Executives expect 20% lower salaries this year

Romanian managers expect an up to 20% salary decline this year, considering that one in three executives has seen their salary increase by a non-significant amount in the last year, according to a survey conducted by recruitment company Grafton Recruitment on a sample of 820 executives on the Romanian market.
“This year, salary declines are expected for jobs in specific sectors such as real estate and constructions, logistics, transport, and consultancy. Last year salaries in the other sectors either remained the same or saw a slight increase, of between 3.5 and 5%,” says Ivana Vacokova, country manager of recruitment company Grafton Recruitment, with subsidiaries in 19 countries.
The survey, conducted between May and June this year on a sample of middle and top managers in multinationals, reveals that more than half (60%) of the respondents are happy with their current position in the company they are working for, do not have the high expectations as far as salary is concerned that they did in the past, and no longer want to change jobs. In the past year 40% of the Romanian executives canvassed said they did not benefit from a salary increase, while another 27% had their salaries cut.