Average net salary in Romania's insurance sector reaches EUR 1,000

The average net salary in the insurance sector is twice bigger compared to the average net salary in the economy. The insurance industry, despite struggling with losses for ten years, is one of the top industries with some of the highest average net salaries. Employees in insurance earned an average net wage of almost EUR 1,000 in July, up 20% year-on-year, reports local Ziarul Financiar. By comparison, the net wage in the economy rose only by 13% during this period reaching EUR 460. The net salary in the insurance sector managed to exceed the net wage in the banking sector, which reached some EUR 966. The insurance sector recorded both layoffs, with 600 employees leaving from the nine largest insurers last years, and higher salaries. Between July 2008 and July this year, the sector recorded losses of RON 3 billion (EUR 674 million), but the average net wage doubled. editor@romania-insider.com