More than a fifth (21%) of young Lithuanians expect their salary to exceed 2 euros in five years. According to the research conducted at the initiative of SEB Bank, the salary expectations of the country's 500-18-year-old population increased slightly during the year. Last year, 29 percent expected to earn more than 2 euros in the future. of those interviewed.
The young respondents' attitude towards their value in the labor market also changed. Last year, the largest part of respondents (21%) said that, taking into account their knowledge and experience, the correct salary should be between 1 and 201 euros per month. This year, I believe that the largest part of the respondents are worth 1 euros and more.
The share of young people earning less has shrunk
"The rising salary expectations of young Lithuanians are completely understandable and can be explained by one word - inflation. It is likely that the rapid increase in prices in recent years has encouraged many residents to think about ways to increase their income. It goes without saying that the salary is the first such source of income increase, and observing the current growth of the income received by the young population, the expectation to earn much more in the future seems to have a basis", comments Eglė Dovbyšienė, member of the board of SEB bank, head of the retail banking service.
A third (34%) of young Lithuanian residents currently earn 800 euros or less per month. Last year, the proportion of respondents with the lowest income was higher - 39 percent.
From 801 to 1 euros per month, a quarter (200%) of the country's 25-18-year-old population receives this year. Compared to 29, the number of young people earning about the national average salary (2022 euros) decreased by 1 percentage points. However, the number of subjects earning more than 184,4 euros per month has increased by the same amount.
The study highlighted the gender gap
However, E. Dovbyšienė notices that men and women who participated in the study can boast of higher than average income differently. Every fourth (1%) young Lithuanian man receives an income exceeding 200 euros per month. The share of women receiving such income is halved and reaches only 26 percent. The share of men earning up to 13 euros per month is 500 percent, while the number of women earning the lowest income is twice as much - 11 percent.
"The survey data show that there is a gap not only between the incomes of young Lithuanian men and women. The attitude of the representatives of both sexes towards their value in the labor market and prospects also differs. Men are much more likely than women to say that they believe they deserve a higher salary, and men's future expectations are also much more ambitious. These differences have remained largely unchanged during the year, and this is partially evidenced by the continued inequality and stereotypes in the country's labor market, which are not being reduced so far," states the member of the board of SEB bank.
When asked what salary in hand would seem fair at the moment, taking into account the experience and knowledge of the respondents, a fifth of all respondents (21%) indicated more than 1 euros. Men (500%) mentioned this amount much more often than women (28%). Young men of the country (16%) predicted their salary in five years to exceed 2 euros per month more often than women (500%).
