Republic of Armenia. Compensation and Benefits Survey. General Industry DEMO VERSION. Salary Report. December 2017 People Advisory Services

Transcription

1 Republic of Armenia Compensation and Benefits Survey General Industry Salary Report 2017 December 2017 People Advisory Services

2 Republic of Armenia Compensation and Benefits Survey General Industry 2017 This survey is proprietary information for the use of the participants and purchasers only. It may not be passed on in whole or in part to third parties nor quoted nor disseminated in public in any way without the prior approval of EY. 2

3 Table of content How to use Compensation and Benefits Survey Report 4 Survey participants 10 Monthly Fixed Pay 12 Annual Fixed Pay and Annual Total Pay 19 Detailed information on each separate position 34 Contact information 36 3

4 How to use Compensation and Benefits Survey Report 4

5 How to use Compensation and Benefits Survey Report This section of the survey contains information on how the data was put together, what it represents, and how to use the report in the best and the most meaningful way possible. This section sets out the methodology used to prepare the report, defines key statistical terms, describes main elements of pay, and also gives several tips regarding easy access to various pieces of data. It is strongly recommended that persons unfamiliar with the usage of such reports read this section carefully before going into the survey report. Even those experienced in using such data could find this section a useful for getting the most out of the survey. Methodology of the survey Participants Survey was targeted at organizations of different industry sectors of Armenia (see the section "List of Participants"). survey. Survey covered individuals employed in Armenia. Expatriate packages were not covered by the Data Collection The questionnaire was provided to the participants in the electronic format. Traditionally it consists of four sections: Sections A & D covering general information about the company, Sections B covering HR policies and practices (including non-cash benefits policies), Section C covering remuneration for particular positions. While completing the Questionnaire (Section C), participants compared jobs in their companies to the standard jobs defined by EY for reporting purposes. In this process, called Job Matching, the Job Descriptions Manual has been used. The Job Descriptions Manual was compiled and developed in the electronic format. A simple job classification table was used to help in job matching process; jobs were matched on the basis of responsibilities, and not the job title itself. Clarifications were given by telephone in order to ensure that data was given for appropriate jobs. While the questionnaires were being filled in and data submitted, EY consultants could be contacted by participants via a "hotline" for consultations and explanations. The information and data received from each participating company was uploaded into the unified, protected database. Each incoming questionnaire was checked for accuracy and consistency. In case of any doubts, the consultants contacted participants for refinements and clarifications. Then the degree to which the information provided corresponded to job duties was examined. EY consultants evaluated the data acceptability by position, using a variety of indicators such as high and low salary levels, accountability of a job holder and other indicators casting doubt on the representative nature of the information for each group of participants. Any material variations were then checked with the participant for accuracy. The aggregated data was published in a format guaranteeing confidentiality and preventing data from being identified with specific companies. Timeframe Data on monthly base salaries was gathered as of June 30,

6 Data on variable pay received by jobholders was gathered for a 12-month period ending June 30, Data presentation Salary data was presented in an aggregated format, with the use of statistical measures: deciles quartiles median and average The survey includes data on the specific job only if information was provided by a minimum of three companies. We have restricted the use of certain statistical units (deciles and quartiles) if the sample for a specific job represents less than six employees. In addition to standard jobs, the report also provides information on job groups. Jobs with similar functions and tasks were included in groups (the level and experience of the jobs may differ). For example, the group FID110 «Accountants» includes such positions as: FID «Senior Accountant», FID «Accountant» and FID «Junior Accountant». The salary data was presented in the three sections: "Monthly Fixed Pay", "Annual Fixed Pay and Annual Total Pay", and "Detailed information on each separate position". Please note that statistics on monthly salary and annual total pay are calculated separately. Therefore, the amount of statistics on a monthly salary for 12 months, and the corresponding indicator of variable compensation, in general, is not the annual total pay of the position. The salary data has been rounded to the nearest thousand. 6

7 Structure of the Compensation Package The information was gathered for the two main elements of pay: Monthly Fixed Pay, including: Monthly base salary Allowances Guaranteed payments + Variable Pay, including: Annual performance-related bonus Quarterly and semi-annual bonuses 13th salary and other guaranteed payments Monthly payments and commission remuneration Other forms of variable pay Basic element of compensation package; paid on a monthly basis or more frequently, usually guaranteed to the employee by the employment agreement. Paid regularly (usually on a monthly basis), always in the same amount, in addition to the base salary; usually linked to the function or working conditions (e.g. allowance for harmful conditions). These allowances may be statutory or company-provided. Payments predefined in the amount or percentage of a basic salary and are paid to employees. Payments that are not connected to employee or company performance. This type of remuneration is typically paid monthly or at the end of the year. Bonus paid only if company / employee meet certain annual goals. May be determined as a percentage of basic salary or based on other approach. Bonus paid to the employee on a quarterly / semi-annual basis, if company / employee meets certain goals in the respective period. Guaranteed bonus paid to the employee in the end of the year Bonus based on the work results for month and / or after carrying out commercial operations / transactions, usually calculated as a percentage of the transaction amount. = Annual Total Pay Sum of all the elements paid to a certain jobholder in annual terms. This is the main information for benchmarking, as it describes the overall remuneration for the jobholder. In the final report we present information regarding total Monthly Fixed Pay, Total Annual Pay and each element of Variable Pay for each of the jobs. However, the most important information concerns: Monthly Fixed Pay Annual Total Pay Structure of the compensation package (Fixed / Variable) The survey also contains the proportion between the Fixed Pay and Variable Pay for each job. The average structure of the package shows how widespread are cash incentives within. the compensation package for each position. The average percentage of Variable Pay in the Annual Total Pay is calculated for each job. This figure is calculated by determining the percentage of variable pay for each jobholder and then taking the median of this data. 7

8 Definitions of Terms used in the Survey For each position, the number of employees reported by participants is presented. The higher the number, the more reliable are the results. Deciles For the purposes of statistical analysis, all the data is organized in an ascending order. Lower decile is the parameter that describes the first 10th percent of the sample. For example, if there were 100 employees on a Financial Analyst position and their salaries were organized in the ascending order, the 10th lowest salary would be the figure for the lower decile. Similarly, the upper decile describes the 90th percent point of the sample (in the above example - the 90th salary). Generally speaking, deciles "cut off" the lower and upper 10 percent of the sample, due this they describe the sample much better than the minimum and maximum that can sometimes be misleadingly extreme. Quartiles The abovementioned approach is used with the difference being that quartiles represent respectively 25th percent (first or lower quartile) and 75th percent (upper quartile) of the sample, i.e., 25th salary out of 100 and 75th salary out of 100. Quartiles are considered as a stable and valid measure, because they represent the middle 50 percent of the sample (i.e., 50 percent of the salaries are between first and third quartile). Median Median represents the salary of the middle employee in the sample (or the average of the two middle employees if the number of data points in the sample is even). It is used for the purposes of compensation analysis due to its stability. Median shows the value that is considered to be "the most representative" for the distribution. The one-number answer to the question "How much is HR Specialist paid?" would be the value of the median. Average Standard arithmetic average calculated as a sum of all the salaries divided by the number of. Average itself is not a good measure, because it is highly sensitive to the extreme minimum and maximum values. However, it is commonly used together with the median, because it serves properly as a "control parameter", and the comparison of both values gives additional information on the distribution of the sample. 8

9 Description of the code formation The scheme below shows an example of code generation, and also the compliance between the organizational structure and individual code fields is described. Warehouse worker LOG LOG Function (In example Logistics) subfunction to which the given position is matched (In example The Department of Warehousing as Logistics subfunction) Level of position (1-10) Where should I look if I want to know what lower decile really means? what the Monthly Fixed Pay of an HR Director is? what the annual fixed pay and annual total pay for a Senior Accountant are? how much I should pay to my Sales Representative? position in the given subfunction at the given level. For example, if subfunction at one level has three positions, the last digits of their codes will be, respectively, 10, 20 and 30 How to use Compensation and Benefits Survey Monthly Fixed Pay Annual Fixed Pay and Annual Total Pay Detailed information on each separate position 9

10 Survey participants 10

11 Survey participants 1. Abbott Pharma 2. American University of Armenia 3. Anelik Bank 4. Armenbrok Investment Company 5. Armenia Marriott Hotel 6. Arminfo news agency 7. Ayb Educational Foudation 8. Bayer MGF Group 9. Beeline Armenia 10. Best Western Congress Hotel 11. Central Depository of Armenia 12. Eurasia Partnership Foundation 13. FINCA UCO 14. GlaxoSmithKline Export Limited Armenian Representative 15. Hyatt Place Hotel Yerevan 16. NASDAQ OMX Armenia 17. Open Society Institute Foundation 18. Radisson Blu Hotel Yerevan 19. Ucom 20. Vivacell-MTS 21. VTB Bank (Armenia) 22. Yerevan Brandy Company 11

12 Monthly Fixed Pay 12

13 Monthly fixed pay Armenia Gross monthly fixed pay expressed in AMD, including allowances and "guaranteed" payments as of 30 June 2017 ADM Head of Administration Department (Administration Director) 4 ADM Office Manager 5 ADM Housekeeping Manager 9 ADM100 Translators / Interpreters 8 ADM Translator / Interpreter 6 ADM110 Assistants/ Receptionists 27 ADM Personal Assistant to General Director 6 ADM Executive Assistant / Secretary 5 ADM Department Assistant 10 ADM Receptionist 5 ADM Head of Record Management Unit 3 ADM Chief Specialist of Record Management Unit 4 ADM Documentation Coordinator 4 ADM Archivist 4 ADM Fleet Manager 4 ADM Traffic / Transportation Coordinator 6 ADM500 Drivers 25 ADM Car Driver 22 ADM Personal Driver 3 ADM Courier 5 ADM Facilities Engineer (office) 12 ADM600 Maintenance Technicians 13 ADM Sanitary Technician (office) 4 ADM Electrician (office) 8 ADM Cleaner 95, , , , , ,000 9 BDD Head of Business Development Department 3 BDD Business Development Manager 4 CAC Head of Call Center Division 3 CAC Call Center Supervisor 5 CAC100 Call Center Operators 12 CAC Senior Call Center Operator 6 CAC Call Center Operator 6 CAC Call Center Operator (Collection) 6 CAC110 Call Center Active Sales Specialists 10 CAC Chief Call Center Active Sales Specialist 6 CAC Call Center Active Sales Specialist 4 CLS Customer Service Manager 4 CLS200 Customer Service Specialists 12 CLS Chief Customer Service Specialist 5 CLS Customer Service Specialist 6 FID000 Finance Directors 8 FID Finance Director 7 FID Head of Financial Department 6 FID Chief Accountant 12 FID Deputy Chief Accountant 6 FID110 Accountants 41 FID Senior Accountant 9 FID Accountant 26 FID Junior Accountant 6 FID Cashier 6 FID120 Payroll Accountants 5 FID Payroll Accountant 3 13

14 Monthly fixed pay Armenia Gross monthly fixed pay expressed in AMD, including allowances and "guaranteed" payments as of 30 June 2017 FID Accounts Receivable Control Specialist 6 FID Finance Controllers 9 FID Chief Finance Controller 5 FID130 Finance Analysts / Economists 15 FID Chief Finance Analyst / Chief Economist 7 FID Finance Analyst / Economist 7 FID Head of Treasury 3 FID300 Treasury Specialists 8 FID Treasury Specialist 5 GEM General Director 5 GEM000 Deputy General Directors / Viсe-Presidents 4 GEM Division Manager 3 GEM Project Manager 7 HRD000 HR Directors 7 HRD HR Director 6 HRD Human Resources Manager 4 HRD200 Human Resources Generalists 4 HRD Human Resources Generalist 3 HRD Training and Development Manager 5 HRD300 Training and Development Specialists 14 HRD Chief Training and Development Specialist 6 HRD Leading Training and Development Specialist 6 HRD400 Compensation and Benefits Specialists 6 HRD Leading Compensation and Benefits Specialist 3 HRD500 Recruitment Specialists 9 HRD Chief Recruitment Specialist 6 HRD Recruitment Specialist 3 HRD HR Administration Manager 3 HRD600 HR Administration Specialists 12 HRD Chief HR Administration Specialist 4 HRD Leading HR Administration Specialist 4 HRD HR Administration Specialist 4 HRD900 Performance Appraisal Specialists 5 HSE100 Labor Safety Inspectors / Specialists 3 HSE Labor Safety Inspector / Specialist 3 HSE Nurse 3 IAT Chief Internal Auditor 3 ITD000 IT Directors / Chief Information Officers 7 ITD IT Director 6 ITD IT Manager 6 ITD001 IT Specialists 11 ITD Senior IT Specialist 6 ITD IT Specialist 5 ITD Database Administrator 6 ITD Desktop Support Manager 7 ITD300 Desktop Support Specialists 5 ITD Desktop Support Specialist 5 ITD Information Security Manager 3 ITD400 Information Security Specialists 8 ITD Information Security Specialist 5 ITD500 System Administrators 13 ITD Senior System Administrator 7 14

15 Monthly fixed pay Armenia Gross monthly fixed pay expressed in AMD, including allowances and "guaranteed" payments as of 30 June 2017 LEG000 Legal Department Directors 4 LEG Legal Department Director 3 LEG Head of Legal Division 4 LEG100 Lawyers 19 LEG Senior Lawyer 8 LEG Lawyer 7 LEG Junior Lawyer 4 LEG200 Claims and Litigation Lawyers 14 LEG Senior Claims and Litigation Lawyer 5 LEG Claims and Litigation Lawyer 5 LEG300 In-House Lawyers 8 LOG Warehouse Manager 4 LOG Warehouse Administrator 7 LOG300 Warehouse Workers 4 LOG Warehouse Worker 4 LSS Purchasing Manager / Head of Purchasing Unit 7 LSS200 Purchasing Specialists 22 LSS Chief Purchasing Specialist 4 LSS Leading Purchasing Specialist 5 LSS Purchasing Specialist / Buyer 12 MAR000 Marketing Directors 3 MAR100 Advertising Specialists 7 MAR Advertising Specialist 5 MAR Marketing Manager 5 MAR200 Marketing Specialists 16 MAR Chief Marketing Specialist 7 MAR Marketing Specialist 5 MAR Social Media Marketing (SMM) Specialist 3 MAR Designer 8 MAR Marketing Communications Manager / PR Manager 4 MAR Product / Brand Manager 6 MAR500 Product / Brand Specialists 3 MAR Product / Brand Specialist 3 PMD Project Management Office Head 6 PMD Project Manager 5 PMD000 Project Management Specialists 11 PMD Project Management Specialist 5 QUC Quality Assurance Manager 5 QUC Quality Assurance Specialist 6 SED Head of Economic Security Division 4 SED Security Manager 5 SED220 Security Guards 19 SED Senior Security Guard 6 SED Security Guard 13 SLS000 Sales Directors 4 SLS Sales Director 3 SLS Chief Sales Specialist (office) 7 15

16 Monthly fixed pay Yerevan Gross monthly fixed pay expressed in AMD, including allowances and "guaranteed" payments as of 30 June 2017 ADM Head of Administration Department (Administration Director) 4 ADM Office Manager 5 ADM Housekeeping Manager 7 ADM100 Translators / Interpreters 8 ADM Translator / Interpreter 6 ADM110 Assistants/ Receptionists 25 ADM Personal Assistant to General Director 6 ADM Executive Assistant / Secretary 5 ADM Department Assistant 8 ADM Receptionist 5 ADM Head of Record Management Unit 3 ADM Chief Specialist of Record Management Unit 4 ADM Documentation Coordinator 4 ADM Archivist 4 ADM Fleet Manager 4 ADM Traffic / Transportation Coordinator 6 ADM500 Drivers 17 ADM Car Driver 14 ADM Personal Driver 3 ADM Courier 5 ADM Facilities Engineer (office) 12 ADM600 Maintenance Technicians 13 ADM Sanitary Technician (office) 4 ADM Electrician (office) 8 ADM Cleaner 95, , , , , ,000 9 BDD Head of Business Development Department 3 BDD Business Development Manager 4 CAC Head of Call Center Division 3 CAC Call Center Supervisor 5 CAC100 Call Center Operators 12 CAC Senior Call Center Operator 6 CAC Call Center Operator 6 CAC Call Center Operator (Collection) 6 CAC110 Call Center Active Sales Specialists 10 CAC Chief Call Center Active Sales Specialist 6 CAC Call Center Active Sales Specialist 4 CLS Customer Service Manager 4 CLS200 Customer Service Specialists 11 CLS Chief Customer Service Specialist 5 CLS Customer Service Specialist 5 FID000 Finance Directors 8 FID Finance Director 7 FID Head of Financial Department 6 FID Chief Accountant 12 FID Deputy Chief Accountant 6 FID110 Accountants 31 FID Senior Accountant 9 FID Accountant 18 FID Junior Accountant 4 FID Cashier 6 FID120 Payroll Accountants 5 FID Payroll Accountant 3 16

17 Monthly fixed pay Yerevan Gross monthly fixed pay expressed in AMD, including allowances and "guaranteed" payments as of 30 June 2017 FID Accounts Receivable Control Specialist 6 FID Finance Controllers 9 FID Chief Finance Controller 5 FID130 Finance Analysts / Economists 15 FID Chief Finance Analyst / Chief Economist 7 FID Finance Analyst / Economist 7 FID Head of Treasury 3 FID300 Treasury Specialists 8 FID Treasury Specialist 5 GEM General Director 5 GEM000 Deputy General Directors / Viсe-Presidents 4 GEM Division Manager 3 GEM Project Manager 7 HRD000 HR Directors 7 HRD HR Director 6 HRD Human Resources Manager 4 HRD200 Human Resources Generalists 3 HRD Training and Development Manager 5 HRD300 Training and Development Specialists 14 HRD Chief Training and Development Specialist 6 HRD Leading Training and Development Specialist 6 HRD400 Compensation and Benefits Specialists 6 HRD Leading Compensation and Benefits Specialist 3 HRD500 Recruitment Specialists 9 HRD Chief Recruitment Specialist 6 HRD Recruitment Specialist 3 HRD HR Administration Manager 3 HRD600 HR Administration Specialists 10 HRD Chief HR Administration Specialist 4 HRD HR Administration Specialist 4 HRD900 Performance Appraisal Specialists 5 HSE100 Labor Safety Inspectors / Specialists 3 HSE Labor Safety Inspector / Specialist 3 HSE Nurse 3 IAT Chief Internal Auditor 3 ITD000 IT Directors / Chief Information Officers 7 ITD IT Director 6 ITD IT Manager 6 ITD001 IT Specialists 11 ITD Senior IT Specialist 6 ITD IT Specialist 5 ITD Database Administrator 6 ITD Desktop Support Manager 7 ITD300 Desktop Support Specialists 5 ITD Desktop Support Specialist 5 ITD Desktop Support Specialists 3 ITD400 Information Security Specialists 8 ITD Information Security Specialist 5 ITD500 System Administrators 13 ITD Senior System Administrator 7 LEG000 System Administrators 4 LEG Legal Department Director 3 17

18 Monthly fixed pay Yerevan Gross monthly fixed pay expressed in AMD, including allowances and "guaranteed" payments as of 30 June 2017 LEG Head of Legal Division 4 LEG100 Lawyers 19 LEG Senior Lawyer 8 LEG Lawyer 7 LEG Junior Lawyer 4 LEG200 Claims and Litigation Lawyers 14 LEG Senior Claims and Litigation Lawyer 5 LEG Claims and Litigation Lawyer 5 LEG300 In-House Lawyers 8 LOG Warehouse Manager 4 LOG Warehouse Administrator 4 LOG300 Warehouse Workers 4 LOG Warehouse Worker 4 LSS Purchasing Manager / Head of Purchasing Unit 7 LSS200 Purchasing Specialists 22 LSS Chief Purchasing Specialist 4 LSS Leading Purchasing Specialist 5 LSS Purchasing Specialist / Buyer 12 MAR000 Marketing Directors 3 MAR100 Advertising Specialists 7 MAR Advertising Specialist 5 MAR Marketing Manager 5 MAR200 Marketing Specialists 16 MAR Chief Marketing Specialist 7 MAR Marketing Specialist 5 MAR Social Media Marketing (SMM) Specialist 3 MAR Designer 8 MAR Marketing Communications Manager / PR Manager 4 MAR Product / Brand Manager 6 MAR500 Product / Brand Specialists 3 MAR Product / Brand Specialist 3 PMD Project Management Office Head 6 PMD Project Manager 5 PMD000 Project Management Specialists 11 PMD Project Management Specialist 5 QUC Quality Assurance Manager 5 QUC Quality Assurance Specialist 6 SED Head of Economic Security Division 4 SED Security Manager 5 SED220 Security Guards 17 SED Senior Security Guard 6 SED Security Guard 11 SLS000 Sales Directors 4 SLS Sales Director 3 SLS Chief Sales Specialist (office) 7 18

19 Annual Fixed Pay and Annual Total Pay 19

20 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Armenia ADM Head of Administration Department (Administration Director) 4 ADM Head of Administration Department (Administration Director) 4 ADM Office Manager 5 ADM Office Manager 5 ADM Housekeeping Manager 9 ADM Housekeeping Manager 9 ADM100 Translators / Interpreters 8 ADM100 Translators / Interpreters 8 ADM Translator / Interpreter 6 ADM Translator / Interpreter 6 ADM110 Assistants/ Receptionists 27 ADM110 Assistants/ Receptionists 27 ADM Personal Assistant to General Director 6 ADM Personal Assistant to General Director 6 ADM Executive Assistant / Secretary 5 ADM Executive Assistant / Secretary 5 ADM Department Assistant 10 ADM Department Assistant 10 ADM Receptionist 5 ADM Receptionist 5 ADM Head of Record Management Unit 3 ADM Head of Record Management Unit 3 ADM Chief Specialist of Record Management Unit 4 ADM Chief Specialist of Record Management Unit 4 ADM Documentation Coordinator 4 ADM Documentation Coordinator 4 ADM Archivist 4 ADM Archivist 4 ADM Fleet Manager 4 ADM Fleet Manager 4 ADM Traffic / Transportation Coordinator 6 ADM Traffic / Transportation Coordinator 6 ADM500 Drivers 25 ADM500 Drivers 25 ADM Car Driver 22 ADM Car Driver 22 ADM Personal Driver 3 ADM Personal Driver 3 ADM Courier 5 ADM Courier 5 ADM Facilities Engineer (office) 12 ADM Facilities Engineer (office) 12 ADM600 Maintenance Technicians 13 ADM600 Maintenance Technicians 13 ADM Sanitary Technician (office) 4 ADM Sanitary Technician (office) 4 ADM Electrician (office) 8 ADM Electrician (office) 8 ADM Cleaner 1,135,000 1,200,000 1,560,000 1,574,000 1,682,000 1,452,000 9 ADM Cleaner 1,177,000 1,200,000 1,560,000 1,646,000 2,036,000 1,536,

21 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Armenia BDD Head of Business Development Department 3 BDD Head of Business Development Department 3 BDD Business Development Manager 4 BDD Business Development Manager 4 CAC Head of Call Center Division 3 CAC Head of Call Center Division 3 CAC Call Center Supervisor 5 CAC Call Center Supervisor 5 CAC100 Call Center Operators 12 CAC100 Call Center Operators 12 CAC Senior Call Center Operator 6 CAC Senior Call Center Operator 6 CAC Call Center Operator 6 CAC Call Center Operator 6 CAC Call Center Operator (Collection) 6 CAC Call Center Operator (Collection) 6 CAC110 Call Center Active Sales Specialists 10 CAC110 Call Center Active Sales Specialists 10 CAC Chief Call Center Active Sales Specialist 6 CAC Chief Call Center Active Sales Specialist 6 CAC Call Center Active Sales Specialist 4 CAC Call Center Active Sales Specialist 4 CLS Customer Service Manager 4 CLS Customer Service Manager 4 CLS200 Customer Service Specialists 12 CLS200 Customer Service Specialists 12 CLS Chief Customer Service Specialist 5 CLS Chief Customer Service Specialist 5 CLS Customer Service Specialist 6 CLS Customer Service Specialist 6 FID000 Finance Directors 8 FID000 Finance Directors 8 FID Finance Director 7 FID Finance Director 7 FID Head of Financial Department 6 FID Head of Financial Department 6 FID Chief Accountant 12 FID Chief Accountant 12 FID Deputy Chief Accountant 6 FID Deputy Chief Accountant 6 FID110 Accountants 41 FID110 Accountants 41 FID Senior Accountant 9 FID Senior Accountant 9 FID Accountant 26 FID Accountant 26 FID Junior Accountant 6 FID Junior Accountant 6 FID Cashier 6 FID Cashier 6 21

22 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Armenia FID120 Payroll Accountants 5 FID120 Payroll Accountants 5 FID Payroll Accountant 3 FID Payroll Accountant 3 FID Accounts Receivable Control Specialist 6 FID Accounts Receivable Control Specialist 6 FID Finance Controllers 9 FID Finance Controllers 9 FID Chief Finance Controller 5 FID Chief Finance Controller 5 FID130 Finance Analysts / Economists 15 FID130 Finance Analysts / Economists 15 FID Chief Finance Analyst / Chief Economist 7 FID Chief Finance Analyst / Chief Economist 7 FID Finance Analyst / Economist 7 FID Finance Analyst / Economist 7 FID Head of Treasury 3 FID Head of Treasury 3 FID300 Treasury Specialists 8 FID300 Treasury Specialists 8 FID Treasury Specialist 5 FID Treasury Specialist 5 GEM General Director 5 GEM General Director 5 GEM000 Deputy General Directors / Viсe-Presidents 4 GEM000 Deputy General Directors / Viсe-Presidents 4 GEM Division Manager 3 GEM Division Manager 3 GEM Project Manager 7 GEM Project Manager 7 HRD000 HR Directors 7 HRD000 HR Directors 7 HRD HR Director 6 HRD HR Director 6 HRD Human Resources Manager 4 HRD Human Resources Manager 4 HRD200 Human Resources Generalists 4 HRD200 Human Resources Generalists 4 HRD Human Resources Generalist 3 HRD Human Resources Generalist 3 HRD Training and Development Manager 5 HRD Training and Development Manager 5 HRD300 Training and Development Specialists 14 HRD300 Training and Development Specialists 14 HRD Chief Training and Development Specialist 6 HRD Chief Training and Development Specialist 6 HRD Leading Training and Development Specialist 6 HRD Leading Training and Development Specialist 6 22

23 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Armenia HRD400 Compensation and Benefits Specialists 6 HRD400 Compensation and Benefits Specialists 6 HRD Leading Compensation and Benefits Specialist 3 HRD Leading Compensation and Benefits Specialist 3 HRD500 Recruitment Specialists 9 HRD500 Recruitment Specialists 9 HRD Chief Recruitment Specialist 6 HRD Chief Recruitment Specialist 6 HRD Recruitment Specialist 3 HRD Recruitment Specialist 3 HRD HR Administration Manager 3 HRD HR Administration Manager 3 HRD600 HR Administration Specialists 12 HRD600 HR Administration Specialists 12 HRD Chief HR Administration Specialist 4 HRD Chief HR Administration Specialist 4 HRD Leading HR Administration Specialist 4 HRD Leading HR Administration Specialist 4 HRD HR Administration Specialist 4 HRD HR Administration Specialist 4 HRD900 Performance Appraisal Specialists 5 HRD900 Performance Appraisal Specialists 5 HSE100 Labor Safety Inspectors / Specialists 3 HSE100 Labor Safety Inspectors / Specialists 3 HSE Labor Safety Inspector / Specialist 3 HSE Labor Safety Inspector / Specialist 3 HSE Nurse 3 HSE Nurse 3 IAT Chief Internal Auditor 3 IAT Chief Internal Auditor 3 ITD000 IT Directors / Chief Information Officers 7 ITD000 IT Directors / Chief Information Officers 7 ITD IT Director 6 ITD IT Director 6 ITD IT Manager 6 ITD IT Manager 6 ITD001 IT Specialists 11 ITD001 IT Specialists 11 ITD Senior IT Specialist 6 ITD Senior IT Specialist 6 ITD IT Specialist 5 ITD IT Specialist 5 ITD Database Administrator 6 ITD Database Administrator 6 ITD Desktop Support Manager 7 ITD Desktop Support Manager 7 ITD300 Desktop Support Specialists 5 ITD300 Desktop Support Specialists 5 ITD Desktop Support Specialist 5 ITD Desktop Support Specialist 5 23

24 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Armenia ITD Information Security Manager 3 ITD Information Security Manager 3 ITD400 Information Security Specialists 8 ITD400 Information Security Specialists 8 ITD Information Security Specialist 5 ITD Information Security Specialist 5 ITD500 System Administrators 13 ITD500 System Administrators 13 ITD Senior System Administrator 7 ITD Senior System Administrator 7 LEG000 Legal Department Directors 4 LEG000 Legal Department Directors 4 LEG Legal Department Director 3 LEG Legal Department Director 3 LEG Head of Legal Division 4 LEG Head of Legal Division 4 LEG100 Lawyers 19 LEG100 Lawyers 19 LEG Senior Lawyer 8 LEG Senior Lawyer 8 LEG Lawyer 7 LEG Lawyer 7 LEG Junior Lawyer 4 LEG Junior Lawyer 4 LEG200 Claims and Litigation Lawyers 14 LEG200 Claims and Litigation Lawyers 14 LEG Senior Claims and Litigation Lawyer 5 LEG Senior Claims and Litigation Lawyer 5 LEG Claims and Litigation Lawyer 5 LEG Claims and Litigation Lawyer 5 LEG300 In-House Lawyers 8 LEG300 In-House Lawyers 8 LOG Warehouse Manager 4 LOG Warehouse Manager 4 LOG Warehouse Administrator 7 LOG Warehouse Administrator 7 LOG300 Warehouse Workers 4 LOG300 Warehouse Workers 4 LOG Warehouse Worker 4 LOG Warehouse Worker 4 LSS Purchasing Manager / Head of Purchasing Unit 7 LSS Purchasing Manager / Head of Purchasing Unit 7 LSS200 Purchasing Specialists 22 LSS200 Purchasing Specialists 22 LSS Chief Purchasing Specialist 4 LSS Chief Purchasing Specialist 4 LSS Leading Purchasing Specialist 5 LSS Leading Purchasing Specialist 5 LSS Purchasing Specialist / Buyer 12 LSS Purchasing Specialist / Buyer 12 24

25 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Armenia MAR000 Marketing Directors 3 MAR000 Marketing Directors 3 MAR100 Advertising Specialists 7 MAR100 Advertising Specialists 7 MAR Advertising Specialist 5 MAR Advertising Specialist 5 MAR Marketing Manager 5 MAR Marketing Manager 5 MAR200 Marketing Specialists 16 MAR200 Marketing Specialists 16 MAR Chief Marketing Specialist 7 MAR Chief Marketing Specialist 7 MAR Marketing Specialist 5 MAR Marketing Specialist 5 MAR Social Media Marketing (SMM) Specialist 3 MAR Social Media Marketing (SMM) Specialist 3 MAR Designer 8 MAR Designer 8 MAR Marketing Communications Manager / PR Manager 4 MAR Marketing Communications Manager / PR Manager 4 MAR Product / Brand Manager 6 MAR Product / Brand Manager 6 MAR500 Product / Brand Specialists 3 MAR500 Product / Brand Specialists 3 MAR Product / Brand Specialist 3 MAR Product / Brand Specialist 3 PMD Project Management Office Head 6 PMD Project Management Office Head 6 PMD Project Manager 5 PMD Project Manager 5 PMD000 Project Management Specialists 11 PMD000 Project Management Specialists 11 PMD Project Management Specialist 5 PMD Project Management Specialist 5 QUC Quality Assurance Manager 5 QUC Quality Assurance Manager 5 QUC Quality Assurance Specialist 6 QUC Quality Assurance Specialist 6 SED Head of Economic Security Division 4 SED Head of Economic Security Division 4 SED Security Manager 5 SED Security Manager 5 SED220 Security Guards 19 SED220 Security Guards 19 SED Senior Security Guard 6 SED Senior Security Guard 6 SED Security Guard 13 SED Security Guard 13 25

26 Annual fixed pay and annual total pay Armenia Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 SLS000 Sales Directors 4 SLS000 Sales Directors 4 SLS Sales Director 3 SLS Sales Director 3 SLS Chief Sales Specialist (office) 7 SLS Chief Sales Specialist (office) 7 26

27 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Yerevan ADM Head of Administration Department (Administration Director) 4 ADM Head of Administration Department (Administration Director) 4 ADM Office Manager 5 ADM Office Manager 5 ADM Housekeeping Manager 7 ADM Housekeeping Manager 7 ADM100 Translators / Interpreters 8 ADM100 Translators / Interpreters 8 ADM Translator / Interpreter 6 ADM Translator / Interpreter 6 ADM110 Assistants/ Receptionists 25 ADM110 Assistants/ Receptionists 25 ADM Personal Assistant to General Director 6 ADM Personal Assistant to General Director 6 ADM Executive Assistant / Secretary 5 ADM Executive Assistant / Secretary 5 ADM Department Assistant 8 ADM Department Assistant 8 ADM Receptionist 5 ADM Receptionist 5 ADM Head of Record Management Unit 3 ADM Head of Record Management Unit 3 ADM Chief Specialist of Record Management Unit 4 ADM Chief Specialist of Record Management Unit 4 ADM Documentation Coordinator 4 ADM Documentation Coordinator 4 ADM Archivist 4 ADM Archivist 4 ADM Fleet Manager 4 ADM Fleet Manager 4 ADM Traffic / Transportation Coordinator 6 ADM Traffic / Transportation Coordinator 6 ADM500 Drivers 17 ADM500 Drivers 17 ADM Car Driver 14 ADM Car Driver 14 ADM Personal Driver 3 ADM Personal Driver 3 ADM Courier 5 ADM Courier 5 ADM Facilities Engineer (office) 12 ADM Facilities Engineer (office) 12 ADM600 Maintenance Technicians 13 ADM600 Maintenance Technicians 13 ADM Sanitary Technician (office) 4 ADM Sanitary Technician (office) 4 ADM Electrician (office) 8 ADM Electrician (office) 8 ADM Cleaner 1,135,000 1,200,000 1,560,000 1,574,000 1,682,000 1,452,000 9 ADM Cleaner 1,177,000 1,200,000 1,560,000 1,646,000 2,036,000 1,536,

28 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Yerevan BDD Head of Business Development Department 3 BDD Head of Business Development Department 3 BDD Business Development Manager 4 BDD Business Development Manager 4 CAC Head of Call Center Division 3 CAC Head of Call Center Division 3 CAC Call Center Supervisor 5 CAC Call Center Supervisor 5 CAC100 Call Center Operators 12 CAC100 Call Center Operators 12 CAC Senior Call Center Operator 6 CAC Senior Call Center Operator 6 CAC Call Center Operator 6 CAC Call Center Operator 6 CAC Call Center Operator (Collection) 6 CAC Call Center Operator (Collection) 6 CAC110 Call Center Active Sales Specialists 10 CAC110 Call Center Active Sales Specialists 10 CAC Chief Call Center Active Sales Specialist 6 CAC Chief Call Center Active Sales Specialist 6 CAC Call Center Active Sales Specialist 4 CAC Call Center Active Sales Specialist 4 CLS Customer Service Manager 4 CLS Customer Service Manager 4 CLS200 Customer Service Specialists 11 CLS200 Customer Service Specialists 11 CLS Chief Customer Service Specialist 5 CLS Chief Customer Service Specialist 5 CLS Customer Service Specialist 5 CLS Customer Service Specialist 5 FID000 Finance Directors 8 FID000 Finance Directors 8 FID Finance Director 7 FID Finance Director 7 FID Head of Financial Department 6 FID Head of Financial Department 6 FID Chief Accountant 12 FID Chief Accountant 12 FID Deputy Chief Accountant 6 FID Deputy Chief Accountant 6 FID110 Accountants 31 FID110 Accountants 31 FID Senior Accountant 9 FID Senior Accountant 9 FID Accountant 18 FID Accountant 18 FID Junior Accountant 4 FID Junior Accountant 4 FID Cashier 6 FID Cashier 6 28

29 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Yerevan FID120 Payroll Accountants 5 FID120 Payroll Accountants 5 FID Payroll Accountant 3 FID Payroll Accountant 3 FID Accounts Receivable Control Specialist 6 FID Accounts Receivable Control Specialist 6 FID Finance Controllers 9 FID Finance Controllers 9 FID Chief Finance Controller 5 FID Chief Finance Controller 5 FID130 Finance Analysts / Economists 15 FID130 Finance Analysts / Economists 15 FID Chief Finance Analyst / Chief Economist 7 FID Chief Finance Analyst / Chief Economist 7 FID Finance Analyst / Economist 7 FID Finance Analyst / Economist 7 FID Head of Treasury 3 FID Head of Treasury 3 FID300 Treasury Specialists 8 FID300 Treasury Specialists 8 FID Treasury Specialist 5 FID Treasury Specialist 5 GEM General Director 5 GEM General Director 5 GEM000 Deputy General Directors / Viсe-Presidents 4 GEM000 Deputy General Directors / Viсe-Presidents 4 GEM Division Manager 3 GEM Division Manager 3 GEM Project Manager 7 GEM Project Manager 7 HRD000 HR Directors 7 HRD000 HR Directors 7 HRD HR Director 6 HRD HR Director 6 HRD Human Resources Manager 4 HRD Human Resources Manager 4 HRD200 Human Resources Generalists 3 HRD200 Human Resources Generalists 3 HRD Training and Development Manager 5 HRD Training and Development Manager 5 HRD300 Training and Development Specialists 14 HRD300 Training and Development Specialists 14 HRD Chief Training and Development Specialist 6 HRD Chief Training and Development Specialist 6 HRD Leading Training and Development Specialist 6 HRD Leading Training and Development Specialist 6 29

30 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Yerevan HRD400 Compensation and Benefits Specialists 6 HRD400 Compensation and Benefits Specialists 6 HRD Leading Compensation and Benefits Specialist 3 HRD Leading Compensation and Benefits Specialist 3 HRD500 Recruitment Specialists 9 HRD500 Recruitment Specialists 9 HRD Chief Recruitment Specialist 6 HRD Chief Recruitment Specialist 6 HRD Recruitment Specialist 3 HRD Recruitment Specialist 3 HRD HR Administration Manager 3 HRD HR Administration Manager 3 HRD600 HR Administration Specialists 10 HRD600 HR Administration Specialists 10 HRD Chief HR Administration Specialist 4 HRD Chief HR Administration Specialist 4 HRD HR Administration Specialist 4 HRD HR Administration Specialist 4 HRD900 Performance Appraisal Specialists 5 HRD900 Performance Appraisal Specialists 5 HSE100 Labor Safety Inspectors / Specialists 3 HSE100 Labor Safety Inspectors / Specialists 3 HSE Labor Safety Inspector / Specialist 3 HSE Labor Safety Inspector / Specialist 3 HSE Nurse 3 HSE Nurse 3 IAT Chief Internal Auditor 3 IAT Chief Internal Auditor 3 ITD000 IT Directors / Chief Information Officers 7 ITD000 IT Directors / Chief Information Officers 7 ITD IT Director 6 ITD IT Director 6 ITD IT Manager 6 ITD IT Manager 6 ITD001 IT Specialists 11 ITD001 IT Specialists 11 ITD Senior IT Specialist 6 ITD Senior IT Specialist 6 ITD IT Specialist 5 ITD IT Specialist 5 ITD Database Administrator 6 ITD Database Administrator 6 ITD Desktop Support Manager 7 ITD Desktop Support Manager 7 ITD300 Desktop Support Specialists 5 ITD300 Desktop Support Specialists 5 ITD Desktop Support Specialist 5 ITD Desktop Support Specialist 5 30

31 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Yerevan ITD Information Security Manager 3 ITD Information Security Manager 3 ITD400 Information Security Specialists 8 ITD400 Information Security Specialists 8 ITD Information Security Specialist 5 ITD Information Security Specialist 5 ITD500 System Administrators 13 ITD500 System Administrators 13 ITD Senior System Administrator 7 ITD Senior System Administrator 7 LEG000 Legal Department Directors 4 LEG000 Legal Department Directors 4 LEG Legal Department Director 3 LEG Legal Department Director 3 LEG Head of Legal Division 4 LEG Head of Legal Division 4 LEG100 Lawyers 19 LEG100 Lawyers 19 LEG Senior Lawyer 8 LEG Senior Lawyer 8 LEG Lawyer 7 LEG Lawyer 7 LEG Junior Lawyer 4 LEG Junior Lawyer 4 LEG200 Claims and Litigation Lawyers 14 LEG200 Claims and Litigation Lawyers 14 LEG Senior Claims and Litigation Lawyer 5 LEG Senior Claims and Litigation Lawyer 5 LEG Claims and Litigation Lawyer 5 LEG Claims and Litigation Lawyer 5 LEG300 In-House Lawyers 8 LEG300 In-House Lawyers 8 LOG Warehouse Manager 4 LOG Warehouse Manager 4 LOG Warehouse Administrator 4 LOG Warehouse Administrator 4 LOG300 Warehouse Workers 4 LOG300 Warehouse Workers 4 LOG Warehouse Worker 4 LOG Warehouse Worker 4 LSS Purchasing Manager / Head of Purchasing Unit 7 LSS Purchasing Manager / Head of Purchasing Unit 7 LSS200 Purchasing Specialists 22 LSS200 Purchasing Specialists 22 LSS Chief Purchasing Specialist 4 LSS Chief Purchasing Specialist 4 LSS Leading Purchasing Specialist 5 LSS Leading Purchasing Specialist 5 LSS Purchasing Specialist / Buyer 12 LSS Purchasing Specialist / Buyer 12 31

32 Annual fixed pay and annual total pay Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 Yerevan MAR000 Marketing Directors 3 MAR000 Marketing Directors 3 MAR100 Advertising Specialists 7 MAR100 Advertising Specialists 7 MAR Advertising Specialist 5 MAR Advertising Specialist 5 MAR Marketing Manager 5 MAR Marketing Manager 5 MAR200 Marketing Specialists 16 MAR200 Marketing Specialists 16 MAR Chief Marketing Specialist 7 MAR Chief Marketing Specialist 7 MAR Marketing Specialist 5 MAR Marketing Specialist 5 MAR Social Media Marketing (SMM) Specialist 3 MAR Social Media Marketing (SMM) Specialist 3 MAR Designer 8 MAR Designer 8 MAR Marketing Communications Manager / PR Manager 4 MAR Marketing Communications Manager / PR Manager 4 MAR Product / Brand Manager 6 MAR Product / Brand Manager 6 MAR500 Product / Brand Specialists 3 MAR500 Product / Brand Specialists 3 MAR Product / Brand Specialist 3 MAR Product / Brand Specialist 3 PMD Project Management Office Head 6 PMD Project Management Office Head 6 PMD Project Manager 5 PMD Project Manager 5 PMD000 Project Management Specialists 11 PMD000 Project Management Specialists 11 PMD Project Management Specialist 5 PMD Project Management Specialist 5 QUC Quality Assurance Manager 5 QUC Quality Assurance Manager 5 QUC Quality Assurance Specialist 6 QUC Quality Assurance Specialist 6 SED Head of Economic Security Division 4 SED Head of Economic Security Division 4 SED Security Manager 5 SED Security Manager 5 SED220 Security Guards 17 SED220 Security Guards 17 SED Senior Security Guard 6 SED Senior Security Guard 6 SED Security Guard 11 SED Security Guard 11 32

33 Annual fixed pay and annual total pay Yerevan Gross annual fixed pay in AMD Gross annual total pay in AMD Information for the period: July June 2017 SLS000 Sales Directors 4 SLS000 Sales Directors 4 SLS Sales Director 3 SLS Sales Director 3 SLS Chief Sales Specialist (office) 7 SLS Chief Sales Specialist (office) 7 33

34 Detailed information on each separate position 34

35 Position title: Cleaner Code: ADM companies-participants: 8 1. Characteristics of companies-participants Sales volume (mln USD) % of companies-participants employees % of companies-participants < ,000 >1, % 12.5% 0.0% 0.0% 12.5% 0.0% 0.0% 0.0% 0.0% < ,000 1,000-2,000 2,000-5,000 >5, % 12.5% 37.5% 12.5% 12.5% 0.0% 0.0% 0.0% 2. Characteristics of the Level of professional qualification Foreign language skills are necessary for this position International experience 22.2% N/A Actual scope of responsibilities Slightly lower than in Job Description Manuals Exactly like in Job Description Manuals Slightly higher than in Job Description Manuals 3. Monthly fixed pay, Annual fixed pay and Annual total pay (AMD gross) Information on compensation is published only if data on position have been provided by not less than three companies-participants. Only those regions meeting the above requirement are presented below. 0.0% 88.9% 11.1% Lower decile First quartile Median Third quartile Upper decile Average Armenia Monthly fixed pay Annual fixed pay Annual total pay Yerevan Monthly fixed pay Annual fixed pay Annual total pay 4. Elements of monthly fixed pay (AMD gross per month) 95, , , , , , ,135,000 1,200,000 1,560,000 1,574,000 1,682,000 1,452, ,177,000 1,200,000 1,560,000 1,646,000 2,036,000 1,536, , , , , , , ,135,000 1,200,000 1,560,000 1,574,000 1,682,000 1,452, ,177,000 1,200,000 1,560,000 1,646,000 2,036,000 1,536,000 9 FROM (lower decile) Base salary 9 95, , , ,000 Company allowances Statutory allowances Amount of other monthly fixed payments N/A 5. Elements of annual variable pay (AMD gross per year) Annual performance-related bonus Quarterly and semi-annual bonuses N/A 13th salary and other guaranteed annual payments Monthly payments and commission remuneration Amount of other annual variable payments N/A 7. Corporate car Corporate car is used by FROM (lower decile) Median 0% of within position TO (upper decile) Average Average TOTAL VARIABLE PAY ,000 Median TO (upper decile) 6. Compensation structure Percentage of recevied variable pay within position 33.3% Compensation structure (median) among such companies: Annual fixed pay 94.5% Annual variable pay 5.5% 35