NEWS

Managers: More hours, less money

Greeks in management positions with big companies, with the same number of years on the job and the same professional qualifications as most of their European counterparts, work more hours for less money. In terms of hours worked for pay received, Athens comes 13th among the cities of the EU and is 27th out of the 70 cities throughout the world surveyed by UBS. The average annual income of Greek managers comes to 31,430 euros, while their counterparts in Belgium – and for 38 hours a week as opposed to 40 – earn 67,441 euros per annum, double this amount. Managers’ income in Denmark is also nearly double that of Greeks (61,630 euros per annum). Nevertheless, in Greece remuneration is more generous than in other Mediterranean countries, with managers in Spain earning 28,400, in Portugal 26,927, and in Italy just 20,461 euros annually. Within the enlarged EU, Slovakia and the Czech Republic pay managers the least, 7,939 and 9,739 euros respectively.