IT Salary Benchmark (ITSB) Europe 4Q23 Edition is meant to support HR leaders, business owners, startup founders, and compensation experts in Europe and the United Kingdom with comparison data and insights from the survey on compensation management.
You can download a preview version of IT Salary Benchmark Europe 4Q23 Edition with a direct link.
See the full report version below.
Intro into benchmark
The economy of Europe comprises about 748 million people in 50 countries. The EU as a whole is the third largest economy in the world, below the United States and China. As of August 2023, 118 (23.6%) of the Fortune Global 500 companies are located in Europe.
Europe’s top 5 largest national economies by nominal GDP (2023 estimates) are:
- Germany (€4.07 trillion),
- United Kingdom (€3 trillion),
- France (€2.79 trillion),
- Italy (€2 trillion),
- Spain (€1.5 trillion)
Europe Economic Outlook 2023-2024
At first glance, the European economy seems to be approaching a relatively benign moment.
IMF expect a whole 2023 growth of Europe as 1.3% (2,7 in 2022), picking up to 1.5% in 2024.
Advanced economies are expected to go from 0.7% to 1.2%, while Emerging European Economies are expected to have a sharper recovery from about 1 to about 3%.
The strength of the labor market is fundamentally good news.
Vacancy to unemployment ratios stand at record highs and unemployment rates at record lows in most of Europe.
The pandemic and the energy crisis have resulted in significant scarring to the level of output. And this comes at a time when countries also grapple with the structural shifts from fragmentation, climate and technological change, and demographic pressures.
Reshoring or near-shoring some aspects of production may present some opportunities to some countries, these are only available if cost competitiveness is preserved, especially on wages.
Benchmarking Methodology
While vetting candidates Orange Sputnik accessing to an ample volume of over 5 million candidates applications. Along with processing our own database, the vetting process made it possible to cast this benchmark and make it publicly available in order to assist you in developing or revamping your compensation strategy.
How we run the benchmark:
- Collecting the data
- Anonymizing information
- Harmonizing data into table view
- Redundant records cleaning up
- Validating records
- Aggregating set of value into distinct records
IT Salary Benchmark Europe 2023 is a content developed by Orange Sputnik. By downloading this report you agree to provide your consent to the processing of your personal data by Orange Sputnik to receive the salary report download link and additional content about job search, tech recruitment, and our services.
