Over €5,500 per month: Which European countries have the highest wages

Thu, July 20, 2023 - 01:45

Switzerland and Luxembourg offer the highest wages (RBC-Ukraine collage)

Which European countries offer the highest wages? Such a question often captivates the minds of people who have been forced to relocate to other countries. RBC-Ukraine analyzed data on average wages in different European countries and reveals where you can earn the most.

Where in Europe are the highest wages: ranking

Switzerland often takes the top spot in most wage rankings in Europe (it should be noted that Switzerland is not part of the European Union). The average net wage after taxation in Switzerland is 5,542 euros per month. The country is considered one of the most prosperous in the world, and many highly skilled professionals dream of moving there.

In recent times, the country has been experiencing a shortage of skilled workers in various sectors of the economy. However, it is important to note that the cost of living in Switzerland is quite high. Nevertheless, the average net wage allows for a decent standard of living.

The main economic sectors in Switzerland include the banking sector, trade, industry, mechanical engineering, high technology, and pharmaceuticals, as well as the food, textile, and chemical industries.

The country has one of the highest GDP per capita, developed infrastructure, and great opportunities for career growth, especially for those who are proficient in one of the official languages: German, French, or Italian (the least widely spoken official language is Romansh).

Over €5,500 per month: Which European countries have the highest wages Photo: UBS - a Swiss global financial company headquartered in Basel and Zurich (unsplash.com)

Switzerland has a well-developed service sector. There are also many hotels and restaurants that are popular among tourists from around the world.

The second place in terms of wages is occupied by the small country of Luxembourg, located in Western Europe. The banking sector, industry, and steel production play a significant role in Luxembourg's economy.

The financial sector is particularly well-developed here. Luxembourg is home to over 200 banks and 1,000 investment funds, and many international companies open their offices here. This has a positive impact on the local job market and allows the country to attract skilled professionals from all over the world.

With its high GDP per capita, stable economy, and ample career opportunities, Luxembourg is considered one of the best countries in Europe for professional immigration. The average net wage in Luxembourg is around 4,358 euros per month. If you are a highly skilled specialist with valuable skills, you can earn significantly more in Luxembourg.

Minimum wage in European countries in 2023

Please note that if you do not speak the language of the country you have moved to or plan to move to, your chances of finding a job with an "average" wage are usually lower.

Finding work in your field as a foreigner in European countries is not easy. For example, if you have worked as a lawyer your whole life and then move to France or Germany, you will need to first study the local legislation and language, undergo retraining, and become proficient in the language. Diplomas obtained outside the EU by doctors also require re-examination and retraining.

Therefore, many people work in jobs unrelated to their main profession and often earn wages close to the minimum wage. Let's talk about the minimum wages in European countries.

According to the latest data from Eurofound, European countries can be divided into three groups based on the level of minimum wages. Group 1 includes countries where monthly wages range from 399 euros to 840 euros (Poland is in this group). Group 2 includes countries where wages range from 887 to 1,304 euros per month, while in Group 3 countries, one can earn over 1,700 euros per month.

Over €5,500 per month: Which European countries have the highest wages Photo: In Bulgaria, the minimum wage is the lowest among EU countries (unsplash.com)

Minimum wages in EU countries sometimes vary significantly. The difference between minimum rates sometimes exceeds 1,000 euros. The highest minimum wage in Europe is almost seven times higher than the lowest (Bulgaria - 399 euros, Luxembourg - 2,387 euros).

Europa Jobs provides minimum wage rates that apply in some European countries in 2023. The level of minimum wages may change, depending on decisions made in each country.

Group 1. Minimum wage

Bulgaria: 399 euros

Hungary: 579 euros

Romania: 606 euros

Latvia: 620 euros

Croatia: 700 euros

Slovakia: 700 euros

Czechia: 717 euros

Estonia: 725 euros

Poland: 746 euros

Malta: 835 euros

Lithuania: 840 euros

Group 2

Portugal: 887 euros

Spain: 1,167 euros

Slovenia: 1,304 euros

Over €5,500 per month: Which European countries have the highest wages Photo: In the Netherlands, you can earn from 1,900 euros per month (unsplash.com)