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Lietuva
1. I. INTRODUCTION
Workers' remittances and compensation of employees; received in Lithuania was
last measured at 4.56 in 2011, according to the World Bank. Workers' remittances and
compensation of employees comprise current transfers by migrant workers and wages
and salaries earned by nonresident workers. Data are the sum of three items defined in the
fifth edition of the IMF's Balance of Payments Manual: workers' remittances,
compensation of employees, and migrants' transfers. Remittances are classified as current
private transfers from migrant workers resident in the host country for more than a year,
irrespective of their immigration status, to recipients in their country of origin. Migrants'
transfers are defined as the net worth of migrants who are expected to remain in the host
country for more than one year that is transferred from one country to another at the time
of migration. Compensation of employees is the income of migrants who have lived in
the host country for less than a year.
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2. II. COMPENSATION STRUCTURE
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Wages of cash
Cost of
labors
Cost of
labors
Cash
Wages
Besides
Monthly wages
Annual bonus
Legal welfare
expenses
Non-welfare
legal
expenses
Retirement
payments
Education
Recruiting
expenses
Others
Health insurance
Employee pension
Unemp. insurance
Others
Housing
Health insurance
Meals
Culture
Others
3. A. MONTHLY WAGES
Average monthly wages in Lithuania in the fourth quarter 2012 were 2,232 litas, the
equivalent of 647 Euros, Lithuania’s statistical office reported on Feb. 25, informed bbn.ee.
This was 2.6% higher than a year earlier. Quarter on quarter, average monthly wage was up
2.8%.
Average real monthly wages were up 2.4% from Q3, but fell 0.4% year on year. Average
net monthly income increased 2.5% in a year and 2.6% in a quarter to 1,730 litas (502 Euros).
It was not clear from the Statistics Office, approximately what percentage of the
population actually earned such a salary but from their press release, it could be inferred that
such salaries are mainly received by those working for the public sector.
Lithuania has the fourth lowest minimum wage in the EU – 289.62 Euros and one of the lowest
tax ratios (30.3% of the GDP) in Europe.
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5. Generally the Compensation system of Lithuania is not very varied than other European
countries because of similarity of economic structure. However the similar structure for a
country is more useful for Baltic countries. Here we analyzed what kind of compensation is for
Lithuania.
Firstly we observed about structure of Compensation. Personal compensation of
employees. Personal transfers consist of all current transfers in cash or in kind made or
received by resident households to or from nonresident households. Personal transfers thus
include all current transfers between resident and nonresident individuals. Compensation of
employees refers to the income of border, seasonal, and other short-term workers who are
employed in an economy where they are not resident and of residents employed by
nonresident entities.
IV. REFERENCES
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