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SAO PAULO, Brazil — Executive salaries in Brazil are expected to generally rise in 2008 and Brazilian management cost is increasingly expensive, according to a survey released by Boyden, a global leader in executive search with more than 70 offices in over 40 countries.
“Demand for Brazilian executives continues to grow even as some global markets slow,” said Chris Clarke, President and CEO of Boyden World Corporation. “While the global scenario for latter 2008 is uncertain, so far Brazil overall has proven quite resilient to the current external problems, thanks to the soundness of its economic foundations and vigorous internal market.”
Other findings of the Boyden Survey reveal:
In addition, many top Brazilian executives who reside in the U.S. and Europe are expressing more interest to return to Brazil both because of the higher compensation expressed in dollars and due to the relatively robust Brazilian economy. Family security continues to be a negative for some managers, though key executives are indicating they would repatriate for the right opportunity.
“Brazil’s internal environment continues to be encouraging, with strong consumption and significant investments being planned by both from government and private sector sources,” said William Penney, Managing Director of Boyden Brazil. “On the other hand, the soaring prices for strategic commodities and the deceleration of the world economy will slow salaries in some sectors. Certain industries such as energy and mining will continue vigorous growth, motivating demand for executives and placing them in a stronger bargaining position.”
The Boyden Survey includes responses from 82 companies operating in Brazil including multinationals and local organizations. Each company response includes detailed data covering 28 executive, director and other management categories. The survey compared salary figures and other data from companies in January 2008 to similar data in January 2007.
Boyden is a global leader in the executive search industry with more than 70 offices in 40 countries. Founded in 1946, Boyden specializes in high level executive search, Interim Management and Human Capital consulting across a broad spectrum of industries. For further information, visit the firm’s website at www.boyden.com.