Many members of the European Union choose Germany as their go-to country to work in to make a quick buck. As such, it must be a country which pays decently well. But how well? Today, we’ll take a look at how much Germany earns – both the minimum wage and the average salaries. Let’s take a look!
Minimum wage in 2024
How much does one earn in Germany?
The current hourly minimum wage, as updated on the 1st of January 2024, is €12.41 (gross). This means that the monthly minimum is 2,054 euros gross, the second highest in the European Union, right after Luxembourg. Annual pay, counting it as 12 payments, is €24,648. This was an increase from the hourly €12 in 2023.
For your convenience, the €2,054 mark translates to about £1,750 and $2200. This may end up higher in practice if an individual works overtime, as these hours are counted as 1.5x the hourly rate. It may also end up lower for interns.
Average earnings in 2024
Average salaries in Germany
Of course, the majority of the population earns more than minimum wage. Based on official government data and other sources, average monthly salaries typically sit around €3,500 – €4000, with the median closer to the €3,500 mark. This means the average annual pay is about €42,000 – €48,000. Of course, this is just the mid-average – we can also mention that low average and high average are very different, with highest averages reaching about €17,000.
If you’ve heard of the standards of the German economy, then you’ve likely not expected anything else. It’s for a good reason that many of Germany’s neighbours flock to it to find wealth unattainable at their homes.
