New Minimum Wage in Greece: What Employers and Employees Need to Know

Effective April 1, 2024, Greece introduced new minimum wage regulations to ensure fair compensation for all workers. These changes are crucial for both employers and employees to understand, as they set the baseline for wages and influence payroll practices across the country.

Minimum Wage Breakdown

Under the new regulations, the minimum wage in Greece is set at EUR 830 per month for white-collar workers and EUR 37.07 per day for blue-collar workers. White-collar workers are typically located in office environments and include clerical, administrative, managerial, and executive roles. Individuals in these roles usually receive an annual salary. Blue-collar work often entails manual labor, with workers being compensated either hourly or based on piecework. This minimum wage update is part of an ongoing effort to provide adequate compensation that aligns with the cost of living and economic conditions.

Compliance with Wage Standards

It is important to note that individual labor contracts and collective labor agreements must adhere to these minimum wage standards. This means that any full-time employment agreements cannot offer a monthly salary below EUR 830, and part-time salaries must be proportionally adjusted to meet this threshold. The same principle applies to daily wages for blue-collar workers, ensuring that no worker receives less than EUR 37.07 per day.

Payroll Frequency Requirements

Greek labor law mandates that salaries be paid at regular intervals, which are determined by the individual employment contracts.

Implications for Employers

Employers must carefully review and adjust their payroll systems to comply with these new minimum wage requirements. Employers must stay informed and compliant with these changes to foster a fair and productive working environment.