Living in Greece can be an amazing experience. The people are pleasant, the cuisine is pleasant, and there are plenty of attractions. It is generally safe and the population diverse. However, it is not all fun. You may be curious about the average salary and the cost of living. In this article, I will try to answer all your questions about living and working in Greece. It may help you determine whether it is the right place for you to work.
The average salary in Greece is 2,788 EUR per month. 25% of workers in Greece earn less than 1,428 EUR and 75% earn over 1,428 EUR. Salaries vary depending on skill, level of education, and experience. Like in any other country, highly skilled and experienced workers are likely to earn more money than those with little skill and experience.
Are you an expat or a citizen seeking employment in Greece? You probably have a lot of questions. There are plenty of industries in the country and you may not know what to expect. The article talks about the minimum wage, average household income, average salary in Athens, and the average wage for some of the most popular jobs in the country. It will help you estimate your potential income and the cost of living.
Average Salary in Greece
The average hourly wage in Greece is 16 EUR. Jobs fall into two categories; hourly, and salaried jobs. The average salary for salaried jobs is based on an employee’s worked hours per week and the vacation allowance per year. In most jobs, employees work five days in a week and eight hours per day.
The average salary of an accountant is 1,794 EUR. An attorney earns an average of 4,055 EUR, an administrative assistant earns an average of 1,481, and a cashier earns an average of 1,593 EUR. A civil engineer earns about 2,324, a graphic designer earns an average of 1,853 EUR and a hotel manager earns an average of 3,873 EUR. A computer technician earns an average of 1,994 EUR, a dentist earns an average of 6,210 EUR, and a waiter/waitress earns an average of 1,588 EUR.
Some of the most popular industries in Greece are; Health and Medical, construction/building/installation, and food/hospitality/tourism.
The average hourly wage for the Health and Medical industry is 23 EUR. Some of the most common job titles are; Acute Care Nurse, Academic Clinician, and Admitting Manager. The average salary of an Academic Clinician is 4,052 EUR. An Acute Care Nurse earns an average of 2,388 EUR, and an Admitting Manager earns an average of 2,691 EUR.
In the construction/building/installation industry, the common job titles are Assembler, Adjudicator, Bricklayer, and Boat Builder and Shipwright. The salaries in the industries ranging from 1,225 EUR to 3,324 EUR per month. The average salary is 2,038 EUR per month.
The average salary of an Adjudicator is 1,729 EUR. A Bricklayer earns an average of 1,446 EUR, and an Assembler earns an average of 1,634 EUR.
In the food/hospitality/tourism industry, the average monthly salary is 2,344 EUR per month. Some of the most popular job titles in the industry include; All Rounder, Assistant Hospitality Manager, Bakery Manager, Bar Manager, Banquet Manager, Concierge, Motel Manager, and Chef.
The average salary of an All-Rounder is 1,994 EUR. A Bakery Manager earns an average of 2,482 EUR, a Bar Manager earns an average of 2,668 EUR, and a Concierge earns an average of 1,562 EUR.
The minimum wage in the industry is 1,120 EUR and the maximum wage is 4,198 EUR per month.
Other popular industries include; Airlines/Aviation/Aerospace, Banking, Teaching/Education, and Engineering.
The average salary in the Banking industry is 3,152 EUR per month. Some of the most popular job titles in the banking industry include; ATM Manager, ATM Service Technician, Bank Accounts Manager, Bank Auditing Manager, Bank Branch Manager, Budget Analyst, Credit Analyst, Loan Processing Manager, Mortgage Underwriter, and Mortgage Processor.
Salaries in the banking industry range from 1,819 EUR to 5,948 EUR per month.
Greece offers plenty of opportunities for entrepreneurship. Thousands of young people in Greece earn a living from entrepreneurship.
Greece Average Household Income
The average household net-adjusted income in Greece is USD 17, 700 annually. It is considerably lower than the OCED average of USD 33,604. In Greece, there is a considerable difference between the rich and the poor. The top 20% of the population earns up to six times as much as those at the bottom. 80% of the population relies on white-collar jobs and about 20% depends on blue-collar jobs.
Minimum Wage in Greece
Greece has a minimum wage mandated by the government. No worker in the country should be paid below the minimum wage. Employers who do not meet the minimum wage can be punished based on the law.
The minimum wage is 29.04 EUR per day and about 650.00 EUR per month. The approved working hours are six days per week and 40 hours per week.
The minimum wage continues to increase over the years. In Greece, the minimum wage is determined based on the terms of the National General Collective Labor Agreement (NGCLA). Employers do not need to belong in a trade or employers union to comply with the minimum wage requirement.
It applies to all employees regardless of whether they work in the private or public sector.
If an employer fails in their responsibility to meet the minimum wage and pay regularly, their employees can file a complaint with SEPE. The role of SEPE is to monitor and implement employment laws. The employees also have the right to stop working. Their employment is secure even in the abstention.
According to the law, employees are entitled to regular pay. For white-collar jobs, the pay is usually monthly. Blue-collar workers get daily wages. Employers are required to not only meet minimum pay but also pay regularly. Even though the law does not specify the exact times when employees should be paid, it states that their wages should be paid regularly.
If employees work past their regular working hours, they are eligible for overtime compensation. Employers must file all wage data. It is useful in calculating social security contribution.
Average Salary in Athens
Athens is one of the most beautiful cities in the world. If you are an expat, you may be thrilled by the idea of living in the city. The minimum salary in Athens is $758.05 per month.
The average salary in Athens is about $837.733 per month. Because of unemployment and underemployment, Athens has some of the lowest average wages in the Eurozone.
The biggest industry in Athens is tourism. There are plenty of job opportunities for foreigners. Some of the most popular job titles in Athens include; Retail Salesperson, Cashiers, Registered Nurse, Maintenance and Repair Worker, and Customer Service Representative.
The average salary of a Retail Salesperson is $19,310. Registered nurses earn an average of $60,190, customer service representatives earn an average of $26,430, and cashiers earn an average of $18,440.
The best-paying jobs in Athens include; psychiatrists, public relations and fundraising managers, general dentists, chemists, mechanical engineers, and natural sciences managers.
The best paying profession is a General Dentist. The average salary for the job is $163,350. The next high paying job is psychiatrists. They earn an average of $141,650. Marketing Managers earn an average of $139,160, Public Relations and Fundraising Managers earn an average of $108,830.
For expats, the most popular job options include; language teacher, cab driver, freelance work, or work at the embassy. If you plan on moving to Athens from a different country, I suggest that you invest and effort into finding the right job. You may need to learn the local language first. Getting employment can be difficult if you are not fluent in the local language. Without a proper job, you are likely to fall into credit.
Cost of Living in Greece
The cost of living in Greece is fair. If you have an average salary, you can afford a decent lifestyle without going into credit. Living in Greece costs lower than living in most parts of Europe.
Even though the country has faced an economic crisis over the past years, things continue to get better.
The cost of medical care in Greece is generally inexpensive. If you are not covered by the social security system, you may have to purchase private health insurance.
The cost of a one-bedroom apartment on the outskirts of the city is about $350 per month. The cost of utilities such as heating, garbage pickup and electricity may add up to $162 per month.
There is plenty of cheap and locally produced food. A litre of whole fat milk costs about 1.23 EUR. 12 large eggs cost 4.15 EUR and 500g of local cheese costs about 4.91 EUR. The cost of dinner at a neighbourhood pub is 27 EUR and the cost of a beer is 4.38 EUR.
According to Mercer’s 2018 Cost of Living Survey, Athens ranks 112th out of 209 cities worldwide in the cost of living.
Different parts of Greece have different costs of living. In the mainland, the cost of fuel is cheaper. The northern and southern suburbs are known to be a lot more expensive than other parts of Greece. Some of the most expensive places to live in Greece include; Santorini, Mykonos, and Crete.
The cost of accommodation accounts for the biggest expense in Greece. It is generally low and the cost of home insurance is low.
If you plan on owning a car, auto insurance is a must. Driving in Greece can be challenging especially if you are new. The options for public transport include the metro or bus.
By following all the tips outlined above, you should be able to lead a comfortable life in case you decide to move to Greece.
About the author: Marta Kovachek is the author of this article. She graduated from the University of Chicago with a master’s degree in Economics. Marta enjoys writing about the current economic situation and loves helping our readers to find their next "destination". From places to live to complex social and economic topics, we always enjoy Marta's work. Please contact us in case of any questions.