Financial benefits are an attractive source of money and are able to significantly augment the fixed component of one’s annual income. Employers use these benefits to motivate employees throughout the calendar year. Some of them also awarded an year-end bonus to thank them for their overall performance at the end of the fiscal year. It is important to remember that only some employers offer this form of financial benefits. It largely depends on the employer’s financial condition. Non-financial benefits are more prevalent in practice. The Paylab salary portal analysed the salaries and prevalence of financial benefits for individual positions.
The international Paylab network, which includes 19 localised salary portals, has introduced an innovative way of salary data processing. The innovation lies in the use of regression models that improve the salary analyses and provide more comprehensive and detailed data on employee remuneration. This method makes it possible to extract much more information from the collected data and, according to the relationships between the individual datasets, better estimate salaries for job positions with insufficient salary data. It can also fully satisfy a wider range of clients interested in salary reports.
The guarantee of a regular wage paid to one’s account is the main reason why the vast majority of working people still prefer internal employment to freelancing. This is the result of an international Paylab Data Research survey, which took place in May and June 2018 over a sample of 42,800 respondents in 11 European countries. The overwhelming majority of employees (78%) still believe internal employment is a better form of working relationship with an employer than external collaboration (freelancing).
Time is money and that goes double for the company benefit of extra holiday time. In other words, a company is willing to provide an employee with more time off that is included their salary. More time off during the calendar year is currently one of the most attractive modern company benefits. A Paylab.com survey found that its attractiveness, together with flexible working hours, is on the rise. How many employees do receive 1 to 5 extra days off over and above the legally mandated holiday time? In some countries, however, going on holiday is a true luxury.
University education pays off according to the Paylab.com international portal. This analysis has found that the level of attained education is a key factor influencing the salary and salary growth of individuals during their lifetime. Graduate employees earn up to half more than the monthly average of those with secondary school education. Pay grows with increasing employee age - with a more dynamic career pay progression. In terms of lifetime earnings, graduates‘ salary advantage gap will typically never be narrowed by secondary school leavers.
Paylab, an international salary portal, launched an iOS version of the Paylab Salary Checker. It is good news for iPhone fans, who can also use the mobile app to compare salaries. The app is free and available for download at the App Store. The app is for all employees who want the bigger salary picture, who are unsatisfied with their salary and want to do something about it, and those looking for a job and wanting to know the value of labour for a particular position.
Have you worked for the same employer for a long time or do you change jobs often? What’s the ideal length of time to spend working for one employer? Does it pay off to be loyal? We tried to find the answers to these questions in the international Paylab Compensation Monitor, a survey of employees conducted in January and February 2018 on a sample of 57,719 respondents from 12 European countries.
Salary differences between men and women are a persistent global issue referred to as the “Gender Gap”. Almost everywhere in the world, the average salary of men is higher than that of women. This is, to a large extent, caused by the fact that women generally work in professions with lower financial compensation. The distribution of women across the individual salary brackets is significantly different than men. While a significantly higher percentage of women perform work falling within the lowest income group, at the same time, compared to women a higher percentage of working men perform work for which they receive the highest salary in the market.
Salaries for employees in the trade sector (wholesale and retail) are considerably imbalanced in the Czech Republic - significant differences are primarily between the capital and the rest of the country. An examination of statistical salary differences by regions reveals that total salaries for trade employees in Prague are up to 43% higher than in other regions, which equates to around CZK 9,833 more for employees in Prague.
The most important criteria for employees when choosing a new job is clearly a better salary compared to what they currently earn. More money and financial benefits are the deciding factors for 63 per cent of employees when choosing between different jobs. A higher salary is the key criterion in up to three quarters of all cases involving those feeling underpaid. An attractive job description is the second most important factor considered when making a career change decision. More engaging work is a strong motivating factor for change for those who are satisfied with their current salary. This is associated with the third strongest criterion, an inspiring and stimulating environment, where an employee can make the most of their knowledge and skills.