Let s talk about money?

Pavel Smulski, Estonia

The youth in Estonia aspires to earn an average of 1900 euros net, with their salary expectations increasing much faster than other age groups, rising by 18% over the past year. These findings were derived from a labor market study conducted by the job portal CVKeskus.ee and the agency Palgainfo.

Five years ago, young people aged 16 to 24 aimed for an average salary of 1428 euros, which rose to 1614 euros last year. However, over the past year, youth expectations surged by a significant 18%, reaching the 1899 euro mark.

Salary expectations among the youth are escalating more rapidly compared to other age cohorts. For instance, salary expectations among individuals aged 25 to 34 increased by 6% over the year, while those aged 35 to 44 saw a 7% rise.

“Compared to other age groups, young people demonstrate greater self-assurance when it comes to requesting their desired salary,” noted Grete Adler, a personnel recruitment manager at CVKeskus.ee. She added that only 17% of the working population considers it likely to receive their desired salary in the near future, whereas among the youth, this figure stands at a confident 31%.

The median salary expectations among the youth amount to 1800 euros, with half aspiring to earn more and the other half aiming for less. This represents an increase of 300 euros compared to last year and 600 euros more than five years ago.

Currently, the average salary among the youth stands at 1364 euros. This signifies a gap of 535 euros between their desired and actual earnings. In comparison to last year, this gap has remained nearly unchanged, with a 27% difference a year ago and 28% now.

Kadri Seeder, the head of the Palgainfo agency, added that the youth are more optimistic about the possibility of salary increases. “45% of young people are confident that their base salary will increase in the first half of 2024. This is comparable to 30% across all age groups,” explained Seeder.