As a result of efforts to compensate the rapidly growing everyday expenses, 16% of Latvian residents have received a raise. Most of those people are office workers, qualified specialists or manager, according to results of a survey conducted among residents in Latvia by Citadele Bank.
16% of interviewed Latvian residents have received a raise this year, whereas another 3% have plans to request a supplement to their pay. Survey results indicate that most often the residents who have received a raise are men 30 to 39 years of age with monthly income between EUR 1 251 to EUR 1 500.
Office workers, qualified specialists and managers are among the majority of people who have received a raise this year. Every fifth representative of these professions has received a raise, whereas the wages of self-employed persons has increased only for 10% of respondents.
Results of Citadele’s survey indicate that 63% of respondents have not received any bonus this year. In most cases these are women 30 to 39 years of age.
In most cases a raise was not received by respondents in Kurzeme, Zemgale and Latgale. This is true mostly for workers of the commercial and service sector, as well as unqualified workers.
«In Q1 2022 the average gross wage in Latvia was EUR 1 297, whereas the average net wage was EUR 951. Although wages may rise on paper, consumer price growth reduces residents’ purchasing power. This process has been especially rapid since the start of 2021. In such situations is important to keep your finger on the pulse of the national economy and your own company’s successes and performance on the market to make sure that when you ask for a bonus, the request is justified and balanced with realistic capabilities,» says Citadele Bank’s Private Services Office manager Jānis Mūrnieks.
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Approximately 6% of respondents said they have not requested a raise because they know it is impossible, whereas 1% reveal they cannot muster the courage to request a raise. This problem is the most serious for women 50 to 59 years old working in the service or commercial sector.
5% of respondents admit they are their own boss and can increase or decrease their wage as they like.
The indicative survey on wage changes among residents was organised by Citadele bank together with Norstat agency in July 2022. A total of 1 004 Latvian residents were interviewed online.