From Novinite

Bulgarian Executives Received 8% Increase 2010

The middle- and high-level executives in Bulgaria have received an 8% average increase of their salaries in 2010, according to the PwC accountancy company.

A total of 16 large Bulgarian companies have been included in PricewaterhouseCoopers' PayWell Bulgaria 2010 survey, conducted between in October and November 2011. The 8% salary increase for the middle- and high level management is 2% below the initially predicted figures.

The CEO's bonuses have increased with double as little than the initially expected 25% and 21% for the high- and middle management levels respectively.

In 2011, the Bulgarian companies plan an even slower increase in management salaries – with 5% on average.

"
Even though 2010 saw some economic sectors overcome the crisis, like the export oriented companies, the market is still pessimistic about the internal market's potential recovery,"
Paul Tobin, a PwC Bulgaria associate has commented.