Executive and Management Average Salaries in Serbia 2023
How much money does a person working in Executive and Management make in Serbia?
LOW
62,600
RSD AVERAGE
190,000
RSD HIGH
313,000
RSD
A person working in Executive and Management in Serbia typically earns around 190,000 RSD. Salaries range from 62,600 RSD (lowest average) to 313,000 RSD (highest average, actual maximum salary is higher).
Salary Variance
The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Executive and Management domain in Serbia exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.
Salaries for specific jobs
| Job Title | Average Salary |
| Account Coordinator | 128,000 RSD |
| Administration Manager | 156,000 RSD |
| Area Manager | 146,000 RSD |
| Asset Protection Associate | 156,000 RSD |
| Assistant Director | 156,000 RSD |
| Assistant Manager | 173,000 RSD |
| Assistant Operations Manager | 176,000 RSD |
| Assistant Project Manager | 150,000 RSD |
| Assistant Section Head | 135,000 RSD |
| Assistant to CEO | 145,000 RSD |
| Assistant Vice President | 173,000 RSD |
| Associate Director | 157,000 RSD |
| Bid Manager | 182,000 RSD |
| Branch Manager | 171,000 RSD |
| Business Development Manager | 195,000 RSD |
| Business Operations Associate | 151,000 RSD |
| Business Operations Lead | 155,000 RSD |
| Campaign Manager | 171,000 RSD |
| Chairman of The Board | 286,000 RSD |
| Chairman Office Manager | 186,000 RSD |
| Chief Corporate Officer | 244,000 RSD |
| Chief Executive Officer | 296,000 RSD |
| Chief Financial Officer | 264,000 RSD |
| Chief of Staff | 142,000 RSD |
| Chief Operating Officer | 221,000 RSD |
| Chief Risk Officer | 188,000 RSD |
| Client Services Manager | 189,000 RSD |
| Commercial Project Manager | 160,000 RSD |
| Commodity Broker | 124,000 RSD |
| Corporate Affairs Executive | 180,000 RSD |
| Corporate Compliance Director | 190,000 RSD |
| Corporate Director | 198,000 RSD |
| Corporate Officer | 135,000 RSD |
| Corporate Partnerships Officer | 145,000 RSD |
| Country Manager | 228,000 RSD |
| Deputy Director | 203,000 RSD |
| Director | 239,000 RSD |
| Director of Accreditation | 189,000 RSD |
| Director of Catering Services | 186,000 RSD |
| Director of Client Services | 191,000 RSD |
| Director of Facilities Management | 170,000 RSD |
| Director of Operations | 199,000 RSD |
| Director of Process Simplification | 156,000 RSD |
| Director of Project Management | 200,000 RSD |
| Director of Revenue Management | 178,000 RSD |
| Director of Training and Development | 196,000 RSD |
| Distribution Manager | 208,000 RSD |
| Division Manager | 175,000 RSD |
| Duty Manager | 172,000 RSD |
| Engagement Manager | 202,000 RSD |
| Executive Director | 298,000 RSD |
| Executive Manager | 234,000 RSD |
| Franchise Manager | 265,000 RSD |
| General Manager | 234,000 RSD |
| Global Master Data Manager | 213,000 RSD |
| Head of Middle Office | 194,000 RSD |
| Head of Projects | 192,000 RSD |
| Head of Sustainability | 173,000 RSD |
| Housing Manager | 163,000 RSD |
| HSE Manager | 164,000 RSD |
| Key Account Manager | 174,000 RSD |
| Knowledge Manager | 185,000 RSD |
| Location Manager | 193,000 RSD |
| Logistics Manager | 150,000 RSD |
| Management Consultant | 158,000 RSD |
| Management Executive | 213,000 RSD |
| Manager | 207,000 RSD |
| Managing Director | 237,000 RSD |
| MIS Executive | 198,000 RSD |
| Ocean Services Manager | 217,000 RSD |
| Operations Assistant | 145,000 RSD |
| Operations Director | 222,000 RSD |
| Operations Executive | 216,000 RSD |
| Operations Manager | 230,000 RSD |
| Operations Supervisor | 191,000 RSD |
| Policy Administration Executive | 171,000 RSD |
| Private Sector Executive | 178,000 RSD |
| Product Development Manager | 199,000 RSD |
| Product Executive | 167,000 RSD |
| Production Executive | 197,000 RSD |
| Production Manager | 202,000 RSD |
| Production Supervisor | 177,000 RSD |
| Program Manager | 206,000 RSD |
| Programme Coordinator | 140,000 RSD |
| Project Control Manager | 216,000 RSD |
| Project Coordinator | 120,000 RSD |
| Project Management Officer | 145,000 RSD |
| Project Manager | 145,000 RSD |
| Project Portfolio Manager | 163,000 RSD |
| Quality Manager | 155,000 RSD |
| R/D Director | 173,000 RSD |
| Regional Director | 262,000 RSD |
| Regional Manager | 214,000 RSD |
| Relationship Manager | 208,000 RSD |
| Retail District Manager | 145,000 RSD |
| Revenue Manager | 157,000 RSD |
| Risk and Capital Manager | 217,000 RSD |
| Risk Officer | 159,000 RSD |
| Safety Manager | 151,000 RSD |
| Section Head | 153,000 RSD |
| Service Manager | 166,000 RSD |
| Shift Supervisor | 128,000 RSD |
| Solutions Manager | 137,000 RSD |
| Supervisor | 128,000 RSD |
| Supply Chain Manager | 210,000 RSD |
| Surveyor | 141,000 RSD |
| Technical Manager | 196,000 RSD |
| Territory Manager | 193,000 RSD |
| Validation Manager | 178,000 RSD |
| Vice President | 250,000 RSD |
| Zone Manager | 214,000 RSD |
Executive and Management Jobs Pay Scale and Salaries in Serbia
Salary Structure and Pay Scale Comparison
164,000 RSD or more
139,000 to 164,000 RSD
83,400 RSD or less
83,400 to 139,000 RSD
 62,600 RSD |
172,000 RSD |
313,000 RSD |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries in Executive and Management in Serbia range from 62,600 RSD (starting average salary) to 313,000 RSD (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.
Median Salary
The median income in the field of Executive and Management is 172,000 RSD, implying that half of the workforce in Serbia earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.
Percentiles and Salary Scale
Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Executive and Management in Serbia earn less than 130,000 RSD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 204,000 RSD, while 25% earn more than that.
Pay Scale Structure
Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Executive and Management in Serbia. The analysis revealed that roughly 65% of all reported salaries fell within the range of 83,400 RSD to 139,000 RSD. Approximately 20% of salaries were below the 83,400 RSD mark, while 10% ranged from 139,000 RSD to 164,000 RSD. Only 5% of individuals earned a gross salary of 164,000 RSD or higher.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.
Generally speaking, employees in Executive and Management in Serbia having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
Salary Comparison By Education
How does the education level affect your salary?
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?
We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Executive and Management in Serbia, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Serbia costs anywhere from 701,000 RSD to 2,100,000 RSD and lasts approximately two years. That is quite an investment.
Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.
Salary and Compensation Comparison By Gender / Executive and Management / Serbia
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Executive and Management in Serbia, the average difference between the salary of male and female employees is 5%.
| Male | 194,000 RSD | |
| Female | -5% | 184,000 RSD |
Salary Comparison By Gender in Serbia for all Careers
Average Annual Salary Increment Percentage / Executive and Management / Serbia
How much are annual salary increments in Serbia for individuals working in Executive and Management? How often do employees get salary raises?
Professionals working in Executive and Management in Serbia are likely to observe a salary increase of approximately 10% every 17 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.
Serbia / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Annual Increment Rate By Industry 2022
| Banking | 4% | |
| Energy | 8% | |
| Information Technology | 3% | |
| Healthcare | 7% | |
| Travel | 2% | |
| Construction | 6% | |
| Education | 1% |
Listed above are the average annual increase rates for each industry in Serbia for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Executive and Management / Serbia
How much and how often are bonuses being awarded?
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25% of surveyed staff in Executive and Management reported that they haven't received any bonuses or incentives in the previous year while 75% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
| Received Bonus | 75% | |
| No Bonus | 25% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Salary Forecast and Trend / Executive and Management / Serbia
How are salaries changing over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 168,000 RSD | |
| Average Salary 2020 | +4% | 175,000 RSD |
| Average Salary 2021 | +3% | 180,000 RSD |
| Average Salary 2022 | +2% | 183,000 RSD |
Salaries for individuals working in Executive and Management in Serbia are rising in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.
Hourly Average Wage / Executive and Management / Serbia
1,090 RSD per hourThe average hourly wage (pay per hour) in Executive and Management in Serbia is 1,090 RSD.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working in Executive and Management in Serbia is 360 RSD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Executive and Management VS Other Jobs
Salary Comparison By City
| City | Average Salary |
| Belgrade | 207,000 RSD |
| Novi Sad | 197,000 RSD |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Serbia is 14% on average across all career fields.
| Private Sector | 131,000 RSD | |
| Public Sector | +14% | 150,000 RSD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary in Executive and Management in Serbia?
A good and competitive compensation would range anywhere between 172,000 RSD and 204,000 RSD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for jobs in Executive and Management in Serbia ranges from 130,000 RSD to 204,000 RSD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
