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Romanian employers paying executives 20-30pc more than multinationals

Major Romanian business holdings are paying up to 20-30 percent more than multinationals to attract skilled people from multinationals who have experience at large companies with a global presence, but also to offset the risks associated by managers with a career in a Romanian-held company, daily Ziarul financiar reports on Tuesday.

'We are getting more and more requests from top managers who explicitly tell us that they want to work for Romanian companies and moreover, turn down job offers from multinationals,' says Daniela Necefor, managing partner of executive search company Total Business Solutions (TBS). A chief executive officer of a Romanian company may get as much as 10,000-15,000 euros in monthly remunerations, whereas only some of the top multinationals with thousands of employees pay this much money to the most powerful people in their management structures. 'The major Romanian holdings are the ones who reward their executives most generously,' believes Mihaela Damian, managing partner of executive search company Stanton Chase. After a period of fast-paced growth, entrepreneurial endeavours feel a stronger need for experienced executives. The risks managers associate with jobs in Romanian companies include vulnerable entrepreneurial businesses, less predictable market trends, higher management subjectivity (given that almost all business owners hold executive positions), lack of procedures, of prospects for an international career, lower levels of job security-owners sack people more readily. Another reason for the higher remuneration in Romanian companies is the fact that multinationals have clearly defined salary brackets, which do not allow for very high variations in the remuneration for a specific position, while an entrepreneur is much more flexible when it comes to obtaining the interest of top executives. One of the constraints of multinationals comes from the fact that the executives of Romanian branches may not, for instance, get higher salaries than their counterparts in other European branches. On the other hand, multinationals provide not only the expertise of a worldwide group and more formal procedures, but also the advantage of international experience via expatriation. The trend of executives taking over offices in Romanian companies to the detriment of multinationals is quite new in Romania, only felt stronger over the past years since the businesses developed by entrepreneurs got bigger, shooting them up to the large and very large categories. Among the largest companies running on Romanian capital are Tiriac Holding, Ambient, Arabesque, Altex, Mobexpert, the Ana group of companies, some Fast Moving Consumer Goods (FMCG) companies, including Cristim, Caroli and the European Drinks group of companies. Sursa: http://www.rompress.ro

Tags: romanian multinationals companies executives

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