As it begins preparations to host the 2014 FIFA World Cup and the 2016 Olympics, Brazil – South America’s largest country and economy, is one of the first emerging markets to begin an economic recovery. With an unemployment rate of 6.1 percent, Brazil is experiencing job growth and talent shortages in many sectors.
Brazil’s strong recovery from the global financial crisis has spurred increased hiring activity and a buoyant employment market, enabling the job market to become increasingly candidate-driven. Many workers in the private sector are seeing double-digit pay raises, and last year average salaries in Brazil increased 6.5 percent.
Talent shortages persist in many of the growing industry sectors in Brazil. Recruiting professionals report infrastructure, oil, gas, consumer products, technology, financial services, and capital markets are the most in need of talent. Hiring in Brazil has been active across all sectors, with the heaviest volumes in FCMG (Fast Moving Consumer Goods), manufacturing, agribusiness and heavy construction.
Especially scarce in Brazil are engineers with technical backgrounds, experience with big oil finds, and knowledge of infrastructure, but Brazil turns out just 35,000 engineers a year, compared with India’s 250,000 and China’s 400,000 engineers. “One problem Brazil is facing is that their companies and universities have not created sufficiently qualified people to satisfy the new demand,” explains Ms. Thompson. “Multinational organizations looking to hire in Brazil are seeking successful candidates who are flexible, skilled in communications between Brazil and headquarters, adaptable and multilingual. Although many companies invest in homegrown talent, there is also room for skilled foreign-born executives to work in Brazil.”
The talent shortages in Brazil have resulted in high salaries and large executive bonuses. Chief executives and company directors earn more in São Paulo, Brazil’s business capital, than in New York, London, Singapore or Hong Kong. For example, a CFO with 12 years’ experience or more can earn $400,000 to $530,00 USD in São Paulo, while a CFO with the same experience would earn approximately $125,000 USD in New York.
The 10 Jobs Most in Demand in Brazil
2. Skilled trades
3. Production operators
4. Secretaries, PAs, administrative assistants and office support staff
8. Accounting and finance staff
9. IT staff
10. Sales representatives