Middle management lost more purchasing power in 2024, according to the report “Salary Evolution 2007-2024”
EADA Business School and the consultancy firm ICSA Grupo have today presented the 18th edition of the study “Salary Evolution 2007-2024”. This report, which analyses the average salaries of executives, middle managers and employees in Spain, warns of the worrying loss of purchasing power accumulated since 2007, aggravated by recent inflationary peaks and successive economic crises.
The most notable data in the report is the 0.77% reduction in the salaries of middle managers during 2024, which represents an average loss of 345 euros per year. For their part, employees experienced the largest salary increase, with a rise of 2.81%, reaching 27,087 euros per year, while executives achieved a more modest improvement of 0.57%, standing at 88,832 euros per year.
Salaries that do not exceed inflation
Despite increases in some categories, the report highlights that salaries are not able to compensate for the impact of inflation, which affects the purchasing power of workers. According to Jordi Assens, professor of strategy at EADA, “although salaries are growing, they are not able to exceed inflation. We need to diversify towards more innovative sectors that drive sustainable economic growth”.
For his part, David Suárez, managing partner of the ICSA Grupo Research Area, added that “compensation models must adapt to new economic realities, prioritizing increases linked to productivity and avoiding linear models that affect competitiveness.”
Differences by sector and region
The study highlights that the banking sector continues to lead salaries, except in the employee category, where industry is positioned as the best paid with an average salary of 30,565 euros. In contrast, trade and tourism register the lowest salaries, with an average of 18,680 euros per year for employees.
By region, Madrid and Catalonia consolidate their leadership as the autonomous communities with the best remuneration in all professional categories. Also noteworthy is the salary growth recorded in Andalusia for executives (2.80%), the Basque Country for middle management (2.90%) and Castilla y León for employees (6.17%).
The challenge: changing the economic model
The report concludes that, to reverse the trend of loss of purchasing power, it is essential to promote diversification towards innovation-intensive sectors and adopt flexible and sustainable compensation models. These measures will not only help improve business competitiveness but also generate more balanced and lasting economic growth.