Here is the average salary in Germany, the highest-paid jobs, and the salary differences compared to the United States.
Among the most powerful nations in the world, many harbor the desire to move to beautiful Germany and start a new chapter of their life. Starting from the solid economy to an excellent job market, there are many reasons to live in this country.
But how much do you earn and what are the highest paid jobs? And, above all, what are the differences with American wages? Here’s what you need to know about it.
Average salary in Germany: here’s how much you can make (including minimum wage)
Based on the provisions of the minimum wage law, the so-called "Mindestlohngesetz", a minimum wage of 12.41 euros per hour (13.56 USD) before taxes is in place since January 1st, 2024. From January 1st, 2025, the amount will be increased to 12.82 euros per hour (14 USD) before taxes.
Going into detail, according to the IMF report published in April 2024 and which collects data from 2023, the average hourly wage in Germany is equal to 31.6 euros per hour (34.54 USD).
According to a study by the Institute for Economic and Social Research of the Hans Böckler Foundation, the south is more prosperous than the north while the west is richer than the east. Furthermore, income differences can be very marked in different districts and cities. For example, the city of Heilbronn, in Baden-Württemberg, has an average per capita income of 42,275 euros (46,207 USD) and is considered the richest place in Germany. Next, we find the city of Starnberg, with an average income of 38,509 euros (42,090 USD). The last places are instead occupied by Gelsenkirchen and Duisburg, which have average per capita incomes whose value does not even reach half of the two locations mentioned above.
The gap between East and West seems to be a constant in the German way of life. However, there is an exception, namely the Potsdam-Mittelmark district which turns out to be the only one in the east with a per capita income higher than the national average.
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Highest paid jobs in Germany
Excluding jobs as professional footballers, artists, or influencers, the most profitable jobs in Germany are: doctor, pilot, and sales manager. In particular, doctors have an average salary ranging from 72,000 euros to 101,000 euros per year (78,700 - 110,000 USD). Pilots earn on average around 94,000 euros per year (103,000 USD), while sales managers earn around 83,000 euros per year (90,700 USD). All three professions, therefore, allow you to take home salaries that are close to 10,000 euros per month (11,000 USD) including bonuses.
The sectors that offer the highest salaries are highly specialized, such as technical, engineering, medical, IT, finance, and management.
Among the most profitable jobs, which can bring home over 55,000 euros per year (60,000 USD) are: lawyer, portfolio manager, engineer, software developer, project manager, manager, and risk expert .
Furthermore, according to a study by Deutsche Welle, these are the ten best German cities for living and working conditions:
- Munich. A city known for the presence of excellent infrastructure, the high quality of life is the result of the presence of many companies, starting with the BMW automotive industry.
- Wolfsburg. The automotive industry plays an important role here too. Suffice it to say that it is home to the Volkswagen headquarters.
- Ingolstadt. This location is also home to a car manufacturing company, namely Audi. Salaries in the area are particularly high, just think that resident workers can earn up to 50,000 euros a year (55,000 USD).
- Erlangen. In this wealthy city, less than 3% of residents receive state benefits, which is the lowest percentage in Germany.
- Stuttgart. Here we find major car manufacturers such as Mercedes and Porsche, but also the electronics and engineering giant Bosch.
- Regensburg. The inhabitants of this city record a per capita GDP income of 75,000 euros (82,000 USD).
- Berlin. The modern and creative environment favors the development of the information technology sector.
- Frankfurt am Main. The third most productive city in the German state, it is an important real estate and banking center that offers various job opportunities to young people.
- Leipzig. Known for offering interesting employment opportunities, in recent years important companies such as Porsche, BMW, and DHL have laid the foundations in this city.
- The cities of the Ruhr. Among the strongest regions in Germany, many of Germany’s largest companies are located right in the Ruhr industrial area. After having been flourishing for many years, however, the area’s economy is experiencing a period of crisis, complete with an increase in the number of unemployed.
Germany vs US: how does America compare to Europe?
As we have already seen, the city of Heilbronn is the richest in Germany, with an average per capita income of 42,275 euros. By comparison, the average annual salary in the United States is equal to 63,795 USD before taxes. The average annual remuneration of managers is equal to 103,418 euros before taxes. For the middle level, the average salary is 76,474 USD before taxes. It is therefore easy to deduce how in the United States salaries are on average higher than those paid in Germany.
However, how is Germany compared to the rest of Europe? Well, according to the IMF report published last April 2024 which collects data for 2023, Luxembourg is positioned at the top of the ranking of the states with the highest salaries, thanks to an average salary of 47.2 euros per hour (51.59 USD). Next, we find Denmark and Norway, which record 42 and 41.7 euros per hour respectively (45.91 and 45.54 USD). In Iceland there is an average hourly salary of 39.5 euros (43.17 USD), in Belgium 36.3 euros (39.68 USD), while Ireland and the Netherlands have an average salary of around 33 euros an hour (36.7 USD). In Germany, as already mentioned, the average salary stands at 31.6 euros per hour.
The average salary of the German state, therefore, is not among the top places. It is slightly higher than Finland, with 30.5 euros per hour (33.34 USD), and Austria, with 30 euros per hour (32.79. In France the average salary is 28.7 euros per hour (31.37 USD), while Italy records an average salary of 21.50 euros (23.5 USD).
Original article published on Money.it Italy 2024-07-17 17:21:46. Original title: Quanto si guadagna in Germania? Lo stipendio medio aggiornato
