Interconsult salary report
Salaries highest in medical electronics
How much is the electronics industry paying its employees this year? How high are salaries in automation technology? The management consultancy Interconsult has completed this year's electronics salary comparison.
Last year, things went well in the electronics industry. It provided employees with generous bonuses and salaries, causing salaries to rise by over 3.5% on average. This year, too, the high level can be maintained: On average, there will be a further 3.5% increase. Medical electronics tops the salary table in 2017. It ousted the previous year's winner, automation technology, from first place.
The positive economic development is set to continue this year: "There has been an upward trend in all areas," explains Interconsult Managing Director Dietrich Graf von Reischach. Salaries do not always keep pace to the same extent; bonuses are often capped, explains the personnel consultant. Interconsult has already factored the expected bonus fulfillment - up to 40% in sales, for example - into the salaries.
Admittedly, the initial situation is fragile: "Global uncertainties, above all possible import tariffs by the new US government, a possible 'Frexit' after 'Brexit' and national sabre-rattling are factors that could impact the economy - and therefore bonuses - at any time," says von Reischach.This year's salary report foresees an increase of 2.5% to 4% in fixed salaries - what von Reischach calls "retention bonuses". The main reason: a shortage of skilled workers. "
This year we have reached a temporary peak. We can speak of an absolute catastrophe for some companies," says the consultant. Some sought-after positions (analog, embedded software) are so difficult to fill that the salary range is practically open at the top, says Graf von Reischach: "As much as he or she wants to earn".Technically skilled sales people, for example, have very good opportunities on the job market. "Sales used to go to the customer together with the FAE. Today, the sales department has to do it alone. If you are technically fit and a good salesperson, you have an almost unlimited choice of employers," explains von Reischach.
Graf von Reischach no longer considers "retention bonuses" to be sufficient to secure such valuable employees. "Income is important for employees. But it is no longer decisive. Competition for real specialists is extremely high, and other factors count for them: they want to be taken seriously, have a say and scope for decision-making, an open communication culture and benefits such as remote working."
The complete salary report can be requested from Interconsult.
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