What Is A Good Salary In Italy?
How much money would you need to make in order to live comfortably in Italy, taking into account food, lodging, and other necessities? Our in-depth analysis reveals that earnings are often higher here than in certain European nations and that you can live very well even on an average salary.
Naturally, earnings aren’t the only thing to consider while deciding whether to relocate to a specific nation. Even so, you’ll discover that living in Italy has many benefits and advantages, which further justifies the relatively high earnings. Continue reading to learn how much money you may make working in Italy.
What Is Considered A Good Salary In Italy?
According to statistical statistics, the average annual gross salary in the nation is roughly 28,500 EUR or 1,624 EUR net. In Italy, a salary above 35,000 EUR is considered suitable for a single individual. This is more than the national average salary.
Most Italians consider an income of up to 35,000 EUR a year suitable for a young, single person. This equals a monthly after-tax income of 1,949 EUR. Having said that, if you made 50,000 EUR or more per year, roughly 50% of people in the nation would consider you “wealthy.”
You could live comfortably and enjoy your life on an annual salary of between 35,000 and 50,000 euros, which would be more than enough to cover your rent for a three-bedroom apartment, vehicle payments, and all other expenses.
Additionally, if you have a small family, you might be able to save enough money to cover your medical costs, infrequent vacations, dining out, and your children’s schooling.
Salary Requirement For Blue Card In Italy
The contract offered by the Italian company must have a duration of at least one year (12 months). The contract must mention that the worker will receive a minimum wage equal to 3 times the health expenditure. Therefore, the minimum wage cannot be less than € 24,789.00 per year.
Salary Requirement For Work Permit In Italy
Your Italian company must pay you the same wage as your coworkers if you are not eligible for the EU Blue Card.
What Is The Minimum Wage In Italy?
There is no national minimum wage in Italy. Instead, national collective bargaining agreements (NCBAs) or local or even company-level negotiations decide the minimum wage on a sector-by-sector basis.
Every three years, these agreements are renegotiated. For reference, the minimum salary in the agriculture sector is around €900 per month, or €5.60 per hour, making it among the lowest in the nation and Europe. For instance, even for interns, Germany maintains a national minimum salary of €9.35 per hour. As a result, if you intend to work as a student, make sure to use your talents and multilingualism to try to negotiate a fair wage.
What Is The Average Wage In Italy?
The average monthly wage in Italy rose to 2475 EUR. Employees’ average monthly pay ranged from 2502 EUR to 1176 EUR, with 2502 EUR being the most.
Average Gross Salary In Italy By Gender
Unfortunately, there is still a pay gap between men and women working in the same industry today. According to Salary Explorer, generally, women make around 5% less than males across all industries, although some are more biased than others. In Italy, male employees make an average salary of 46,280 euros, compared to 44,180 euros for female employees. Job pricing reveals a near-unreal degree of favouritism for males in the finance and insurance sectors. In the financial and insurance industries, men might earn up to 25% more than women.
Average Gross Salary In Italy By Location
Remember that 50% of Italians earn less than the average income, which means it does not reflect reality.
The following are some other elements that affect the pay you’ll receive::
- The pay differences per region
- The industry
- Your experience
As an ex-pat, it’s also possible that you’ll be seeking work abroad or in English-speaking countries. Larger organisations that frequently pay above average are more likely to have these positions available. In summary,
Here is a simple guideline to follow if you want to earn more money in Italy: go north!
Lombardy in northern Italy, Lazio in central Italy, and Piedmont in northwest Italy are the regions with the highest average incomes. Why these places do so well is not very surprising. To begin with, Milan, which has the highest average wage in all of Italy, is based in Lombardy.
Rome is located in the region of Lazio, which lies in the heart of Italy. Another economic powerhouse that raises the regional average is located in the Piedmont province: Turin.
The area averages are one thing, but just because you reside somewhere else doesn’t mean you can’t make a good living.
Let’s look at some of the average incomes in various Italian cities (Based on the numbers by SalaryExplorer):
National average€3,720 Baseline
Rome €4,300 +17%
Milan €4,220 +15.6%
Napoli €4,150 +13.6%
Turin €4,080 +11.7%
Nevertheless, you’ll discover that the average pay decreases as you travel further South. The average annual pay is over €7,000 less in Basilicata than in Lombardy (located at the ankle of the fabled Italian “boot”). So, if you’re aiming for big money, follow your compass’s needle.
But why are earnings in the South so much lower? One example is that the southern areas and the Islands have a significantly more significant percentage of low-income workers (17.8%) than the northern regions (6.7%). (Statista & Job Pricing). The excellent unemployment rates and lower cost of living in Italy’s southern regions provide some justification for the salary difference.
Average Gross Salary In Italy By Profession And Work Experience
It goes without saying that certain industries pay higher wages than others. To work in such fields often requires a higher level of education or specialised abilities.
So let’s look at some of Italy’s notable(*) and highest-earning industries:
National average €31,000 Baseline
Banking & Finance: €43,277
Pharmaceutical & Biotechnical: €39,294
Engineering: €38,222
Oil & Gas: €38,093
IT & Software consultancy: €36,118
Insurance: €35,679
Aeronautics: €35,191
Automotive: €28,647 -7.4%
Fashion & Luxury:€28,540
Italy is renowned for its high-end fashion and automobile sectors. Sadly, these industries’ typical earnings are lower than the US average. You’d need to be a hotshot designer or manufacturing whiz to succeed in these industries.
If you want to know which professions will pay the most on average, go here., SalaryExplorer reports advising you to consider choosing one of the following professions.:
Profession/ PositionAverage monthly salary
Doctor: € 13,000
Judge:€ 11,000
Bank manager: € 8,700
CEO: €8,000
CFO: €7,600
Orthodontist: €7,300
Professor:€6,500
Is 60.000 Euros A Good Salary In Italy?
Yes. For a young, single person, most Italians would consider an annual salary of up to 60,000 EUR to be decent. The majority of Italians who make at least 60.000 euros are regarded as wealthy; nevertheless, whether or not this wage is adequate for you will depend on your lifestyle and the size of your family. For instance, your eating habits, mode of transportation, leisure activities, the size and location of your residence, how frequently you buy, etc.
What Is Your Purchasing Power With Your Salary In Italy?
It might not matter much to you if you don’t know how many goods and services you can get for your money in Italy. PPP is a phrase used to refer to an economic concept. The disposable income of families (before taxes) in inhabited regions in Italy and a wide variety of other nations is described in this Purchasing Power data product. It serves as a crucial planning tool for understanding sales areas and as a significant predictor of customer potential.
You may more precisely examine local marketplaces with the help of this product. This solution is best suited for projects that span international borders since it provides similar and consistent data. It is possible to buy Purchasing Power for Italy alone or as a package containing GIS polygon data for administrative regions, postcodes, and small areas. With the aid of attractive visuals, you may undertake insightful analysis thanks to this potent combo. You may use online calculators to figure out what you can afford.
Conclusion
Whether a wage is good for you or not depends entirely on you. You must take into account your country’s cost of living, disposable income, purchasing power, and standard of living.
In order to feel confident accepting the job offer or to bargain for a higher pay that will allow you to have more disposable income, I hope this guide has helped you learn what the typical gross salary for your profession in Italy is.