- Country Guide
- Greece
Greece
Last Update by Federico, 30 Dec 2024
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Exchange Rate
15 Jan 2025
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) | 1,082 |
| 3 Bedrooms Rental (Outskirt) | 925 |
Current Inflation Rate
3.5%
Wage
Minimum Wages
- As of 1st April 2024
Under 25: 760 EUR per month
Over 25: 850 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 maximum earnings capped at 7373.53 per month |
| Supplementary Pension | 3.00% | 3.00% |
All staff maximum earnings capped at 7373.53 per month |
| Healthcare | 4.3% | 2.15% |
All staff maximum earnings capped at 7373.53 per month |
| Supplementary Healthcare in Benefit | 0.25% | 0.40% |
All staff maximum earnings capped at 7373.53 per month |
| Unemployment | 1.41% | 1.65% |
All staff maximum earnings capped at 7373.53 per month |
| 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.
-
A tax resident is an individual who meets one of following criteria:
- Residence in Greece for at least 183 days in a calendar year
- Have their centre of life interests in Greece
Working Hours
Statutory
40 hours
8 hours a day, 5 days a week
Typical practice
40 hours
Monday - Friday
Overtime
- Employers receiving special permission for additional overtime per week:
40-48 hours - 120% of salary
48+ - 140% of salary
120+ - 160% of salary - Work on Sundays and official Holidays - 175%
- Work at night - 125%
Employment Contract
Fixed-Term
Used for temporary, seasonal work or specific projects
Contract Format
Written
Payroll Currency
EUR
Probation
Cannot exceed 1/4 of the contract, up to a maximum of 6 months
Contract Period
Up to 2 years and can be renewed without any limits if justified by an objective reason. Contracts for extensions without objective reasons are restricted to 3 renewals
Termination
The contract may be terminated by the employer, the employee or by mutual agreement
| Voluntary Resignation | Involuntary Termination | Economic Layoff | |
|---|---|---|---|
| Notice Period - Probation | - No notice | - No notice | - No notice |
| Notice Period - Regular | - No notice - Collective agreements may differ |
- No notice - Collective agreements may differ |
- No notice - Collective agreements may differ |
| Severance Pay | - | - Salary paid till end of the contract's natural expiry date | - Salary paid till end of the contract's natural expiry date |
Public Holiday
- 12 days
Country Level
| Date | Name |
|---|---|
| 01 Jan | New Year's Day |
| 06 Jan | Epiphany |
| 03 Mar | Clean Monday |
| 25 Mar | Independence Day |
| 18 Apr | Orthodox Good Friday |
| 20 Apr - 21 Apr | Orthodox Easter |
| 01 May | Labor Day |
| 15 Aug | Assumption Day |
| 28 Oct | The Ochi day |
| 25 Dec - 26 Dec | Christmas Day |
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 2 years After 10 years' service, 25 days for 5-day work week and 30 days for six-day week |
| Maternity/Special Maternity Leave |
17 weeks Can be extended up to 43 weeks |
All expectant mothers |
| Paternity Leave | 14 working days | All expectant fathers |
| Parental Leave | 4 months | All parents with 1 year service |
| Sick Leave |
1 month Employement from 4 - 10 years: 3 month Employement for more than 10 years: 4 months Employment for more than 15 years: 6 months |
All staff with 4 years' service |
Reference
- https://www.numbeo.com/cost-of-living/in/Athens
- https://ypergasias.gov.gr/en/social-security/insured-persons/insurance-contributions/
- https://www.usemultiplier.com/greece/employee-benefits-and-compensation
- https://www.kpsy.gr/index.php/publications/employment/24-greek-law-labour-law-in-a-nutshell
- https://ypergasias.gov.gr/en/labour-relations/collective-employment-relations/minimum-wage/
- https://ypergasias.gov.gr/ergasiakes-scheseis/atomikes-ergasiakes-sxeseis/lysi-symvasis-ergasias/
- https://www.dypa.gov.gr/en/epidoma-gonikis-adeias-1
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Contact UsCountry Guide - Greece
Last updated: 30 Dec 2024
Exchange Rate
Currency (EUR)
- 1 CNY = 0.185 EUR
- 1 USD = 1.32 EUR
Other currencies can be retrieved via the country guide link above.
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Labor Cost Calculator
To know the total employer cost for hiring a staff with certain salary, please go to our main site: https://marcopayroll.com
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) | 1,082 |
| 3 Bedrooms Rental (Outskirt) | 925 |
Current Inflation Rate
3.5%
Wage
Minimum Wages
- As of 1st April 2024
Under 25: 760 EUR per month
Over 25: 850 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 maximum earnings capped at 7373.53 per month |
| Supplementary Pension | 3.00% | 3.00% |
All staff maximum earnings capped at 7373.53 per month |
| Healthcare | 4.3% | 2.15% |
All staff maximum earnings capped at 7373.53 per month |
| Supplementary Healthcare in Benefit | 0.25% | 0.40% |
All staff maximum earnings capped at 7373.53 per month |
| Unemployment | 1.41% | 1.65% |
All staff maximum earnings capped at 7373.53 per month |
| 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.
-
A tax resident is an individual who meets one of following criteria:
- Residence in Greece for at least 183 days in a calendar year
- Have their centre of life interests in Greece
Working Hours
Statutory
40 hours
8 hours a day, 5 days a week
Typical practice
40 hours
Monday - Friday
Overtime
- Employers receiving special permission for additional overtime per week:
40-48 hours - 120% of salary
48+ - 140% of salary
120+ - 160% of salary - Work on Sundays and official Holidays - 175%
- Work at night - 125%
Employment Contract
Permanent
Probation
6 - 12 months
Termination
The contract may be terminated by the employer, the employee or by mutual agreement
| Voluntary Resignation | Involuntary Termination | Economic Layoff | |
|---|---|---|---|
| Notice Period - Probation | - No notice | - No notice | - No notice |
| Notice Period - Regular | - Up to 3 months notice - Collective agreements may differ |
- Under 12 months' service: no notice required - 12 months - 2 years: 1 month - 2 - 5 years: 2 months - 5 years - 10 years: 3 months - Over 10 years: 4 months |
- Under 12 months' service: no notice required - 12 months - 2 years: 1 month - 2 - 5 years: 2 months - 5 years - 10 years: 3 months - Over 10 years: 4 months |
| Severance Pay | - | Based on the last months' salary - staff with under 12 months service are not eligible - 12 months - 4 years' service: 2 months’ gross salary - 4 - 6 years' service : 3 months’ gross salary - 6 - 8 years' service: 4 months’ gross salary - 8 - 10 years' service: 5 months’ gross salary - 10 full years' service: 6 months' gross salary - Every full year over 10 years: 1 additional months' gross salary |
Based on the last months' salary - staff with under 12 months service are not eligible - 12 months - 4 years' service: 2 months’ gross salary - 4 - 6 years' service : 3 months’ gross salary - 6 - 8 years' service: 4 months’ gross salary - 8 - 10 years' service: 5 months’ gross salary - 10 full years' service: 6 months' gross salary - Every full year over 10 years: 1 additional months' gross salary |
Fixed-Term
Used for temporary, seasonal work or specific projects
Probation
Cannot exceed 1/4 of the contract, up to a maximum of 6 months
Termination
The contract may be terminated by the employer, the employee or by mutual agreement
| Voluntary Resignation | Involuntary Termination | Economic Layoff | |
|---|---|---|---|
| Notice Period - Probation | - No notice | - No notice | - No notice |
| Notice Period - Regular | - No notice - Collective agreements may differ |
- No notice - Collective agreements may differ |
- No notice - Collective agreements may differ |
| Severance Pay | - | - Salary paid till end of the contract's natural expiry date | - Salary paid till end of the contract's natural expiry date |
Public Holiday
- 12 days
2025
| Date | Name |
|---|---|
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 2 years After 10 years' service, 25 days for 5-day work week and 30 days for six-day week |
| Maternity/Special Maternity Leave |
17 weeks Can be extended up to 43 weeks |
All expectant mothers |
| Paternity Leave | 14 working days | All expectant fathers |
| Parental Leave | 4 months | All parents with 1 year service |
| Sick Leave |
1 month Employement from 4 - 10 years: 3 month Employement for more than 10 years: 4 months Employment for more than 15 years: 6 months |
All staff with 4 years' service |
Reference
- https://www.numbeo.com/cost-of-living/in/Athens
- https://ypergasias.gov.gr/en/social-security/insured-persons/insurance-contributions/
- https://www.usemultiplier.com/greece/employee-benefits-and-compensation
- https://www.kpsy.gr/index.php/publications/employment/24-greek-law-labour-law-in-a-nutshell
- https://ypergasias.gov.gr/en/labour-relations/collective-employment-relations/minimum-wage/
- https://ypergasias.gov.gr/ergasiakes-scheseis/atomikes-ergasiakes-sxeseis/lysi-symvasis-ergasias/
- https://www.dypa.gov.gr/en/epidoma-gonikis-adeias-1
Contact Info
-
Singapore (Headquarters)
8 Marina Boulevard, MBFC Tower 1, #11-01, Singapore, 018981
+65 6653 4334 -
China (Headquarters)
79 Jianguo Road, China Central Place Tower 2, #09-52, Beijing, 100025
+86 10 6580 0555 -
China (Service Center)
23 Dagong Street, Eton Place Tower 2, Unit 1808, Dalian, 116001
-
United States
445 S Figueroa St, 31st Floor, Los Angeles, California, 90071
-
United Kingdom
71 - 75 Shelton Street, London, England GB
-
Netherlands
Vijzelstraat 68, 1017 HL, Amsterdam
-
Australia
Level 22, Salesforce Tower, 180 George Street, Sydney, NSW 2000