Top managers in Hungary earn six times more than subordinates
Top managers at Hungarian companies earn 6.2 times more than their subordinates, according to a survey by consultancy Hay Group.
The difference between wages of top managers and rank and file employees grew by 37% this year because of tax changes, Hay Group noted.
Hungary introduced a flat-rate personal income tax system from 2011.
In spite of the increase, the difference in pay was similar to that in other countries in the region. Top managers in the Czech Republic make 5.4 times more than their subordinates and top managers in Slovakia make 5.6 times more. In Poland, top managers make 8.5 times more.
The survey covered mainly multinational companies.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.