Salary Guide
Electric Power Development Salaries in Montenegro: Complete Compensation Analysis
Considering a career at Electric Power Development in Montenegro? Our comprehensive salary guide provides accurate compensation data across various roles, experience levels, and departments to help you negotiate with confidence and understand your market value. Interview coming up? Check out Job Bridge for real time AI assistance.
Key Salary Insights for Electric Power Development
Average Base Salary
$25,000
Across all positions in Montenegro
Salary Range
$18,000 - $35,000
From entry-level to executive positions
Industry Comparison
5% Below
Compared to industry average in Montenegro
Total Compensation
+12%
Average bonus, stock options, and benefits
Location Factor: Montenegro
Working at Electric Power Development in Montenegro comes with specific geographical considerations:
- Cost of living index: 95 (U.S. average = 100)
- Average housing cost: $500/month for 1-bedroom apartment
- State income tax rate: 9%
- Regional salary adjustment factor: 0% same than national average
- Remote work opportunities: Not Available
Salary Negotiation Tips for Electric Power Development
Based on our research and feedback from successful candidates, here are effective negotiation strategies specific to Electric Power Development:
- Highlight power systems engineering that commands premium compensation
- Research indicates Electric Power Development typically has 5% flexibility on initial offers
- Negotiating for additional vacation days may be more successful than base salary increases
- Emphasize project completion on time and within budget that aligns with company values
- Consider during peak season which has proven effective
Recent Compensation Trends at Electric Power Development
Our analysis shows the following significant trends in Electric Power Development's compensation strategy over the past year:
- 8% increase in starting salaries for Project Manager positions
- New emphasis on health insurance as part of compensation packages
- Shift towards performance-based bonuses
- Increased investment in competitive salaries
- annual salary adjustments to remain competitive in Montenegro
Employee Testimonials
"After 5 years at Electric Power Development in Montenegro, I've seen my compensation grow by approximately 8% annually. The company values problem-solving and rewards it consistently through merit-based promotions."
- Anonymous, Senior Engineer
"The total compensation at Electric Power Development is competitive, but what really stands out is paid vacation. This has added significant value to my overall package, worth approximately $20 days annually."
- Anonymous, Operations Manager
Salary Comparison with Competitors
| Company | Avg. Base Salary | Bonus | Equity | Total |
|---|---|---|---|---|
| Electric Power Development | $25,000 | 7% | 1% | $27,000 |
| CGES | $23,000 | 5% | 0% | $24,000 |
| EPCG | $24,000 | 6% | 0.5% | $25,500 |
| Crnogorski Telekom | $22,000 | 4% | 0% | $23,000 |
Educational Impact on Salary
Your educational background can significantly influence your earning potential at Electric Power Development. Here's how education typically impacts salaries:
Advanced Degree (Ph.D., MBA)
+10% premium
Most valued in: Management, Engineering
Master's Degree
+5% premium
Most valued in: Finance, IT
Bachelor's Degree
Base level
Standard requirement for most positions
Industry Certifications
+2% per certification
Most valued: PMP, Six Sigma
Promotion and Raise Cycles
Understanding Electric Power Development's promotion and raise cycles can help you time your career moves strategically:
- Annual performance reviews typically conducted in December
- Average annual salary increase: 4% for meeting expectations, 7% for exceeding
- Promotion eligibility typically requires 3 years in current role
- Average salary bump with promotion: 5-10%
- Bonus determinations made in November, paid in January
- Off-cycle raises most common in exceptional performance
Methodology & Data Sources
Our salary data has been meticulously compiled and verified through multiple sources:
- 150 verified salary reports from current and former employees (collected January 2023 - September 2024)
- Analysis of 50 job postings from Electric Power Development in Montenegro (collected January 2023 - September 2024)
- Interviews with 5 recruiters specializing in Electric Power Development placements
- Data from Monstat for Montenegro
- Industry compensation surveys from Indeed, LinkedIn Salary, and Glassdoor
- Proprietary JobBridge salary database with 1,000 data points
This data is accurate as of October 2024 and represents a comprehensive view of Electric Power Development's compensation structure in Montenegro.
Frequently Asked Questions
About This Salary Data
Our Electric Power Development salary data has been meticulously compiled from multiple reliable sources, including:
- 150 verified salary reports from current and former employees
- Data from job postings across major job boards
- Information from professional recruiters specializing in Electric Power Development placements
- Industry salary surveys and governmental labor statistics
- Anonymous compensation details shared through our proprietary network
This data was last updated on October 25, 2024, making it one of the most current and accurate salary resources available for Electric Power Development in Montenegro.
Salary by Department
| Department | Entry Level | Mid Level | Senior Level |
|---|---|---|---|
| Engineering | $18,000 | $22,000 | $28,000 |
| Operations | $19,000 | $23,000 | $29,000 |
| Management | $22,000 | $27,000 | $35,000 |
| Finance | $20,000 | $24,000 | $30,000 |
| Human Resources | $19,500 | $23,500 | $29,500 |
| IT | $21,000 | $25,000 | $31,000 |
Top-Paying Roles at Electric Power Development
Based on our research, these are the highest-paying positions at Electric Power Development in Montenegro:
1. CEO
$35,000
Typical requirements: 15+ years experience in energy sector, proven leadership
2. CFO
$32,000
Typical requirements: 10+ years experience in finance, strong financial management skills
3. Project Manager
$28,000
Typical requirements: 8+ years experience in project management, PMP certification
4. Senior Engineer
$27,000
Typical requirements: 10+ years experience in engineering, expertise in power systems
5. IT Manager
$26,000
Typical requirements: 7+ years experience in IT management, strong technical skills
How Electric Power Development Salaries Compare to Market
Total Compensation Analysis
At Electric Power Development, base salary is just one component of the total compensation package. Here's what you can expect in terms of additional benefits and compensation:
Bonuses
5-10%
Annual performance bonus (% of base salary)
Equity
0-2%
Stock options/RSUs (% of annual compensation)
401(k) Match
Up to 3%
Employer match for retirement contributions
Healthcare Value
$1,000/year
Estimated value of medical, dental, vision coverage
Additional benefits at Electric Power Development include:
Salary by Experience Level
Years of experience significantly impact your earning potential at Electric Power Development. Here's how salaries typically progress based on experience:
Salary Progression by Years of Experience
Compensation Research Team
JobBridge Salary Experts
Last updated: October 26, 2024 • Data accuracy verified by our research team