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If, at the usual level, the employees of multinationals’ local branches receive a salary almost half compared to the one in the Czech Republic (56%), at the management level differences between Romania and some other Central and Eastern European countries are insignificant, quoting PayWell study data.
As such, the Romanian managers income accounts for 91% of the Czech managers.
As such, the Romanian managers income accounts for 91% of the Czech managers.
Between Romanian and Hungarian managers there is a 6% difference in wages and compared to the Slovakian ones, of 5%, under conditions in which, overall, the differences are much higher – of 35%, respectively, 25%.
In certain sectors, the managers’ income in Romania exceeds the one in the neighboring countries. For instance, the salary of a sales manager with national level responsibilities in a top company in Romania can reach 5,800 euros, higher than in Slovakia, where the salary for such a position ranges between 2,000 and 4,000 euros monthly.
In certain sectors, the managers’ income in Romania exceeds the one in the neighboring countries. For instance, the salary of a sales manager with national level responsibilities in a top company in Romania can reach 5,800 euros, higher than in Slovakia, where the salary for such a position ranges between 2,000 and 4,000 euros monthly.
Despite that, at the beginning of 2008, the employers revised upwards their estimations on salary rises, the average increase jumping from 10% to 15%, according to the consultancy company Hay Group.
Hay Group consultants explains the salary increases by the fact that 70% of the local companies say they are confronted with difficulties in hiring personnel for management positions.
Hay Group consultants explains the salary increases by the fact that 70% of the local companies say they are confronted with difficulties in hiring personnel for management positions.
In the specialists’ opinion, managers who could benefit of highest income revenues in 2008 are those in retail and auto industry, where salaries already recorded a 50% surge in the past year.
Last year, IT project managers received a salary rise of 20%, the highest on the local market. According to PayWell study, production managers also benefited of big salary increases – 18%, as well as financial managers and sales managers – 14%.
Last year, IT project managers received a salary rise of 20%, the highest on the local market. According to PayWell study, production managers also benefited of big salary increases – 18%, as well as financial managers and sales managers – 14%.
On the other hand, in 2007, salary gaps were somewhat curbed, both on the horizontal and on the vertical organizational structures. As such, at the top management level, the gap between various management categories was narrowing. For instance, in 2004, the salary of the best paid manager – as a rule the financial manager or the sales one – was approximately 53% higher than the one of the human resources manager or the marketing manager. At present, this gap is of 21%.
The difference between managers’ salary and the net average salary is narrowing as well, lately. In 2006, a Romanian manager earned 12.6 times higher salary than the average one, and according to PwC this difference narrowed to 11.4, last year.
Currently, approximately 75% of the big companies on the local market have Romanian top managers and 25% foreign ones.
Currently, approximately 75% of the big companies on the local market have Romanian top managers and 25% foreign ones.
Usually, a salary package of an expat manager is 50-100% higher than the one of a Romanian, to which relocation spending is added. IT managers, sales managers, marketing managers, development managers and human resources managers have the highest pay. The average pay of human resources managers is of 4,200 euros but, according to George Butunoiu, Executive Search specialist, there are human resources managers on the domestic market with a salary of 9,800 euros net, without some other benefits.
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