Executive compensation in Latvia: Salaries are increasing with responsibilities, “Dienas Bizness”
The average salaries of top executives in Latvia are increasing in line with global trends, especially for managers in Finance and IT.
In 2015, the annual gross compensation for top executives in the world’s largest companies averaged 1.45 million Euros, an increase of 3.8% over the previous year. In Latvia, the annual gross compensation for top executives increased by 3.2% in 2015.
“It is difficult to compare the compensation of top executives in Latvia with that of their Western European and American counterparts, because company turnover and profit determine the compensation package. In Latvia, even the largest companies only have turnover of around 1 billion Euros, so 120-150 thousand Euros gross annual salary can be considered as good compensation for top executives in Latvia,” explains Ms. Lune.
Evita Lune joined Pedersen & Partners in 2005; she is Partner, the Country Manager for Latvia and Head of the Retail Practice Group. As Partner Ms. Lune also takes on regional oversight, and through completing numerous senior level assignments Ms. Lune has established strong cooperation with clients in Poland, the Baltics, Scandinavia, Russia and CIS across such sectors as: Consumer Goods, Retail, Pharmaceutical, Manufacturing and the Professional Services sectors. Her previous experience includes three years with the Stockholm School of Economics in Riga as the Executive MBA Program Director and six years with Shell in international regional marketing management functions in Riga, Budapest and Brussels.
Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com