Gross wages among employees in private Romanian companies have risen by an average of 12% this year, the highest rate in 15 years, as firms try to offset record inflation, but also in the context of a very competitive labour market, according to the PayWell 2022 salary study conducted by PwC Romania.

For 2023, private companies anticipate an average increase in gross wages of 9.3%.

Wage increases are significant, exceeding 10% in many sectors, with percentages not seen in the last 15 years, even if they have not offset the erosion caused by inflation, according to PwC's report.

"The pressures for wage growth will continue in the coming year, but we expect slightly lower percentages in the context of the uncertain outlook for economic growth. However, we notice that more and more companies are evaluating the sustainability of these increases and are accelerating other measures to improve efficiency and increase productivity", said Oana Munteanu, People & Organization Director, PwC Romania.

andrei@romania-insider.com

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