You happen to be in Greece and fortune bless you with a part time job? If you’re under 25 years old… you’d better stay home. Then all you can earn working 4 hours per day, 20 hours per week, 80 hours per month will give you just 255 euro gross. Net salary it is estimated a little lower than 200 euro. So much as your daddy can give you or your granny before her pension was cut. If you are over 25, you can get the amazing amount of 299 euro per month – gross, it is understood, of course. This applies to young professionals without previous work experience. And they are many. According to official statistics one out of two young Greeks until 25 are jobless. Unemployment in Greece is estimated at 20+%. The data for 2011 have not been released yet.
In much better situation are employees with work experience of more than 9 years. A part-time job will give them 380 euro gross per month if they are over 25. If they are under 25 and have 3+ years working experience, they’ll go home with less than 280 euro.
These wages are formed after the decreases of 22% and 32% in the private sector.
The lawmakers (earning more than 5,000 euro per month) have decided so after the Troika’s pressure to increase ‘competitiveness’ in Greece. The wages cuts are valid retrospective from February 14. Employers can cut their employees’ wages even without their consent.
Greek media reported that enterprises get advantage of this measure and hire indeed young professionals for part time jobs. Time will show whether they work in reality only four hours per day.
With this “competitive” wages, Greece can soon claim it has combated young unemployment.
PS Taking into consideration the recession (-7%), the high unemployment, and the fact that if there are any jobs at all, the majority of them are for part-time, we can say, We are Finally competitive to Croatia! – Why investment is not so big there although competitive, that’s a question that on the IMF can answer.