Salaries rise, but they give less and less. At least that is the perception of three out of every four workers in Spain, who feel that They have lost purchasing power or they have not improved it in the last two years, despite having chained annual salary increases. This leaves an increasingly widespread feeling: working serves to cover holes, but not to live better.
In response to this perception, the majority cut back on leisure and vacations to face basic housing expenses, shopping basket and paying bills. What is striking is that only a minority consider asking for a salary increase in 2026.
They don’t make it to the end of the month. The photograph left by the last InfoJobs report It is that of a labor market in which 38% of workers have lost purchasing power in the last two years and 34% say that it has remained the same. This means that almost three out of every four employees have not perceived a real improvement in their ability to save or in its purchasing power.
The survey indicates that only 28% claim to have increased their purchasing power. This situation occurs especially in young people between 16 and 24 years old who are entering their first jobs, so they start from a very low previous income.
The salary in Spain. According to Eurostat data The average annual salary in Spain in 2024 was 33,700 gross euros, below the 39,808 gross euros that on average registered the European Union. But the averages leave room for interpretation.
If we use the data collected by the last 2023 Annual Salary Structure Survey, The median salary in 2023 was 23,349 euros, while the modal salary (the most common) was within the limits of the Minimum Interprofessional Salary with 15,574.85 euros per year.
Increases that do not compensate for inflation. The InfoJobs survey indicates that 52% of those surveyed have had a slight salary improvement and 6% recognize a significant increase. Even so, only 40% declare that they have improved their purchasing power, which indicates that a relevant part of these increases has been absorbed by inflation and the rising cost of living.
Among those who have received salary increases, a considerable proportion indicate that their economic capacity remains the same or has even worsened. InfoJobs summarizes this gap by noting that “perceived increases are not translating into a real match with the cost of living.” Furthermore, moderation weighs on expectations of increases in the future and they expect insufficient increases in the coming months. 69% estimate that the salary improvement will be less than 1,200 euros gross per year (an increase of 100 euros gross per month) and half do not plan to exceed 2,400 euros gross per year.
The payroll goes to housing and basic expenses. The spending structure reinforces the feeling of suffocation in which 92% of those surveyed have had to cut expenses. The InfoJobs survey indicates that dwelling and the shopping basket They add up to 44% of the workers’ monthly budget.
Savings represent only 10% of the salary, which greatly limits the possibility of building a financial cushion or facing unforeseen events. Between the ages of 25 and 44, a stage in which mortgages or high rents are usually assumed, housing absorbs 26% of the salary. This implies applying cuts to spending, which are concentrated mainly on leisure and free time (78%), and on vacations and getaways, with 75% of workers having cut their budget to cover the essentials.
Dissatisfied with salary. The survey reflects that 33% of workers are dissatisfied with his salaryespecially women under 35 years of age and people with low or medium salaries. Despite everything, the percentage of general dissatisfaction decreases compared to the 39% that was registered in last year’s consultation.
However, this discontent does not translate into an intention to ask for a raise. Only 17% of workers plan to ask for a salary increase in the coming months, while 83% will not do so. Among those who do not plan to apply for it, just over a third attribute it to the fact that they expect the employer to take the step (21%) or to the fact that they have already had a recent review (16%).
A complicated labor market. The majority consider it difficult to find a job that provides a substantial improvement in their current salary or working conditions, which causes a certain immobility in the active search for improvement by changing jobs, as is the case. how it was happening in recent years.
The conciliation conditions appear as the most difficult aspect to improve for 45% of employed people, closely followed by the possibility of accessing better salaries, which 42% see as especially complicated. According to the authors of the report, “taken together, the data reflect a labor market that workers perceive as not very permeable to improvement, where progress in salary, conciliation or professional development is increasingly complex.”
Image | Unsplash (Emil Kalibradov)
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