Salaries across Europe differ considerably, and so does the cost of living. To understand how wages vary, it’s crucial to consider both nominal salaries and those adjusted for purchasing power standards (PPS).
The concept of average salary can be defined in many ways, each emphasizing different factors. However, the “average full-time adjusted salary per employee” is particularly insightful.
Eurostat’s calculations are based on the average gross annual salary for full-time employment. Euronews has converted these into monthly figures by dividing the annual salary by 12.
In 2023, the average full-time adjusted monthly salary per employee ranged from €1,125 in Bulgaria to €6,755 in Luxembourg. The EU average was €3,155. Denmark is the only EU country, alongside Luxembourg, with a salary over €5,000, offering €5,634.
Ireland (€4,890) and Belgium (€4,832) come close to this threshold.
Austria (€4,542), Germany (€4,250), and Finland (€4,033) also exceed €4,000 in monthly pay.
Ten EU countries pay less than €2,000
Among the 26 EU nations (excluding the Netherlands due to missing Eurostat data), 10 countries reported an average gross salary below €2,000. In four of these countries, the average salary fell below €1,500. Poland’s average salary was slightly higher, at €1,505. Romania, Greece, and Hungary had salaries around the €1,400 mark.
Germany (€4,250) offers the highest salary among the EU’s four largest economies, followed by France (€3,555). Both Italy (€2,729) and Spain (€2,716) fall more than €400 below the EU average.
Eurostat’s data covers 26 EU countries, though OECD data, which includes more countries, can provide further insights. The OECD reports that Switzerland tops the list with an average salary of €8,104, followed by Norway with €5,027 and the UK at €4,220. The Netherlands ranks highly as well, with an average salary of €4,629.
Turkey, an EU candidate country, has the lowest average salary at €873, making it the only country to fall below the €1,000 mark.
Western and Northern European countries generally lead in salary levels, while Southern and Eastern Europe show significantly lower nominal wages. However, when salaries are adjusted for PPS, the gap narrows. PPS eliminates the effects of price level differences, acting as a theoretical currency unit where one unit buys the same goods and services in each country.
Still, notable disparities remain across the EU. In nominal terms, the highest salary is six times greater than the lowest, but after adjusting for PPS, this gap reduces to a 2.6 ratio.
In PPS, EU average salaries range from €1,710 in Greece to €4,479 in Luxembourg, with the EU average at €3,155.
Belgium (€4,038 PPS), Denmark (€3,904 PPS), Germany (€3,898 PPS), and Austria (€3,851 PPS) are among the top five. At the bottom, Greece, Slovakia, Bulgaria, and Hungary have salaries below €2,100 in PPS, although Romania fares better in this measure.
According to OECD data, Switzerland also ranks high for salaries adjusted for PPS, with €4,412, followed by the Netherlands and Norway at approximately €3,800. The UK stands at €3,357 PPS. Turkey shows a much better ranking in PPS (€2,413).
Salary growth: A closer look at recent trends
Over the past five years (2018–2023), the average full-time adjusted salary has risen across all 26 EU countries in nominal euro terms. Across the EU, the average monthly salary rose by €507, or an annual increase of €6,708—representing a 19% increase.
The increase varied widely: from a modest 4% in Sweden to a significant 102% in Lithuania. The rise was less pronounced in the EU’s four largest economies: Spain saw a 19% increase, Germany 18%, France 14%, and Italy only 10%.
Nordic EU countries, along with Cyprus and Greece, saw increases below the EU average. In euro terms, the rise ranged from €91 per month in Greece to €1,291 per month in Luxembourg, with Lithuania seeing an impressive €1,141 increase.
Eurostat’s 2024 salary figures are expected to be released in late 2025.
