Last year, the average salary for women was about 20% lower than for men. Overall, however, wages rose more in 2019 than in the previous two years. However, according to experts, this upward trend will come to an end – because of the coronavirus crisis. In addition to corporate bankruptcies and rising unemployment, Germans’ incomes will fall, and this will affect pensions, whose growth goes hand in hand with the growth of gross wages.
Different industries in Germany pay quite different salaries. In the sectors of banking and insurance, informatics and communications, energy, the average monthly salaries are in the range of 5137 euros – 5393 euros gross. Even better money is made in oil production and related activities, where average salaries are even between 6,000 and 7,000 euros before taxes. Incomes are much lower in the hotel and restaurant industry, where an average of 2,451 euros gross is earned per month. Those who deal with employment mediation are no better. An average of 2,460 euros gross is earned in this segment.
Good salary and no higher?
The level of salary depends, of course, on what company a person works for. Larger companies usually pay more. In addition, income depends on specialized knowledge – for example in the field of information technology, but also on the responsibilities assumed by the employee. A university degree is usually a factor that favors higher incomes, but this is not mandatory. In Germany, there are also people without higher education who earn quite well. In most cases, they have undergone dual training within two or three years. Here are the positions where you can make good money without a university degree:
A regional head of a chain of stores can reach an annual salary of 73,000 before taxes. Sales representatives in the pharmaceutical industry earn over 68,000 euros gross annually. And in the IT sector, many people without higher education earn well. As well as tax advisors – about 60,000 gross per year.
And which graduates receive the best salaries?
The medics come first. One chief physician earns over 117,000 euros gross per year – that’s nearly 10,000 a month. Fund and account managers, as well as specialist doctors, earn over 80,000 euros a year. Between 5,000 and 7,000 euros gross per month you can earn in these professions: patent engineering, banking consulting, legal advisers, economic controlling, computer science with managerial duties.
The Federal Statistical Office has also calculated what material and financial resources people in Germany have. In 2018, a household in West Germany had total material reserves averaging about 180,000 euros, and in East Germany – about 88,000 euros.