The average salary of CFOs in Timis County exceeds €2,500, compared to €1,714 in Sibiu and €1,475 in Cluj.
“I would like to mention that these figures do not necessarily imply that salaries in Cluj are lower than those in Timis. In Cluj, where some companies are very new investments in Romania, the chief financial officer position is still filled by expats, whose salaries are not on the Romanian payrolls of companies,” said Gynella Parfenie, Senior Consultant of AIMS Human Capital Romania.
Generally, expats receive higher salaries than local managers and even of managers in the countries from which they come. When relocating, an expat’s salary increases by at least 20 percent, according to headhunting specialists. In some cases, expats are up to six times more expensive than local managers.
Although the salary growth rate in Romania in the past few years was one of the highest in Europe, salaries on the local market are below those registered in other European countries, considering that CFOs working in France and Germany have a monthly salary of some €11,000.
