Managers earned less in real terms in 2023

The salaries of managers in domestic companies did increase in 2023. However, adjusted for inflation, they suffered slight losses. The average annual income of top managers increased nominally by 4.2 percent to 266,000 euros gross, and that of the second level by five percent to 163,700 euros. In real terms, this means a decrease of 3.3 and 2.6 percent respectively, as calculated by the Economic Forum of Managers (WdF) based on a survey. 528 managers were surveyed.

Net, top managers earned an average of 130,800 euros, while second-level managers earned 85,200 euros. “In our long-term observations, this represents the third significant cut for the first-level managers and thus one of the most noticeable reductions in income in the last 40 years. Managers are thus falling back to the purchasing power level of 2017,” said WdF Federal Chairman Andreas Zakostelsky in a press release. The managers were not only asked about their income, but also about benefits in kind: a quarter of top managers travel with the climate ticket, while at the lower level the figure is 14 percent.

43 percent of top managers receive a company pension plan, and at the second management level the figure is almost two thirds. The top managers stated that they work an average of 16 hours of overtime per week. 60 percent are responsible for additional locations. The managers said that the biggest challenge was finding employees. They were also concerned about the still high energy costs and inflation.