Average remuneration packages increase by 3.1% over past twelve months

This growth was higher than the 2.6% increase registered in 2010 but lower than the 3.8% increase registered in 2009. This, and other very interesting information emerges from Misco Consulting’s recently published annual MISCO Salaries and Benefits Report 2011-2012.

Compiled with the aim of providing senior management with information about the different remuneration packages paid to managerial, executive and other salaried staff across the Maltese Islands, the MISCO Salaries & Benefits Report focuses on the salaries and benefits offered in various private, foreign-owned and government controlled, services and manufacturing companies. This segmentation of information gives the end-user a better idea of remuneration offered locally, thus permitting a more accurate positioning of the organisation within the market.

“The report is highly detailed, giving a clear picture on how specific positions are remunerated and the pattern by which these remuneration packages have developed compared to previous years,” explained Lawrence Zammit from Misco Consulting.

“For example, positions such as those involved in human resources management and financial management experienced the highest increase in median remuneration package, 5.7% and 5.6% respectively as did other managerial positions such as Quality Assurance Managers (4.8%) and Marketing Managers (4.3%).”

There are fifty-two position titles covered by this study which vary from the top tier positions such as General Managers, Operations Managers, Project Managers to Supervisors, Analysts, Sales Representatives, Engineers, Technicians, Secretaries, Operators, Tradespersons, Messengers and Cleaners.

“This year, the relevance of this report is further enhanced with the inclusion of a number of new positions such as Business Development Managers, Engineering Managers, Accounts Executives, Credit Control Assistants and IT Engineers,” Zammit added.