First jobs for graduates in Belgium are offering increasingly competitive salaries. However, significant differences exist depending on the sector, which prompts the question: how much are 'juniors' really earning in today's labour market in Belgium?
This discussion is centred around a recent report from L'echo, which provides insights into the job market for young professionals in Belgium.
According to Thomas Vieuxjean, a managing consultant at Walters People, "For young people, it's clearly a race for the best salary." This trend indicates a shift from past years where factors such as work-life balance, mobility, and training opportunities held more importance.
A shifting job market: salary first
Recruiters are reportedly facing a new trend where candidates break contracts for marginally higher pay offers, notes Vieuxjean.
This volatile market behaviour is driven mainly by young professionals. Vieuxjean observes that candidates with a master's degree, who began with a salary between €2,000 and €2,500 gross in 2018, can now expect between €2,800 and €3,200 gross. This upward shift has even caused disruptions in the hiring market.
"Employers don't necessarily have the leeway to outbid... it's not 'fair' compared to their existing employees," explains Vieuxjean, emphasizing the imbalance this creates in organisations.
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Naturally, rapid salary progression isn't universal. It's subject to factors like degree level and sector of activity.
"Entry-level salary depends on the degree, the field, and the sectors. Engineering and economics degrees, for example, are the highest-paying. You will also earn a few percent more in Brussels or Antwerp than in Charleroi, for example," adds Joël Poilvache, a specialist consultant.
When considering a large international company versus an SME, the trade-off is between faster learning and evolution at SMEs, and higher salaries and benefits at larger corporations.
Breaking down salaries across sectors
The following figures offer an overview of the starting salaries for juniors in various sectors in Belgium:
Finance:
- Junior external/internal auditor: ~€2,500 + social benefits & often a company car
- Commercial/financial analyst: €2,500 - €3,300
Banking and Insurance:
- Back-office employee: €2,400 - €3,000
- Middle-office employee: €2,500 - €3,100
- Insurance specialist: €2,300 - €2,800
- Financial advisor: €2,500 - €3,100
Accounting:
- Junior accountant/accounting assistant: ~€2,100, €2,400 - €2,500 in large international organizations
- GL accountant/credit collector: €2,150 - €2,700
Business Support:
- Administration roles: €2,000 - €2,500
- Sales roles: €2,100 - €3,000
- Marketing roles: €2,000 - €2,600
- HR roles: €2,000 - €2,800
- Customer Service roles: €2,000 - €2,500
- Logistics & Supply Chain roles: €2,200 - €3,200
