Reports Store
Purchase IPC research reports for immediate self-service access. Salary survey and benchmarking studies drawn from our regional data, listed by sector and year. View a description before you buy; after checkout you receive a secure download link by email.
2026
2026 BANKING SECTOR SALARY AND BENEFITS SURVEY Q1
The 2026 IPC Salary Survey for the Banking Sector in Zimbabwe benchmarks compensation across all 15 IPC Levels using data drawn from seven anonymised participating organisations, covering 2,995 individual incumbent records. The survey was conducted in the first quarter of 2026. Six of the seven participants also participated in the 2025 survey, enabling a consistent year-on-year salary increase measurement of +5.0% for the common sample. The participants encompass commercial banks and a specialist financial institution whose combined footprint spans retail banking, corporate banking, treasury, digital banking, and building society operations.
2026 FINANCIAL SERVICES SECTOR SALARY SURVEY REPORT Q1
The 2026 Financial Services Sector Salary Survey consolidates compensation data from 32 participating organizations across Zimbabwe's Banking, Insurance, and Asset Management sub-sectors. The survey encompasses 4,084 salary records benchmarked in the first quarter of 2026, providing a statistically robust reference for remuneration committees, boards, and HR practitioners operating within the financial services industry.
2026 INSURANCE SECTOR SALARY SURVEY REPORT Q1
The 2026 IPC Salary Survey for the Insurance Sector in Zimbabwe benchmarks compensation across all 15 IPC Levels using data drawn from 19 participating organizations, covering 2,064 individual incumbent records. The survey was conducted in the first quarter of 2026 and draws on data from organizations across four regulated segments: Life Assurance, Short-term Insurance, Health/Medical Insurance, and Reinsurance. The survey provides statistically robust benchmarks for remuneration committees, HR leadership, and boards making compensation decisions in an environment of continued macroeconomic complexity and regulatory transformation.
2026 MANUFACTURING SECTOR SALARY AND BENEFITS SURVEY Q1
The 2026 IPC Manufacturing Sector Salary Survey benchmarks remuneration across ten participating organisations spanning beverages, food and agro-processing, packaging, tobacco, chemicals and edible oils. Together they cover the country’s principal manufacturing footprints, Harare, Bulawayo, the Midlands estates and the Eastern Highlands, and a wide range of scale, from sub-US$100 million national operators to integrated regional businesses generating revenues above US$1 billion. The analysis draws on a consolidated dataset of 2,642 incumbent records.
2026 MINING SECTOR SALARY SURVEY REPORT
The 2026 IPC Salary Survey for the Mining Sector in Zimbabwe benchmarks compensation across all 15 IPC Levels using data from six participating mining houses and mining-services companies, covering more than 2,900 incumbent records. The survey was conducted in the first quarter of 2026 and spans gold, ferrochrome, diamond and coal producers together with mining-equipment and services firms. It provides benchmarks for remuneration committees, boards and executive management in a sector operating under acute cost, power and talent-retention pressures.
2026 NATIONAL SALARY SURVEY REPORT
The 2026 IPC National Salary Survey consolidates remuneration data from 67 participating organisations across eight sectors of Zimbabwe's formal economy: Insurance, Banking, Manufacturing, Quasi-Government, Tourism and Hospitality, Telecommunications, Asset Management, and Mining. The survey was conducted in the first quarter of 2026 and benchmarks compensation across all 15 IPC Levels.
2026 NGO SECTOR SALARY AND BENEFITS SURVEY Q1
The 2026 IPC Salary Survey for the Non-Governmental Organisation (NGO) Sector in Zimbabwe benchmarks compensation across the IPC Level framework using data from 24 anonymised participating organisations (13 international and 11 local NGOs) and 2,933 incumbent records. The survey was conducted in the first quarter of 2026; the average salary increase across the sector was 4.0%. Participants span HIV and health implementing partners, humanitarian and relief agencies, child-protection, governance and human-rights bodies, and livelihoods organisations.
2026 QUASI-GOVERNMENT SECTOR SALARY SURVEY REPORT
The 2026 IPC Salary Survey for the Quasi-Government Sector in Zimbabwe benchmarks compensation across all 15 IPC Levels using data drawn from 8 participating state-owned enterprises and statutory bodies, covering more than 2,500 individual incumbent records. The survey was conducted in the first quarter of 2026 and spans the telecommunications and ICT, energy, revenue and regulatory, media, aviation, and fuel sub-sectors. It provides benchmarks for remuneration committees, boards, line ministries and the shareholder Ministry.
Banking Sector Salary Survey Report Q3 2026
The 2026 IPC Salary Survey for the Banking Sector in Zimbabwe benchmarks compensation across all 15 IPC Levels using data from seven anonymised participating organisations, covering 2,995 incumbent records. The data were collected in the first quarter of 2026 and reconfirmed, unchanged, for this Third Quarter 2026 edition. Six of the seven participants also took part in 2025, giving a like-for-like salary increase of 5.0%. Participants span commercial banks and a specialist financial institution.
Financial Services Salary Survey Report Q3 2026
The 2026 Financial Services Sector Salary Survey consolidates compensation data from 32 participating organisations across Zimbabwe's Banking, Insurance and Asset Management sub-sectors. It covers 4,084 salary records across 15 IPC Levels, benchmarked in the first quarter of 2026 and reconfirmed for this Third Quarter 2026 edition. The sector-wide year-on-year pay increase averaged 7.8%. The report benchmarks pay by sub-sector, pay mix, cost-of-living adequacy, and allowances and benefits.
Insurance Sector Salary Survey Report Q3 2026
The 2026 IPC Salary Survey for the Insurance Sector in Zimbabwe benchmarks compensation across all 15 IPC Levels using data from 19 participating organisations, covering 2,064 incumbent records. The survey was conducted in the first quarter of 2026 and reconfirmed for this Third Quarter 2026 edition, covering life, short-term, health and reinsurance organisations. Across the 19 consistent participants, salaries rose 8.5% year on year, against a 17.2% rise in the cost of living between January 2025 and April 2026.
Manufacturing Salary Survey Q3 2026
The 2026 IPC Manufacturing Sector Salary and Benefits Survey benchmarks remuneration across ten participating organisations spanning beverages, food and agro-processing, packaging, tobacco, chemicals and edible oils, drawing on 2,642 incumbent records across 15 IPC Levels. Data were obtained in the first quarter of 2026 and reconfirmed with participants for this Third Quarter 2026 edition. The report analyses Basic Salary, Total Direct Cash and Total Cost of Employment by IPC Level and job title, together with allowances and benefits.
Mining Sector Salary Survey Report Q3 2026
The 2026 IPC Salary Survey for the Mining Sector in Zimbabwe benchmarks compensation across all 15 IPC Levels using data from six participating mining houses and mining-services companies, covering more than 2,900 incumbent records. The survey was run in Q1 2026 and reconfirmed in Q3 2026, and spans gold, ferrochrome, diamond and coal producers together with mining-equipment and services firms. Across consistent participants, total cost of employment rose by an average of 12.5%, short of the 17.2% rise in the cost of living.
2025
2025 Agro-processing Sector Salary Survey Report
Industrial Psychology Consultants is pleased to present the fourth Agro-Processing Sector Salary Survey for 2025, with data current as of the fourth quarter of 2025. Eight organisations covering over 2,000 employees participated, in farming and processing of sugarcane, milk, sugar, beverages, chicken, eggs, tobacco and other foods. Salaries rose by an average of 3% on 2024, and results are presented by IPC level, by job title and for allowances and benefits.
2025 Banking Sector Salary Survey Report
The 2025 Banking Sector Salary Survey Report presents remuneration data from eleven banking organisations in Zimbabwe, covering over 2,500 employees, with data collected in the fourth quarter of 2025. It benchmarks pay by IPC grade and by job title, and analyses allowances and benefits such as housing, transport, medical aid and school fees. The report also reviews USD-based pay practices, 2024–2025 salary increases and the cost of living.
2025 Bonus Scheme Survey
The 2025 Bonus Scheme Survey reviews bonus and incentive practices at twelve organisations in Zimbabwe's banking, insurance and manufacturing sectors. It covers short-term incentives (guaranteed 13th cheques, performance-based bonuses and profit sharing), long-term share-based plans, retention and special bonuses, and the governance of incentive schemes. Results are analysed by sector and headcount and presented in US dollars.
2025 Executive Compensation & Market Trends Report
The Q2 2025 Executive Compensation & Market Trends Report by Industrial Psychology Consultants analyses executive pay in Zimbabwe. It compares C-suite and director-level compensation across Manufacturing, Agro-processing, Mining, Financial Services, Banking, Insurance and Quasi-Government against the market median, and reviews pay composition, key allowances and benefits, the CEO-to-worker pay ratio and ESG governance considerations, with strategic recommendations for compensation committees.
2025 Financial Services Sector Salary Survey Report
The 2025 Financial Services Sector Salary Survey Report presents remuneration data collected in the fourth quarter of 2025 from 31 organisations in Zimbabwe's financial services sector, covering over 4,500 employees across commercial banks, microfinance institutions, insurers, pension funds and asset managers. It benchmarks pay by IPC grade and job title, analyses allowances and benefits, and gives separate banking and insurance results by grade and job title.
2025 Insurance Sector Salary Survey Report
The 2025 Insurance Sector Salary Survey Report presents remuneration data from twenty insurance organisations in Zimbabwe, covering over 2,000 employees, as at the fourth quarter of 2025. It benchmarks salaries by IPC level and by job title and analyses allowances and benefits such as housing, transport, school fees, medical aid and pension. It also reviews USD pay practices and the economic factors affecting compensation in the sector.
2025 Manufacturing Sector Salary Survey Report
The 2025 Manufacturing Sector Salary Survey Report presents remuneration data collected in the fourth quarter of 2025 from ten organisations in Zimbabwe's manufacturing sector, covering over 2,900 employees in sub-sectors including food and beverage processing, chemicals and industrial goods. It benchmarks pay by IPC grade and job title and analyses allowances and benefits, including motor vehicle benefits. It also reviews dual-currency pay practices and the cost of living.
2025 Mining Sector Salary Survey Report
The 2025 Mining Sector Salary Survey Report presents remuneration data as at the fourth quarter of 2025 from eight organisations in Zimbabwe's mining sector, together employing over 2,900 workers. Participants are mainly gold miners, with coal, diamond and chrome producers and mining equipment and support service providers. The report benchmarks pay by IPC level and job title, analyses allowances and benefits, and reviews USD pay practices and the cost of living.
2025 National Non-Executive Directors Fees and Practices Survey
The 2025 National Non-Executive Directors Fees and Practices Survey analyses non-executive director fees across key sectors of Zimbabwe's economy, using data from company secretaries and HR executives responsible for board governance. It reports sector medians for board sitting fees, retainers, chairperson premiums and committee fees, and estimates the annual governance cost per director. A board demographics analysis of 148 director positions covers gender, race, age, skills and director status.
2025 Reinsurance Sector Salary Survey Report
The 2025 Reinsurance Sector Salary Survey Report is IPC's first salary survey of Zimbabwe's reinsurance sector, with data collected in the fourth quarter of 2025 from seven licensed reinsurance companies employing over 150 professionals. It benchmarks pay by grade and job title, and analyses the mix of basic salary, direct cash allowances and indirect benefits at each grade. It also covers benefits and allowances and the economic context.
2024
2024 Agro-processing Sector Salary Survey Report
This report presents the results of IPC's Agro-Processing Sector Salary Survey for the third quarter of 2024 (September 2024). Data was gathered from seven organisations covering over 4,600 employees, involved in farming and processing of sugarcane, milk, sugar, beverages, chicken, eggs, tobacco and other foods. Results benchmark basic salary, total direct cash and total cost of employment by IPC level and by job title, together with allowances and benefits by grade.
2024 Banking Sector Salary Survey Report
Industrial Psychology Consultants is pleased to present the Banking Sector Salary Survey for 2024. The report provides valuable insights into the remuneration trends prevailing within the Banking sector. The data incorporated in this report reflects the most up-to-date information available as of September 2024.
2024 Financial Services Sector Salary Survey Report
Industrial Psychology Consultants is pleased to present the fourth Financial Services Sector Salary Survey for 2024. The report provides valuable insights into the remuneration trends prevailing within the Financial Services sector. The data incorporated in this report reflects the most up-to-date information available as of November 2024.
2024 Insurance Sector Salary Survey Report
Industrial Psychology Consultants is pleased to present the fourth Insurance Sector Salary Survey for 2024. The report provides valuable insights into the remuneration trends prevailing within the Insurance sector. The data incorporated in this report reflects the most up-to-date information available as of Q4 2024.
2024 Manufacturing Sector Salary Survey Report
This is the fourth Manufacturing Sector Salary Survey for 2024, with data current as of November 2024. Twelve organisations participated, in chemicals, paints, soaps, cooking oils, mealie-meal, liquid food, beverages, building equipment and related products. The report benchmarks basic salary, total direct cash and total cost of employment by IPC level and by job title, along with allowances and benefits by grade.
2024 Mining Sector Salary Survey Report
This is IPC's third-quarter Mining Sector Salary Survey for 2024, with data current as of September 2024. It covers six organisations representing over 2,300 employees, with an average organisational size of 389 employees. The report benchmarks basic salary, total direct cash and total cost of employment by IPC level and by job title, together with allowances and benefits by grade, including USD payment practices.
2024 NGO Sector Salary Survey Report
We are pleased to present the NGO Sector Salary Survey for 2024, with data current as of September 2024. Data was gathered from thirty-two NGOs covering over 3,600 individuals, with an average organisational size of 118 employees. The report presents salary results by grade and by job title for the NGO sector overall and separately for international and local NGOs, together with allowances and benefits by grade.
2024 National Non-Executive Directors Fees and Practices Survey
Industrial Psychology Consultants carried out a Non-Executive Director fees and practices survey for 2024 to provide market information on fees received by Non-Executive Directors and on prevailing board practices. Data was obtained from seventeen organisations (fifteen private sector, two state-owned), 65% of them listed on the Zimbabwe Stock Exchange, and fees were collected in May 2024. All figures are in USD.
2024 National Sector Salary Survey Report
Industrial Psychology Consultants is pleased to present the National Salary Survey for 2024, showing how companies in Zimbabwe compensate their employees, with data current as of September 2024. It covers 49 organisations and over 13,000 employees across government, manufacturing, mining, agro-processing, banking, insurance, financial services and FMCG. Results are presented by IPC level and job title, with allowances and benefits and sector-by-sector breakdowns.
2023
2023 Agro-Processing Sector Report
This survey report covers the Agro-processing Sector in Zimbabwe for 2023, with data current as of August 2023. Data was collected from seven organisations in chemical, tobacco, fertiliser and seed agro-processing, with an average headcount of 205 employees. It benchmarks basic salary, total direct cash and total cost of employment by grade and job title, alongside benefits and allowances.
2023 Banking Sector Report
This report is the first edition of the Banking Sector Salary Survey for 2023. The primary purpose is to show remuneration trends in the Banking Sector. The data used in this report is current as of July 2023.
2023 FMCG Sector Report
This is the first edition of the Fast-Moving Consumer Goods (FMCG) Sector Salary Survey for 2023. The main purpose is to show how organisations in the FMCG sector compensate their employees. The data used in this report is current as of August 2023.
2023 Financial Services Sector Report
This is the second edition of the Financial Services Sector Salary Survey for 2023. The main purpose is to show how organisations in the Financial Services sector compensate their employees. Data was collected from 22 organisations, eleven in Banking and eleven in Insurance, and is current as of June 2023.
2023 Insurance Sector Report
This is the second edition of the Insurance Sector Salary Survey for 2023. The main purpose is to show how organisations in the Insurance sector compensate their employees. The data used in this report is current as of July 2023.
2023 Manufacturing Sector Report
This survey report covers the Manufacturing Sector in Zimbabwe for 2023, with data current as of August 2023. Data was collected from nine organisations in chemical, liquid food, beverages, building equipment, tobacco, fertiliser, food and meat manufacturing, with an average headcount of 537 employees. It benchmarks basic salary, total direct cash and total cost of employment by grade and job title, alongside benefits and allowances.
2023 NGO Sector Report
This survey report covers the NGO Sector for the first quarter of 2023. The data used in this report is current as of March 2023.
2023 National Non-Executive Directors Fees and Practices Survey
Industrial Psychology Consultants' 2023 Non-Executive Directors Fees and Practices Survey provides market information on fees paid to non-executive directors in Zimbabwe. Data was obtained from 15 organisations and the fees were collected in May 2023. It covers board composition, board chairperson practices, and retainer fees, board and committee sitting fees and benefits, with separate results for listed and non-listed companies.
2023 National Salary Survey USD Report
This report is the first edition of the National Salary Survey for 2023. The report's primary purpose is to show how companies in Zimbabwe compensate their employees. The data used in this report is current as of July 2023.
2023 Quasi-Government Sector Report
This survey report covers the Quasi-government Sector for the third quarter of 2023, with data current as of August 2023. Data was collected from ten state-owned enterprises in the telecommunications, energy, tourism, education, transport, finance and heritage management sectors, with an average headcount of 204 employees. Salaries paid in USD and ZWL were converted to a common currency, and results are presented by grade, by job title and for benefits and allowances.
2022
2022 Agro-Processing Sector Report
This is the second edition of the Agro-processing Sector Salary Survey for 2022. The main purpose is to show how organisations in the Agro-processing sector compensate their employees. The data used in this report is current as of June 2022.
2022 Banking Sector Report
This is the Banking Sector Salary Survey for 2022. The main purpose is to show how organisations in the Banking Sector compensate their employees. The data used in this report is current as of June 2022.
2022 Executive Directors Report
This is the first edition of the Executive Directors Salary Survey for 2022 by Industrial Psychology Consultants. It shows how companies compensate their executives, with basic salary, total direct cash and total monthly earnings for IPC Levels 1 and 2 and for CEO, Finance, Operations, Marketing and Human Resources Director roles, broken down by sector. The data used in this report is current as of July 2022.
2022 Financial Services Sector Report
This is the first edition of the Financial Services Sector Salary Survey for 2022, covering the Banking, Insurance and Reinsurance sectors. It shows how organisations in the Financial Services sector compensate their employees, with results for the sector as a whole and for each sub-sector. Data was obtained from 24 organisations and is current as of June 2022.
2022 Insurance Sector Report
This is the second edition of the Insurance Sector Salary Survey for 2022. The main purpose is to show how organisations in the Insurance sector compensate their employees. The data used in this report is current as of July 2022.
2022 Manufacturing Sector Report
This is the second edition of the Manufacturing Sector Salary Survey for 2022. The main purpose is to show how organisations in the Manufacturing sector compensate their employees. The data used in this report is current as of June 2022.
2022 Mining Sector Report
This is the first edition of the Mining Sector Salary Survey for 2022. The report's main purpose is to show how organisations in the Mining sector are compensating their employees. The data used in this report is current as of June 2022.
NGO SALARY SURVEY REPORT SOUTHERN AFRICAN REGION
This is the first edition of the IPC Non-Governmental Organisation (NGO) Salary Survey for Southern Africa, showing how NGOs in the region compensate their employees. It benchmarks basic salary, total direct cash and total cost of employment by IPC level and by job title, together with allowances and benefits, and presents results for Zimbabwe, Zambia, Malawi and Mozambique as well as at regional level.