Pay in Europe 2007: Pay gap between Europe's richest and
poorest countries has fallen significantly over the last six years
By Finfacts Team
Mar 27, 2007
The pay gap between Europe's richest and poorest countries has
fallen significantly over the last six years.
According to the Federation of European Employer’s (FedEE)
latest Pay in Europe
report, the gross median hourly earnings of employees in Denmark were 65 times
(65x) higher than in Moldova on February 1st 2007. This compares with a pay gap
of 70x in 2006 and 91x in 2001.
Since 2001, all countries in the bottom half of the FedEE
league table, except Poland and Portugal, have been able to narrow the gap with
Denmark.
Higher up in the league table, however, there have been falls
in relative earnings in Austria, Belgium, France, Germany, Luxembourg, Spain and
the UK. Norway has now taken the number two spot from Luxembourg, with relative
earnings climbing from 71% of Denmark's in 2001 to 90% in 2007.
Rewards for Climbing the Jobs Ladder
The report also reveals differences in pay between those in senior management
positions and those in unskilled service sector positions within individual
countries. This differential varies from 12.9x in Moldova and 11x in Latvia to
just 3.9x in Norway and 4.1x in Malta and 4.4 in Ireland.
In the category of a Skilled Manual Workman, working in a large or
foreign-owned firm, the following are comparative hourly rates in euro: Ireland
€16.04; Sweden €17.34; Poland €3.43 and Moldovia €0.45 - 45 cent!
The Pay in Europe 2007 report provides hourly wage and salary
data for 32 standard job positions in 48 European countries and territories at
February 1st 2007. It is available free of charge to members of the Federation
of European Employers (FedEE). Each table contains 32
standard job positions
within two categories of company size or type. Hourly pay is presented in the
form of a midpoint and spread to reflect the range for each job. The average is
not used as it would be distorted by high earners.
The
Federation of European Employers
(FedEE) is the leading organisation for multinational employers
operating across Europe. It was founded in 1989 with financial assistance from
the European Commission, and operates today on an independent basis with
corporate members located throughout the world.
Source:
http://www.finfacts.com/irelandbusinessnews/publish/article_10009569.shtml
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