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Chief Executive Officer Average Salary in Bulgaria 2022

How much money does a Chief Executive Officer make in Bulgaria?


Average Monthly Salary
7,850 BGN
( 94,200 BGN yearly)

LOW
3,610
BGN
AVERAGE
7,850
BGN
HIGH
12,500
BGN

A person working as a Chief Executive Officer in Bulgaria typically earns around 7,850 BGN per month. Salaries range from 3,610 BGN (lowest) to 12,500 BGN (highest).

This is the average monthly salary including housing, transport, and other benefits. Chief Executive Officer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Chief Executive Officer Salary Distribution in Bulgaria

Median and salary distribution monthly Bulgaria Chief Executive Officer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Chief Executive Officer salaries in Bulgaria range from 3,610 BGN per month (minimum salary) to 12,500 BGN per month (maximum salary).

  • Median Salary

    The median salary is 8,480 BGN per month, which means that half (50%) of people working as Chief Executive Officer(s) are earning less than 8,480 BGN while the other half are earning more than 8,480 BGN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Chief Executive Officer(s) are earning less than 5,440 BGN while 75% of them are earning more than 5,440 BGN. Also from the diagram, 75% of Chief Executive Officer(s) are earning less than 11,300 BGN while 25% are earning more than 11,300 BGN.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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

Chief Executive Officer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Bulgaria Chief Executive Officer
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Chief Executive Officer salaries by experience level and this is what we found.

A Chief Executive Officer with less than two years of experience makes approximately 4,100 BGN per month.

While someone with an experience level between two and five years is expected to earn 5,480 BGN per month, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 8,090 BGN per month, 48% more than someone with two to five years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Additionally, Chief Executive Officer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 9,870 BGN per month, 22% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 10,800 BGN per month, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 11,600 BGN per month, 8% more than people with fifteen to twenty years of experience.


Chief Executive Officer average salary change by experience in Bulgaria

0 - 2 Years
4,100 BGN
2 - 5 Years+34%
5,480 BGN
5 - 10 Years+48%
8,090 BGN
10 - 15 Years+22%
9,870 BGN
15 - 20 Years+9%
10,800 BGN
20+ Years+8%
11,600 BGN
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Chief Executive Officer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Chief Executive Officer(s) who have the same experience but different education levels.

Salary comparison by education level monthly Bulgaria Chief Executive Officer
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Chief Executive Officer salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Chief Executive Officer is 3,700 BGN per month.

While someone with a Certificate or Diploma gets a salary of 4,590 BGN per month, 24% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 6,360 BGN per month, 39% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 10,400 BGN per month, 63% more than someone with Bachelor's Degree.

PhD holders are compensated with wage equivelant to 12,400 BGN per month, 20% more than someone with Master's Degree.


Chief Executive Officer average salary difference by education level in Bulgaria

High School
3,700 BGN
Certificate or Diploma+24%
4,590 BGN
Bachelor's Degree+39%
6,360 BGN
Master's Degree+63%
10,400 BGN
PhD+20%
12,400 BGN
Percentage increase and decrease are relative to the previous value

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 Bulgaria costs anywhere from 16,500 Bulgarian Lev(s) to 49,500 Bulgarian Lev(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you 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 into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Chief Executive Officer Salary Comparison By Gender

Salary comparison by gender monthly Bulgaria Chief Executive Officer
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Chief Executive Officer employees in Bulgaria earn 9% more than their female counterparts on average.

Male
8,180 BGN
Female-8%
7,530 BGN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bulgaria for all Careers

Salary comparison by gender monthly Bulgaria
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Chief Executive Officer Average Annual Salary Increment Percentage in Bulgaria

How much are annual salary increments in Bulgaria for Chief Executive Officer(s)? How often do employees get salary raises?

Chief Executive Officer

Chief Executive Officer(s) in Bulgaria are likely to observe a salary increase of approximately 13% every 20 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.

Annual Salary Increment Rate Bulgaria Chief Executive Officer
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Bulgaria / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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

The average salary increase in one year (12 months) in Bulgaria is 4%.

Annual Increment Rate By Industry 2021

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Listed above are the average annual increase rates for each industry in Bulgaria for the year 2021. 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

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Chief Executive Officer Bonus and Incentive Rates in Bulgaria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bulgaria Chief Executive Officer
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A Chief Executive Officer is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

16% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 84% 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
84%
No Bonus
16%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, 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 Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These 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 GeneratorsSupporting 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:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

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.

Chief Executive Officer Average Hourly Wage in Bulgaria


45 BGN per hour

The average hourly wage (pay per hour) in Bulgaria is 45 BGN. This means that the average Chief Executive Officer in Bulgaria earns approximately 45 BGN for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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 fix 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.

Chief Executive Officer VS Other Jobs

Salary Comparison Between Chief Executive Officer and Executive and Management monthly Bulgaria
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The average salary for Chief Executive Officer is 76% more than that of Executive and Management. Also, Executive and Management salaries are 35% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Coordinator3,080 BGN-61%
Administration Manager3,600 BGN-54%
Area Manager3,660 BGN-53%
Asset Protection Associate3,900 BGN-50%
Assistant Director3,890 BGN-50%
Assistant Manager4,000 BGN-49%
Assistant Operations Manager4,590 BGN-42%
Assistant Project Manager4,060 BGN-48%
Assistant Section Head3,260 BGN-58%
Assistant to CEO3,560 BGN-55%
Assistant Vice President4,150 BGN-47%
Associate Director4,010 BGN-49%
Bid Manager4,270 BGN-46%
Branch Manager4,350 BGN-45%
Business Development Manager4,770 BGN-39%
Business Operations Associate3,780 BGN-52%
Business Operations Lead4,030 BGN-49%
Campaign Manager4,370 BGN-44%
Chairman of The Board7,280 BGN-7%
Chairman Office Manager4,940 BGN-37%
Chief Corporate Officer6,220 BGN-21%
Chief Executive Officer7,850 BGN-0%
Chief Financial Officer6,890 BGN-12%
Chief of Staff3,420 BGN-56%
Chief Operating Officer5,510 BGN-30%
Chief Risk Officer4,800 BGN-39%
Client Services Manager4,830 BGN-38%
Commercial Project Manager4,160 BGN-47%
Commodity Broker2,980 BGN-62%
Corporate Affairs Executive4,310 BGN-45%
Corporate Compliance Director4,940 BGN-37%
Corporate Director5,360 BGN-32%
Corporate Officer3,660 BGN-53%
Corporate Partnerships Officer3,630 BGN-54%
Country Manager5,830 BGN-26%
Deputy Director5,180 BGN-34%
Director5,980 BGN-24%
Director of Accreditation5,020 BGN-36%
Director of Catering Services4,660 BGN-41%
Director of Client Services4,680 BGN-40%
Director of Facilities Management3,990 BGN-49%
Director of Operations4,770 BGN-39%
Director of Process Simplification4,050 BGN-48%
Director of Project Management5,200 BGN-34%
Director of Revenue Management4,730 BGN-40%
Director of Training and Development5,000 BGN-36%
Distribution Manager5,010 BGN-36%
Division Manager4,210 BGN-46%
Duty Manager4,390 BGN-44%
Engagement Manager5,270 BGN-33%
Executive Director7,450 BGN-5%
Executive Manager6,330 BGN-19%
Franchise Manager6,380 BGN-19%
General Manager6,080 BGN-23%
Global Master Data Manager5,440 BGN-31%
Head of Middle Office4,850 BGN-38%
Head of Projects4,990 BGN-36%
Head of Sustainability4,330 BGN-45%
Housing Manager3,830 BGN-51%
HSE Manager3,930 BGN-50%
Key Account Manager4,270 BGN-46%
Knowledge Manager4,620 BGN-41%
Location Manager4,540 BGN-42%
Logistics Manager3,980 BGN-49%
Management Consultant3,860 BGN-51%
Management Executive5,550 BGN-29%
Manager4,990 BGN-36%
Managing Director6,050 BGN-23%
MIS Executive4,860 BGN-38%
Ocean Services Manager5,220 BGN-34%
Operations Assistant3,490 BGN-56%
Operations Director5,660 BGN-28%
Operations Executive5,390 BGN-31%
Operations Manager5,750 BGN-27%
Operations Supervisor4,410 BGN-44%
Policy Administration Executive4,270 BGN-46%
Private Sector Executive4,630 BGN-41%
Product Development Manager4,980 BGN-37%
Product Executive4,340 BGN-45%
Production Executive4,920 BGN-37%
Production Manager4,950 BGN-37%
Production Supervisor4,080 BGN-48%
Program Manager5,450 BGN-31%
Programme Coordinator3,650 BGN-54%
Project Control Manager5,390 BGN-31%
Project Coordinator3,120 BGN-60%
Project Management Officer3,560 BGN-55%
Project Manager3,780 BGN-52%
Project Portfolio Manager4,160 BGN-47%
Quality Manager4,210 BGN-46%
R/D Director4,410 BGN-44%
Regional Director6,700 BGN-15%
Regional Manager5,250 BGN-33%
Relationship Manager4,990 BGN-36%
Retail District Manager3,500 BGN-55%
Revenue Manager3,840 BGN-51%
Risk and Capital Manager5,870 BGN-25%
Risk Officer3,670 BGN-53%
Safety Manager3,630 BGN-54%
Section Head3,760 BGN-52%
Service Manager3,910 BGN-50%
Shift Supervisor3,130 BGN-60%
Solutions Manager3,420 BGN-56%
Supervisor3,210 BGN-59%
Supply Chain Manager5,370 BGN-32%
Surveyor3,450 BGN-56%
Technical Manager4,800 BGN-39%
Territory Manager4,830 BGN-38%
Validation Manager4,200 BGN-47%
Vice President5,880 BGN-25%
Zone Manager5,240 BGN-33%

Salary Comparison By City

CityAverage Salary
Burgas7,450 BGN
Plovdiv7,920 BGN
Rousse7,370 BGN
Sofia8,140 BGN
Stara Zagora7,120 BGN
Varna7,690 BGN

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Bulgaria earn 9% more than their private sector counterparts on average across all sectors.

Private Sector
3,130 BGN
Public Sector+9%
3,420 BGN
Percentage increase and decrease are relative to the previous value

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