Just lagging behind Switzerland, UK managers are the next highest paid in Europe.
These are the latest findings from a Watson Wyatt report.
While Swiss senior managers earn an average 200,524 euros, UK senior managers’ take home pay is just shy of that at 195,879 euros.
The report authors predict that the biggest movements will be seen in Greek managers’ pay. They are expected to rise fastest in Europe this year at 5.4% while the lowest expected increases are at 2.5% and 3.1% in Switzerland and Germany respectively.
The expected average salary increase for senior managers in the UK in 2005 is 3.7%.
Anne G Severeyns, a consultant at Watson Wyatt said: “Despite the increase top management in Greece still earns among the lowest salaries in Western Europe with those in Switzerland the highest.
“This can be explained by the differing economic backgrounds and differing rates of inflation – around 3.5 per cent in Greece compared to 0.6 per cent in Switzerland. Nevertheless, the trend is clear with the differences between the pay of top managers across Europe slowly narrowing over time.”
In March, HRZone reported that the pay gap across Europe is narrowing.
