Understanding market competitive salaries is crucial for both employers and employees in North Macedonia. It ensures fair compensation practices, attracts top talent, and motivates employees. Market competitive salaries represent the compensation package offered for a specific position that aligns with prevailing trends within the industry and geographic location.

Importance of Market Competitive Salaries

Offering market competitive salaries is important for several reasons:

• Attracting Top Talent: Competitive salaries make a company a more attractive employer in a competitive job market. This allows them to recruit and retain highly skilled and experienced individuals.
• Employee Satisfaction and Motivation: When employees feel they are being fairly compensated, it increases job satisfaction and motivation. This can lead to improved productivity and lower employee turnover.
• Fairness and Equity: Offering competitive salaries ensures fairness and equity within the organization's compensation structure.

Finding Market Competitive Salary Data

Several authoritative resources can help you find market competitive salary data in North Macedonia:

• Salary Surveys: Renowned consulting firms offer North Macedonia-specific salary surveys. These surveys provide detailed information on compensation for various positions across different industries and experience levels.
• Job Boards: Many online job boards in North Macedonia allow users to search for jobs by location, industry, and experience level. Salary ranges are often included in job postings, providing valuable insights into market trends.
• Salary Comparison Websites: Certain websites allow users to compare salaries for different positions across various industries and regions in North Macedonia.

In North Macedonia, a government-mandated minimum wage is applicable nationwide. The current minimum wage is MKD 20,175.00 per month, effective since March 1, 2023. This is a net amount, which means it's the amount the employee receives after taxes and social security contributions have been deducted.

Annual Review and Adjustment of Minimum Wage

The minimum wage is reviewed and adjusted annually. The Ministry of Labour and Social Policy, after consulting with the Economic and Social Council, determines the new minimum wage. The official announcement of the revised minimum wage is published in the Official Gazette of North Macedonia in March each year.

Employer Obligations

All employers in North Macedonia are legally obligated to pay their employees at least the minimum wage. Non-compliance with the minimum wage regulations can result in penalties imposed by the government.

Additional Considerations

There are no different minimum wage rates for various sectors or experience levels. The same minimum wage applies to all full-time employees regardless of their industry or experience. Collective bargaining agreements may set higher minimum wages for specific sectors or companies. However, the collectively agreed wage cannot be lower than the national minimum wage.

In North Macedonia, employers often offer additional incentives beyond the standard benefits package to attract and retain top talent. These bonuses and allowances are commonly found in the Macedonian workplace.

Mandatory Benefits

Mandatory benefits in North Macedonia include contributions towards the employee's retirement, public healthcare provided through the Health Insurance Fund, and paid time off. Employees receive paid annual leave (20-26 days), public holidays (11 days), sick leave, and parental leave (maternity leave: 9 months, paternity leave: 7 days).

Performance-Based Bonuses

Performance-based bonuses are also common. Some employers provide a 13th salary payment at year-end, with eligibility often based on exceeding a certain number of work hours and minimal absences. Additionally, employers may offer bonuses tied to individual or company performance metrics.

Supplemental Benefits

To differentiate themselves, companies may offer various perks to enhance the employee experience. Some employers provide supplemental health insurance plans for broader medical coverage. Financial assistance for employees pursuing further education, whether formal or non-formal, might also be offered.

In North Macedonia, the Labor Law dictates a monthly payroll cycle. This means employees are typically paid their salary once a month for the work performed during the previous month. The specific pay date often falls on the last business day of the month.

Frequency of Payment

In North Macedonia, employees are typically paid their salary once a month for the work performed during the previous month. The specific pay date often falls on the last business day of the month.

Statutory and Additional Payments

There are two key points to consider regarding statutory and additional payments in North Macedonia:

• Social Security Contributions: Unlike some countries, social security contributions in Macedonia are fully borne by the employee. The employer is only responsible for deducting these contributions from the employee's salary before payout.
• 13th Month Salary: An interesting custom in Macedonia is the 13th-month salary, which is essentially a year-end bonus. Eligible employees who meet specific criteria (working over 150 overtime hours and missing less than 21 workdays) receive an additional salary payment on top of their regular salary at year-end.