Budgetary council estimates 61 percent of Slovak employees received bonuses

The timing of bonuses being paid differs between the private and public sectors.

Illustrative stock photoIllustrative stock photo(Source: Sme)

While employers in Slovakia pay most bonuses at the end of the year, the private sector pays the highest bonuses in the period after tax returns are filed, and the public sector at the end of the year. This stems from a commentary drafted by the Budgetary Responsibility Council and published April 9.

“According to our estimate, 61 percent of all employees received bonuses in 2017,” The Council writes, as quoted by the SITA newswire. “If we take this into account and look only at the people and months when the bonuses were paid, we will find that the average level of bonuses for all 2017 was €530.”

In the private sector, higher bonuses are paid throughout the year, an average of €570, whereas in the public sector the average is €413.

Reason for the differences

“This may also be related to the fact that there are no professions that include sales in the public sector where the bonuses are part of the remuneration system,” the Budgetary Responsibility Council explained, according to SITA. “Most bonuses are paid at the end of the year, in both the private and public sectors. So employers reward their employees for their year’s effort, bonuses fulfilling a stimulating and motivating function.”

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Theme: Economics


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