# Revealing evidence of wages at the Bank of Greece
The 2,017 employees of the Bank of Greece are in the wage penthouse with average annual earnings of 94,200 euros mixed, according to the financial report of 2025. The increases were launched at 10.92% last year, due to the Operational Convention 2024-2027 and the Sectoral OTOE Convention. On the other hand, Commander Giannis Stournaras has maintained reduced earnings since 2014 to EUR 210,000 per year. In commercial banks, average wages range from EUR 36,389 (Eurobank) to EUR 51,196 (Optima Bank), significantly below the central bank.
Analyticalally:
Some of those who have a more sophisticated perception of things say that «Pay is the price to forget your dreams»...
However, in the pedestrian and particularly demanding everyday life, several of those who make up the country's workforce will probably dream of the payroll of the bankers. Although for bank employees it is said sarcastically that « They see too much money every day, but not in their... bill.».
1
In any event, information from the information system «Ergan» indicate that the average full-time wage in the private sector is EUR 1,516 per month gross. As a result, EUR 21,224 per year, based on the payment of 14 salaries.
In the banking sector, where some 30,000 people are employed in Greece, average wages are significantly higher. At least this results from the official financial data, which are not entirely comparable in all cases, but are an indicative measure for assessing the scale of remuneration.
Again, however, the remuneration of the employees in the commercial banks is very low compared to what the employees of the Bank of Greece receive, which in fact are in the wage penthouse.
With a special and separate status defined by the independent body of the central bank of the country, 2,017 employees in the T.T.A. largely follow the pace of the Eurosystem in their wages.
According to the bank's own reports, last year's average earnings increases increased to 10.92%. Following the rise by 6.64% in 2024 and 3.43% in 2023.
How to explain the leap in earnings
T.T.E. says that last year's high upward adjustment of payroll is due to: the application of the three-year Operational Convention (2024-2027) , the Sectoral OTOE Convention, service promotions and maturities, the full integration of contract employees into the Bank's main staff, the one-off effect of administrative reorganisation, as well as overtime employment due to increased service needs.
The annual financial report for the year 2025 shows that EUR 242.9 million was allocated for staff remuneration and other benefits. This heading obviously includes employers' contributions of 21.79 % and is estimated at EUR 52.9 million. The remaining EUR 190 million, directed at the total staff of 2,017, refers to average gross annual earnings of EUR 94,200.
They imagine zealots from the moment the real data is echoed, but it is understandable if it is taken into account that T.T.E. has high-skilled employees and also large wage maturation. As no voluntary withdrawal program has been implemented in the Central Bank, which would in fact differentiate the mix of remuneration.
It is typical that about 1,000 employees in the bank are between 50 and 60 years of age, while about 250 employees are between 40 and 49 years of age, and the remaining 250 are from 20 to 39 years of age.
The most important factor for the rise of wages is the Operational Convention, implemented in four stages (in July 2024 and January 2025, 2026 and 2027) and according to the workers' union leads to actual 6% increases per year...By reducing to three years, including compounding.
If, of course, the gross earnings are deducted from the employee's insurance contributions ( 13.77%) and the scale taxation , they remain purely EUR 53,588 per year, some EUR 3,827 per month. These naturally average and with multiple variations per case.
The fees of Giannis Stournaras have been frozen for years
The remuneration of the employees of T.T.E. may follow an impressive upward course (to the point of causing reasonable questions) but, on the other hand, Governor Giannis Stournara's fees have been found for years, on his own initiative, pinned to low levels. Compared to the upgraded remuneration of senior executives in the financial sector and listed companies.
Typically the institutionalized mixed fees for the Governor of T.T.A. amount to 420,000 euros a year. During the period of the memorandums and fiscal crisis in the country, George Provopoulos, had made a voluntary reduction in his wages by 50%.
Since June 2014 when Giannis Stournaras took over the administrative reins of the central bank of the country, he maintained the same, reduced level of remuneration. Thus, despite the fact that the Greek economy has entered the virtuous cycle of development, he continues to receive 210,000 euros per year gross, corresponding to around 109,500 euros net. When CEOs pay large companies, they are now six to nine times larger.
It is also characteristic that in the Bank of Greece there are no extra fees and bonuses for achieving goals, nor are there any free share programmes.
Even with regard to the members of the General Council of T.T.E., the amounts of the fixed compensation of EUR 400 per month, EUR 30 per meeting and EUR 60 travelling to those entitled to them remain frozen since 2022.
The puzzle of fees to other banks
Regardless of all this and in terms of wage data in commercial banks, there are different levels of reading. Because the information that is published once relates to the employees at parent level and once in the group, where as a rule the remuneration of subsidiaries' staff is lower. Also, the gross income of employees is taken into account not only conventional or extra financial benefits, but also employer contributions to savings and health insurance programs. Considered as quasi-money, but not having similar characteristics for all banks.
Judging on the basis of what is stated in the 2025 remuneration reports, which are submitted for voting at the forthcoming general meetings, Optima Bank is in a driving position. As the bank itself reports, last year's average earnings for its 591 employees amount to the gross amount of EUR 51,196. You were raised by 6.49%.
In the National Council with 6,700 employees in Greece and 1,200 others abroad, the average fees last year amounted to 47,318 euros gross. Increased by 5.69% and excluding pension-related amounts.
In Piraeus Bank, with 8,100 employees and 8,472 at group level, average gross earnings amounted to 45,380 euros last year. Enhanced by 4.52%. These notified fees include salaries, other staff costs and pension benefits charges.
Eurobank as a group with an expanded presence abroad has 12,400 employees of which about half are employed in the Bank's activities in Greece. The average, mixed fees were set last year at 36,389 euros showing a 5% reduction. No further explanations are given to them, although they appear to be remunerations at group level and possible differentiated characteristics.
Alpha Bank has not yet released its 2025 remuneration report, when it had 5,882 employees in Greece and 6,669 as a group along with activities abroad. Last year's figures showed that in 2024 the average earnings of employees amounted to the gross amount of EUR 48,249. However, taking into account employer contributions, pension schemes and health insurance schemes. Without the additional, the remuneration would obviously be significantly lower.
Read also:
Papaioannou brothers lead Interkat to «Elite» construction
Middle East crisis: How the Greek consumer is shielded – What IELKA's research says
KORA: Maria Alafuzou's oven that divided Philothei
