As we're getting closer to the end of the year, you're perhaps among those who are assessing their career and planning for the future. If you're looking to enjoy a higher standard of living and higher wages, moving abroad can be the answer. Below is an overview of the European countries offering the highest salaries.
Denmark
Denmark is world-famous not only for its quality of life and flexible work culture but also for its work-life balance. No wonder it has become a popular expat destination over the years. Job opportunities are abundant in a range of fields including pharmaceuticals, healthcare, engineering, education and information and communication technologies. Denmark is also home to many renowned companies like Lego, Ecco and Pandora. By choosing to work in Denmark, you can expect a gross salary of US $ 2,400. However, personal income tax is high (55.80%). There's no minimum wage in Denmark, but the hourly rate is US$ 16. In Copenhagen, for example, the average net income is US$ 3,000.
Luxembourg
Luxembourg has a cosmopolitan atmosphere which makes it one of the most attractive destinations for foreign professionals in Europe. It's worth noting that nearly 60% of the population of the population comes from 143 different countries. As a financial hub due to the presence of many multinational and local companies, Luxembourg is a job pool that offers many benefits including high wages. By working in Luxembourg, you can earn US$ 2,396.9 per month on average. The country also has one of the lowest income tax rates in Europe (42% maximum) coupled with a high standard of living.
Sweden
Sweden stands out for workers rights, equality, innovation and its inclusive social security system. In past years, it has become one of the top expat destinations, especially for work. Relying mainly on finance, telecommunications and technology, Sweden has a prosperous economy and open labour market where foreign talent is much needed. Wages are high even though there's no minimum wage in Sweden, like in other Scandinavian countries. In general, salaries are negotiated between employees and trade unions. For example, a fast food chain cashier earns around US$ 13.56 per hour. On average, you can make around US$ 2,500 in any big city.
Finland
Besides its unparalleled quality of life and flexible work culture, Finland also offers high wages. Currently, there's no minimum wage in Finland, but employers are required to pay the amount defined through negotiation with trade unions. Today, you can earn US$ 3,920 on average. Finance control and strategy are currently the best-paid jobs with an average salary of US $ 107,000 per year while ICT professionals and software developers earn around US$ 58,000 per year. Marketing and communication is another well-paid field with an average salary of US $ 82,000 per year. Those specialising in financial services can earn an average of US $ 78,000 per year. Also, Finland is a generous country regarding paid leaves. Besides 12 bank holidays, employees having worked for at least one year with the same employer are eligible for 30 paid leaves per year including four weeks of summer vacation and one week of winter vacation.
Ireland
If you're looking for new job opportunities abroad, Ireland might not seem appealing to you due to its unstable past with an unprecedented economic downturn. Today, however, Ireland can be the ideal place to work in – attracting international students and professionals from around the world in large numbers. The country has a growing economy and a quite low unemployment rate (6%). Opportunities are available in a range of fields including tourism and hospitality. ICT is another field where the need for foreign talent is high. From 2015, the minimum wage in Ireland rose by 3.2% to US$ 10.83 per hour. You can thus expect an average salary of US $ 1,830 per month.
Austria
As one of the wealthiest and most developed economies in Europe, Austria is also a generous country when it comes to wages. Besides, the country is world famous for its quality of life and high standard of living. Today, workers in Austria can earn a minimum of US $ 1,500 per month while the average wage is about US$ 3,001 per month. Executive management and change are currently the best-paid positions with an annual salary of US $ 101,000 on average. Those specialising in finance can earn between US$ 83,000 and US$ 93,000 per year while IT professionals earn US$ 59,000 per year on average. It's also worth noting that according to Austrian labour laws, employees are paid not 12 times but 14 times a year! The 13th month is paid by the end of June and the 14th month by mid-November. Besides, income tax applies on the 13th and 14th months at a rate of 6% only.
