bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Tuesday 23.05.2017 | Name days: Leontīne, Ligija, Lonija, Leokādija

Lithuanian youths have the most modest wage demands, Estonian youths – the highest

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU69% 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.»

Ref: 102.109.109.6792


Leave a reply

Experts: Rail Baltica – connection that benefits everyone

The essence of Rail Baltica project is not combating the trends currently present in the world, but rather using them as an advantage, says advisor to the Bank of Latvia Andris Strazds. He adds that more and more economic and social development is centered in large and urban city centres.

Latvian companies ahead of neighbours in organization of business trips

Latvian businesses are more progressive in the organization of business trips than Lithuania. They do, however, spend a lot of money on planning and organizing of those trips. In addition, they also use inefficient financing methods – 20% of employees are forced to pre-finance their business trips from their own pockets, according to results of an international study.

Riga Eastern Clinical Hospital to identify patients using fingerprint data

Riga Eastern Clinical Hospital has introduced biometric data identification system that will be used to identify patients using fingerprint data, BNN was informed by the hospital.

FDC: micro-enterprise tax has created serious defects

The micro-enterprise tax has created serious defects for Latvia’s tax system, said Fiscal Discipline Council chairman Janis Platais in an interview to Latvijas Avīze.

Microsoft software licences cost Estonia millions each year

Estonian ministries and their subordinated institutions pay a total of under five million euros each year in Microsoft software licence fees.

Latvia’s unemployment rate was 9.4% in Q1 2017

In Q1 2017 the Latvian unemployment rate constituted 9.4 %. Compared to the previous quarter, the unemployment rate increased by 0.1 percentage points, whereas, compared to the same period of the year before, the rate reduced by 0.9 percentage points.

Pension expert: how far can index funds root themselves in Latvian pension plans?

Latvian pension plan clients can still pick existing pension plans with sufficiently flexible deposit policy and possibilities to receive consultations. It should be added, however, that pension plans based on index funds can find clients in Latvia for whom low-price guarantees is important the most, Nordea Pensions Latvia board member Ilya Arefjevs predicts.

Latvian Defence Ministry plans the largest tendering process in country’s history

This summer, Latvian Defence Ministry plans to announce the largest tendering procedure in the history of Latvia’s army. It is planned to procure heavy vehicles to transport armoured vehicles and troops. The total amount for the next ten years may reach EUR 200 million, as reported by Nekā personīga.

Study: engaging in business improves satisfaction with life

It has been concluded that psychological aspects are far more important than financial aspects in business operations – stability, family support, exchange of experience and realization of ideas are important for emerging businessmen, as concluded in a study performed by Altum.

Following use of EU funds, demand for loans increases in municipalities

Demand for loans from the State Treasury has increased after use of EU funds became more active, said Kaspars Abolins, chief of State Treasury, in an interview.

Swiss voters decide to move away from nuclear energy

Switzerland has decided to quit nuclear power stations and opt for renewable energy, show the results of a referendum held on Sunday, May 21, where 58% voters backed phasing out nuclear power.

Child vaccination made mandatory in Italy

Reacting to lower child protection against measles, the government of Italy has decided to make vaccination against 12 illnesses mandatory for children before they start going to state schools.

Deputies to decide on prohibiting gambling in Riga’s historic centre

On Monday, 22 May, deputies will discuss the matter on sorting out Riga’s historic centre. It is stated in new territorial plans that it will be prohibited for gambling halls to be located in this area.

Week in Lithuania. Lithuania to start paying child money in 2018

Lithuanian Prime Minister Saulius Skvernelis says that the government will follow up on its plan to next year start paying a monthly benefit for each child regardless of their parents' income, but adds that the state cannot afford to pay more than 30 to 50 euros in so-called «child money».

BNN summary of the week: problems with state financial accounts Baltics to promote healthy eating

BNN offers a summary of this week’s topical news in a variety of categories: Business; Future; Decline; Truth and Growth.

Specialists: noxious smoke from the fire claims more lives than the flames

The biggest damages during a fire are caused by flames, whereas noxious smoke from the fire kills more people, as noted by firefighting specialists.

FVS uncovered illegal sheep meat product trade

Inspecting an advertisement published on Facebook, Latvian Food and Veterinary Service uncovered illegal trade of sheep meat, canned meat storage and meat product distribution organized in an office building on Selpils Street, Riga, as reported by SRS.

Municipal elections 2017: what do people say?

With municipal elections gradually coming close, BNN offers a compilation of opinions provided by experts from different industries. Short answers consist of thoughts about specific municipalities that affect respondents directly, and municipal administrations in general – what people expect from officials and what changes they expect from elections.

Sweden decides to drop Wikileaks Assange arrest warrant

Prosecutors in Sweden have made the decision to quit the investigation in the case, where the founder of classified document leaking organisation Wikileaks, Julian Assange, is charged with rape and to drop the European arrest warrant on him.

Vejonis: we have yet to assess the use of funding in healthcare

In his interview to 900 seconds, Latvian President Raimonds Vejonis said the level of competent use of funding in the country’s healthcare sector has yet to be properly assessed.

ST: changes to Latvia’s credit rating associated with GDP growth

The possibility of Latvia’s credit rating growing is directly tied to gross domestic product growth, admits State Treasury manager Kaspars Abolins.

War games start in Estonian large-scale military drill with allied units

The military drill of the annual Estonian Defence Forces entitled Spring Storm has entered its key stage of a week of imitated battles, where units of other NATO member states and partner states are to take part.

EP tells member states to speed up refugee resettlement; especially children

European Union member states have to fulfil their promises to resettle asylum seekers from Greece and Italy. This especially applies to children, as stated in European Parliament’s resolution approved 19 May.

Total costs of reconstruction of Mezaparks Grand Stage may reach EUR 77 million

The estimated costs for the reconstruction of Mezaparks Grand Stage may reach EUR 77 million, as announced by Riga City Council’s Property Department Direction Olegs Baburovs at the first meeting of the Song and Dance Celebration Council.

Greece passes further austerity measures to receive next bailout payment

The parliament of Greece has adopted a further set of austerity measures, which are necessary to ensure the next bailout instalment worth several billion euros.

Newest comments