Top executives of multinationals earn 100,000 euros yearly

The general managers employed by the multinational companies operating in Romania receive, on average, a total annual salary worth 99,300 euros in gross figures.

This is almost 2.5 times less than the Western Europe average, according to a survey conducted by Neumann International, a human resources consultancy.

The research was carried out on the basis of information that referred to the salaries of a number of 1,425 employees of 48 multinational companies present in Romania.

The survey shows the average total annual salary for top executives is made up of a gross monthly salary that revolves around the value of 6,300 euros (4,300 euros net), to which a yearly bonus of 23,600 euros is added.

Only executives in countries such as Bosnia or Albania receive lower salaries than in Romania.

The top earners are the executives in Great Britain, Switzerland and Germany, with their yearly salaries getting to several million euros.

“Salaries general managers in Romania receive usually range between 50,000 and over 200,000 euros in gross sums per year,” says Conrad Pramboeck, manager of the compensation consulting unit of Neumann International.

“The highest salaries for a CEO position are paid in Austria, one million euros gross per year, in France – 1.5 million euros and Germany – 4 million euros.

“The difference is accounted for by the fact that in Austria the largest company has around 20,000 employees, while in Germany the number of employees is higher than 200,000 people.

“The bigger the company, the higher the incomes,” explained the Neumann representative.

Referring back to the domestic market, the analysts working with the consultancy consider that while last year the salaries of top managers registered, on average, an increase by 11.6 percentage points compared with 2004, the pace of growth will slow down this year.

Thus, salary raises will not go beyond 6 percentage points this year.

The survey also revealed the fact that the salary package also includes benefits, such as company cars.

Thus, the favourite models of the top executives of multinational companies operating in Romania are the BMW 5 Series and Audi A6, with the average budget for such a car amounting to 45,000 euros.

To this another 10,000-12,000 euros are added in the form of annual maintenance costs.

Neumann International, headquartered in Vienna, carries out operations in seventeen countries of Europe. angela.placinta@zf.ro