The average salary of a manager is 3,240 euros, 9.2 times higher than the net average pay across the economy.
The difference in salaries between the management and the national average has gone down this year compared with 2007, when managers earned 9.6 times more than the net average, according to the PayWell-Salary and Benefits 2008 survey conducted by audit and consultancy company PricewaterhouseCoopers (PwC).
"This does not mean that the absolute salary of a manager has gone down this year compared with last year, because we have to take into account the net wages have increase throughout the entire country in 2008, compared with last year," explained Ruxandra Stoian, HR Services manager of PwC. To measure the gap between the salaries of managers and the average wages, PwC's analysis took into account the net average pay as reported by National Statistics Institute (INS), a figure that stood at 1,282 RON (352 euros) in April. With a manager's salary 9.2 times higher than the net average, the heads of the companies on the local market earn 3,240 euros per month.
Average management salaries went up by approximately 10% compared with last year, from 2,960 euros to 3,240 euros in April. Whereas the net average pay of a manager exceeds 3,000 euros, an employee who completed secondary education earns an average of 356 euros. "Whereas entry level salaries were higher compared with the gross average pay in 2007, this year they are lower. For employees who completed secondary education, the salary at multinationals stands at only 74% of the national level, and for those who completed higher education, the salaries are comparable," Stoian added.
When breaking down salaries by sectors, banking employees are the highest-paid, with almost double salaries (107%) compared with the gross average pay announced by INS for April, 1,751 RON (481