Wages in French firms in 2007: a steep increase
In 2007, the average monthly wage for a full-time job in firms in the private and semi-public sectors came to €2,661 gross and €1,997 net of all withholdings. Allowing for the 1.5% increase in consumer prices in 2007, the average net wage in constant euros rose 1.5% between 2006 and 2007. There was no change in the wage spread, given the relatively homogeneous pay raises ranging from 0.8% for the first decile to 1.2% for the last. However, the steepest growth in the average wage (3%) was recorded in the last decile. The “TEPA” Act concerning overtime came into effect at year-end. In Q4 2007, one-quarter of employees worked “TEPA” overtime, which represents an average of 30 hours per person. Social contributions for these workers were reduced by an average €90 over the quarter.