EMPLOYMENT

Large firms pay better, salaries to grow

Large firms pay better, salaries to grow

Large enterprises – employing more than 50 staff each – offer their employees far better salaries than small, family companies – family members and up to 10 workers – according to data from the Labor Ministry’s Ergani employment database.

Figures also show the average salary posted an increase last year, thanks to the end of the lockdowns and the significant growth in employment. The twin increase of the minimum wage in 2022 and the continued creation of jobs mean the rise in private sector salaries is set to continue this year.

The Ergani statistics reveal that the smaller a company is, the lower the salaries. For example, the average salary at companies employing up to 10 people stands at just 666 euros per month gross. Enterprises with 11 to 50 employees pay an average of €863 and those employing 50 to 250 people have an average salary of more than €1,500.

Of course, given that small enterprises are the norm in Greece, numbering 257,000 out of a total of 291,808, a worker’s chances of securing a good salary remain limited. More than 60% of employees in the private sector have salaries below €750 per month.

Across 88 business sectors, 56 that offer salaries in excess of €1,000 per month, while the other 32 give workers less than €1,000 each. The sectors that top the staff payment chart are fuel companies, shipping of all types, credit services and gas and electricity retailers.

Salary leaders also include the sector of holiday accommodation, although official data record a major difference between the salaries of some workers and others in the sector.

On the other hand, the lowest monthly salaries are found in food service, where the average salary is just €416, personal service (€585) and security services for buildings (€592). It is obvious that the low average salaries, even lower than the official minimum salary, are due to the increased rate of part-time employment and under-declared labor in certain sectors.

Throughout the Greek economy, salaried employment concerned 2.28 million workers in 2021, according to Ergani figures, which are compiled through the declarations of employers regarding both staff numbers and salary levels.