The FINANCIAL — Financial Manager, Plastic surgeon, and Senior Officials in Public Services are named the highest paid professions in Georgia according to key company HRs interviewed by The FINANCIAL.
The FINANCIAL — Financial Manager, Plastic surgeon, and Senior Officials in Public Services are named the highest paid professions in Georgia according to key company HRs interviewed by The FINANCIAL.
“Professions and careers are nowadays gauged by the salary a person draws. Financial managers are one of the highest paid employees in a company. This post may also be one of the most famous posts in any company and in general too,” said Nino Kurtanidze, HR Specialist at JSC Nikora.
“Financial managers are one of the highest paid posts in a company. They can make from 500 GEL to 800 GEL per month. This range is determined by many factors that include the city of employment, educational qualifications, the industry of employment and several related fields, which also involve being multi-skilled and also taking up the role of financial advisor, which will naturally earn one more money. These pointers will determine how much a financial manager will make when they start out at the job and how their career prospects will shape up as they put in years of service,” Kurtanidze added.
At MyCareer.Ge from 3,487 registered students, by majors approximately 1/3 – 1,095 students have Finance as their major profession. Followed by Management – 893, Marketing – 614, Law – 392, Public Administration – 362, Accounting and Audit – 207, journalism – 148, and International Business – 138 students.
Financial managers in different companies have different salaries according to the size and industry of the entity they work for. The average income of a financial analyst working at a bank in Georgia is on average 1,500 GEL plus bonuses per month. Chief Financial Officer gets twice or three times that.
“The highest paid professions in Georgia are probably financial manager, in the bank sector – top management representatives, in public services – senior officials, some journalists and doctors,” declared Nino Kiladze, HR Manager at Adress.
“One’s salary depends on the company or Public Service Institution. For doctors, plastic surgeons are usually most highly paid,” Kiladze added.
The average income of top management in the hospitality field is 3,000 USD per month. While mid level managers’ remuneration is on average 1,500 GEL monthly.
As Davit Kipiani, HR Manager of Marriott Hotels Tbilisi declares, the highest paid position is that of CEO and the range of salary can be very different.
Key company CEOs in Georgia have a minimum wage of 5,000 USD per month and a maximum amount exceeding tens of thousands.
“In general the salary difference between office workers and top management is 20-40%. Unfortunately there is a lack of a high professional workforce that will suit the skills and experience required for the given position. In some cases it is assumed that their wages are possible to be not so different from top managers’,” declared Kurtanidze.
As Kipiani says, the percentage difference in the salaries between levels of employed people can vary from 10% to 500% or even more. However it is quite hard to define.
“The least paid office professions in Georgia are probably office managers, transport managers and supplier managers. The range of salary also depends on the company. However, at international companies, and companies with foreign investors, their salaries are not so low,” declared Kiladze.
As Kurtanidze declares, office cleaner is one of the least paid employees in a company. Their monthly salary range is usually from 90 GEL to 350 GEL.
“It’s very hard to say anything about the least paid jobs, as they might vary greatly from industries to self employment,” declared Kipiani.
“In terms of success, it’s better to run one’s own business of course, although the risks are high as you are responsible for both success and failure,” Kipiani added.
Kiladze says that it’s more profitable to run your own business but it depends on the business and the individual’s work of course. But in this case a person has more responsibility on his head and has to take more risks.
“Running your own business has several advantages: you are in control, directing your business your way. You can create your own working environment. You are the boss, there’s less stress (that is, once you’re set up and in control). You can manage your time better to suit your personal life. You have no real limit to how successful you’ll be,” declared Kurtanidze.
“Moreover, you have no limit on the amount of income you earn. You can operate a business the way you want. You can hire people to take care of the tasks that are tedious or that need to be done but that you don’t like doing. It’s prestigious to own a successful business. You gain business knowledge and experience that you can use for the rest of your life. You have more freedom and you have the ability to contribute and create financial gain, and have flexible hours (in some cases),” Kurtanidze added.
However, according to Kurtanidze running your own business has several disadvantages.
“If there is a problem, it falls on you as there’s no one to blame but yourself, it’s your business and it’s you at the controls,” said Kurtanidze.
Start-up phases take time to complete. You may not get paid for long and uneven periods of time and you may have to put in a lot of extra hours. There is pressure to perform as if you do not, you could be out of business quickly. Usually a substantial investment of time and money is required. You don’t get paid directly for the extra-long hours you put in. And you must be able to adapt to change quickly,” declared Kurtanidze.
“At times, there is uncertainty. You cannot just put in your eight hours and go home if there’s a problem or important unfinished business, and then it’s your job to attend to it. There is increased responsibility and liabilities. There are no guarantees that your business will succeed. You may feel isolated or alone when you’re running the business. It may be tough to get motivated at times. If you set up the business incorrectly, you could end up with a 16-hour-day job rather than a business that runs itself,” Kurtanidze added.
“Dentists and most doctors, financial managers, marketing specialists, office managers, and accountants are the most stable professions.
I do not think that the trend has changed dramatically since the crisis. In the crisis period a staff reduction was mostly dependent on staff members’ experience and knowledge,” declared Kiladze.
“The most stable profession is accountant. No matter whether the company is big or small this profession is more demanded than other ones. Market value was lowered in all professions because of the crisis,” Kurtanidze said.
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