Salaries – Romani Update

Salaries / Romania Update
ING & Nine O’Clock Feb 2007

The average salary advanced by 23.6 percent last year in real terms, exceeding the Oct. 1990 level. The salary in Dec. 2006 exceeded, for the first time after Dec. 1989, that in Oct 1990. The net average salary stood at 1,099 RON in last Dec. For the first time after the fall of communism, the real salary index reached the level in Oct 1990, exceeding by 16.6 percent that in Dec 2006, INS data say. The net nominal average salary advanced by 21 percent in Dec. compared to the previous month, within the context of the payment of the 13th salary and winter holiday bonuses. The gross average salary was 1,481 RON, up by 22.1 percent. The highest values of the net salary were reported in financial services (RON 3,336), and the lowest in the garment production (548 RON ). Salary raises over 30 percent were registered in fields such as transport (including activities of tour operators), public administration, education, financial services and tobacco production. Decreases as against the previous month were registered in the industry of electric equipment, crude oil processing, coal production and treatment of nuclear fuels.

ING Financial News – Oct 10 2006 
The average net monthly salary of the manager of a multinational company in Romania stands at 2,800 euros, while a Romanian who is at his or her first job is paid a salary five times lower, says a Paywell 2006 study carried out by PricewaterhouseCoopers. The study, published by Evenimentul Zilei daily, writes that a graduate from a higher school who is at his or her first job earns a gross monthly salary of 2,000 RON, and a graduate from a high school of 1,420 RON, with the euro traded for 3.53 RON. In these cases, the
salaries rose 31 percent in the past two years, partly due to the introduction of the flat tax. In the same period, the salaries of managers increased only 18 percent, due firstly to the flat tax, very advantageous for them. The pharmaceutical sector offers the highest salaries, the average gross one standing at 2,902 RON. Next come the banking sector – 2,664 RON – and the IT&C one – 2,648 RON. Auto retailers and the ones in the industrial sector have a salary average of over 1,700 RON. The study takes into account data from 140 companies for 150,000 employees, covering 500 positions from 10 fields. The analysis includes data from 18 banks, 19 IT&C companies, 4 insurance companies, 36 pharmaceutical ones, 11 retail firms, 23 industrial companies, 5 auto dealers, 6 auto makers and 20 hotel and consumer goods companies, which offered figures representing monthly base salaries.