Ranking of European countries by salaries in 2024



Ranking of European countries by salaries in 2024

The issue of salaries in European countries is of interest to many expats. Learn more about average salaries in different European countries in 2024 and where you can earn the most

Order a consultation with a migration specialist to avoid unpleasant situations during the move
Order a consultation with a migration specialist to avoid unpleasant situations during the move

EU labour law is generally strict, focusing on individual working conditions and labour rights, including information standards, anti-discrimination laws and job security. 

However, salaries vary considerably across EU member states due to legislation, market conditions and inflation. In 2023, the average annual salary of employees in the EU was €33,500. The highest salaries were in Switzerland and the lowest in Bulgaria.

European countries with the highest salaries in 2024

Switzerland is recognised as one of the most prosperous countries in the world and attracts many highly skilled professionals. The average net salary after tax here is €5,542 per month. The main sectors of the economy are banking, trade, manufacturing, engineering, pharmaceuticals, food, textiles and chemicals.

Switzerland has a fairly high GDP per capita, well-developed infrastructure and great career opportunities, especially for those who speak the official languages of the country: German, French, Italian. It also has a well-developed service sector with a large number of hotels and restaurants for tourists.

Luxembourg ranks second in terms of salaries. The banking sector, industry and steel production play a major role here. The financial sector is well developed, with more than 200 banks and 1000 investment funds. The average net salary in Luxembourg is about 4,358 euros per month, and career opportunities attract many highly qualified professionals from all over the world.

What is the minimum salary in Europe in 2024?

Finding a job in your field of study in Europe can be challenging for foreigners due to the need to adapt to local legislation and language. For example, moving to France or Germany may require retraining and language learning. Foreign-born doctors also need to undergo checks and retraining to practice in EU countries.

Foreigners often work in jobs other than their main speciality and earn the minimum wage. For example, in Poland, the minimum wage ranges from €399 to €840 per month, while in Luxembourg, the figure is €2,387.

European countries are divided into three groups according to the level of the minimum wage. In some countries, people earn between 887 and 1304 euros per month (belonging to the second group), while in other countries, you can get more than 1700 euros per month (the third group). The lowest minimum wage in Europe, at 399 euros, is almost 7 times lower than the highest in Luxembourg (2387 euros).

The Europa Jobs report provides up-to-date data on minimum wages in different EU countries in 2023. These figures may change depending on the decisions taken in the countries regarding socio-economic issues.

Group 1:

1. Bulgaria: 399 euros;

2. Hungary: 579 euros;

3. Romania: 606 euros;

4. Latvia: 620 euros;

5. Croatia: 700 euros;

6. Slovakia: 700 euros;

7. Czech Republic: 717 euros;

8. Estonia: 725 euros;

9. Poland: 746 euros;

10. Malta: 835 euros;

11. Lithuania: 840 euros.

Group 2:

1. Portugal: 887 euros;

2. Spain: 1167 euros;

3. Slovenia: 1304 euros.

Group 3:

1. France: 1709 euros;

2. Ireland: 1910 euros;

3. Netherlands: 1934 euros;

4. Belgium: 1955 euros;

5. Germany: 1981 euros;

6. Luxembourg: 2,387 euros.

For safe relocation to any country in the world, obtaining citizenship and employment, use the advice of an international lawyer. We help to solve complex and simple issues for your comfort and safety in any part of the world. 

Comparison of European countries by salary level in 2024

According to the European Statistical Office, this indicator is used to determine the average annual salary in all countries of the European bloc, as well as to grant work permits to qualified employees who are attracted by EU countries on more flexible terms, including expanded rights and the possibility of mobility.

This indicator is an important tool to facilitate relocation to another Member State for all Blue Card holders, which is a key EU initiative to attract talented professionals from around the world.

The methodology for calculating this indicator is based on a combination of national accounts and Labour Force Survey (LFS) data. It is important to note that the data is adjusted for part-time workers, who are paid as if they worked full-time, i.e. 40 hours per week.

This indicator is adjusted for the level of prices and taxes in different EU countries, as it reflects the real purchasing power and financial conditions of employees in different parts of the European Union. This approach allows for more accurate comparisons of living and working conditions between EU countries for migrants and migrant workers.

The countries with the lowest annual wages are:

1. Bulgaria: 10300 euros;

2. Hungary: 12620 euros;

3. Romania: 13000 euros;

4. Poland: 14430 euros;

5. Greece: 15880 euros;

6. Slovakia: 16160 euros;

7. Croatia: 16170 euros;

8. Czech Republic: 18710 euros;

9. Portugal: 19300 euros.

Experts ranked the following countries with an average annual salary of 20,000 to 30,000 euros:

1. Estonia: 21,480 euros;

2. Lithuania: 21'740 euros;

3. Cyprus: 22'730 euros;

4. Malta: 27330 euros;

5. Spain: 28'180 euros;

6. Slovenia: 28'760 euros;

7. Italy: 29'950 euros.

Luxembourg stands out among EU countries for its high average annual salary, making it the richest country in Europe. Denmark and Ireland are also known for their high annual salary rates: €63260 and €50350 respectively. In Belgium, Austria and Sweden, the average annual salary ranges from €48,720 to €46,930. In Germany, Finland and France, the figures are €44,440, €43,190 and €40,130 respectively.

According to the latest report, EU member states have taken steps towards raising the minimum wage, in particular under the EU Blue Card, which requires a minimum wage for workers from third countries. Germany raised the minimum wage for first-time applications and renewals, raising the annual wage for non-scarce occupations to €56,800 from €55,200. For shortage occupations, this figure is 44,304 euros from 43,056 euros. The Netherlands has also increased the annual salary threshold for 2022 from €5,403 to €5,567.

These changes in the minimum wage reflect a trend towards better working conditions for migrants and other foreign workers in the European Union. Increasing wages helps to ensure greater financial stability and improve the quality of life of workers joining the EU labour market.

Igor Usyk - Head of Migration department at VisitWorld

To ensure a safe move to a new country, I advise you to consult a specialist. My colleagues, qualified specialists with a legal education, will help you avoid unpleasant situations during migration.

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