High-Tech Drives Israeli Salaries to Highest Level Ever

YERUSHALAYIM -
The Azrieli buildings, as seen over the Ayalon Highway and river at night in Tel Aviv. (Esther Rubyan/Flash90)

A sharp rise in salaries in the high-tech field was a major factor in an overall rise in monthly salaries in Israel, analysts told Globes, after the Central Bureau of Statistics announced that the average Israeli salary was NIS 10,867 in March – a 6 percent increase over the average of NIS 10,255 in February, and the highest average salary ever.With that, the CBS said, two-thirds of Israelis earned below the average.

Overall in the first quarter of 2018, salaries were 5.2 percent higher than they were at the same time a year earlier. During the fourth quarter of 2017, salaries were 3.9 percent higher than they were in the fourth quarter of 2016.

Breaking down the increases by industry, the biggest increase in salaries were in the information and telecommunications industries – which include most high-tech companies. There, salaries rose in March 12.6 percent over their levels in February. Also posting significant increases were salaries in the real estate industry, which were up 12 percent in March over a month earlier.

Not faring as well were workers in local public management, and in security. Those workers lost an average 4.6 percent in salary in the first quarter of 2018 over the previous quarter. In the period between October and December of 2017, salaries in those fields were 6.8 percent lower on an annualized basis over the same period in 2016.