VILNIUS - Senior managers in Lithuania are among the lowest paid in Europe, but they can still buy more with their salaries than their higher-paid counterparts in some Central European countries, a new study by Mercer Human Resources Consulting shows.
Senior Lithuanian managers earn 41,400 euros per year on average, according to the report, which was cited by the Verslo Zinios business daily.
"While senior managers in some European countries earn large salaries, their purchasing power can be significantly reduced by high tax and living costs," said Mark Sullivan, head of international consulting at Mercer.
For instance, the study revealed that senior managers in Hungary earn around 44,000 euros annually, but they can buy less with their salaries than their Lithuanian counterparts because of differences in living costs.
Top executives in Switzerland and Germany earn the highest salaries, at 133,000 euros and 108,000 euros respectively, while those in Latvia earn the lowest salaries, or 28,000 euros.
Senior managers in Switzerland and Germany also score highest in terms of purchasing power. For example, they can buy over three times more with their salaries than senior managers in Latvia and Estonia.
The 106-page study compares fixed salaries in 53 countries for six position levels, from general laborers to executives based on 2004 data.
