The high quality of life in the European Union prompts people from all over the world to look for jobs and settle down there. If you are looking for jobs in the European Union, then having a basic idea of the best possible salary that you can get in that area with your skills and expertise is necessary. A fair idea of the cost of living in the country where you are looking to move is also an added advantage. Read on to find out more about salaries and the cost of living in various countries of the European Union.
Factors Determining Your Salary in the EU
Like everywhere else, your experience is the biggest factor in determining your salary in EU. According to many studies, people who have an experience of two to five years get about 32% raise in the salary of beginners. The percentage of increase in salary rises to 36% if you have experience of five years or more. This percentage keeps on increasing as the numbers of years of experience are added on. More experienced professionals can command a higher salary in EU. But read on to find out what are the other factors which contribute to determining your salary in the European Union.
The kind of job you do also has an influence on your salary. Jobs in the public sector in most countries of the European Union pay more generous salaries than jobs in the private sector. Jobs in the banking and finance sector almost always have positions which are very highly paid. Doctors, lawyers, and engineers are also among the sectors that are paid the highest.
People who hold degrees and diplomas earn more money than those who do not have them. The higher the degree, the higher is the salary. This phenomenon is seen almost all through the European Union. The average income in Italy is higher for an individual who holds a PhD degree compared to someone who has a Master’s degree even if both do the same job with the and are awarded the same designation. This rise in income for someone who has a doctoral degree can be as high as 23% more than someone who has an MA degree but does the same job role.
Discrimination on the basis of gender is prohibited in the European Union but studies have found that women are underpaid when compared to men even when they hold the same job position. This fact might come in handy if you have got a job recently and have to negotiate salary in EU.
Standard of living
You must be careful to see that the average salary, in the EU nation you are moving to, is in tandem with the cost of living there. For example, Switzerland has an average salary rate of 6000 Euros but Italy’s average salary is much lower than that. But that is made up for with the low cost of living in Italy while cost of living may be higher in Switzerland.
Getting a new job may be tough but negotiating for the best salary is also very tough. That is the next thing you have to worry about after you get a job. Being aware of the salary trends in the field you are working in, the average income of the country you are moving to can be very helpful to you while you negotiate to get the best salary in EU that you can get for the position that you have accepted.