In this latest 2021 compensation study by Hays Recruitment, the impact of Covid19 is prominent.
The New Deal in Hiring
Since March 2020, the Luxembourg labor market has changed due to the Covid pandemic. To protect the health of their employees, companies have had to adapt to the health context to protect
They have had to face many challenges to maintain their profits and ensure their continued development.
A new working environment
In a record time and in an uncertain context, companies had to integrate new work methods with telecommuting and the management of dispersed teams. They had to modify their procedures by acquiring new computer tools. At the same time, they had to change the sales channels and develop online sales. This new work environment has been translated differently depending on the sector and the company.
Nearly 70% of the companies continued to recruit, with nearly half of them on permanent contracts. The IT and telecom sectors, financial services (banking/insurance), and accounting have been the most active in this area.
In addition, compensation remained stable in nearly 90% of cases. The increases recorded have remained fairly small, between 2.5 and 5% maximum.
Flexibility, a major criterion in the job search
As a result of this unprecedented health context, remote work has developed strongly.
Flexibility is now favored by employees. In practical terms, teleworking has become part of the work environment.
Telecommuting opportunities are discussed by job applicants at the first interview. Telecommuting is now a significant benefit in kind.
The professions and the skills sought
Horeca, investment funds, construction, home delivery, financial regulation are sectors that are getting stronger. The IT and project management professions are also on the rise.
Other professions linked to the revalorization of raw materials, cloud architects or baristas are developing to follow the new environmental, technological or societal trends.
Jobs in short supply
At the same time, there is a strong shortage in the craft trades (butcher, electrician, etc.) or in trades where a high level of qualification is required.
This is particularly true for computer scientists and lawyers.
Highly valued skills
Specific skills such as language skills are highly valued in Luxembourg, given the country’s linguistic particularity.
as well as transversal skills such as management, digital or personal skills.
Sectors that are recruiting: who and how many?
Architecture, design offices, building and public works sector
The construction sector is a very active and dynamic sector in Luxembourg.
You only have to look up to see the impressive number of cranes and construction sites along the roads, in the various districts of Luxembourg City or in the rest of the country. The south of the country is embarking on large-scale projects inspired by the Belval zone in order to revitalize this area and harmoniously mix housing, offices and commerce.
There are also numerous infrastructure projects to adapt the means of transport to the growth of the population. The electrical and climatic engineering sector also provides jobs and attracts young graduates from neighboring countries.
Among project managers, bilingual profiles in French and German, or even trilingual with Luxembourgish, are highly sought after. Experienced profiles are the most sought after.
However, a lack of resources gives the candidates the upper hand, with an overbidding of salaries. A new transverse function is emerging, the Building Information Modeling or Management to facilitate construction projects.
Salary ranges in the field of architecture vary between 30,000 and 110,000 euros gross per year
- draughtsman: 30,000 euros for a draughtsman without experience to 60,000 euros beyond 8 years of experience,
- interior design : 31.000 to 48.000 euros according to experience
- urban planner : 33.0000 to 63.000 euros according to experience level
- architect : 33.000 to 67.000 euros
- experienced project manager: up to 70,000 euros
- experienced Agency Manager: up to 110,000 euros per year
In the construction industry , salaries vary from 28,000 euros to 100,000 euros and more
- Site manager with less than 3 years experience: 28,000 euros
- Works manager : from 35.0000 to 65.000 euros
- Engineers / Project Managers: from 50.000 to more than 75.000 euros depending on experience
- Operations manager: from 90,000 to more than 150,000 euros
- Project manager in electrical or climatic engineering: from 32.000 to 73.000 euros
- Experienced works managers: more than 100,000 euros per year, 95,000 euros maximum for interior works.
Corporate finance and accounting sector
Since 2016, the finance and accounting sector has been on a roll in Luxembourg. Despite the health crisis, this sector has continued to recruit. Financial constraints have prompted the recruitment of operational staff quickly.
The trend is to internalize financial and accounting processes. In addition, companies seem to want to anticipate future retirements in the next 2 or 3 years. Real career plans are offered to professionals in the sector. Referral positions are being created to supervise junior teams.
On the other hand, compensation in this sector has increased only slightly. Companies preferother forms of remuneration such as social packages, mutual insurance or pension plans, or even luncheon vouchers and company cars.
Salaries from 30,000 to over 120,000 euros in the finance and accounting sector
- Credit manager: from 53,000 euros per year for profiles with less than 3 years experience, 83,000 euros for an experienced profile
- Chief accountant: from 55.000 euros to more than 99.000 euros
- Accounting manager: from 68,000 euros to 105,000 euros for an administrative and financial manager
- Financial Director: 125,000 euros and more
- accountant : from 30.000 to 50.000 euros per year
- management controller: from 45.000 to 105.000 euros
- financial controller: from 55,000 to 116,000 euros
- listeners: from 37,000 euros
Financial services, banking, insurance
Luxembourg is a leader in the field of investment funds and the leading investment center in the European Union. Indeed, it continues to attract major international financial institutions.
With more than 50,000 jobs, the sector is recruiting more and more operational jobs, especially in private equity and real estate.
The compliance and risk businesses are also growing.
Bilingual French/English profiles are highly sought after. There are still many job opportunities.
Salaries from 35,000 to over 100,000 euros in financial services, banking and insurance
- Operational professions: salaries from 38,000 to over 100,000 euros
- Compliance: 40 to more than 100,000 euros expected depending on the expertise
- Risk trades from 35 to 100,000 euros or more.
IT and telecom sector
The sector is stabilizing after a strong growth in Luxembourg, due to the relocation of IT services to the Grand Duchy and the investments made by the government in this area.
Nonetheless, fintechs still provide employment and the outlook is good for the employees who remain. The health context has opened up new perspectives and new projects.
Salaries from 32,000 to 120,000 euros and more in the IT and telecom field
- junior test engineer: from 35,000 euros per year
- software architect or functional project manager : from 120.000 euros
Infrastructure and security
- technical assistance service: from 32,000 to 60,000 euros depending on the level of experience
- system and network administrator: from 38.000 to 75.000 euros
- systems and network engineer: from 40 to 80,000 euros.
Business Intelligence and ERP
- confirmed data scientist : from 35.000 euros in the low range to 100.000 euros
- IT project manager: from 45.000 to 100.000 euros and more for experienced profiles
- senior IT manager: between 120 and 250,000 per year.
The sector continues to invest in Luxembourg with the creation of new production units and the optimization of existing plants.
Technical, qualified and operational profiles remain in demand with astrong demand for process, method and design engineers .
Salaries remain relatively stable, except for profiles in shortage such as Engineers and Automation Technicians. Trilingual profiles are sought, German, English, French.
Salaries between 30,000 and 170,000 euros per year
- Experienced industrial site manager with an annual salary of up to 140,000 euros, or even 170,000 euros in the finished goods or mass production industry.
- quality manager up to 90.000 / 110.000 euros for an experienced profile
- R&D engineer: from 35,000 euros to 70,000 euros for an experienced profile, even 110,000 euros for an R&D manager
- production manager: from 35,000 euros for a beginner to 120,000 euros for an experienced person on large production sites
- maintenance technician: from 30.000 to 50.000 euros.
The HR function has changed significantly with the pandemic. Companies are looking for profiles capable of accompanying the profound changes in the company.
Already faced with digitalization, the sector must now manage teleworking while maintaining team cohesion and entrepreneurship. The challenges are numerous and companies are looking for experienced profiles, capable of developing processes and maintaining activities.
HR teams must master digital tools and ensure a constant presence with employees. Recruitment outsourcing is a strong trend.
Salaries from 30.000 to more than 130.000 euros per year
- HR Assistant: from 30,000 to 52,000 euros per year
- HR Manager: from 37.000 to 68.000 euros per month depending on experience
- Senior recruitment manager up to 93,000 euros per year
- Training manager up to 83,000 euros for an experienced profile
- Payroll manager: from 30.000 to 73.000 euros per year, Payroll manager up to 93.000 euros
- HR Manager up to 93.000 euros
- HRD up to 134.000 euros per year.
Assistance and secretarial services
This market continues to recruit with more and more demanding profiles for candidates.
They must have good analytical skills and be able to manage increasingly complex projects.
Multilingual profiles with good business and IT technical skills are preferred. The candidate has all the more chance of being recruited if he or she can prove expertise in the sector of activity concerned.
The candidate will also have to share the values of the company and show an adequate know-how.
The salary prospects are good, commensurate with the skills required. Good profiles are sought after and necessarily valued in terms of remuneration. Multilingual profiles receive a higher salary of approximately 2,000 euros.
Salary ranges from 32,000 euros to 60,000 euros depending on profile and skills.
- Executive assistant: multilingual profile from 33.000 euros per year to 60.000 euros
- Office assistant: from 32,000 to 54,000 euros for a multilingual profile
- Specialized assistant: from 32,000 to 45,000 euros for a commercial assistant, and up to 54,000 euros for a legal assistant.
- Support functions such as receptionist or administrative assistant: from 32,000 to 42,000 euros
Commercial, marketing and communication sector
In the commercial field, companies are above all looking for multilingual profiles, especially German speakers . Germany is one of the main countries of exchange with Luxembourg. The profiles sought must be able to interact with the local population.
Mobility and technical knowledge, especially IT, are valued .
Moreover, as the digital channel is taking over following the pandemic context, skills in this area are necessarily valued.
If remunerations were historically based on a variable salary, employees are now trying to reduce this part of their salary and give preference to the fixed part. In 3 out of 4 cases, a company car is granted.
Salary ranges from 26,000 euros to 150,000 euros depending on the profile, experience and sector of activity.
- sedentary customer consultant: from 34,000 euros to 49,000 euros
- junior marketing officer: 36,000 euros per year
- marketing manager: up to 75,000 euros
- sales engineer: from 45,000 euros per year to 90,000 euros for a technical sales engineer.
- sales manager up to 130,000 euros.
- sedentary salesperson: between 34,000 and 50,000 euros depending on the level of experience
- itinerant sales representative: between 35 and 65,000 euros if he is experienced
- sales manager up to 125.000 euros if he is experienced.
IT sector IT
- account manager: from 36,000 euros
- sales manager: up to 150,000 euros
- beginner salesman : from 33.000 euros per year
- car fleet manager: up to 82,000 euros
Fashion and luxury
- Entry-level salesperson: from 26,000 euros to 44,000 euros per year after 8 years of experience,
- Regional Sales Manager: up to 64,000 euros.
Supply chain, purchasing and logistics
Whether for road, river or air transport,Luxembourg is now recognized as the European logistics center.
Cargolux is a reference in the field of air cargo transport. The multi-modal railway center in Bettembourg has taken its place in the market.
The profiles we are looking for are analytical profiles in order to further improve the processes.
If salaries remain stable in this field, multilingual (French, German and English) and technical profiles clearly have a place to make in an international market. Field experience is valued.
Salaries in logistics and supply chain vary from 36,000 to 140,000 euros per year
- project buyer: between 36 and 80,000 euros per year
- Purchasing manager: from 52,000 to 95,000 euros
- purchasing manager: from 82 to 140,000 euros per year.
Supply chain, logistics and transportation
- transit agent: between 30 and 50,000 euros per year
- operations manager: between 39 and 55,000 euros
- supply chain manager: up to 110,000 euros per year, or even 130,000 euros in the industry.
Due to its central location in the heart of Europe and its economic situation, Luxembourg attracts companies in the legal sector.
Today, new law firms are appearing on the market. They are looking for profiles capable of managing international relations and links with the Commission de Surveillance du Secteur Financier.
Legal salaries range from 35,000 to 150,000 euros and more depending on the profile
- jusriste : remuneration from 35 to 85.000 euros p
- senior partner: up to 110,000 euros
- partner from 120 to 160.000 euros.
- secretary: remuneration from 40 to 80.000 euros
- tax manager: 110,000 euros
- head of tax : 150.000 euros
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