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Romania’s Cos See Manager Salaries Flat Or Slightly Higher In ’09 – Ernst & Young

Representatives of Romanian companies forecast a moderate growth of managers’ salaries, and some estimate the salaries will remain unchanged, because of economic turmoil, according to a February Ernst&Young survey.
Romania’s Cos See Manager Salaries Flat Or Slightly Higher In ’09 - Ernst & Young
31 mart. 2009, 15:21, English

The survey shows how managers’ salaries can be "reshaped" to meet the changes triggered by the economic crisis.

According to the survey, around 25% of the respondent companies forecast managers’ fixed salaries will be frozen in 2009, while others forecasted an average annual growth of about 9%.

On the other hand, the survey also said the selection and settlement of the performance measures to grant bonuses for 2009 will probably be the biggest challenge in the field of wage policies.

"Companies could be forced to reconsider the entire philosophy grounding bonus-granting as a reward to managers for the company’s performance or as incentive to reach specific objectives," the survey also said.

The survey included 24 companies on the local market, 40% of which were very large, employing over 1,000 people and with turovers of more than EUR100 million turnover.