Pay level creeps up

  • 2011-08-17
  • From wire reports

RIGA - Fifty-four percent of surveyed companies in Latvia have increased their staff salaries this year, according to the study carried out by the international personnel management consulting company Hay Group, reports Overall, 54 percent of those surveyed have increased staff pay, 42 percent have not changed it, and 4 percent have decreased pay levels.
In general, salaries in Latvia in 2011 have increased 1.2 percent - salaries in international companies have grown 2.1 percent, whereas in domestic companies by 0.4 percent.

The highest-paid are in companies in the pharmacy and finance industries, while last year’s leaders were IT specialists. Last year’s winners, though, have been dethroned by project managers, lawyers, finance and accounting specialists in terms of highest salaries.

The lowest-paid are in research and development, as well as retail employees.
The highest salaries are paid in Riga and Kurzeme, the lowest in Vidzeme and, not surprisingly, in Latgale.
“The Latvian economy is recovering, almost one half of GDP is formed by exports. Companies increase staff pay as a result of increasing economic stability and the fairness of an organization,” said Hay Group’s chief in Latvia, Liga Rode.
Nonetheless, the study suggests that Latvian salaries are still far from the level of Western Europe. The highest difference is still between administrative staff salaries, the smallest between government staff salaries.