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Talent Wiki – Greece

Your quick guide on talent and labor compliance norms in Greece

Capital

Athens

Currency

Euro (EUR)

Languages

Greek, Macedonian, Albanian, Turkish

Payroll Frequency

Monthly

GDP per Capita

$23,538.79

Employer Tax

23.33% - 24.74%

Talent Overview

Greece is a developed country with an advanced high-income economy. As the largest regional investor in the Balkan region, Greece focuses on the service sector, which comprises 85% of the total economy. Service workers, professionals, technicians, and shop and market sales workers are in great demand. Tourism is the most significant sector providing jobs and contributing to Greece’s economy.

Major economic hubs:

Athens, Thessaloniki, Patras, Heraklion

Skills in demand:

Software Engineers, Medical practitioners, Accountants, Food processing, Language teachers, Shipping-industry related skills, Renewable energy sector skills.

Map 14

Local Universities

The top local universities in Greece are as follows:

Uni1 24

Aristotle University of Thessaloniki

Ranking

Local: 1

World: 403

Uni2 23

National and Kapodistrian University of Athens

Ranking

Local: 2

World: 449

Uni3 24

National Technical University of Athens

Ranking

Local: 3

World: 645

Uni4 23

University of Patras (incl. University of Western Greece)

Ranking

Local: 4

World: 844

Uni5 22

University of Crete

Ranking

Local: 5

World: 928

Salary Data

Some of the popular jobs in Greece and their monthly salary are as follows:

Job designation Average Monthly salary (EUR) Average Monthly Salary (USD)
Accountant 1,580  1,730
Software Engineer 2,190 2,398
Business Analyst 2,770  3,033
Sales Manager 3,890 4,260
Project Manager 2,710 2,968
Talentsource 53

Talent Sourcing Tips

Top Local Job Boards

Kariera, JobFind, Jobs in Greece

Number of LinkedIn users

2,198,000

Multiplier Recruitment Partner

iXceed

Employing in Greece

Labor laws in Greece follow the basic principle of equal treatment of employees, and any direct or indirect discrimination is strictly prohibited. Employers planning to hire from Greece need to manage payroll, benefits and compensation, taxes, leaves, and other regulated criteria for their Greek employees.

Employee Contract

Except for some specific cases, it is not mandatory to have an employment contract in writing. The employment details are documented, specifying the employer, employee, tenure, type of employment, and other conditions applicable to the employee during the working term in the organization. The information can be compiled in English and Greek (or any other local language) to ensure transparency and clarity on the terms and conditions.

Probation period

There is no statutory law for probation periods in Greece.

Public and Provincial Holidays 2024

Date Name Type
1 Jan New Year’s Day De Facto Holiday
6 Jan Epiphany De Facto Holiday
18 Mar Green Monday National Holiday
25 Mar Independence Day National Holiday
1 May Labour Day National Holiday
3 May Good Friday National Holiday
6 May Easter Monday National Holiday
24 Jun Orthodox Whit Monday De Facto Holiday
15 Aug Assumption Day National Holiday
28 Oct Ochi Day De Facto Holiday
25 Dec Christmas Day National Holiday
26 Dec 2nd Day of Christmas National Holiday

Employee Leaves

Type of leave Time Period Mandatory
Annual leave/Earned Leave Leave 20 days Yes
Sick Leave 30 days Yes
Maternity Leave 17 weeks Yes

 

Payroll

Payroll 1

Payroll Cycle

The payroll cycle followed is monthly.

Payroll 2

Minimum Wage

The minimum wage in Greece ranges from 713.00 EUR to 780 EUR/month.

Payroll 3

Overtime Pay

Greece follows a 40-hour working week, which can be either a five-day or six-day week. Overtime is restricted to less than 3 hours a day and not more than 150 hours a year. The overtime is compensated in Greece as follows:

Bonus

13th Month Pay

The 13th-month pay is mandatory in Greece and has to be paid on Christmas, Easter, and summer vacation.

Employee Benefits

  • Pension Fund
  • Health Care
  • Supplementary Insurance
  • Easter bonus
  • Holiday bonus
  • Christmas bonus
  • Vacation leave

Taxes

Employer Payroll Tax

Payroll item Tax contribution
Pension Fund 13.33%
Health Care 4.3%
Health in Benefit 0.25%
Supplementary Insurance 3.25%
Unemployment 1.2%
Professional Risk 1%
High Occupational Risk (industry-specific) 1.41%
Total Employer Cost 23.33% – 24.74%

Employee Payroll Tax

Payroll item Tax contribution
Pension Fund 6.67%
Health Care 2.15%
Health in Benefit 0.4%
Supplementary Insurance 3.25%
Unemployment 1.2%
High Occupational Risk (industry-specific) 2.2%
Total Cost on Employee 13.67% – 15.87%

Employee Income Tax

Income Tax Rate Corresponding Tax (EUR) Total Income (EUR) Total Tax (EUR)
First 10,000 9% 900 10,000 9,00
Next 10,000 22% 2,200 20,000 3,100
Next 10,000 28% 2,800 30,000 5,900
Next 10,000 36% 3,600 40,000 9,500
Above 40,000 44%

Solidarity contribution is included in the Income Tax Code and is calculated as below:

Annual Income Progressive Rate
0 – 12,000 0%
12,001 – 20,000 2.2%
20,001 – 30,000 5%
30,001 – 40,000 6.5%
40,001 – 65,000 7.5%
65,001 – 220,000 9%
Above 220,000 10%

VAT

The standard VAT rate in Greece is 24%.

Offboarding & Termination

The employer can terminate the employment contract by giving a notice or paying in lieu of notice. The employee can also terminate the contract by giving notice to the employer.

During the probationary period, the notice period is from 1 to 30 days, and for permanent employees, it ranges from one to four months.

In Greece, the severance pay depends on the employment term with the company. In case the employer does not give the necessary notice, the pay is doubled.

Visa and Immigration

For a foreigner to work in Greece for over 90 days, one must get a Type D visa. Also, a work permit has to be obtained within 30 days once the employee arrives in the country. Usually, work permits one year validity, which has to be renewed before 60 days of the expiry date.

Visa 54
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Payroll

Minimum Wage

Overtime Pay

Overtime Period Overtime Pay
From 41 to 45 hours of work in the case of five-day week and 41-48 hours of work for six-day week 20% premium rate of the normal hourly rate
More than 48 hours per week 40% premium rate of the normal hourly rate
Unlawful overtime, unnotified to labor inspectorate 120% premium rate of the normal hourly rate
Night hours 25% premium rate of the normal hourly rate

Visa & Immigration