Greece

Last Update by Katie, 29 May 2024

You must log in to be able to download this document

Exchange Rate

23 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Athens

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (EUR)
McDonalds Set Meal 9
Monthly Train and Bus Tickets 30
3 Bedrooms Rental (City Center) 990
3 Bedrooms Rental (Outskirt) 882

Current Inflation Rate

3.20%

Wage

Minimum Wages

  • As of 1st April 2024
    White-collar workers: 830,00 EUR per month

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (EUR)
Entry-Level
Fresh Graduate
950
Mid-Level
5 Years
1500
Experienced & Managerial Level
10 Years
2450
Specialized & Senior-Level
15 Years
3100

Annual Salary Growth

5.5%

Statutory Contribution

The monthly social security contribution cap for EFKA is set at EUR 7,373.53

Country Level

Type Employer Rates Employee Rates Notes
Pension Fund 13.33% 6.67% All staff
Supplementary Pension 3.00% 3.00% All staff
Healthcare 4.23% 2.15% All staff
Supplementary Healthcare in Benefit 0.25% 0.40% All staff
Unemployment 1.41% 1.65% All staff
Professional Risk 1.00% - All staff
High Occupational Risk 1.40% 2.20% All staff in certain industries

Other Benefit

Other common employment benefits in Greece include:

  • Private Insurance: 120 EUR per month
  • Car Allowance: Around 50 EUR per month
  • Meal Allowance: Around 75 EUR per month
  • Gym Membership: 50 EUR per month

Income Tax

Residents

  • Tax period: 1st January - 31st December

Country Level

Taxable Income Rate
Up to 10,000 9%
10,001 - 20,000 22%
20,001 - 30,000 28%
30,001 - 40,000 36%
40,001+ 44%

Non-residents

  • Non-residents are taxed on Greek-source income only. The same tax rate applies.

Working Hours

Statutory

40 hours
8 hours a day, 5 days a week

Typical practice

42 hours
Monday - Friday

Overtime

150 hours per year paid at a rate of 140%

  • Employers receiving special permission for additional overtime: Paid at a rate of 160%.

Employment Contract

Fixed-Term

Can be renewed without any limits if justified by an objective reason. In case of the absence of an objective reason it cannot exceed 3 years. Written form is required.

Probation

Cannot exceed 1/4 of the total duration of the contract and up to a maximum of 6 months.

Termination

If employer terminate the contract before the expiry date without cause, the employee is entitled the wage and fixed benefit for the rest of the contract.

Public Holiday

  • 12 days

12 days
Public holiday that fall on days off are lost

Country Level

Date Name
01 Jan New Year's Day
06 Jan Epiphany
18 Mar Orthodox Clean Monday
25 Mar Independence Day
01 May Labour Day
03 May Orthodox Good Friday
05 May Orthodox Easter Sunday
06 May Orthodox Easter Monday
23 Jun Orthodox Whit Sunday
24 Jun Orthodox Whit Monday
15 Aug Assumption Day
28 Oct Ochi Day
25 Dec - 26 Dec Christmas Day
26 Dec Glorifying Mother of God

Leave

Leave Type Entitlement Notes
Annual Leave 20 working days, 5 day week
24 working days,6 day week
All staff
1 extra day per completed year for the first 2years.
After 10 years' service 25 days for five-day work week and 30 days for six-day week
Maternity Leave 17 weeks
Can be extended up to 43 weeks
Expectant mothers
Paternity Leave 2 working days All fathers
Parental Leave 4 months All parents with 1 year service
Sick Leave 1 month All staff with 4 years' service
Bereavement Leave 2 working days All staff
Marriage Leave 5 working days All staff
Voting Leave Up to 3 working days All staff

Reference

Ready To Expand in Greece?

Have any questions? We’d love to hear from you

Contact Us