Europe is home to thriving cities and quiet rural economies, making it one of the world’s most developed and diverse regions. Making it most people’s dream to spend time on the continent. It is also known for its technological innovations and breathtaking landscapes.
As a result of their competitive salary markets, some European countries have become magnets for qualified workers from all over the world.
We have helped you compile a list of the top 5 European countries with the highest salaries if you want to study and work in Europe.
The Top 5 European Countries with the Highest Salaries
- Switzerland
- Luxembourg
- Liechtenstein
- Denmark
- Iceland
Switzerland
Switzerland is well-known for its high wages, high standard of living, and thriving economy. Although the cost of living is expensive, the salaries professionals earn there make up for it.
There is much competition for jobs in the Swiss financial sector and industries like banking, electronics, luxury products, watches, travel, and chocolates. The average wage for full-time employees here is 6712 CHF per month.
Major contributors to Switzerland’s high wages come from the European Union (EU), the United States (US), and developing countries (25%). Most of this comes from small and medium-sized businesses, over 90% of which are family-owned.
Luxembourg
As a significant financial center, Luxembourg enjoys a reputation for a good standard of living and attractive salaries, especially in the banking, telecommunication, steel, and finance industries. The high average incomes in the country are a result of its booming economy and comparatively small population. The average salary for full-time workers here is around 4,018 EUR per month.
There are a lot of multinational companies and institutions in Luxembourg, which also affects the general income levels there. Its strong economy and continuing competitive advantages make it a global leader.
Liechtenstein
One of the top 5 European countries with the highest salaries is Liechtenstein, which is well-known for its thriving economy and good standard of living. It has a booming manufacturing economy and a highly developed banking sector for its size. The banking industry is the backbone of the economy and a point of national pride, and the government has always welcomed foreign investment.
The average salary in Liechtenstein for full-time workers is around 5,330 CHF. Also, the service industry is responsible for over 60% of GDP, and over 7% of the service sector employment is engaged in financial services. It imports food, clothing, and other consumer items and exports machinery, instruments, electrical equipment, and chemicals.
Denmark
When compared to other countries, Denmark has the lowest income inequality. The Danish economy is exceptional because it is both small and open, and it has successfully survived currency crises, recessions, and international developments without compromising its social model of broadly shared economic success. The average wage you can earn after graduating is around 17,000 DKK per month.
The country has many well-paying jobs in different industries, such as transportation equipment, chemicals, fish and seafood, food, medical equipment, industry, and more. Denmark also puts a lot of effort into making sure its people get a good education and have a good mix between work and life. This is probably why their workers are the happiest in the global workforce.
Iceland
The manufacturing sector, particularly exports, plays a prominent role in Iceland’s diverse economy, which is small, open, and trade-based. Iceland’s economy is based on two main sectors: fish exports and tourism.
The minimum wage for full-time workers here is around 380,000 ISK per month. Some top industries you can work in include tourism, fishing, renewable energy, and agriculture.
Conclusion
If you still doubt whether you want to study and work in Europe, this is your sign to decide which European country you want to live in. These top 5 European countries with the highest salaries have good economies, strong job markets, and good working conditions.
Europe’s job market is constantly changing, and many countries like Germany and Norway have benefited from the recent job rise. This is why it’s essential to consider how much it will cost to live in Europe when deciding where to go. Feel free to share if you were expecting to see another European country on the list.
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