As every year, we give you an overview of the sectors of activity that are recruiting in Luxembourg, the profiles sought and the salary scales according to the experience and skills of the candidate (* Source: Hays Recruitment). However, in this latest 2021 compensation study, the impact of Covid19 is prominent.
The New Deal in Hiring
Since March 2020, the labor market has changed due to the Covid-related pandemic. Companies have had to adapt to the health context to protect the health of their employees. Telecommuting, new computer tools, team management, online sales, etc. are some of the challenges they had to face to keep their profits and continue to develop. This new work environment has been translated differently depending on the sector and the company.
Nearly 70% of them have continued their recruitment, of which nearly half are on permanent contracts. The active sectors are IT and telecom, financial services (banking/insurance), finance and accounting .
In addition, compensation remained stable in nearly 90% of cases. The increases recorded have remained fairly small, between 2.5 and 5% maximum.
In the health context, remote work has developed strongly. Flexibility is highly valued by employees. Telecommuting opportunities are discussed by job candidates at the first interview. In practical terms, teleworking has become part of the work environment. Today, it represents an important benefit in kind.
Jobs that recruit: who and how many?
Some professions are growing rapidly. This is the case in particular in the sectors of Horeca, investment funds, construction, home delivery, and financial regulation, which is becoming more stringent. The IT and project management professions are 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.
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.
Specific skills such as language skills are highly valued, as well as transversal skills such as management, digital or personal skills.
Architecture, design offices, building and public works sector
The construction sector is very active and dynamic in Luxembourg. You only have to look up to see the impressive number of cranes and construction sites along the roads, in the different districts of Luxembourg City or in the rest of the country. The south of the country should see major changes with large-scale projects inspired by the Belval area. Numerous projects will have to revitalize this entire 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, including the working population. The electrical and climatic engineering sector also provides jobs and attracts young graduates from neighboring countries.
Project managers, bilingual profiles in French and German, or even with a good command of Luxembourgish, and experienced profiles are the most in demand. However, a lack of resources, or even an overbidding of salaries, gives candidates the upper hand. A new transverse function is emerging, the Building Information Modeling or Management to facilitate construction projects.
Salary ranges in the field of architecture are between 30,000 and 110,000 euros gross
- 30,000 euros for a draftsman without experience to 60,000 euros beyond 8 years of experience, 31,000 to 48,000 euros for interior design projects
- 33.0000 to 63.000 euros for a planner according to his level of experience
- 33,000 to 67,000 euros for an architect and up to 70,000 euros for an experienced project manager
- up to 110,000 euros per year for an experienced Agency Manager.
In the building industry , salaries start at 28,000 euros gross per year for site manager positions with less than 3 years experience. But they can go up to 100,000 euros and more, for positions of experienced works managers (95,000 euros maximum for interior works).
- Engineer from 50.000 to more than 75.000 euros per year depending on experience
- Work manager from 35.0000 to 65.000 euros
- Engineers / Project managers from 50.000 to more than 75.000 euros
- Operations manager from 90.000 to more than 150.000 euros
- Business manager in electrical or climatic engineering from 32.000 to 73.000 euros.
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. Accounting profiles are always in high demand. 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 proposed. Financial constraints have prompted the recruitment of operational staff quickly. The positions of referents were also created to supervise junior teams.
However, remuneration has increased only slightly, as companies prefer other forms of remuneration such as social packages, such as mutual insurance or pension plans, or even luncheon vouchers and company cars.
- Management functions: for profiles with less than 3 years of experience, salaries start at 53,000 euros per year for a credit manager, 55,000 for a chief accountant, 68,000 euros for an accounting director. Experienced profiles are paid more than 83,000 euros for a credit manager, more than 99,000 euros for an accounting manager, more than 105,000 euros for an administrative and financial manager and more than 125,000 euros for a financial director.
- Operational functions: salaries start here for profiles with less than 3 years experience at 30,000 euros per year, 45,000 for a management controller or 55,000 for a financial controller. Auditors start their careers at 37,000 euros. With more than 8 years of experience, salaries rise to 50,000 euros for an accounting assistant, 105,000 for a management controller and 116,000 euros for a financial controller.
Financial services, banking, insurance
As a leader in the field of investment funds and the leading investment center in the European Union, Luxembourg 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.
- 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
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, the sector is stabilizing. 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.
- Porgramming : salaries range from 35,000 eurosper year for a junior test engineer to 120,000 euros for a software architect or a senior functional project manager
- Infrastructure and security: a technical support department can expect to earn from 32,000 to 60,000 euros depending on the level of experience, a system and network administrator from 38 to 75,000 euros, a system and network engineer from 40 to 80,000 euros.
- Business Intelligence and ERP: here, salaries range from 35,000 euros in the low range to 100,000 euros for an experienced data scientist.
- Management: An IT project manager can start at 45.000 and after 8 years of experience earn 100.000 euros and more. A senior IT manager can charge 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 a strong demand for process, methods and design engineers. Salaries have remained relatively stable, except for profiles in short supply such as engineers and automation technicians. The trilingual profiles are required, German, English, French.
- An experienced industrial site manager can be paid up to 140,000 euros per year, 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, remuneration from 35,000 euros at the beginning, up to 70,000 euros as an experienced R&D manager, even 110,000 euros for an R&D manager
- Production manager from 35.000 euros starting to 120.000 in experienced on big production sites
- Maintenance technician from 30.000 euros to 50.000 euros.
The HR function has changed significantly with the pandemic. Already confronted previously with the As aresult of digitalization, companies are looking for profiles capable of accompanying the profound changes in the company: management of telecommuting, management of short-time work, decisions that sometimes have far-reaching consequences, maintenance of team cohesion and entrepreneurial spirit… The challenges are numerous. 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.
- HR Assistant from 30.000 to 52.000 euros per year depending on experience level, 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 in confirmed mode
- 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. The Multilingual profiles with good technical and IT skills are retained. The candidate has all the more chance if he or she has 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.
Salary ranges from 32.0000 euros to 60.000 euros depending on the profile and skills:
- Executive assistant: multilingual profile from 33.000 euros per year to 60.000 euros,
- Office assistant: from 32 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. Here again, multilingual profiles receive a higher salary of approximately 2,000 euros.
- Support functions such as receptionist or bilingual administrative assistant from 32,000 to 42,000 with an additional 2,000 euro bonus for multilingual profiles.
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 and the profiles sought must be able to exchange with the local population. The mobility and technical knowledge, especially IT, are valued. Moreover, as the digital channel takes 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. See benefits in kind.
- Industry sector: salaries start at 34,000 euros for a sedentary customer advisor, 36,000 for a junior marketing manager, 45,000 for a sales engineer. The high ranges for experienced profiles of 8 years and more, go from 49,000 for customer advisors to 90,000 euros for a technical sales engineer. A sales manager can earn up to 130,000 euros, a marketing manager up to 75,000 euros.
- construction sector: a sedentary salesperson can expect to earn between 34,000 and 50,000 euros depending on his or her level of experience, while a traveling salesperson will be paid between 35 and 65,000 euros if he or she is experienced. The salary of a sales manager can go up to 125,000 euros if he is experienced.
- IT sector: salaries here start at 36,000 for an account manager and can go up to 150,000 euros for a sales director.
- automotive sector: while salaries here start at 33,000 euros per year for a beginner, they rise to 82,000 euros for a fleet manager.
- fashion and luxury: if a beginner salesman is paid from 26,000 euros, he can count on up to 44,000 euros per year after 8 years of experience, or even 64,000 euros if he is a regional sales director.
Supply chain, purchasing and logistics
Whether it is for road, river or air transport, Luxembourg continues to make progress in the field of logistics. It 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.
- Purchasing field: project buyer between 36 and 80,000 euros per year, purchasing manager 52 to 95,000 euros and purchasing director from 82 to 140,000 euros per year.
- Supply chain, logistics and transport: 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, even 130,000 euros in industry.
Due to its central location in the heart of Europe and its economic situation, Luxembourg attracts companies. Today, new law firms are appearing on the market, looking for legal profiles capable of managing international relations and links with the Commission de Surveillance du Secteur Financier.
- Law firms: remuneration from 35 to 85.000 euros for a lawyer, senior partner up to 110.000 euros, partner from 120 to 160.000 euros.
- Fiduciary firms: remuneration of 40 to 80,000 euros for a secretary, 110,000 euros for a tax manager and 150,000 for a head of tax.
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