articles | 01 July 2021

Average monthly earnings decline 3.3%

The average gross monthly earnings of Cyprus employees during the first quarter of 2021 reached €1,880 compared to €1,945 during Q1 2020, recording a decrease of 3.3%.

According to the Statistical Service, the average gross monthly earnings during the first three months to March, seasonally adjusted, are estimated at €1,961, recording a quarterly 1.7% drop compared to Q4 2020.

The amount calculated is the earnings paid by the employer and does not include any amount paid as an allowance by the government.

There was still a gender pay gap of over 16% between higher salaries for men and what women can expect to earn on average.

The average gross monthly earnings of male employees in Q1 2021 are estimated at €2,029, while for female workers, it was €1,702.

Compared to a year ago, male employees’ average gross monthly earnings declined 2.5% while those of female employees decrease by a higher 4.3%.

Average monthly earnings include the basic salary, the cost of living allowance, earnings for overtime, the Holiday Fund, any other allowances received by employees and payments in arrears.

Source: Financial Mirror

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