Bank salaries up, insurance pay down in June

The net salary rose 1,4 pc, or RON 22, to 1,552 RON in June, with financial brokerage at the highest end of the pay scale (RON 4,114), and hotels and restaurants (RON 845), at the opposite, according to data published by the  National Institute of Statistics (INS). The average salary after tax increased 5.4 pc in June from 103.3 pc a year ago.In most of the economic sectors, June 2012 salaries were higher from previous month, as a result of occasional bonuses, net gains and others (including meal vouchers), higher output or more revenues (depending on contracts)”, the INS release states, with tobacco products and telecommunications seeing the steepest hikes, 24.6 pc and 23,3 pc respectively. Also, the average net pay after tax in June fell as a result of lower production, less revenues (depending on contracts), financial straits and lack of orders. The fields with the most significant declines in media net salaries were as follows: crude petroleum and natural gas extraction, 16 pc, coke products and crude oil manufacturing, 14.3 pc respectively, insurance, reinsurance and pension funds (save for the public social insurance system) sectors, as well as ancillary extraction operations and extraction of superior and inferior coal, pay was down 7.5-11 pc.  The public sector registered June average net salary gains as a result of the implementation of the emergency ordinance OUG 19/2012 on recovery of salary cuts. The public administration has therefore witnessed salary increases after tax of 7.9 pc from May, health and social insurance, 6.9 pc, and education, 4 pc.

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