| New Online Compensation Database by Neumann International |
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The annual total cash compensation of a Managing Director in an international company in Serbia is 95,500 Euros gross on average. This amount includes a base salary of 69,200 Euros plus an annual bonus of 26,300 Euros. "Salaries for Managing Directors in Serbia usually range from 45,000 to more than 200,000 Euros", says Conrad Pramboeck, Head of Compensation Consulting at Neumann International. These large differences in compensation can be explained by different areas of responsibility. "Executives in large companies generally earn higher salaries than managers in smaller ones", says Pramboeck. Salary increases were 19.2% on average in Serbia and are expected to be around 18.7% in the next 12 months, including the adjustment for inflation. In addition, a better performance of a manager also reflects in his annual bonus, which on average amounts to 30 to 40 % of his base annual salary on top at the end of the year. A company car is usually part of a remuneration package for a Managing Director. The most common car models are BMW and Audi. The average budget is 40,000 Euros with average yearly costs of 10,000 Euros. From an international point of view, salaries in Serbia are still below average. The highest salaries in Europe are paid in the United Kingdom, Switzerland, and Germany, where top executives in big groups can earn several million Euros per year. Lower salaries than in Serbia are paid in Southeast Europe, like Bulgaria, Bosnia, Macedonia and Albania. These are some of the key results of the current salary survey of Neumann International, displayed in the new online compensation database
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