There are many reasons why people relocate to Austria, including affordable education, plentiful job opportunities, a high standard of living, and beautiful cities, among others.
However, you must know the current salaries on the market, so what is a good salary in Austria?
A good salary in Austria ranges between $2,132 and $3,199 per month, but anything above $3,682 is excellent. The figures translate to an annual salary of $25,584 to $38,388. Wages may be higher in major cities like Vienna, Salzburg, and Bregenz.
Figuring out how much you can make in Austria is difficult because Austrians hardly speak about the job markets and salaries.
This article highlights a good salary in Austria, the average wages, and the cost of living. It’s an ultimate read if you plan to relocate to Austria.
What is a good salary in Austria?
For a working individual in Austria, an annual income of about $25,584 ($38,388 after taxes) is considered a good salary. This income is between $2,132 and $3,199 per month.
With this amount, you can comfortably cover all your basic expenses.
According to salary analysts, the average salary for an Austrian is $4,560 per month or $54,720 per annum after taxes. However, you can earn more if you’re a project manager, software engineer, or CEO.
The most common annual salary in Austria is $50,287 before taxes. About 20 percent of employees earn at least $29,000, while 31 percent make between $43,544 and $62,892.
The minimum wage in Austria
The Austrian government has no regulations for minimum wages. However, according to the law, the least-paid employees should receive at least $1,578 per month.
The minimum wage was implemented via a collective agreement to ensure every employee would not be underpaid. This applies to all industries, although some don’t adhere to it.
All employees enjoy payment 14 times a year, including salaries for 12 months and two holiday allowances.
The average salary in Austria
Employees in Austria earn an average gross salary of $4,560 per month. This corresponds to an average annual salary of $54,720 before deductions.
This figure encompasses salaried employees and part-time employees, but full-time employees earn much more, especially those employed by the government.
The average salary is usually affected by working hours and an employer’s location.
For instance, full-time workers in Vorarlberg earn the highest income, while those in Tyrol earn the lowest salaries.
On the other hand, executives and specialist employees in Vienna make the most.
A deeper look into the trend of annual salaries in Austria for the last four years will confirm that you have a higher chance of enjoying a salary increase if you get a job here.
One factor that contributes to increased salary levels is healthy negotiations between the employers’ representatives and trade unions in Austria.
When compared to other European countries, the average Austrian salary looks good. For instance, the income for employees in Austria is in the top three member states, followed by Germany and Belgium.
Below is an overview of average salaries in different cities:
Which jobs in Austria have the highest salaries?
Austria has many career options, but it’s good to settle for one that pays well. If you want some insight into the highest-paying jobs, here is a brief overview of the five best-paying jobs in Austria.
1. Software engineer
These workers are needed in almost every sector in Austria. On average, a software engineer in Austria earns $6,225 per month. The salary may be more depending on the sector you work for.
2. Data scientists
Companies need help with data-keeping. Otherwise, tracking their performance takes a lot of work. This has led to the demand for data scientists in Austria and Europe.
If you’re skilled in this field, expect to earn at least $7,879 per month.
There are no specific working hours for surgeons; they can work during operative or off-hours.
Therefore, they are on the list of the highest-paid people in Austria. On average, a surgeon makes $8,291 per month.
Amongst the professionals in high demand in Austria are lawyers. They make a fortune, especially those with experience. If you’re a lawyer, you can earn $6,075 per month, excluding bonuses.
5. Marketing managers
Marketing is critical for any serious company that wants to dominate the market. Austria would be a perfect place to work if you have good marketing skills. Marketing managers are paid $5,730 per month.
How much do you need to live comfortably in Austria?
Generally, $2,100 per month is enough for a single person to live a comfortable life in Austria. This amount will cover all the aspects that make life comfortable, including:
- Buying quality food
- Eating out
- Annual vacations and weekly getaways
- Renting a one-bedroom house in a cozy suburb
- Saving between $106 and $210 per month
However, a family of four will need at least $4,200 per month to live comfortably in Austria. Below are expenses you can cover with the amount.
The cost of housing in Austria varies depending on location and the house size. Naturally, the rental cost in major cities is higher than in smaller towns.
For instance, you can pay $940 a month for a studio or one-bedroom apartment in Vienna and $314 for the same in Hallstatt.
The rental cost for a three-bedroom apartment is $1,415 per month. This size is ideal for a family of four.
Compared to other European countries, the Austrian government is committed to social and affordable housing, so you will only spend a little of your income on rent.
Buying food in Austria is expensive, so don’t be surprised when you spend a lot of money. This is more so for fresh fruits and vegetables, especially during winter.
That said, there are different places where you can buy food cheaper, especially on the outskirts of the city you live in. Be sure to search for them and save some money.
If you love feeding your family quality food, expect to spend $700 per month. Up to $500 a month is enough for an average meal without eating out.
Dining out in Austria is a costly undertaking. If you eat in an average restaurant, you can spend between $13 and $15. A three-course meal in a classic restaurant would cost between $52 and $84.
The prices will vary depending on your location, as restaurants in major cities are expensive.
Austria boasts a highly efficient transport system. A one-way bus ticket will cost $2, but you will pay more for longer trips, mostly between cities.
For instance, a journey from Salzburg to Vienna can cost between $21 to $63. If you need to save money on transport, I recommend buying a yearly ticket for $383.
Healthcare in Austria is universal and affordable. Most employees prefer public over private healthcare.
Public healthcare is funded by the monthly contributions of employers and employees, and it covers acute care, preventive treatment, and subsidized treatment.
The monthly contributions for employees are 7.6 percent of their income per month.
You can sign up for private healthcare as a replacement or supplement to public healthcare if you want a more comprehensive list of specialists, luxurious hospital accommodations, and quick doctor attendance.
Austria has various options for daycare services for parents with kids below five years old. The cost may vary depending on location and cost of living.
For a public daycare, the average you can pay is $70 per day, while the private ones charge at least $100.
Luckily, you can apply for childcare allowances offered by the government to reduce the cost of childcare. Alternatively, you can hire a nanny or have your older relatives take care of the kids.
Are there employee benefits in Austria?
You must understand the benefits you stand to enjoy as an employee in Austria. The country has statutory benefits to which every employee is entitled and paid by their employers as per the law.
Let’s look at these benefits in-depth.
The maximum overtime in Austria is 10 hours per week or two hours a day. However, this depends on job classification or industry.
The overtime can be extended to a maximum of 20 hours a week or four hours per day for professions like nurses that require a lot of standby duty.
Overtime is paid to employees either as time off or by cash at a rate of 50 percent.
All employees in Austria are entitled to an annual paid leave of 25 days. If you work for over 25 years, your annual leave is increased to 30 days of paid leave.
There are also 13 public holidays in the country which the workers are paid in full, apart from the 24 hours of rest. (This means you should not be called back to work before a day passes).
Employees working six days a week (Monday to Saturday) are entitled to 30 days of paid leave per year. This will increase to 36 days after working for over 25 years.
Maternity and parental leave
Women in Austria are entitled to maternity leave for eight weeks. The leave can be increased to 12 weeks if the woman and child are high-risk.
During maternity leave, women receive monetary benefits. They also enjoy benefits such as consultations with midwives and physicians and the provision of medical services and prescriptions.
Partners are also entitled to an early parental leave if they reside with the newborn child and the mother. You can take parental leave after the mother’s maternity leave ends, or the child turns two years old.
Pensions and retirement contributions
The pension contributions in Austria are shared between the employer and the employee. Employers’ contributions are tax-deductible expenses, while those of the employee are income-related expenses.
Austria’s pension system is divided into occupational, state, and private pensions. The eligibility pension age in Austria for men is 65 years, while it’s 60 years for women.
One must contribute for 15 years to enjoy a pension. You can also cash in before your official retirement date, but there’s a financial penalty.
Employees who work beyond the set retirement date receive a bonus depending on their pension system.
Additional benefits are the ones provided to employees by growth-focused employers. These benefits are meant to attract, motivate and increase productivity among workers.
Most are meant to enable workers to enjoy stability, security, and work-life balance.
There are various types of supplementary benefits that companies in Austria offer, and here are a few:
- Flexible working hours
- Private health insurance
- Phone and internet reimbursements
- Tuition or scholarship reimbursements
- Health and wellness benefits (gym memberships and wellness programs)
- Mentorship programs
- Meal and travel expenses
Taxation in Austria
All working residents in Austria must pay taxes on their income, whether from trade, employment, or properties.
The income tax is paid monthly; it’s directly deducted from the employee’s salary and depends on how much you earn.
The income tax rate is between 25 and 55 percent. However, you’re exempted from tax if your income exceeds $11,550.
You don’t need to file your tax returns if you have only one income in Austria since it’s directly deducted. However, you must file taxes through the online tax office portal if you’re self-employed.
The advantages of working in Austria
There are so many reasons why most people move to Austria every year. If you’re still wondering if relocation is a good idea, here are the advantages of working in Austria.
Healthy work-life balance
One of the things you are guaranteed in Austria is a healthy work-life balance. Austria has a strict work-related culture that defines the number of hours for employees every week.
Besides, most government policies are stringent on family support and labor forces. Weekends are meant for families and relatives, leading to a healthy social structure.
Enough support from employers
Employers in Austria understand that the support they offer their workers translates to productivity.
Besides, the country boasts solid social security and labor laws, so you will certainly be in safe hands as you work in the country.
Employers are expected to provide all the resources that guarantee the wellbeing of their employees. This includes the benefits I discussed earlier on.
High minimum wage
When deciding where to settle, one of the things you should consider is salary. Austria takes the trophy because it has the highest average and minimum salary, especially in Eastern Europe.
The least you can earn here is $1,600 per month in all sectors.
Additionally, the minimum wage in Austria covers the basic salary, bonuses, overtime compensation, and other incentives. This makes the work more appealing.
Obtaining a work permit is easy
A work permit is a must for anyone who wants to work in a foreign country. Luckily, Austria’s government offers it without struggle.
You will be given a work permit based on your circumstances, but if you’re a citizen of an EU country, you don’t need a work permit in Austria.
Getting a work permit will be easier if you’re highly skilled or trained. The immigration department favors people who can add value to the country’s job market.
A good salary in Austria is between $2,132 and $3,199 per month or $25,584 and $38,388 per year. This salary can cover all your basic expenses, and you can live comfortably, especially in small towns.
I hope this guide helps you plan your move well.