The gross average salary in Bucharest increased by approximately 3.4%, while in counties in Transylvania, Muntenia and Eastern Romania, the gross average salary remained at last year’s level.
“Two factors explain why the wage dynamics in Western Romania are more accelerated. On the one hand, there is intense competition between the employers, mostly manufacturing organizations, geared towards attracting and motivating a workforce that has similar profiles and backgrounds (for example, engineers or qualified workers). Moreover, the availability of the labor force is limited, with an unemployment rate of 3-4%, half of the 7% found at the national level,” stated Horatiu Cocheci, Senior Manager, Leader of the Human Resources Consultancy Team, PwC Romania.
The PwC study also points out that the wages of the employees working in companies with a turnover between EUR25 million-EUR100 million are 70% higher than of those working in companies with a turnover of under EUR10 million and 8% higher than of those working in companies with a turnover of over EUR100 million.
The differences are similar to those based on the numbers of employees: the average salary in the companies employing between 100 and 1000 people is 71% higher than of those employing less than 100 people, and 16% higher than of those employing over 1,000 people.
“These differences are generated by the accelerated growth that characterizes, most of the times, this type of middle-sized organizations compared to big companies, which are more stable, and to small companies, which are building up their businesses. Moreover, these companies can afford to pay more to ensure that they will have a workforce capable of generating and sustaining growth,” Cocheci stated.
PayWell Romania 2014 salary and benefits survey comprises compensation data provided by 166 companies across 9 industry sectors (advertising, banking, FMCG, industrial products, IT&C, leasing, pharmaceuticals, retail, outsourcing and service centers).