Salaries in Finland vary from 1,190 EUR per month (lowest salary) to 20,900 EUR per month (highest average salary, actual maximum is greater).
Average Salary
The median monthly wage is 4,320 EUR. 50% of the community earns less than this amount, while the other 50% make more. The median represents the median wage value. In general, you would want to belong to the group receiving greater than the median pay on the right-hand side.
Percentage of population
The 25th and 75th percentiles are two numbers closely related to the median. According to the salary breakdown, 25% of the city makes just under 2,480 EUR while 75% makes more. It also shows that 25% of the population earns more than 11,600 EUR while 75% of something like the population earns less than 11,600 EUR.
Salaries in Finland according to experience level
The most important factor in determining your pay is the years of work experience you have after beginning a given job. It makes it reasonable that more experience would translate into a higher wage.
Employees between two to five years of work experience can expect to earn roughly 35% more than those just starting in a junior position. This average is relevant to all fields of employment and professional pathways.
For those with at least ten years of experience, the average salary increases by some other 20%, and for those with 15 years or more, it increases by 15%.
Read More: Everything You Need to Know About Cost Of Living In Indiana
Salary in Finland by educational level
Your education, together with your work history, is a major factor in determining how much money you can make in Finland. Many higher-paying jobs demand a high degree of education, but how much can your earnings rise with a degree?
We examined the incomes of workers in the same profession and development managers with various education degrees as part of our research to determine how much more money is available at each level of education.
Your location and the professional path you choose have a lot to do with the pay you can make with your degree. One might expect to earn roughly 17% more money as an employee with an, i.e., pre-degree or certification than one who only completed high school.
You can expect to earn roughly 25% more cash than someone who merely has a diploma or degree if you have a Bachelor of Science. A postgraduate degree would increase your earnings as an expert by about 30% above a bachelor’s degree. People with a Ph.D. can anticipate making roughly 22% more cash than those with a postgraduate program for the same job.
Comparison of Wages by Gender
We know that there should never be a salary gap between men and women in the modern era. Sadly, when comparing the earnings of men and women in similar occupations, there continues to be a significant pay disparity in many areas.
In Finland, the average yearly salary for men is 59,380 EUR, compared to 56,880 EUR for women. The results indicate that males tend to earn 4% more than females for the same job across all occupations
Pay Increase in Finland
- Employees are sometimes given an annual wage boost in various nations to say “thank you” for their service.
- According to our data, an individual in Finland receives an average wage increase of 8% every 16 months.
- In this instance, it is clear that there are more than the usual 12 months between average wage increases.
- The maximum pay increase in Finland for 12 months is six percent.
- Annual Pay Increases in Finland by Industry for 2022.
- The average yearly pay raise % for each of Finland’s major industries.
- You’ll observe that businesses tend to offer higher yearly pay hikes in larger and more lucrative industries.
Is there any possibility to increase pay?
The estimated yearly wage increase depending on employee experience level is another option. Employees with greater Experience typically obtain pay raises that are more than average in this area. This is because it is simpler, more expensive, and quicker to retain experienced people than to acquire them.
Bonus & Reward Rates in Finland
Another factor that determines your overall pay is the bonus you get at work. Depending on the job role, bonuses may be paid at a higher rate and with a greater likelihood than in other jobs.
Bonuses are generally higher for positions requiring greater direct revenue generation. In Finland, 50% of workers stated that they had received a minimum of one bonus within 12 months.
In the previous 12 months, 50% of respondents said they had not gotten any bonuses. The reported bonuses ranged from 4% to 5% for the employees who did earn bonuses in the previous twelve months.
Conclusion
If a person wants to live in Finland, it is a good area. Or if a person wants to move from one country to Finland, then they must check all the expenses and costs in Finland. Anyhow Finland is a beautiful place to live.
