Average Electrical Engineering Manager Salary in Montenegro for 2024

In this article, we will look at the average Electrical Engineering Manager salary for 2024 in Montenegro and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol โ‚ฌ.

How Much Does an Electrical Engineering Manager Make in Montenegro?

An Electrical Engineering Manager working in Montenegro will typically earn around 42,460 EUR per year, and this can range from the lowest average salary of about 19,360 EUR to the highest average salary of 64,920 EUR.

Average Annual Salary
42,460 EUR
Average Monthly Salary
3,538 EUR

Lowest Annual Salary
19,360 EUR
Lowest Monthly Salary
1,613 EUR

Highest Annual Salary
64,920 EUR
Highest Monthly Salary
5,410 EUR

These are average salaries for an Electrical Engineering Manager in Montenegro and include benefits such as housing and transport. It's also possible for an Electrical Engineering Manager to earn more or less than the average salaries shown above.

Electrical Engineering Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Electrical Engineering Manager Salaries in Montenegro

So we've looked at the average salaries an Electrical Engineering Manager will earn in Montenegro. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Electrical Engineering Manager can earn between 19,360 EUR and 64,920 EUR on average in Montenegro. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Electrical Engineering Manager in Montenegro is 44,720 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 44,720 EUR, and 50% of the population earn more than 44,720 EUR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Electrical Engineering Manager salary in Montenegro, 25% of the population are earning less than 26,860 EUR while 75% of the population earn more than 26,860 EUR.

75% of the population earn less than 58,000 EUR, and 25% of the population earn more than 58,000 EUR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Electrical Engineering Manager Salary by Experience Level in Montenegro

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average electrical engineering manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An Electrical Engineering Manager in Montenegro that has less than two years of experience can expect to earn somewhere in the region of 19,980 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Electrical Engineering Manager salary would increase to 28,900 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as an Electrical Engineering Manager, the average salary would be 44,180 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 51,340 EUR.
  • 15 - 20 Years Experience. An Electrical Engineering Manager with 15 to 20 years of experience can earn an average of 58,200 EUR.
  • 20+ Years Experience. For an Electrical Engineering Manager with more than 20 years, the expected average salary increases to 60,880 EUR.

Average Salary by Experience Chart

0-2 Years
19,980 EUR
2-5 Years +34%
28,900 EUR
5-10 Years +48%
44,180 EUR
10-15 Years +22%
51,340 EUR
15-20 Years +9%
58,200 EUR
20+ Years +8%
60,880 EUR

Electrical Engineering Manager Salary by Education Level in Montenegro

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Electrical Engineering Manager in Montenegro based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Electrical Engineering Manager in Montenegro with a bachelor's degree education can earn an average salary of 25,680 EUR.

  • Master's Degree. An Electrical Engineering Manager in Montenegro with a master's degree education can earn an average salary of 49,360 EUR.

Average Salary by Education Chart

Bachelor's Degree
25,680 EUR
Master's Degree +93%
49,360 EUR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Montenegro is around 13,400 to 40,100 EUR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Electrical Engineering Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Montenegro, a male electrical engineering manager will earn an average of 43,260 EUR, while a female electrical engineering manager will earn around 37,880 EUR.

This means that a male electrical engineering manager earns approximately 14% more than a female electrical engineering manager for performing the same job.

Average Salary by Gender Chart in Montenegro

Male
43,260 EUR
Female -14%
37,880 EUR

Electrical Engineering Manager Average Pay Raise in Montenegro

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Electrical Engineering Manager in Montenegro is around 7% every 32 months.

The national average pay raise across all professions and industries in Montenegro is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 7 ÷ 32 ) × 12  = 3%

What this means is that an Electrical Engineering Manager in Montenegro can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Montenegro for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Montenegro.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Electrical Engineering Manager Bonus and Incentive Rates in Montenegro

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Electrical Engineering Manager is a moderate bonus based job, with 67% of employees reporting at least one bonus in the last 12 months.

33% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.

Received Bonus
67%
No Bonus
33%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Montenegro earn approximately 32% more than private sector employees in the same role.

Public Sector
35,340 EUR
Private Sector -32%
26,860 EUR

Salaries for Jobs Similar to an Electrical Engineering Manager

In the table below, we have salary information for jobs that are similar to an Electrical Engineering Manager in Montenegro.

Job Title Category Salary
Cable Installer and Locator Electrical and Electronics Trades 9,440 EUR
Cable Technician Electrical and Electronics Trades 10,380 EUR
Digital Design Engineer Electrical and Electronics Trades 31,380 EUR
Electrical Designer Electrical and Electronics Trades 27,020 EUR
Electrical Drafter Electrical and Electronics Trades 12,000 EUR
Electrical Maintenance Manager Electrical and Electronics Trades 38,340 EUR
Electrical Planner Electrical and Electronics Trades 22,420 EUR
Electrical Sales Engineer Electrical and Electronics Trades 28,860 EUR
Electrical Sales Representative Electrical and Electronics Trades 21,540 EUR
Electrical Service Technician Electrical and Electronics Trades 9,460 EUR
Electrical Technician Electrical and Electronics Trades 14,140 EUR
Electrical Worker Electrical and Electronics Trades 10,220 EUR
Electrician Electrical and Electronics Trades 14,140 EUR
Electromechanical Technician Electrical and Electronics Trades 14,540 EUR
Electronic Assembler Electrical and Electronics Trades 12,620 EUR
Electronic Drafter Electrical and Electronics Trades 11,040 EUR
Electronic Engineer Electrical and Electronics Trades 28,860 EUR
Electronic Service Engineer Electrical and Electronics Trades 29,600 EUR
Electronics Engineer Electrical and Electronics Trades 30,800 EUR
Electronics Instructor Electrical and Electronics Trades 27,480 EUR
Electronics Technician Electrical and Electronics Trades 14,660 EUR
Field Service Engineer Electrical and Electronics Trades 31,180 EUR
Field Service Technician Electrical and Electronics Trades 10,000 EUR
Hydroelectric Plant Technician Electrical and Electronics Trades 12,240 EUR
Hydroelectric Production Manager Electrical and Electronics Trades 36,700 EUR
Instrumentation Technician Electrical and Electronics Trades 13,660 EUR
Journeyman Electrician Electrical and Electronics Trades 12,240 EUR
Maintenance Electrician Electrical and Electronics Trades 9,980 EUR
Mechatronics Technician Electrical and Electronics Trades 17,620 EUR
Power Equipment Mechanic Electrical and Electronics Trades 12,840 EUR
Power Line Technician Electrical and Electronics Trades 9,980 EUR
Refrigeration and Airconditioning Mechanic Electrical and Electronics Trades 14,540 EUR
Security Service Engineer Electrical and Electronics Trades 29,320 EUR
Technical Manager Electrical and Electronics Trades 40,040 EUR
Turbine Fitter Electrical and Electronics Trades 7,080 EUR
Warehouse Attendant Electrical and Electronics Trades 8,780 EUR
Warehouse Manager Electrical and Electronics Trades 40,420 EUR
Watch Repairer Electrical and Electronics Trades 12,760 EUR

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