Analytics, EU – Baltic States, Financial Services, Lithuania, Markets and Companies, Wages

According to the deputy speaker of the Seimas, it is necessary to take actions to reduce the gap.

Sysas said that managers in Lithuania receive higher salaries than Latvian and Estonian managers. According to him, if Lithuania does not try to reduce the gap, soon it will be lagging behind all the countries.

In addition, the deputy parliament speaker encourages employees to do not accept the present situation and to fight for their wages. According to him, very often employees see no point in fighting for their rights, and this, in his opinion, is only one more reason to "buy a one way ticket" and to emigrate.

Sysas says that a paradoxical situation occurs in the country, when profitability of companies exceeds the one before the financial crisis in 2008, meanwhile salaries remain to be lower than salaries before the crisis.

"Profitability is growing, labour productivity is increasing, while salaries are barely rising. We have already exceeded the profitability of 2008, yet not the salaries. Then who takes the money? It means that the money is taken by a portion of owners and shareholders, who pay large salaries to top managers," said Sysas.

As reported, this week global management consultancy Hay Group announced that the salary of an employee in Lithuania is averagely 7.4 times lower than the salary of a manager.

Meanwhile, in the United Kingdom this indicator is 3.4 times, in Estonia – 6.2 times and in Latvia 5.9 times.