Greece

Determining a competitive salary in Greece requires understanding a combination of factors. The average salary in Greece sits around €15,335 annually, which is lower compared to neighboring European countries. However, this figure encompasses various employment levels and industries. It's crucial to consider these factors for a more accurate picture.

Understanding the Landscape

• Industry: Salaries can vary significantly between industries. Sectors like finance, engineering, and technology typically offer higher salaries than hospitality or retail.
• Experience and Skills: Employees with specialized skills and experience can expect to command higher salaries within their respective fields.
• Location: Geographic location can also play a role. Salaries tend to be higher in major cities like Athens and Thessaloniki compared to rural areas.
• Company Size: Multinational corporations or larger companies often offer more competitive salaries and benefits packages compared to smaller businesses.

Researching Market Rates

Several resources can help you determine a competitive salary for a specific position in Greece:

• Salary Surveys: Reputable online platforms offer salary data based on job titles, locations, and experience levels.
• Job Postings: Analyze similar job postings to understand the salary ranges offered by competitors.
• Industry Associations: Industry-specific associations may publish salary benchmarks for their members.
• Recruitment Agencies: Consulting with recruitment agencies specializing in your industry can provide valuable insights into current market rates for specific skillsets.

Beyond Base Salary

Remember, competitive compensation goes beyond just the base salary. Consider these additional factors:

• Benefits Package: Health insurance, paid time off, pension contributions, and other benefits can significantly impact a candidate's decision.
• Training and Development Opportunities: Companies offering comprehensive training programs and career development paths can attract top talent.

In Greece, the minimum wage is established through government legislation.

Minimum Wage Levels

The national minimum wage in Greece, as of April 1, 2024, is set at €780 per month before tax. This was established under Article 103 of Law 4172/2013. In addition to the monthly wage, there is a provision for a daily minimum wage, particularly applicable to blue-collar professions. The current daily minimum wage is €34.84.

Application and Exemptions

The minimum wage applies to all full-time private-sector employees with a formal employment contract, regardless of age or type of work. However, there are limited exemptions for certain categories like seasonal workers or trainees undergoing apprenticeships, who may have different minimum wage regulations defined in separate legislative measures.

Regulatory Body and Enforcement

The Ministry of Labour and Social Affairs is responsible for setting and reviewing the minimum wage through ministerial decisions. These decisions are made in consultation with the Ministerial Council. The Greek labor inspectorate is responsible for enforcing minimum wage regulations. Employers who fail to comply risk penalties and sanctions.

In Greece, private-sector employees are entitled to a variety of bonuses and allowances in addition to their regular salary.

Mandatory Bonuses

Greek employment law mandates the following bonuses:

• 13th & 14th Month Pay: All private-sector employees receive essentially two additional monthly salaries divided into three separate payments. These include:
  • Christmas Bonus: A full month's salary, paid by December 21st.
  • Easter Bonus: Half a month's salary, paid by Holy Wednesday of each year.
  • Vacation Bonus: Half a month's salary.

These bonuses are mandatory and must be paid in cash, not offered as substitutes like extra paid time off.

Additional Allowances

In addition to the mandatory bonuses, some employers in Greece might offer additional allowances. These include:

• Leave Allowance: This allowance cannot exceed half a month's salary and is calculated based on sick leave days taken.
• Meal Allowance: Some companies may provide a daily or monthly allowance to help cover the cost of meals during work hours.
• Travel Allowance: This allowance can help cover commuting expenses between home and the workplace.
• Family Allowance: Certain employers might offer financial assistance for employees with dependents.

Please note that this list is not exhaustive, and the availability of these additional allowances depends on the specific company and its policies.

In Greece, specific regulations are adhered to regarding payroll cycles for private-sector employees.

Frequency

The standard payroll cycle in Greece is monthly. Employees are entitled to receive their salaries at least once a month.

Payment Timing

By law, employers must pay salaries no later than the last working day of the month. This ensures timely compensation for employees.

Withholding and Remittance

Employers are required to withhold income tax from employee salaries. These withheld taxes must be remitted to the Greek tax authority, Eforia, by the 20th day of each month. Failing to comply with these deadlines can result in fines or even criminal proceedings.

Payslips

Every employee in Greece must receive a payslip after each payroll run. These payslips detail the salary breakdown, including gross pay, deductions, and net pay. Both paper and electronic payslips are considered legally valid.