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Basic wage in Latvia has grown by almost 4 percent in 2015

  • 2015-08-27
  • BNS/TBT Staff/RIGA

According to an annual survey by consulting firm, Fontes, 2015 has seen the monthly basic wage in Latvia rise by 3.7 percent, while the total annual wage rose by 5.5 percent.

For 52.8 percent of workers, the monthly basic wage had not changed. For 0.3 percent of workers, their wage was reduced, while for 46.9 percent of employees, the basic wage was raised. On average, the rise amounted to 6.3 percent.

The study also found 71 percent of employees saw the variable part of their wages grow, with an overall growth of 8.5 percent. However, one in four workers, 24.5 percent, felt their total wage decline by an average of 5.5 percent.

Fontes spokesperson, Inga Gleizdane, said monthly and quarterly bonuses are the most common variable part of wages, with 59.2 percent of employees having received such bonuses so far this year.

However, semi-annual and annual bonuses for the previous working year have also become increasingly popular with 50.2 percent of employees benefiting, in comparison to 46.3 percent in 2014.

The monthly basic salary in the Latvian capital, Riga, has grown faster than in other regions in the country - 3.7 percent compared to 3.4 percent.

The total salary rose by 5.4 percent in Riga, and 6 percent in other regions. 

Comparing salary growth in regions, the basic salary rose faster in Latvia's center-north Vidzeme region, by 3.9 percent.

However, the total salary rose faster in the western Kurzeme region and southern Zemgale region, by 6.9 percent and 6.2 percent respectively.

The survey showed 93 percent of organisations planned to increase their monthly basic wage over the next 12 months, but 7 percent did plan to change the monthly basic wage. 

None of the surveyed employers plans to reduce wages

Fontes analyzed more than 37,000 employees from 200 companies.

Established in 1996, Fontes is the largest consulting company in the Baltics.

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