Labor Market Salaries in Kazakhstan: What to Expect in 2024
The economy of Kazakhstan continues to grow actively. However, despite the rapid development of production and business, the country is facing a talent shortage. The mismatch between the demand for personnel and the actual number of candidates inevitably leads to changes in the level of wages. Companies need to be able to offer competitive salaries to attract qualified professionals. To achieve this, it is important to understand the dynamics of the job market, the average salary level in the country, and the material compensations candidates expect in various industries.
Current Trends in the Salary Market
In 2023, the wage level in Kazakhstan increased, and as of today, it stands at:
- Minimum wage: 85,000 tenge
- Average specialist salary: starting from 400,000 tenge
- Average manager salary: starting from 800,000 tenge
Top Most Popular and In-Demand Professions
The list of professions with the highest salaries in 2023 includes representatives of the following specialties:
- Sales Manager: starting from 500,000 tenge + bonuses
- Brand Manager: starting from 800,000 tenge + bonuses
- Logistics Specialist: starting from 500,000 tenge
Among the most in-demand professions in Kazakhstan in 2023 are:
- BI Analysts and Data Analysts: starting from 700-800,000 tenge
- Sales Manager: starting from 700-800,000 tenge
- Finance Professionals: 700-800,000 tenge
- Digital Marketer: averaging around 600,000 tenge
- Brand Manager: depending on the level, starting from 600,000 tenge
- IT Specialists and Developers: starting from 700,000 tenge.
What to Expect in 2024?
With the rise in prices for goods and services, it is logical to question whether wages will increase in Kazakhstan in 2024. It’s worth noting that, on the president’s instruction, the cabinet of ministers has already raised the minimum wage from 2024 to 85,000 tenge.
As for private companies, approximately 8,000 Kazakhstani enterprises have already announced that they will increase salaries for their employees starting in 2024. The percentage of wage increases varies from 10 to 50% across different companies.
How can companies forecast the optimal salary levels in 2024 for their industries? To retain current employees and remain competitive for new applicants, it is crucial to understand the financial compensation expectations of employees and candidates. To achieve this, companies need to conduct salary market surveys at least twice a year—towards the end of the year (November-December) and in April-May.
Smart Solutions can professionally assist you with this
What we do:
- Study candidates’ salary expectations.
- Analyze official data from companies among our clients and partners.
- Conduct anonymous market research in the required segment to determine the actual salary levels.
Why entrust the salary market review to a professional team?
- Diverse expertise: Smart Solutions staff possesses extensive expertise in key business areas and is fully oriented in the salary market, even in specialized projects.
- Leading position in the HR services market: Smart Solutions is a leader in client portfolio and service volume. Local and international companies trust us, delegating part or all of their HR responsibilities.
- Resources for quality research: We have sufficient resources to conduct a high-quality, reliable study using all necessary data sources.
As a result, you receive a detailed overview of salary levels for the required specialties in your market segment. Delegating salary market review tasks to Smart Solutions ensures you receive high-quality services from highly qualified specialists.
Smart Solutions is a leading provider of HR services and business process outsourcing in Kazakhstan, Uzbekistan, Ukraine, Kyrgyzstan.
In addition to salary market reviews, Smart Solutions offers fast recruitment and hiring services for any industry or organization in Uzbekistan, Kazakhstan, and the Caucasus countries.
With the most comprehensive resume database, we conduct recruitment for any number of workers, considering the industry or business’s specificities. Our professional recruiters apply modern methods for searching and selecting employees with any level of education, qualification, with or without experience, or with several years of expertise.
Smart Solutions guarantees the quality of its services: if an employee does not start working or is not suitable for any other reason, within the warranty period, we ensure prompt and free replacement of the specialist.
Entrust the personnel selection to the professionals of our HR service and ensure the development, increased productivity, and profitability of your company.
