The heads of multinationals present on the domestic market at the end of last year received bonuses of up to 35% of their annual gross base salaries, which accounted for an average of 50,000 euros each.
The annual gross salary of a multinational CEO stands at 144,000 euros, which means some managers received bonuses worth 50,000 euros, according to the data from a survey conducted by Mercer HR consultancy, which analysed 100 companies from the domestic market, mostly multinationals.
The weight of bonuses in salary packages depends on the positions held within a company.
The maximum annual bonus of a middle manager accounts for 25% of the annual salary, whilst a sales specialist receives a maximum annual bonus of 20%.
Therefore, a middle manager, whose average annual gross salary stands at 45,500 euros, received a maximum bonus of 11,000 euros in 2007.
Employees at multinationals that operate on the Romanian market last year received maximum bonuses of between 14% and 16% of their annual gross salaries.
"Companies grant target bonuses for meeting yearly business targets. If these targets are substantially exceeded, organisations often set a bonus cap, which, domestically, is 35% of the annual base salary in the case of a general manager," says Oana Botolan, country manager at Consulteam, Mercer's representative domestically.
Target bonuses account for 25% of the base salary in the case of leading managers, which means that heads of organisations received 36,000 euros each in 2007 after they met specified business targets, whilst bonuses awarded for exceeded targets and outstanding business performances amounted to 50,000 euros.
Almost 7,000 euros entered the account of a Romanian middle manager last year in the form of a bonus for meeting a specified target, the equivalent of 15% of the annual base salary. Specialists received target bonuses of 10% and employees were granted bonuses of between 8% and 10% of the annual gross salary.
With maximum annual bonuses of 35% of the base salary, Romanian general managers rank in the second tier of the top 19 countries analysed in the Mercer survey, ahead of countries such as Poland and Finland. The most generous employers are British and Swiss ones.
"In Romania, the weight of bonuses in salary packages is not as high as in other countries in western Europe, because fixed salaries remain the prime focus of companies to a large extent," explains Botolan.
Romania ranks tenth among the top European countries in terms of top managers' purchasing power, above countries such as the Netherlands, Poland, Sweden and Denmark, the Mercer survey also reveals.
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