Malta-based professional stresses importance of advertising salaries due to rising cost of living

A Malta-based iGaming professional and poker consultant, Bjorn Raake, has stressed the importance of advertising salaries in job listings so that candidates can understand if they are able to “survive”, when considering rising costs of living.

Providing a breakdown of average rents, cost of monthly bills and other essential expenses, and pointing out that not everybody working in iGaming in Malta is able to live with family – such as the expat community – Mr Raake said it is essential for candidates to understand what salaries are on offer for particular roles, so that they can make an informed decision on whether they can “survive” on such a salary.

“In Malta a €30,000 salary is €22,500 after tax,” he wrote on social media.

“The average apartment for a single person around €850, add €200 for all bills, €80 for fitness and €100 travel to work expense leaves you with €650 (not to mention the unpaid time spent before even arriving at work).

“If you can’t afford to live off €650 for food, shopping, personal bills/expenses, socialising and saving how is it acceptable to be asking 18-25+ year olds to have a degree relating to the field and 3+ years’ experience for that cost.

“Displaying a salary is SO important because of the breakdown above.

“Not everyone has the luxury of living at home whilst working in Malta. Who in society is actually deciding a starting salary and what criteria were considered?

“Advertise the salary so candidates know if they can survive off your ‘competitive’ salary, do not ask the potential candidate for his salary expectations, when you as an employer do not feel transparent enough to tell it.”

And, when considering the rapid inflation being experienced across a swath of essential items, with food prices rising the fastest, the public continues to experience a decrease in purchasing power. Indeed, April 2022 saw food prices in Malta increase by a staggering nine per cent when compared to the same period last year.

With Russia’s war in Ukraine wreaking havoc on international food and energy prices, and continued shipping disruptions causing further issues, it is not clear how long this situation will persist. Employers and employees alike continue to face increased pressures due to rising costs, and conversations such as the one raised by Mr Raake continue to take centre stage.