2024-09-16 10:56:31
A good salary can vary depending on one’s occupation, education and personal expectations. But let’s take a closer look at what constitutes a good salary in all major European capitals.
A good salary—and especially one that meets basic needs—depends on factors such as where you live, experience, education, industry, needs and lifestyle, according to Chris Chasteen, Director of Research at the ERI Institute for Economic Research. Chasteen points out that an above-average salary could be considered good.
In Germany
According to Talentup, an annual gross salary between 64,000 and 70,000 euros is considered a good salary in Germany. This translates to around €40,000 to €43,000 net per year or between €3,300 and €3,600 net per month for a single person.
Salaries tend to be moderately higher in Berlin compared to other German cities when looking at different occupations.
“While the cost of living in Berlin has risen in recent years, it remains more affordable than other major European capitals such as London and Paris,” Michael Stull, managing director of ManpowerGroup UK, told Euronews Business.
“Berlin offers mid-career professionals salaries between €40,000 and €60,000 gross per year.”
In the United Kingdom
HousingAnywhere reported that net average monthly earnings in the UK were £2,297 (€2,725). In 2023, with the cost of living at £1,950 (€2,314), an average monthly net salary of between £2,500 (€2,962) and £3,300 (€3,915) was considered a good salary in the UK.
Given that average gross weekly earnings in London were 23% higher than the UK average according to the ONS, a good salary in the capital should be at least between €3,643 and €4,815. However, it should be between €3,922 and €5,183 in inner London, which includes the City of London and 13 boroughs.
As salaries vary greatly by field, Michael Stull provided a wide range. “A good, representative gross salary for a mid-career professional in London is typically between £50,000 (€59,455) and £70,000 (€83,235) per year,” he said.
In France
Typically, a good salary for a comfortable life in France is around €3,200 per month for an individual or €5,600 per month for a family of three.
However, due to the higher cost of living in Paris, you will need around €3,400 per month to maintain a comfortable lifestyle in the French capital.
In Spain
According to HousingAnywhere, the average net salary in Spain in 2024 is €1,785 per month or €2,250 gross. For a comfortable living, a good monthly net salary in Spain is estimated to be around €2,700 for a single person or €4,000 for someone supporting a family.
Given that the average salary in Madrid is 18% higher than the national average, a good monthly net salary in the capital for a single person should be at least €3,185.
“A mid-career professional in Madrid can reasonably expect to earn between €35,000 and €55,000 gross per year,” said ManpowerGroup’s Stull. “Although lower than in London or Paris, this range is in line with the city’s more moderate cost of living.”
In Ireland
In Ireland, a gross salary of between €4,100 and €6,000 per month is considered good for a comfortable life, according to Instarem.
The average gross salary for full-time workers in the country is 3,220 euros per month.
The position of Athens
According to ManpowerGroup, a good salary for an employee with an average career is usually in the range of 35,000 to 50,000 euros gross per year. “Salaries in Rome are generally lower compared to northern European cities, but this is partially offset by the lower cost of living,” said Stull.
A good gross salary in Rome is usually between €3,750 and €5,690, according to Salary Explorer.
Salary Explorer provides estimates for a good gross monthly salary for other capitals as follows
- Athens: 2,250-3,410 euros.
- Helsinki: 4,510-6,830 euros.
- Copenhagen: 5,400-8,180 euros.
- Stockholm: 3,900-5,900 euros.
Historical transformation
Pawel Adrjan, head of EMEA research at Indeed Hiring Lab, also highlighted that the world is going through a historic transformation of work. “Our data shows that searches for remote and hybrid work are at or near historic highs in France, Germany, Spain and the UK,” he told Euronews Business.
Greater salary satisfaction in northern and western EU countries
The European Commission’s Directorate-General for Regional and Urban Policy’s 2023 survey on the quality of life in European cities reveals significant differences in household financial satisfaction across the EU.
The percentage of people who are satisfied with their household’s financial situation ranges from 39% in Athens to 87% in Luxembourg. Satisfaction is generally higher in cities located in northern and western EU countries.
With information from Euronews