sales team.
Bolstered by the revival of the economy, more and more HR managers expect salaries and bonuses to increase. Of HR executives, 24% is expecting a rise in their employees' salaries, 86% is awarding bonuses and 14% says they will be increasing the amount of the bonus.
These are the administrative positions that have shown the strongest increase in average starting salary:
- Logistics Administrator with 0-2 years experience 2.6%
- Logistics Administrator with 3-5 years experience 2.8%
- Management Assistant with 3-5 years experience 2.8%
- Payroll Assistant / Officer with 3-5 years experience 2%
- Customer Service Agent with 3-5 years experience 1.5%
With a few clicks you can calculate the average starting salary for specific roles in 2016.
This salary calculator can assist you in preparing for your next salary negotiation or during a job interview. This method will help everyone adjust their expectations more accurately to the reality.
The average starting salary varies from region to region. A starting salary for a financial, accounting and administrative profile is higher in Brussels, Waver, Zaventem and Antwerp than in the rest of the country.
There are also differences depending on the recruitment ambitions per sector.
Top candidates who have highly sought after or difficult to find skills regularly receive multiple job offers and are in a strong position to negotiate their salary. Companies are increasingly aware that competitive remuneration packages are essential to attract the necessary talent. The 'War for Talent' is still going strong.
The revival of the employment market will make more jobs available. This may result in higher staff turnover. The importance of staff retention is therefore becoming ever greater.
This research is based on:
- Thousands of filled vacancies and countless job interviews held via our offices
- Local insights from our consultants and managers
- Information from the Belgian Federal Authorities: Directorate-General Statistics and Economic information //or// Statistics Belgium and FPS Economy
- Our unique 'workplace survey', an independent survey taken by 200 Belgian CFOs and financial directors, and also 200 Belgian senior HR managers
- Numerous professional interactions with HR and finance professionals
- Our comprehensive analysis of current and future recruitment trends
On the basis of the percentage variations, salaries can be modified for various Belgian regions, including Brussels, Antwerp, Charleroi, Ghent, Hasselt, Liege, Roeselare, Waver and Zaventem. The selected regions concur with the locations of Robert Half/Accountemps/OfficeTeam offices.