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Monday 22.07.2019 | Name days: Marija, Marika, Marina

Survey: nearly half of Latvian youngsters would like to receive at least EUR 800 after taxes

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU47% of Latvian youngsters would like to receive EUR 800 to EUR 1 000 after taxes per month, according to a survey by SEB Bank.

Over the course of the year the number of youngsters in Latvia who believe the appropriate remuneration for their knowledge and skills would be EUR 800 to EUR 1 000 has increased from 34% to 47%. Another 25% of youngsters believe employers should pay them more than EUR 1 200 (20% in 2018). 72% of youngsters in Latvia would like to receive more than EUR 800 after taxes (54% in 2018).

«Although the average wage in Latvia has increased over the course of the year, no major increase has been noticed in the youngsters segment, especially when compared to the previous year. Similar to 2018, the wages of 33% of interviewed people was above EUR 800.

As average wages increase on the labour market, so do the ambitions of young people – they want to receive more not only today, but tomorrow as well,» comments SEB Bank board member Arnis Škapars.

«Wages worth at least EUR 1 500 and more are expected by 57% of interviewed youngsters, which is close to the data from 2018 (53%). Survey data shows that men generally have greater ambitions – wage above EUR 1 500 is expected by 69% (65% in 2018). Among women, however, only 48% expect to receive such wages (43% in 2018)».

According to data, the main source of income for the majority of 18 to 19-year-olds is their parents or relatives or scholarship. Generally, monthly income does not exceed EUR 300. Approximately 45% of youngsters of this age also receive wages and their income reaches EUR 500 after taxes. The main source of income for youngsters aged 20 to 22 years is regular wage (68% of respondents) and their monthly income varies between EUR 300 and EUR 500.

Youngsters aged 23 to 25 either work or combine work with studies. Their main source of income comes from regular wage (89%). Those who only work have larger income – 27% of youngsters in this group earn between EUR 500 and EUR 800 after taxes, income of 48% of respondents exceeds EUR 800 a month and income of another 25% exceeds EUR 1 200 after taxes, the survey determined.

Survey data also shows that youngsters in Latvia carefully pick their future careers and consider their long-term benefits – 63% of youngsters who work or combine work with studies work in the profession they had either studied for or is partially associated with their studies. 53% of respondents who do not work and only study are confident their chosen profession will be competitive in the future.

According to CV-Online Latvia manager Aivis Brodiņš, it is easy for youngsters to find jobs. What is most important, he said, is to have the desire to work and prove themselves.

«The increase of vacant jobs and the shortage of labour force makes employers consider young people for jobs more actively. This is also reflected in the recent decline of youth unemployment. Even youngsters who lack work experience but have appropriate knowledge, skills and motivation are in a very good position to find work with adequate pay,» says Brodiņš.

To acquire experience on the labour market, 63% of youngsters use the opportunity to undergo trainee programmes working real jobs. Approximately 17% of respondents have no work experience, whereas 20% of them admit they have not had an opportunity to undergo training during studies but would use such an opportunity if it appeared.

The internet survey was open for SEB Bank clients in March 2019. A total of 1 850 people aged 18 to 25 years took part in it.

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