Average net wage in Romania inches up 1.7% in April

The average gross salary in Romania was of RON 2,395 (EUR 527), in April 2014, up 1.7 percent, in RON, compared to March, while the average net salary was of RON 1,735 (EUR 389), also up 1.7 percent, data released by the National Statistics Institute INS shows. Most of the local activity sectors saw an increase in medium net wage levels in April due to occasional bonuses which local companies paid from last year’s profits or for increased revenues. Some companies also paid their employees bonuses for the Easter holidays. The highest increase in average salaries were in the financial sector. The medium net salary for the financial intermediation sector was of RON 4,577 (EUR 1,026), some 17.4 percent more than in March. Banking personnel saw a 21.5 percent increase in salaries to RON 4,888 (EUR 1,095), which is also the highest sector medium net salary in the country. At the same time, insurance companies’ employees made 6.4 percent less than in March, or RON 3,653 (EUR 819). Another high paid sector is the oil and gas extraction one, where the medium net salary, in April, was of RON 4,279 (EUR 959), 0.7 percent higher than in March. Employees in the air transport sector came third with a medium net of RON 4,106 (EUR 920), 12.4 percent higher compared to March. The lowest paid jobs are in hotels and restaurants, where the medium net salary was just RON 986 (EUR 221) in April, up 1.6 percent. Leather, textile and furniture industries are also among the lowest paying sectors, with medium net wages of less than EUR 250. The tobacco industry saw the sharpest drop in medium net salary in April, which was more than 50 percent, to RON 3,538 (EUR 793). Compared to April 2013, the medium net wage in Romania saw an increase of 4.5 percent in nominal terms and 3.3 percent in real terms (inflation adjusted). Andrei Chirileasa, andrei@romania-insider.com