Riga wages remain far higher than elsewhere

Take note – story published 6 years ago

Last year, salaries increased by 6 percent at medium and large companies, according to a study by the Internet recruitment company CV-Online Latvia.

Salaries at small companies rose more modestly, by 4 percent. The average net wage, including bonuses, increased almost 5 percent in 2016.

According to CV-Online Latvia head Aivis Brodins, the average monthly salary at medium companies was €881 last year and at large companies €891.

The highest average salaries were paid at international private companies - €969, and local private companies - €799, while the average salary in the state and municipal sector, including at state-owned companies, was €700.

According to the study, the average salary in Riga is still significantly larger than salaries in the regions

Among the different economy sectors, salaries increased the most at pharmaceutical, chemical industry, and insurance companies - by 14 percent.

The highest net wages were paid in such sectors as information technology and finance, while the lowest - in education and healthcare. The highest salaries are paid to high and medium-level managers, as well as high-level IT, finance, marketing, sales specialists, as well as engineers.

The average monthly salary in Riga was €936 last year, while the lowest was in Daugavpils, €582. The average salary in Kurzeme province was €678, in Zemgale - €680, in Latgale - €594, in Vidzeme - €649, and in Greater Riga Region and Jurmala - €865.

SEB Banka economist Dainis Gaspuitis said that wages could grow about 5.5 percent this year. In years to come, wage growth will be influenced by tax changes and changes in the minimum wage, but the overall pace may remain the same due to the situation on the labor market, where the number of economically-active residents continues to decrease due to population aging.

The survey was carried out on the Algas.lv website throughout last year, collating data provided by more than 17,000 respondents.

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