Salary of managers grew during the years of the crisis – The Economic Journal

Salary of managers grew during the years of the crisis - The Economic Journal


The wages of business managers grew during the national crisis years, reaching a mean level of 550 thousand euros in 2011, a year in which the Portuguese Government requested external help. In average terms, the managers of companies listed on the Portuguese stock market out of the crisis better than before: in 2016, they earned an average of 450,985 euros, 5.36% more than in 2008 (428,035 euros), according to a study of the remuneration of executives of companies listed in Portugal, revealed by the newspaper "Público" this Sunday.

This study was used in the master thesis in Finance that was defended and approved this week at the Faculty of Economics of Porto (FEP), under the guidance of Jorge Farinha. The author of the thesis, Joana Real, gathered information and tried to analyze the accounts from 2008 to 2016 of 37 companies listed on the Portuguese stock exchange.

Comparing the scenario of managers with that of employees, it was found that the average gain (that is, the total remuneration) of workers was 1,108 euros in 2016, 9.92% more than the 1,008 euros in 2008 .

Even though most have variable remuneration, the truth is that the level of fees seems to depend on other factors that have nothing to do with business developments, such as the size of the company, the industry in which it operates, or the power of the manager.



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