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Executive salaries in manufacturing and production will rise by more than 10 percent this year, with the biggest increase coming in research and development, where wages have risen by more than 13 percent, said Wyser, a mid and senior-level executive recruitment firm, reported MTI on Thursday.
Last month, Wyser conducted a survey of employee trends with almost 500 middle and senior managers.
They found that factory managers’ salaries have already exceeded HUF 3 million gross (EUR 7,550), followed by technical directors at HUF 1.9 million (EUR 4,800). Managers working in classic functional areas such as engineering, quality assurance, and research and development can expect an average salary of HUF 1.6 million (EUR 4,000).
The publication quoted Bence Szalai, head of Wyser Technology, as saying that only 50 percent of respondents said that base salary was important, meaning that there are more essential elements in the ideal benefits package. For 90 percent of respondents, the size of the bonus they can expect is important.
These professionals are seeking to shift their benefits packages towards performance-related pay. Health insurance, retirement savings, and a share plan are also very important to them.
The survey also shows that managers are open to rural positions: 55% of respondents would even move away from the city where they live for a better offer, project, more innovative technology, or professional challenge.
Salaries vary by region. Salaries in Szabolcs-Szatmár-Bereg county are at least 20 percent lower than in Győr-Moson-Sopron county for the same job.
The automotive industry is the most attractive sector, where more than 70% of respondents would like to work. In terms of the popularity of industries, electronics comes second, and aerospace third.
The most attractive company culture for managers is German, with almost 70 percent of respondents wanting to work for a company with this background.
Bence Szalai said in the press release that 55% of respondents would like to work for a domestically owned company, which shows that Hungarian companies are able to offer the same favorable working conditions, standards, and career prospects as Western multinationals.
With a history of more than 20 years, the Gi Group exceeded HUF 2.5 billion (EUR 6 million) in turnover in 2020. Gi works with more than 22,000 partners every year. The Group is present in more than 50 countries and employs almost 4,000 people in 500 branches. In Hungary, Gi Group Holding is represented by the Grafton Recruitment, Wyser, and Gi Group brands.
Featured image: illustration via Pixabay