Whoever wants to earn a lot of money no longer has to leave the country. A top management position should do it, as the Romanian managers make more money than their colleagues in the neighbouring countries: an average of 65,000 dollars per year ($5,400 monthly), more than in the Czech Republic, Hungary or Slovakia. The Polish managers are the only ones ahead of us, with an average income of 90,000 dollars annually ($7,500 monthly).
These are the results of a survey conducted by Hay Group Management Consultant, through its Hungary-based office. "The survey canvassed 38 companies in Romania, operating in various fields. Only 8% of these companies are all-Romanian, with most of them (60%) coming from the European Union and the United States (24%)," said Tamas Hettinger, manager of the Polling Department of Hay Group Hungary. In other words, the multinationals can afford such well-paid bosses.
According to the quoted survey, the gross annual salary amounts to 65,000 dollars in Romania for the top management positions, while revolving around $47,000 in the Czech Republic and $55,000 in Hungary.
"The poll shows that positions that come with big responsibilities also pay salaries well over the market average, while the workers and college graduates are underpaid. The Romanian salary market still lacks a certain structure, which is specific to transition economies," Hettinger added. While the salary gaps between the extremes (top managers and workers) are narrowing in Central Europe, things are different in Romania, at least for now, Hettinger stated.
Still, middle managers earn salaries comparable to the benefits offered in the neighbouring countries. In Romania, their annual gross earnings revolve around $18,000 ($1,500 monthly), similar to the salaries of Czech middle managers - $15,000 annually ($1,200 monthly) and Hungarian managers - $19,000 annually ($1,600 monthly). The Slovak middle managers earn less, with annual income of 12,000 dollars.
However, some analysts are sceptical when it comes to these surprising figures.
"I will not say that such a salary level is unreachable, but I will not generalise it, either. There can be certain situations, in certain fields or sectors, where this is indeed true. But, on the whole, according to the surveys we have conducted in the area, top managers earn more in Hungary and the Czech Republic than they do in Romania," said Radu Manolescu, senior consultant with Target Romania - International Executive Search. Moreover, he added, everybody thinks about the net wages in Romania and nobody considers the gross income. "No employee cares about the taxes paid by the company, they only care about what they actually get," Manolescu added.
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