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The wages that come
8% of the companies will congeal the pays in 2009 and two thirds do not have predicted changes 8% of the companies will congeal the pays next year, and another 24% will change their wage policy more. The rest will follow the expectation of the economic situation. A survey of realized PricewaterhouseCoopers the past month also anticipates an average increase of the pays of 4.6%, and that in 2009 the inflation will be the main criterion when defining the wages. The ascent will be the same as much for managers as for employees. The person in charge of Wage Studies of Price, Almudena Hernandez, stressed yesterday when presenting/displaying the report that hoped that it threw more alarming data, like a greater number of files of use regulation. In any case, of 68% that has not anticipated any change, the majority “during three months will be pending than it happens around”, according to Yolanda Gutiérrez, director of Services of Human Resources. Between the measures that prehorseradish tree to take the companies, emphasizes the freezing of wages, a greater consideration of the collective objectives that individual when determining the variable part of the pay (14% of companies have intention to do it), and the reduction of this part of the pay (4%). This wage game, that in the last five years has grown from 5% to 15% of the total, will be the one that is more affected by the bad economic situation. “He is not something consolidated as much people believed”, she affirmed Gutiérrez. Also it rejected that the companies consider that there is a direct correlation between variable repayment and financial crisis. “This type of wage allocation already is in all the sectors, although the banking one was pioneering”, remembered. Be that as it may, the financier will be the sector that reviews its wage scheme more. He will do 44% of the organizations, against 32% of the total of companies. According to the directive of Price, “within two or three months” the companies will review the wage criteria of their managers to fit them to the recommendations of good government, like it has happened in the United Kingdom. According to the position, the variable part can suppose between 5% and 30% of the pay, and now it will be seen more tie the global objectives. “They are not going switch fire, which will change will be the consideration of the collective objectives, that will gain more weight with respect to the individual ones”. The survey has been carried out between 195 companies, all with more than 300 workers. The asked directors of personnel agree in three basic rules when fixing the wages: to maintain the spending power and to increase to the level of performance and the productivity of the professionals, as well as to control the costs. As form of commitment between the three, the growth of the IPC becomes 2009 in the main indicator of the increase. “Before it was made plus a study of the market”, pointed Gutiérrez. For 2008 the Government anticipates that the inflation is of 3.5%, whereas the wage increase anticipated by the companies in September was of 4.6%. Only a month before was still of 4.2%. This increase is the one of the total mass, which means that individually the ascents could be lower or higher. The representatives of PwC clarified that in many cases those are the collective agreements that mark rules of the pays. For 2009, the average forecast of increase of pays will be between 4.2% and 4.5%. The analysts, the most harmed the financial crisis have put in the front sight the high advantages that the executives of the companies acquire. Now, the companies have begun to limit these bonus - that in many cases is equal or superiors to the fixed repayment, and first affected have been the associated analysts and of the business of Leverage & Adquisition Finance (leverage and financial acquisitions) of the investment bank. In 2007, their income by advantages were mainly reduced a 42%, due to the sharp reduction in the number of financial operations. They are data of the comparative Analysis of the repayments in investment bank and private equity in Spain presented/displayed yesterday by the consulting Beam & Partners, for which they have analyzed the wages of 30 companies of risk capital and 43 institutions of investment bank. Generally, the increase of the repayments in the investment bank was very moderate during the past year. The wages of high positions as managing director did not undergo variations, neither in the fixed repayments nor in the variables, and stayed in the 500,000 annual Euros of average. The total pay of the analysts and associates, nevertheless, fell a 18%, until the 84,000 Euros to the year. The business of fusions and acquisitions, on the contrary, underwent general wage ascents - except in managing director, among 4% and 10%. The study emphasizes that the dominant model of investment bank, composed of great divisions very specialized, is disappearing to become a more global financial conglomerate, than east Integra service with others like the commercial bank or the private one. This new situation has caused that many professionals of talent are looking for new projects, an opportunity that, according to Beam & Partners, must be taken so much by the banks as by the commercial companies. The study also takes care of the repayments in the risk capital. The fixed compensations did not undergo important changes in 2007, whereas the advantages lowered considerable a 31.6% in the category of the executives of investments. The analysts, in this case, saw grow his bonus a 10.7%, whereas the directors of investments conserved the same wage. The report comments that in the sector of the risk capital a very significant fall (as much in number as in volume of transactions) in the market of acquisitions has taken place “”. For this reason, the consulting esteem that this year will be no great ascents in the fixed repayments, whereas bonus falls rather more. (The extracted News of Five Days)
 
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