69% of young people in Lithuania are prepared to accept salary up to EUR 750 after taxes on their first job. In Latvia, only 42% of respondents said they would accept this wage size at the beginning of their careers and in Estonia – 27%, according to results of a survey carried out by SEB Bank.
Estonians have the highest demands when it comes to their first wage – every third Estonian youngster expects to be paid no less than EUR 3,000 after taxes at the beginning of their career. 35% of interviewed youngsters wish to receive no less than EUR 1,000 after taxes per month. The same proportion of respondents expects their income to be from EUR 751 to EUR 1,000 per month (10% in Latvia and 12% in Lithuania).
Latvia does nonetheless have a larger proportion of even more ambitious young people. Every tenth respondent in Latvia is certain their first salary should be no lower than EUR 1,500 after taxes (8% in Estonia and 3% in Lithuania).
Compared with its neighbours, there are two distinct categories in Latvia: 34% of respondents expect their salary to be within EUR 501 – EUR 750 after taxes and 33% expect their salary in their first job to be EUR 751 – EUR 1,000 after taxes.
SEB Bank social economy expert Edmunds Rudzitis says: «Differences in expectations can be explained with the quality of life and income levels in Baltic States. Because income of residents in Estonia is already higher, expectations of youngsters in regard to their first salary are higher as well. What is surprising, however, is that 10% of respondents in Latvia expect their salary in at the very beginning of their career will be twice as large as the average salary across the country (which is EUR 600 at the moment). Employers are unlikely to pay salaries of this size if their young employees do not have any unique talents or skills».
It is also interesting that a large number of youngsters in Baltic States are planning to work in entrepreneurship. In spite of the fact that youngsters in Lithuania are modest in their demands in relation to their first salary, they are more ambitious when it comes to career. When asked if you’d like to found their own enterprise, only 13% of respondents said they are prepared to be employees (22% in Latvia and Estonia).
«Youngsters in all three Baltic States mentioned the lack of ideas and knowledge as the main obstacles on their way to creating their own business. It is noteworthy, however, that young people in Lithuania already seem very independent,» – adds Rudzitis. «In all age groups Lithuanian youngsters pay for everyday expenses with money they have earned themselves. This demonstrates their ability to accurately plan their budgets. 48% of respondents in Estonia mentioned that they receive money from parents and expect support from their family. In Latvia and Lithuania, only 32% of respondents expect their family to financially support them.»