Following the World’s Most Attractive Employers ranking, the survey also provides us with a look into salary expectations around the world. This provides valuable information for top employers to see where students cost the most and least to hire. Some expectations from 2013 still hold true this year, while some key changes are evident as well.
In 2013, the top three countries where students had the highest salary expectations were Switzerland, Norway, and Denmark, respectively. Swiss students were number one in the world with an expectation of $7,062 per month. This year, Switzerland still continues to take the top place with Norway and Denmark also following suit. However, the dollar amount has increased to $7,423 per month. Not surprisingly, the gender gap in salary expectations still exists from last year to this year. However, the gap has decreased from $986 to $906 in Switzerland alone.
These changes in student expectations, as well as the gender gap, may be an indication of the continued economic recovery around the world and a higher sense of optimism among students. Case in point, in 2013 the United States was ranked seventh out of 24 countries in salary expectations with an annual expectation of approximately $52,000. This year, the U.S. came in fourth out of 33 countries and the annual salary expectation increased by more than $3,000.
Last year’s report found that the countries where students expected the highest pay, they also expected the biggest gap. Countries with lower expected earnings were shown to have a lower gap between genders. Last year, the three countries with the lowest salary expectations were China, India, and Poland. This year, as the study has expanded, the bottom three countries are Vietnam, Turkey, and Ukraine.
Including more countries in the Global Cost of Talent Index shows that salary expectations vary wildly across the world. In 2013, Poland was in last place with an expectation of $963 with women expecting $133 less each month. This year, Ukraine is in last place with an expectation of $521 per month but with only a $40 difference between men and women.
The World’s Most Attractive Employers survey gives a look into so many aspects of different talent markets and industries. For example, the automotive industry is gaining popularity, while the oil, gas, and energy fields attract engineers from around the world. The study also found students are interested in international companies and careers. Top employers can recruit from any of the top universities in the world, assured of finding talent. Salary requirements, as the Global Cost of Talent Index shows, will vary depending on the region of the world where the student-turned-professional lives.
In a world where one population is aging out of the workforce and another is primed and eager to take their place, finding, recruiting, and keeping the top talent from around the world is an absolute must for top brands to stay competitive. Salary expectations continue to go up among the best and brightest, and with their propensity for international careers, students have more choices than ever before.
The salary expectations are only a small segment of the insights compiled from this year’s World’s Most Attractive Employers survey, to help you see the full picture we have compiled the data into a convenient eBook. Start your journey to building a global brand and download your free copy here.