Leading managers in the Capital rank in the top positions of the highest paid salaries in Romania, earning up to 50 times more than the rest of the country. There is a great divergence in salaries among the leading managers from various counties, according to data provided to ZF, by the National Fiscal Administration Agency (ANAF).
Whereas the highest paid manager in Bucharest earns almost 110,000 euros in net amount per month, his counterpart from Vrancea, Calarasi or Dolj makes 50 times less.
Headhunter George Butunoiu believes the differences can be explained by the fact that the salaries of individuals in leading management positions are directly related to the turnover and profitability of the employer. "In Romania, most large organisations headquarters are based in Bucharest, with very few major companies situated outside Bucharest. The ratio between turnover or profit and a top manager's salary is the same ratio as in the rest of the country (i.e. as in the capital)," says Butunoiu.
The employees with the highest salaries in Romania are based in Bucharest, in sectors 2 and 3 respectively. These two sectors dominate the ranking for the highest incomes, which took into account the biggest three salaries reported to the tax authorities in 2005 (the most recent data available).
The best-paid manager in Romania was earning almost 110,000 euros in net amount every month from retail in 2005. Second and third were two managers from sector 2 of Bucharest, both with salary packages of more than 83,000 euros in net amount per month, and both working in the software development sector.
A food industry manager earned over 34,000 euros net salary per month in 2005. In turn, the financial-banking sector is one of the best-paying industries. The best-paid manager in the banking system had a monthly net salary package of 28,000 euros in 2005, with another bank manager following close behind. Both of them were based in sector 3 of Bucharest.
Salary packages for bank managers in Romania usually start from 7,000-8,000 euros and reach more than 20,000 euros, as is the case with the two above-mentioned managers. Another banker, based in sector 1, reported a net monthly salary of over 17,000 euros in 2005. A hotel manager based in sector 1 posted the highest salary within this industry, a figure of more than 15,000 euros per month. The highest salary in the insurance industry, reported as such to the fiscal authorities in 2005, stood at more than 12,000 euros, and was paid to a manager in sector 1 of the capital city. The ranking of highest salaries also includes several public sector employees, such as a magistrate in sector 5 who earned in excess of 2,100 euros.
The highest management salaries outside Bucharest are those in Timis, Ilfov and Prahova counties. The best-paid managers in Timis and Ilfov reported salaries of more than 15,000 euros per month to the tax authorities. The highest salaries in Prahova exceed 14,000-15,000 euros per month. ANAF did not provide a salary breakdown by industries for the rest of the country, as only data concerning Bucharest was available.
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