Professions with salary raises
Which sections of the labor market have shown the greatest growth in earnings in recent years
in the minimum wage also creates pressures for salary increases for other employees in Greece, especially in small businesses and some industries, such as services.
Experts anticipate that the minimum wage will increase by at least 5.5% and probably approach 6.5% to reach up to 830 euros gross. This, according to the report of the Bank of Greece, as part of the consultation process, is expected to affect the salaries of those who are not paid the minimum. In fact, according to the corresponding report by the Foundation for Economic and Industrial Research (IOBE), it will drag average wages upward, though not at the same rate in all sectors.
As can also be seen from the Labor Market Needs Diagnosis Mechanism, the differentiation of median wages from sector to sector is very large. Therefore, while for all employment the average salary in 2022 (the wage that is exactly in the middle of the wage scale for all fulltime workers in the private sector) was €933.3, in wholesale and retail trade it is €850, in professional, scientific and technical activities it is €1,050, while in financial and insurance activities it amounts to €1,236, and in organizations and bodies related to the state, the mean salary is €1,400 gross.
The sectors (at the first level of analysis) in which the earnings of full-time employees increased the most in 2022 were professional, scientific and technical activities (up 17.9%), transport and storage (also 17.9%) and administrative and support activities (15.5%).
The industries at the first level of analysis in which the earnings of part-time workers increased the most were arts and entertainment (59.4%), administrative and support activities (33.7%) and transport and storage (31.1%). In 2015-2022 the largest increases in the earnings of full-time employees were recorded in the sectors of real estate management, education and other services. On the contrary, a significant drop in the salaries of those employed with a part-time work status was recorded in the financial and insurance activities sector.