Average Salary Hits €1000 a Month in Estonia
- New Europe Investor
- June 18, 2015
Last year, the average gross monthly salary in Estonia hit more than €1000 for the first time according to official statistics in the country.
Reaching €1,005 at the end of the year, the average earnings represents an increase of 5.9% from the end of 2013.
Estonia was impacted badly from the financial crisis, with real wages taking a huge hit. A large number of people in the public and private sector had to take very heavy pay cuts as a result.
However, since 2010 real wages have seen a consistent rise every year.
Perhaps surprisingly, the average salary in public sector jobs is above the national average at €1,037. Average private sector salaries are slightly lower at €994.
ERR reports that salaries are still low in the smallest of the Baltic States.
They go on to say that only 50,000 of its citizens earn higher salaries than the average of their Finnish neighbours.
Many experts in Estonia predict that the country’s earning power will be on par with their Scandinavian neighbours as soon as 2025.