Relocating has to be one of the most stressful things to go through, whether it’s as a family, a working-class individual, or even as a student. You want to find out where you’ll stay, the cost of living, in some cases, the city’s crime rate, outdoor activities, where you can work or apply for jobs, and of course, the salary levels. Let us know Luxembourg Salary Levels.
Well, you’re in luck! Luxembourg happens to have the highest Minimum Wage in the European Union. So before finding out the salary levels, you already know you’re going down the right track. As of 2021, the minimum wage of a skilled worker is 2,708.35 euros per month, and for an unskilled worker, it stands at 2,256.95 euros per month. This means an employer can’t pay you less than the minimum wages stated above. Crazy right! Even better, for Nigerians, when converted to that currency, that’s a whopping 1.2 million naira for skilled workers per month and approximately 1 million Ngn for unskilled workers.
As you know, some jobs pay more than others, so here Is a list of the salary ranges for some jobs in Luxembourg:
- Finance sector
The average salary for workers in the Accounting, Administration, and Human Resource sector in Luxembourg, based on 2,014 salary surveys by talent.com, is 49,925 euros per year. This includes Accountants, Accounting & Office Managers, Accounts Payable, Auditors, Tax officers, Assistants, Human resource workers, and more.
The average salary for workers in the Banking, Finance, and Insurance sector, however, circles around 63,838 to 64,100 euros per year. Workers in this category include Credit Analysts, Investment Advisors, Business Analysts, Financial Advisors, Financial Analysts, and Financial service workers.
- Education and Childcare
The average salary yearly for a teacher in Luxembourg is 5210 euros per Month (62,600 euros per year). Nannies in Luxembourg earn an average of 25,200 euros yearly.
The average gross pay in Luxembourg for construction workers is 48,788 euros, or an equivalent to a 23 euro hourly pay rate. And an additional average bonus of 849 euros.
This consists of Construction and repairs of roads and buildings. Demolition of buildings and bridges. Grading and Maintenance of railroads and so much more.
Felix Giorgetti is a leading construction & development company in Luxembourg.
Workers in the engineering industry in Luxembourg earn an average of 3510 euros monthly (42,100 euros yearly). Software Engineers earn an average of 4570 euros monthly (54,900 euros yearly).
- Health care
Workers in the health and medical sector in Luxembourg earn around 7,340 euros per Month (88,100 yearly).
The hospitality industry is often confused with the Healthcare industry. According to Wikiquote, “Hospitality is the relationship between guest and host, or the act or practice of being hospitable.”It is based on hosting guests. The Hospitality industry includes -but isn’t limited to – hotels, tourism agencies, restaurants, and bars. The Average monthly salary in this industry is 3280 euros (39,300 euros yearly).
An example of a Hospitality company is L’Hirondelle Royal Sarl, located in Luxembourg.
- IT sector
Workers in the Information Technology sector in Luxembourg earn an average of 4,930 euros monthly (59,200 euros yearly). Workers in this sector include Back End Developers, Data Analysts, Front End Developers, System Administrators, UI/UX designers, etc.
Lawyers in Luxembourg earn around 7500 euros per month. An Attorney earns an average of 9510 euros per month.
Despite being a small country, Luxembourg is regarded as the richest country in Europe and has the highest salaries in the world.
Big firms offer the highest salary rates. Big firms can pay their employees as high as 263,000 euros per year.
Salaries in Luxembourg differ between men and women. They also differ between degrees (Bachelors, Ph.D.) and years of experience. The amount of years of experience of an individual plays an important role in determining the amount they will earn. In regards to degrees, Holders of Ph.D. earn a 23% higher salary than holders of master’s degrees. In that same light, master’s degree holders earn 29% more than holders of Bachelor’s degrees. Bachelor’s degree holders also earn 24% higher than diploma holders.
Requirements For Working In Luxembourg
- Luxembourg Work Visas
Citizens of the EU or EFTA moving to Luxembourg can freely work and live in the country. Hence they do not need to get a work visa. On the other hand, Citizens from Outside the EU, e.g. Africans, will have to apply for a residence permit if they plan on staying in the country longer than three months
French, English, and German are the official business languages in Luxembourg (In addition to Luxembourgish). They are a multilingual requirement attached to a lot of jobs in the country. Being efficient in two languages will go a long way for a prospective worker.
Luxembourg is part of the European Higher education Area. Therefore, they recognize higher education qualifications from member countries. Citizens from Non-Member countries will have to contact Luxembourg’s National Academic Recognition Information Center to see if their qualifications are recognized and valid for employment in the country.
Working hours and agreements differ from employer to employer; However, in Luxembourg, you’re expected to work a maximum of 40 hours per week. Working beyond that time attracts an overtime payment. A maximum of 10 hours per day; exceeding that limit also attracts overtime payment. All Overtime hours of work should be approved by the country’s Ministry of Employment. As an employee in Luxembourg, you’ll have ten public holidays per year. You can choose to work on those days for extra cash.
Remember Luxembourg is considered the richest country in the world. Its Unemployment rate is at a low percentage of 4.7 as of March 2022. Luxembourg also has the highest salary rates and a relatively favorable tax rate. The country has a flourishing economy. The cost of living is high. However, it is thankfully met by the high salary levels in the country.