BUSINESS

PwC: Lower salary growth in the private sector in 2013

Salary growth in the private sector averaged 4.6 percent in 2013, according to this year’s edition of the PayWell salary and benefits study undertook by the Human Resources consulting team of PwC Romania. This is a lower growth rate that in 2012 (5.1 percent), but it marks the return to real growth figures, taking into consideration the lower inflation forecast for this year (around 3 percent). The tapering of the nominal salary growth is seen across all economic sectors analysed by the PayWell study (with exception of IT&C), but the sectors that reported a real average growth rate (higher than inflation) are that of auto manufacturing, industrial products, FMCG, distribution, IT&C, and pharmaceuticals, while banks and retailers have registered salary growth lower than inflation.  The highest salary growth levels were registered for managers (4.9 percent), followed by support staff (4.7 percent) and operational and sales staff (4.5 percent). As to the variable component of salaries, more than half of the participating companies are granting performance bonuses. 52% of the companies offer this kind of bonuses to managers, while one third of the participants offer such bonuses to operational and sales staff.

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