More than a quarter of young people in Estonia find that their monthly income should be between 1,500 and 2,000 euros in order to cover their monthly needs, a survey conducted by SEB indicates.
“A quarter of young people said in the survey that with their existing skills and knowledge, a fair salary for them would be 1,500-2,000 euros. Just over 20 percent said that their needs would be covered by a net income of 2,000-3,000 euros. Seventeen percent of young people were of the opinion that they could also make do with a net salary of 1,000-1,500 euros,” Victoria Tkatš, project manager at SEB’s private client segment, said in a press release.
The youngest respondents in particular considered lower incomes to be sufficient to cover their monthly needs. One in five 18 to 22-year-olds said that an income of 500-1,000 euros was enough for them, while only 8 percent of 23 to 25-year-olds thought the same, and 7 percent of 26 to 29-year-olds
Only 7 percent of young people estimated that they would have to earn more than 3,000 euros per month to get their needs covered.
“Rising prices and high inflation have undoubtedly also affected young people. We see that many young people than earlier have taken up employment alongside their studies in order to better handle their daily expenses,” said Tkatš.
Of the young people interviewed for the survey, 60 percent are in employment, and nearly 30 percent said that their income is less than 1,000 euros per month after tax. Only 15 percent of the respondents earn more than 2,000 euros a month.
“Although the salary expectations of men and women do not differ a lot, women have to make do with less. It is notable that among young people earning over 1,000 euros, there are more men than women. More than half of men earn such an amount, compared with 7 percent fewer women,” Tkatš said.
The survey was conducted by pollster Norstat in July 2024, with 400 young people aged 18-29 interviewed.
Source: BNS
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