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This is what managers in medium-sized companies earn

The salary that a GmbH managing director receives depends on numerous things. Of course, from the company's success and negotiating skills. A current study also shows five other factors that can increase or decrease the boss's remuneration.

Managing directors of a GmbH are on average 52 years old, work 48 hours a week - and receive a salary of around 130,000 euros. That is the result of a survey by BBE Media, Handelsblatt and the German Association of Tax Advisors among around 3000 mostly medium-sized managers and entrepreneurs. In addition to this fixed salary, there are usually bonuses, pension commitments and a company car as well as variable salary components. All in all, the study puts the total annual remuneration of an average GmbH managing director in Germany at around 171,000 euros - with deviations upwards and downwards. But what does the salary depend on? We have selected five important aspects:

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1. The industry

Industrial companies pay their managing directors above average. In sectors such as the electrical and pharmaceuticals industry as well as mechanical engineering, the total annual salaries are on average around 190,000 euros per year - around 60,000 euros more than in the handicrafts, the branch of the economy with the lowest average salary.

2. The size of the company

Another important factor is company size. The study found: Annual payments tend to increase with sales. While managing directors in a GmbH with annual sales of up to one million euros can expect annual remuneration of around 106,000 euros, the salary of those surveyed, whose companies recorded sales of over 25 million euros, was significantly higher: on average around 277,000 euros. The differences in wages can also be determined by the number of employees. According to the study, managing directors earned an average of around 116,000 euros in companies with up to 10 employees in 2018, and around 202,000 euros for over 250 employees.

3. Degree of training

What training a manager has enjoyed also plays a role. The study shows that entrepreneurs with a university degree earn more than those with a journeyman or master craftsman's certificate. The highest total annual remuneration, with an average of around 173,000 euros, is therefore paid to those who have obtained a doctorate: around 45,000 euros more than their colleagues with a secondary school diploma (average 128,000 euros).

4. Age and experience

In addition, the total annual remuneration increases with age and with growing management experience: Managing directors who are younger than 36 years earn an average of around 100,000 euros; older colleagues have an average salary of around 150,000 euros. After 5 years of activity, the salaries made a leap forward on average: by around 30,000 euros.

5. The sex

Not only are there still few women in the executive chairs of the republic, they also earn less. According to the study, the difference is around 15 percent on average, with increasing salary classes and company sales, the gap becomes larger and larger. The highest salary reported in the study was that of a man - it was roughly double the maximum for women.

The figures come from the study "GmbH-Managing Director Remuneration 2019", which is not representative from a scientific point of view. Almost 3,000 respondents, mainly from medium-sized companies, ensure that the figures are relatively valid.