“Although the difference isn’t major, this is the first year in a long time when the average salary raise in Romania is higher than employers initially planned (3.9%). This is a sign the economy is on an upward trend. Moreover, since Romania registers deflation, mainly due to a cut in value-added tax, Romanian employees have higher purchasing power, which we expect will translate into higher consumption in 2015 and 2016,” Mihaela Mitroi, head of fiscal and legal consultancy with PwC Romania, said in a press release.
The highest salary growth in 2015 was in the pharmaceutical and fast moving consumer goods industries (4.5% each). As last year, the banking sector and retail posted wage growth below the market average, of 2% and 3.7%, respectively.
By categories of employees, the biggest pay raises were among workers (4.2%) and operating staff (4.3%), while salaries among top managers grew at a slower pace, of 3.9%.
For 2016, employers polled for the PayWell Romania 2015 survey plan salary hikes of 3.9%, the same as for this year.
The survey showed 38% of Romanian employers offer fixed bonuses to all employees, regardless of job or company performance, on various occasions such as holidays and vacation bonuses. These bonuses range from RON500 to RON1,500 depending on employer and industry or are given as a percentage of an employee’s monthly salary.
Performance bonuses are widely used, especially for top management positions, and range from one to four monthly salaries.
The most frequently offered benefits, used by more than 50% of employers in Romania, are meal tickets, private medical care subscriptions and social activities.
PayWell Romania 2015 analyzes salary levels and policies of 112 employers in seven economic sectors.