BUSINESS

PwC: 4.1 pc average wage increasing in the private sector

The average wage increase in the private sector amounted to 4.1 percent in 2014, according to this year’s edition of the PayWell Romania salary and benefits survey. This figure is similar to 2013 (4.6 percent).
“Despite the increase in the minimum wage, which was twice increased in the last 12 months, salaries in the private sector registered only a modest growth in 2014.  On the other hand, the downward trend of the inflation rate reduced salary pressures”, stated Mihaela Mitroi, Tax and Legal Services Leader, PwC Romania in a press release.
The highest wage increases in 2014 were reported in the IT&C sector (7 percent), while the lowest were in banking and retail (both 3.2 percent). 86 percent of the participating companies increased or plan to increase wages in 2014, while 14 percent either don’t intend to operate such wage increases, or haven’t taken a decision by the time the survey’s data were collected.
“(…) For 2015, 54 percent of the participating companies in the PayWell Romania study have budgeted an average salary increase rate of around 4 percent, similar to this year”, added Mihaela Mitroi.
In what concerns the extra-salary benefits, PayWell survey concludes that half of the Romanian companies provide fix bonuses to all employees, in connection with the winter holydays, Easter and the summer season vacations. These bonuses are usually offered as fixed amounts, up to RON 2,250. Fixed income now amounts to 92 percent in total remuneration package (compared to just 69 percent in 2008), while performance bonuses decreased to 5 percent of total remuneration and extra-salary benefits to 3 percent.

Related posts

Eurozone agrees to lend Spain up to EUR 100 bln

Nine O' Clock

EximBank gains 5 positions in Top 100 Banks in SEE

Nine O' Clock

E-Distribuție connects a new field hospital, supporting the efforts of medical teams in the fight against COVID-19

NINE O'CLOCK

Leave a Comment