Austria stands out in an international comparison thanks to its very good level of wages. According to the latest OECD statistics, it is ahead of countries such as Denmark, Sweden and France and recently also ahead of Belgium and Germany. It is important to note that as a rule, the monthly salary in Austria is paid fourteen times per year.
An important benchmark used to measure the material prosperity of Austrian households is also the actual individual consumption (AIC), which is expressed as the purchasing power standard (PPS). This includes goods and services consumed by households, regardless of whether the households themselves, the state or charitable organisations pay for them. In this regard Austria is ranked fourth in Europe, surpassed only by Luxembourg, Ireland and the Netherlands.
Average salary in Austria
The average gross monthly salary varies slightly between EUR 1,773 in Tyrol and EUR 2,120 in Lower Austria. There are also minor differences with respect to purchasing power. The federal states of Lower Austria and Vorarlberg boast the highest purchasing power.
Special payments in Austria
In addition to the monthly salary, many companies make special payments to their employees, namely a 13th and 14th monthly salary, as well as holiday pay, holiday and Christmas bonuses. However, in contrast to vacation pay, in which the employee is also paid a normal salary during her or his vacation, there is no legal entitlement to these special payments. Nevertheless, in practice, the vast majority of employees benefit from these special payments on the basis of collective wage agreements.
Highest paid fields and occupational groups
A survey of skilled employees carried out by the online job platform Stepstone concludes that the following sectors comprise the highest paid lines of work: chemical and oil processing industry, IT & Internet, banking, energy and water supply and disposal and financial services
In terms of occupational groups, people working in finance and management boast the highest average salary in Austria, closely followed by IT.
With respect to job titles, project managers, lawyers and controllers are the winners. They are ranked first, second and third respectively in the list of people having the highest wages in Austria.
Living expenses in Austria
Mercer’s annual “Cost of Living Survey” compares living expenses in 209 large cities of employees sent abroad. The study takes account of factors such as rent, food, public transportation, recreational activities and clothing. Hong Kong, Tokyo and Singapore are the most expensive cities in the world for expatriates. Three Swiss cities, namely Zurich, Bern and Geneva, are the top of the ranking in Europe. Vienna is currently 51st in the world in terms of living expenses, thus significantly behind comparable European cities such as Copenhagen (20), London (23), Milan (45) and Paris (47).
Find the starting salaries for your occupational group here.