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ManpowerGroup: Global Insights | 17 YoY Change – Feb 2023 to Feb 2024 Healthcare and technology saw salary growth likely tied to structural shifts and skilled labor demand, while consumer-facing and industrial categories showed signs of economic pressures on salaries General Roles with Increases/Decreases in Salary • Decreases in salary were observed for roles such as Crew Member, Solutions Specialist, and Cashier within the 'Sales' category, indicating potential pressures in the retail sector. Technical roles such as Technical Architect and Software Engineer also saw decreases, hinting at possible adjustments in the IT sector. • Increases: On the other hand, Infrastructure Engineer, Operations Manager, Product Manager, and Business Operations witnessed significant salary increases, suggesting areas of growth or increased demand within these roles and sectors. IT Roles • Application engineers and IT services roles saw solid salary growth from 2023 to 2024, in the 5-10% range. However, roles like computer communications and internet software/services saw declines. • Highest paid IT roles are in investment banking, financial services, insurance, and software. Lowest salaries in government and telecommunications equipment. Source: Sophie, Only at ManpowerGroup , data as of Jan 29, 2024 Sector Analysis Sectors with salary increases: • Health Care: Several health care industries saw strong salary growth year-over-year, including Generic Pharmaceuticals (+16% for Accountants), Medical Specialties (+3%), and Services to the Health Industry (+6%). • Communication Services: Major Telecommunications salaries grew significantly (+22% for Accountants), likely due to investments in 5G and fiber infrastructure. • Information Technology: Most IT industries saw moderate salary increases, especially in Electronic Equipment/Instruments (+17%) and Packaged Software (+5%). Sectors with salary decreases: • Consumer Discretionary: Industries like Automotive Aftermarket (-10%), Casinos/Gaming (-12%), and Motor Vehicles (-13%) saw salaries decline, indicating consumer spending pressures. • Industrials: Multiple industrial categories showed slowing or negative salary growth, including Aerospace & Defense (0%), Engineering & Construction (-14%), and Trucking (-1%). • Materials: Industries tied to commodities and basic materials, like Containers/Packaging (-5%) and Pulp & Paper (-25%) had salary reductions. Blue Collar Roles • Most blue collar roles like contract drilling, industrial machinery, and trucking saw small 1-5% declines or were flat year-over-year. Construction materials was an exception with 12% growth. • Highest salaries for blue collar workers in electronics, appliance stores, commercial printing, and miscellaneous sectors. Lowest salaries in textiles and pulp & paper. Retail Roles • Cashiers and retail specialty stores saw salaries decline slightly from 2023 to 2024, indicating continued pressure in brick and mortar retail. • However, retail accountant salaries increased across most segments, especially in higher value categories like electronics stores, apparel retail, and department stores.