Gibraltar is home to over 27,000 residents and over 18,000 registered businesses.
The competition for talent in Gibraltar is huge, yet there is no specific Salary Survey information available for businesses in Gibraltar.
Our Vision
We aim to provide a comprehensive salary benchmarking data set, that can be used by Gibraltar based businesses to assess and manage their employee’s remuneration and reward strategies.
We intend to work both directly with businesses and with local business groups to provide tangible market data to support their members and other independent businesses.
After our initial survey, we intend to produce a regularly refreshed annual Gibraltar salary survey to support the Gibraltar marketplace in the long term.
We are currently working in Gibraltar to benchmark and map their employee salaries and rewards so this survey is a natural extension of that effort.
What is Compensation Benchmarking?
Pay positioning
Compensation benchmarking services give organisations objective, reliable market data to inform salary decision making.
Salary and pay benchmarking helps determine the market value of a given role or job title. It provides employers with objective and independently sourced salary information to help their decision making on employee pay packages and executive pay in their organisation.
Through a salary survey we are able to match internal jobs and their descriptions to similar jobs and descriptions within their market to identify pay rates and conduct salary comparisons.
What does the benchmarking process involve?
Salary benchmarking is a detailed process, deploying a quantitative method to achieve reliable information for salary comparison.
It involves job analysis, the identification of salary survey data and the extraction and interpretation of that data.
What will Gibraltar businesses receive?
We anticipate after an initial period of data collation we will be able to provide the early adopters the following:
Initial Salary Benchmarking – 25th, 50th, 75th percentile
After 6 months, we will make available a refreshed salary survey with updated data, that will include:
Full Salary Benchmarking – 25th, 50th, 75th percentile
Grading by experience, sector and business size
Bonus/Commission benchmarking
If you feel that your business could be supported by a comprehensive salary benchmark process, or perhaps you're seeking advice on Grading and Career Mapping, we'd love to have a confidential chat, to let you know where we can help.
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