The myth that the IT sector in Slovakia (Slovakia) still breaks records in wage growth rates is dispelled: fresh data shows otherwise.
It is commonly believed that IT specialists and workers in high-tech industries receive increasing monthly salary bonuses, while traditional sectors lag behind. However, recent macroeconomic indicators for the summer period show a completely different picture.
The chances of finding a job with a higher salary or getting a raise now differ significantly depending on the industry. How incomes have changed in different parts of the economy and where the situation turned out to be most favorable is explained by Forbes.sk in its latest review.
Where the biggest growth was recorded
According to official data from Štatistický úrad SR (Statistical Office of the Slovak Republic), in July the average nominal mzda (wage) increased year-on-year in all ten monitored sectors. However, the real leader in growth rates was large business not related to car trade.
Veľkoobchod (wholesale trade): here nominal earnings jumped immediately by 7.5 percent, and after accounting for inflation, the real increase was 4.1 percent.
Industry: stable indicators hold positions with an average wage slightly above 1,800 euros.
Transport and warehousing: overall, for the first seven months of the year this sector showed the best real dynamics with a purchasing power increase of 2.5 percent.
Where incomes fell or grew minimally
Despite the overall nominal increase on paper, inflation made its adjustments. In several industries, people's incomes effectively depreciated.
The biggest surprise was the decline in the IT sector and telecommunications. Although workers here still receive the highest nominal salary on the market — on average 2,577 euros — after adjusting for inflation their real earnings in July decreased by 0.5 percent. In total for January-July, the decline in this sector reached even 3.4 percent.
Weak results were also recorded in the sale and repair of motor vehicles, where real growth stopped at a barely noticeable one percent per month.
Who earns the least
On the opposite side of the table traditionally remain service sectors with the lowest base salaries.
Restaurants and hotel-restaurant business: workers in gastronomy and public catering earned on average 877 euros in July.
Construction: the average wage was recorded at 1,239 euros.
Accommodation sector (tourism sector): workers in this industry received about 1,319 euros.
Experts note that the overall trend in the economy requires more careful budget planning due to price fluctuations for goods and services, so the choice of industry for employment or career change plays a decisive role for financial stability.
