In response to the high inflation and the tense situation on the labor market, the German-Baltic Chamber of Commerce (AHK) conducted its survey of approximately 460 members in January 2023 in order to find out the trends of wage growth in the Baltic States. It is concluded that most companies will increase the salary this year.
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From this survey, it follows that the members of AHK Baltic states plan an average salary increase of 7.97% in 2023. However, among some industries, wage increases can exceed 10 or even 15 percent, survey respondents reported. The sectors of AHK member companies with the largest planned wage growth in 2023 are IT, industrial production, transport and logistics, as well as professional services.
16% of the surveyed companies in the Baltic States indicated that in 2023 they plan a salary increase in the range of 10-12%, 11% of respondents indicated that the salary increase could be 4-6%, and 2% of the survey participants indicated that the salary increase could even exceed 16 %, and only 4% of respondents admitted that they do not plan a salary increase this year.
It should be noted that 89% of the surveyed companies stated that it is about increasing basic salaries, and 11% – that it is more about one-time payments.
In AHK member companies, the average salary increase for manual workers in the previous year (2022) was 9.43%. In contrast, the average began the increase for office and administrative workers was 7.9%.
31% of respondents to this survey are Lithuanian companies, 30% – Latvian and 22% – Estonian companies, while 17% of respondents work in two or all three Baltic countries.
