Bankers' salaries to stagnate, while bonuses could go down

Under the most optimistic scenario, salaries of bank employees will rise by 5% this year in order to partially cover the depreciation of the RON against the euro, while variable bonuses could decline, say HR specialists consulted by ZF. “Some banks will freeze salaries at some point this year, others will reduce them to avoid having to make massive personnel cuts, because the banking sector is no longer planning an aggressive expansion of business lines, as was the case in previous years,” says Daniela Necefor, managing partner of HR and executive search firm Total Business Solutions (TBS). Bank employees have traditionally been among the best paid in the economy over the last three years, according to data from the National Statistics Institute, which point to an average gross salary of 5,983 RON (1,503 euros) in the banking sector in December, almost three times higher than the average salary in the economy. A bank VP has a net monthly salary of 8,000-15,000 euros, a CFO makes 7,000 to 12,000 euros, while a retail manager who is also a VP earns up to 15,000 euros, according to head hunters and recruitment firms.