91% of Latvian residents aged 18 to 39 years say that for a decent life in Latvia they need more than EUR 1 000 «on hands» a month, as concluded in Evolution Latvia youngsters labour market index Youth. Work. Environment carried out in cooperation with Norstat.
According to results of the survey, 33% of residents aged 18 to 39 years say they would need between EUR 1 501 to EUR 2 000 a month after taxes for a decent life.
«The average wage set in Latvia now – EUR 977 after taxes – is enough to afford a decent life for only 9% of respondents. The majority of young people express the want for significantly higher income, more than EUR 1 500 a month. Here we can see the public opinion reflects a need for stability and certainty about material welfare,» explains Evolition Latvia Baltic Office for Baltic and Romania human resources manager Sanita Kļaviņa.
The second most popular response indicates that every fourth respondent (23%) wants to earn more than EUR 1 000 but no more than EUR 1 500 a month after taxes.
18% of respondents aged 18 to 39 years said they want to earn more than EUR 2 000 by not more than EUR 2 500. Every tenth person believes more than EUR 2 500 but no more than EUR 3 000 is needed to afford a decent life. As many respondents said they would like to earn more than EUR 3 000.
«By 2025 generation Z will have become a quarter of the world’s labour force. The future is on the shoulders of generations Z and Y, which will radically change the culture and work environments of different organisations. Considering our experience, having shaped the careers of approximately 3 000 people, we can confidently say – they understand that talents pick companies, not the other way around. Often companies ignore this, because 32% of respondents believe they are underpaid and underappreciated,» stresses Kļaviņa.
At the same time, results of the survey also show a smooth correlation, because it is residents with low income are the ones who say they need up to EUR 1 500 after taxes to afford a decent life in Latvia.
People with income above EUR 750 a month claim they need EUR 1 501 or more.
When asked how much they would need to earn a month after taxes to afford a decent life in Latvia, 32% of respondents aged 18 to 29 years mentioned an amount between EUR 1 501 to EUR 2 000. This is the most popular response among 30 to 39-year-olds as well – 34% of respondents mentioned it. The next most popular response in this age group is an amount above EUR 1 000 but below EUR 1 500, which was mentioned by 27% of respondents. Respondents in the 18 to 29 years age group said they want to earn between EUR 2 001 and EUR 2 500 to afford a decent life.