🌍 Average Salary Rankings in Europe: Which Countries Pay the Highest?

Taking purchasing power standards (PPS) into account, average annual full-time salaries across Europe reveal significant differences, even after adjustment for living costs. Euronews Business dives into the latest Eurostat data to uncover salary trends in 2023.

đŸ’¶ Key Highlights

EU Average Salary: €37,863 (adjusted for full-time work).

Highest Nominal Salary: Luxembourg - €81,064.

Lowest Nominal Salary: Bulgaria - €13,503.

Narrowed Gaps with PPS: Ratio of highest to lowest decreases from 6:1 to 2.5:1 after adjustment.

💰 Top Performers in Nominal Salaries

These countries exceeded €50,000 annually:

✔ Luxembourg (€81,064)

✔ Denmark (€67,604)

✔ Ireland (€58,679)

✔ Belgium (€57,989)

✔ Austria (€54,508)

✔ Germany (€50,988)

Other above-average performers include Finland, Sweden, and France.

📉 Lowest Nominal Salaries

Countries with salaries below €20,000:

Bulgaria (€13,503)

Hungary (€16,895)

Greece (€17,013)

Romania (€17,739)

Poland (€18,054)

Slovakia (€19,001)

Italy (€32,500) and Spain (€32,500) also fall below the EU average.

📊 Salaries Adjusted for PPS

PPS provides a fairer comparison by accounting for living costs.

Highest PPS Salary: Luxembourg (€53,745).

Lowest PPS Salary: Greece (€20,525).

Countries above €45,000 PPS:

✔ Luxembourg, Belgium, Denmark, Germany, and Austria.

✔ Ireland (€41,581) and France (€39,110) also outpace the EU average.

📈 Trends from 2022 to 2023

General Growth: EU salaries rose by 6% (€2,225 increase).

Biggest Growth: Romania, Hungary, Poland, Latvia, and Croatia (>15%).

Minimal Growth: Malta, Greece, Italy (<€1,000 increase).

Decline: Sweden (-€1,817 due to currency exchange).

🌟 Key Takeaways

Western and Northern Europe lead in salaries but face narrowing advantages in PPS-adjusted rankings.

Eastern Europe shows improvements in PPS but lags in absolute terms.

#MarketRebound