The head of a SIF earns €5,000 a month

The heads of financial investment companies (SIF), among the wealthiest Romanian companies, have a fixed monthly salary of some €5,000, according to sources close to the management.

In addition to the salary, several SIFs also offer performance bonuses at the end of the year, although not all five of the companies follow this practice, said the same sources. Bonuses are linked to indicators, such as profit registered by the company or the net value of assets.

"The salary of a SIF President is below that of a bank President and, generally, salaries are much below those paid within the banking system," said representatives of the SIFs.

As a rule, the Chairman of the Board of a SIF also serves as General Manager. According to human resource market information, the average salary of a bank executive exceeds €15,000.

Business Standard