Recruiting Young Professionals in Crisis Economies: The Case of Spain

In the recently released report on the experiences of economists in Spain, respondents offered interesting insight into the current state of affairs in the crisis-ridden country. With the participation of 65 economists from across the country, INOMICS gathered important information regarding professional status, salary, field of specialization and work place preferences. While the majority (70%) of survey respondents were in the 25-34 year old range, nearly half (46%) reported having at least 3 years of work experience, while another 38% said they had worked for 5 years or more.

While Spain is still struggling with high unemployment, particularly amongst its younger residents, the percentage of foreign economists working there (78%) is higher than in nearly any of the other European countries that participated in the global INOMICS Job Market Report. 

When examining the data, it becomes clear that it is not high salaries that draw economists to Spain, but rather the lifestyle. The top three most important factors listed were flexible working hours, good work-life balance and a friendly working environment. These factors indicate a strong interest in job satisfaction itself rather than a sole focus on high salary.

Moreover, only 17% of respondents reported having changed their field of specialization from what they studied, which is a very low figured when compared against the global trend. The high continuity between focus of study and specialization during employment is a positive factor for those entering the Spanish job market, as it indicates research freedom and an acceptance of discipline diversity.

To get a fuller picture of the interests and experiences of economists in Spain, download the full report here.