Managerial salaries rose by 3.6 per cent on average last year, according to the annual salary survey conducted by the Irish Management Institute (IMI). During the same period the rate of inflation was 1.4 per cent, says the survey, which questioned more than 6,000 managers.

For this year, companies in general expect to increase salaries by between 3 per cent and 5 per cent, according to the survey.

The survey was compiled from the replies of 138 companies, who employ more than 6,000 managers, according to the IMI.

The largest increase in salary last year was for chief executives in companies with turnover in excess of £150 million. Salaries in this range have increased from an average of £103,928 to £125,082. The highest salary level for a chief executive is £160,475 in companies of this size.

In comparison, chief executives in companies with a turnover below £10 million will earn an average salary of £57,000. Last year companies of the same size were paying their chief executives £50,000.

In companies with a turnover of between £60 million and £150 million, the salary level for chief executives actually fell from £126,000 to £99,596, although this is partly explained by companies moving out of that turnover category since last year, says the survey.

Middle managers experienced more modest increases in their salaries. In companies with a turnover between £20 million and £60 million, middle managers saw their salaries increase from £30,000 to £32,450.

There was a decrease in salary for middle managers in companies with a turnover over £150 million, where they fell from £39,900 to £35,000.

The highest rate of chief executive pay was in the food, beverages and tobacco sectors, where the size of the companies is relatively large.

Despite the demand for employees in the computer and software industries, salary levels for chief executives in that sector are in the lower half of the survey.

Whereas chief executives in healthcare and pharmaceuticals are paid £89,150, chief executives in the computer industry earn £71,800.

A separate survey by Sales Placement on salaries in the healthcare supply sector shows the basic salary for a sales manager in the pharmaceuticals is £50,000.

The average salary for a GP's representative is £21,421. The highest pay package for a medical equipment sales representative was £44,000.