▎Salary Rankings in Europe: Which Countries Offer the Best Compensation?
When evaluating average annual full-time salaries across the EU, considering purchasing power standards (PPS) reveals narrower gaps than when looking at nominal figures, although significant differences still exist. Euronews Business takes a closer look at this topic.
Have you ever considered which European nations offer the highest salaries? Or how your earnings compare to those of others within the EU? Given the wide variation in living costs, how does your salary measure up when adjusted for purchasing power?
There are multiple ways to assess salaries and earnings, but Eurostat's latest metric—the average annual full-time adjusted salary per employee—provides particularly relevant insights. This figure is derived from the average gross salary for full-time positions.
As of 2023, Eurostat reports that the average annual full-time adjusted salary ranges from €13,503 in Bulgaria to an impressive €81,064 in Luxembourg, with the overall EU average sitting at €37,863. Notably, nine EU member states have average salaries that exceed this EU benchmark, while 17 countries fall below it. It's important to mention that data from the Netherlands is excluded due to methodological differences.
In addition to Luxembourg, five other countries report adjusted average salaries above €50,000: Denmark (€67,604), Ireland (€58,679), Belgium (€57,989), Austria (€54,508), and Germany (€50,988). Finland, Sweden, and France also surpass the EU average.
On the lower end of the spectrum, Bulgaria is followed by Hungary (€16,895), Greece (€17,013), Romania (€17,739), Poland (€18,054), and Slovakia (€19,001), all reporting annual salaries below €20,000.
▎Average Full-Time Adjusted Salary per Employee (2023)
Italy and Spain also fall short of the EU average, with annual salaries around €32,500. This data highlights the varying economic landscapes across Europe and underscores the importance of considering purchasing power when evaluating salaries in different countries. As such, understanding these figures can provide valuable context for anyone interested in working or relocating within Europe.
Italy and Spain also fall short of the EU average, with annual salaries around €32,500. This data highlights the varying economic landscapes across Europe and underscores the importance of considering purchasing power when evaluating salaries in different countries. As such, understanding these figures can provide valuable context for anyone interested in working or relocating within Europe.
blogpay
Total Comments: 0