What was the Global Cost of Talent in 2017?
Talent are more empowered than ever before to choose where they start their professional careers and remuneration will always be a key factor in their employment considerations. Achieving optimum talent attraction requires that you provide competitive wages, however it should not require that you overpay to accomplish this. In order to remain competitive you have to match your Employer Branding and wages with the salary expectations of the country, market and industry.
Download our free report and find out more information, including the individual salary expectations in each country and salary expectations by industry.
This year’s Global Cost of Talent report is based on the feedback from 533,351 Business and STEM (science, technology, engineering and mathematics) students from 29 countries who participated in Universum’s 2017 Talent Survey. In order to assess the cost of talent in each country we asked business and STEM students what they expect to earn at their first job after graduating from university, the question being:
What salary do you expect to earn in your first job after graduation?
On the whole, our data shows that STEM talent expect higher earnings than their business counterparts. The largest difference between these two main fields of study can be found in Canada, where both Male & Female STEM students expect higher salaries.
“Over the past two years it has been well publicized that just about every industry is seeking to recruit more STEM talent. Even industries that were traditionally dominated by business talent like the banking and financial sectors are trying to compete with the IT sector for STEM talent. One of the reasons we are seeing STEM talent expect more remuneration is that they know their skills and knowledge are in demand”.
Jonas Barck, CMO Universum
Countries covered in Cost of Talent 2017
- Hong Kong
- United Kingdom
- United States
Universum’s annual Global Talent survey can help you better understand the career expectations of your business and STEM workforce no matter where you operate. Understanding this data should provide you with invaluable insights on how to attract, recruit and retain talent. However, more important than the raw numbers are the trends derived from them. If you can understand these broad global patterns in terms of what talent in your country or region wants, you can take advantage of opportunities that your competitors cannot and therefore build a stronger workforce.
Tomorrow's Thinking. Available Today.
Universum attends University Employability Conference as a panelist and organizes an Employer Branding Advisory Board meeting for clients and special guests in Madrid. Stockholm, Sweden — October 9th, 2018 – […]
WMAE | Long and short-term trends On September 19th, Universum Global released its 10th annual World’s Most Attractive Employers (WMAE) ranking and report. This year Universum surveyed over 225,000 business and engineering/IT students in the world’s […]