Local managers make global top 10 in terms of purchasing power

Salary increases for management positions, the stagnation of real estate prices and the economic recession on international markets have propelled Romania to eighth position worldwide in terms of the managers’ purchasing power, according to a survey conducted by management consulting company Hay Group. Romania has climbed 14 positions from last year, leaving behind countries like Poland (ranked 14), Switzerland (20), the US (41) and the UK (47). “Romania has already become an El Dorado for managers, especially for those from Asia, where incomes available on the market are considerably lower,” says Harry Meintassis, general manager of Hay Group Romania. The actual purchasing power was calculated considering the average management salary, from which salary taxes have been removed, and elements have been applied, that have to do with the cost of living in each of the 51 countries analysed in the survey. Therefore, with a 5,000-euro net salary, a Romanian manager has twice and half the purchasing power of a manager Sweden, the country that ranks last in terms of management purchasing power.