Tuesday 27 September 2022

Wages In Costa Rica Rose 1.9%, Study Reveals

The increases are mainly made in service and manufacturing companies in Zona Franca.

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27 September 2022 - At The Banks - BCCR

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The Sistema Empresarial de Información Salarial (Salary Information Business System) survey reveals salaries in Costa Rica increased, on average, by 1.9% in the last 6 months.

The increases are mainly made in service and manufacturing companies in Zona Franca.

During the first semester of 2017, salaries grew on average 1.6%

The report was prepared by PricewaterhouseCoopers Costa Rica (PwC) taking into account the opinion of 500 national and multinational companies in the country. from August to October.

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According to the report, the increases are mainly made in service and manufacturing companies in Zona Franca (Free Trade Zone).

“Due to the great dynamism that the country has had in terms of attracting foreign investment since 2000 and the corresponding demand for talent, it has caused the breakdown of some remuneration trends observed a few years ago,” said Victoria Scott, Managing Director Compensation & Benefits Consultancy of PwC Costa Rica.

Previously, according to Scott, large companies, such as multinationals, were those that offered the best levels of remuneration and benefit schemes but today medium and small companies also do so.

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