Minimum wage: Estimates for increases from 3.5% to 16.5% – When to apply – 2024-02-22 12:49:30

April 1 appears to be the catalyst date for the implementation of the new minimum wage. In the ministry’s schedule, it seems that the target has been set raises to be implemented in the same period as the corresponding ones of 2023.

According to information, the Minister of Labor Domna Michailidouis expected to propose to its Council of Ministers March 22ndthe increase in the minimum wage to private sector.

The prevailing scenario foresees an increase from April 1st close to 5%-6%, so that the new salary will increase from 780 euros today (667 euros net) to 820-830 euros, with the aim of the net amount touching or even exceeding 700 euros (it will reach 706- 715 euros).

The beneficiaries of the regulation reach 585,000 to 600,000 employees.

It is pointed out that the government’s aim is, in a four-year horizon, for the minimum wage to rise to 950 euros and the average wage to 1,500 euros. Estimates speak of an increase of 5% to 6% with the amount being 820 to 830 euros gross from the current 780, while the goal in four years is to reach 950 euros gross.

Minimum wage and three years today

• Without previous service €780
• With 1 three years €858 (+€78)
• With 2 three-year terms €936 (+€156)
• With 3 three-year terms €1,014 (+€234)
• After the increase (even €820)
• No previous service €820
• With 1 three years €902 (+€82)
• With 2 three-year terms €984 (+€164)
• With 3 three-year terms €1,066 (+€246)

Proposals from social partners and scientific bodies start from 3.5% and reach 16.5%

• KEPE: +3.5% (€807)
• Bank of Greece: 4% (€811)
• BSE: +4% (€811)
• ESEE: +4.5% (€815)
• SETE: +5% (€819)
• GSEVEE: +5.5% (€823)
• GSEE: +16.5% (€908)

Mitsotakis: The minimum wage is over 800 euros

“Its structural problem can only be solved through a stable and sustainable increase in wages and disposable income. And there I think we have made important steps: the minimum wage has increased by 20% since we came into action and I remind you of our commitment to reach 950 euros at the end of the four years”, Kyriakos Mitsotakis emphasized a few days ago about the increase of the minimum wage.

The prime minister estimated that the minimum wage will definitely be above the 800 euros, while he noted that many are in the zone of wage earners between 1,000 and 3,000 euros and fewer, proportionally, in the minimum wage.

“This is the result of an economy which is growing rapidly and which also leads to the de-escalation of unemployment. The lower the unemployment, the greater the employee’s bargaining power and finally the companies are forced to increase their wages to attract the workers they want”, he underlined.