Home > Salary > Latvia > Managing Director
A Managing Director is a high-level executive responsible for overseeing the operations and strategic direction of a company. They are typically appointed by the board of directors and play a crucial role in setting organizational goals, implementing policies, and ensuring the overall success of the business. The Managing Director leads and manages a team of senior executives, providing guidance and support to achieve financial targets, operational efficiency, and market growth. They are also responsible for building and maintaining relationships with key stakeholders such as clients, investors, and government authorities. This position requires strong leadership skills, business acumen, and the ability to make critical decisions that impact the company's performance and reputation.
Estimated Yearly Salary: 64,798 EUR
Estimated Monthly Salary: 5,400 EUR
Estimated Weekly Salary: 1,246 EUR per week
Estimated Hourly Salary: 31 EUR per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 5,214 EUR
Estimated Weekly Salary: 1,203 EUR per week
Estimated Hourly Salary: 30 EUR per hour
Last revision of data: 2024-01-05
Estimated Yearly Salary: 64,997 USD
Estimated Monthly Salary: 5,416 USD
Estimated Weekly Salary: 1,250 USD per week
Estimated Hourly Salary: 31 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 64,798 EUR
Estimated Monthly Salary: 5,400 EUR
Estimated Weekly Salary: 1,246 EUR per week
Estimated Hourly Salary: 31 EUR per hour
By working as Managing Director a person can save up to 4,556 USD per month or 54,677 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Latvia, see costs of living in Latvia.
Estimated Yearly Salary for Managing Director
Last revision of data: 2025-01-04
Data as of 2025
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Managing Director salary in Latvia
Average Yearly Salary of Managing Director in Latvia is approximately 64,798 EUR (64,997 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Managing Director do?
A Managing Director is a high-level executive responsible for overseeing the operations and strategic direction of a company. They are typically appointed by the board of directors and play a crucial role in setting organizational goals, implementing policies, and ensuring the overall success of the business. The Managing Director leads and manages a team of senior executives, providing guidance and support to achieve financial targets, operational efficiency, and market growth. They are also responsible for building and maintaining relationships with key stakeholders such as clients, investors, and government authorities. This position requires strong leadership skills, business acumen, and the ability to make critical decisions that impact the company's performance and reputation.
Skills: Managing Director, Executive Leadership, Strategic Management, Operational Efficiency, Financial Targets, Stakeholder Relations
Job industry: Business
Job industry: Business
How much does Managing Director make?
Salary details
How much does Managing Director make?Estimated Yearly Salary: 64,798 EUR
Estimated Monthly Salary: 5,400 EUR
Estimated Weekly Salary: 1,246 EUR per week
Estimated Hourly Salary: 31 EUR per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 62,571 EUREstimated Monthly Salary: 5,214 EUR
Estimated Weekly Salary: 1,203 EUR per week
Estimated Hourly Salary: 30 EUR per hour
Last revision of data: 2024-01-05Managing Director estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 64,997 USD
Estimated Monthly Salary: 5,416 USD
Estimated Weekly Salary: 1,250 USD per week
Estimated Hourly Salary: 31 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
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Salary comparison to National average
Latvia is a country located in Northern Europe, bordered by Estonia to the north, Lithuania to the south, Russia to the east, and Belarus to the southeast. It has a population of approximately 1.9 million people and covers an area of about 64,589 square kilometers.
Estimated national average yearly salary is 19,565 EUR (21,500 USD). Value indicated is pre-tax. Below graph shows estimated Managing Director job salary compared to average salary in Latvia.
Comparison shows that a person working as Managing Director in Latvia earns on average:
3.31 times the average salary (or 331% of average salary).
Estimated national average yearly salary is 19,565 EUR (21,500 USD). Value indicated is pre-tax. Below graph shows estimated Managing Director job salary compared to average salary in Latvia.
Comparison shows that a person working as Managing Director in Latvia earns on average:
3.31 times the average salary (or 331% of average salary).
Is Managing Director a well paid job?
Yes, our data show that Managing Director is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.What is considered a high salary for Managing Director?
High salary for Managing Director would be somewhere between 71,278 EUR and 93,957 EUR. However this is an estimation based on Gaussian Distribution.How much can you save working as Managing Director in Latvia?
Living in Latvia the approximate monthly expenses are: 860 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 64,798 EUR
Estimated Monthly Salary: 5,400 EUR
Estimated Weekly Salary: 1,246 EUR per week
Estimated Hourly Salary: 31 EUR per hour
By working as Managing Director a person can save up to 4,556 USD per month or 54,677 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Latvia, see costs of living in Latvia.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Estonia, Russia, Belarus, Lithuania.. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Managing Director
Estonia is 83,149 USD
Russia is 38,610 USD
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in Latvia
(224,317 EUR per year, pre-tax.)
2. Cardiologist
(186,760 EUR per year, pre-tax.)
(179,947 EUR per year, pre-tax.)
4. Neurosurgeon
(174,646 EUR per year, pre-tax.)
(174,433 EUR per year, pre-tax.)
6. Urologist
(170,871 EUR per year, pre-tax.)
(170,733 EUR per year, pre-tax.)
(170,497 EUR per year, pre-tax.)
(169,948 EUR per year, pre-tax.)
(169,943 EUR per year, pre-tax.)
Data as of 2025Random salary:
Vp controller (55,072 EUR per year, pre-tax.)
Journeyman millwright (23,027 EUR per year, pre-tax.)
Golf startercoordinator (8,753 EUR per year, pre-tax.)
Assistant professor of psychology (26,600 EUR per year, pre-tax.)
Air crew member (18,514 EUR per year, pre-tax.)
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