Average Salary in Finland 2022

How much money does a Finnish employee make?

The average monthly wage in Finland is around 4,690 Euros. 1,190 EUR to a maximum of 20,900 EUR is the salary range. The median is around 3,200 Euros.

Take note that the salary also depends on the industry and company you work for, as well as your position and experience.

Overall, the cost of living in Finland is relatively high. The main expenses include housing, transport, food, and clothing. However, salaries are generally high enough to cover these costs. Finland has a highly skilled workforce and a well-developed economy.

Finland’s Salary Structure

Average Salary

Finland’s monthly wage ranges from 1,190 EUR to 20,900 EUR. The median wage is 4,400 EUR.

The top 10% of earners make more than 8,750 EUR per month, while the lowest 10% earn less than 1,950 EUR. Most of the population falls somewhere in between these two extremes, with the majority of people earning between 2,500 EUR and 6,000 EUR per month.

Median Salary

The median monthly wage in the country is 4,320 EUR, which implies that half of the population earns less than 4,320 EUR per month, while the other half earns more than 4,320 EUR.

Booming sectors may offer higher wages, while other sectors may have a lower wage ceiling.

Percentiles

25% of the population earns less than 2,480 EUR per month, while 75% of the population earns more than 2,480 EUR per month. 50% of the population earns less than 4,320 EUR per month, while the other 50% earn more than 4,320 EUR per month.

Average salary in Europe

75% of the earners make more than 6,000 EUR a month, while the lowest 25% earn less than 1,950 EUR. 90% of the population falls within the wage range of 1,950 EUR to 8,750 EUR.

To put it simply, the average Finn earns between 2,500 and 6,000 Euros per month, with the median wage being 4,320 Euros.

In terms of compensation, what is the difference between the average and the median?

Both of these are indications. If your wage is more than both the national average and the national median, you are doing really well in life. If your wage is between the two, you’re doing about average.

The median wage is the one in the middle; half of the workers earn more than this and half earn less. It’s a better indicator because it isn’t as affected by a few very high or very low earners.

The average worker earns more than the median worker. This is because a few very high earners pull up the average wage. The median wage is a better indication of what the average worker earns.

Income Comparison based on Experience

How does a Finnish employee’s income grow over time in Finland?

In Finland, a person’s salary generally increases over time as they gain more experience. However, there are some notable exceptions to this rule. For example, a person with 20 years of experience may not necessarily earn more than someone with 10 years of experience.

This is because, in Finland, a person’s income is largely based on their level of education and training. So, even though a person with 20 years of experience may have more experience than someone with 10 years of experience, they may not necessarily have more highly-skilled jobs or earn more money.

However, in general, a person’s income does tend to increase over time as they gain more experience. This is because, as people gain more experience, they are often able to get better jobs and earn more money.

Therefore, if you are looking to increase your income over time, it is generally best to gain more experience. However, there are some exceptions to this rule, so it is always best to consult with an experienced career coach or financial advisor about this.

Comparison of Earnings based on Education in Finland

What is the relationship between a person’s earnings and their degree of education?

Finnish employees with tertiary education earn on average €3984.53 per month, while those with only upper secondary education earn €2104.17 per month. This difference of €1880.36 per month is the largest among all OECD countries.

In most OECD countries, employees with tertiary education earn around 55% more than those with only upper secondary education.

While a higher level of educational attainment leads to better employment prospects and higher earnings on average, there is considerable variation within each educational group.

For example, some Finnish employees with only upper secondary education earn more than €4000 per month, while some with tertiary education earn less than €2000 per month.

Gender-Based Salary Comparisons in Finland

On average, men in Finland earn 4% more than women in all industries combined. When comparing only like-for-like positions, this difference decreases to 2.6%. the gender pay gap is even smaller for younger generations: among those aged 25-34, women earn 1.3% more than their male counterparts.

The most significant gender discrepancies in earnings are found in the finance and insurance industry, where men earn on average 16.4% more than women. Other notable industries with large gender-based salary differences include information and communication (9%), professional, scientific and technical activities (8.9%), and manufacturing (7%).

In contrast, women earn more than men in a few select industries. These include education (5.2% more), human health and social work (4.1%), and arts, entertainment and recreation (2.1%).

While the gender pay gap in Finland is relatively small compared to other countries, women still face significant obstacles in achieving parity with men in terms of earnings.

In particular, women are more likely to work part-time or in low-paying jobs, and they are less likely to be promoted to higher-level positions. Moreover, the gender pay gap widens significantly as women get older: among those aged 55-64, women earn on average 14.6% less than men.

These disparities underscore the need for continued efforts to promote gender equality in the Finnish workforce.

Percentage of Annual Salary Increase in Finland

In Finland, how much is the yearly raise? Are increases given to Finnish employees on a more regular basis?

Workers in Finland may expect to get an 8% rise in pay every sixteen months. More specifically, they should expect to receive a 4% raise within the first eight months and another 4% raise within the next eight months. These raises are based on an agreement between the employers and employees.

The amount of annual salary increase may vary depending on the company or organization. Some companies give their employees an annual salary increase of 2-3%. Others may give larger increases, such as 5-10%. Finnish law requires that all workers be given at least a 2% pay increase each year.

It is not uncommon for Finnish employees to receive a cost-of-living allowance in addition to their regular salary increases. This allowance is intended to help offset any increases in the cost of living, such as inflation. The amount of the allowance varies depending on the company, but it is typically a few hundred euros per month.

Overall, Finnish workers can expect to receive regular raises that help keep up with the cost of living. These raises are typically a percentage of their current salary, and they may also receive a cost-of-living allowance on top of their regular salary increases.

Annual Growth Rate by Industry in 2022 in Finland

  • Education – 7%
  • Travel – 5%
  • Construction – 3%
  • Industry – 2%
  • Finance – 1%
  • Healthcare – 8%

Booming sectors in Finland in 2022 include healthcare and education, which are expected to grow by 8% and 7%, respectively. Travel and construction are also likely to see strong growth, expanding by 5% and 3%. More modest gains are anticipated in the industry (2%) and finance (1%).

Average Salary Growth Rates by Experience in Finland

Junior level Finnish employees receive around 3-5% salary growth annually. For those with some experience under their belts, salaries usually grow by 5-10% each year.

Senior-level Finnish employees can expect to receive around 10-15% salary growth annually. This percentage also varies depending on the company’s size, field, and location.

Finnish employees often receive bonuses in addition to their salary. The amount of the bonus is usually determined by the employee’s performance and can range from a few hundred euros to several thousand euros. Bonuses are typically paid out once a year, but some companies may pay them out more frequently.

Flexible work hours are becoming more common in Finland. Many companies offer their employees the ability to choose their own start and end times, as well as take advantage of remote working arrangements. This flexibility can help employees better balance their work and personal lives.

The cost of living in Finland is relatively high, but salaries are also high compared to other countries.

Finland’s Bonus & Incentive Rates

What are the bonus amounts and frequency?

Employees in Finland were asked about their bonuses and incentives in the last year, and 50% stated they hadn’t gotten any, while the other half said that at least one type of compensation had been given them. The average amount of the bonus was 1,107 euros per person and was paid out once a year.

The most common type of bonus was given for meeting sales targets (given to 38% of those who received a bonus), followed by the length of service (given to 27% of bonus recipients) and individual performance (given to 25%).

While bonuses and incentives are not as common in Finland as they are in other countries, they are still given out occasionally. The most common type of bonus is for meeting sales targets, followed by the length of service and individual performance.

The average amount of the bonus is 1,107 EUR per person. Bonuses are typically paid out once a year, but some companies may pay them out more frequently.

Different Types of Bonuses

Individual Bonuses Based on Performance

This type of bonus is usually given to employees that have excelled in their role or have achieved something exceptional. This could be hitting targets, winning awards, or getting positive feedback from customers.

The amount of the bonus is usually determined by the employee’s performance and can range from a few hundred euros to several thousand euros. Bonuses are typically paid out once a year, but some companies may pay them out more frequently.

Bonuses based on Company Performance

This type of bonus is usually given to all employees of a company that has done well. This could be hitting targets, winning awards, or getting positive feedback from customers.

The amount of the bonus is usually determined by the company’s performance and can range from a few hundred euros to several thousand euros. Bonuses are typically paid out once a year, but some companies may pay them out more frequently.

Incentives Based on the Achieved Goals

This type of bonus is usually given to employees that have helped the company achieve its goals. This could be hitting targets, winning awards, or getting positive feedback from customers.

The amount of the bonus is usually determined by the company’s performance and can range from a few hundred euros to several thousand euros. Bonuses are typically paid out once a year, but some companies may pay them out more frequently.

Holiday or Year-End Bonus

This type of bonus is given to employees at the end of the year or during a holiday. This is often given as a thank you for their work during the year.

The amount of the bonus is usually determined by the company’s performance and can range from a few hundred euros to several thousand euros. Bonuses are typically paid out once a year, but some companies may pay them out more frequently.

A Comparison of Bonuses for Different Occupations

What makes a job deserving of generous incentives and a substantial salary?

Finnish workers in sales, business development, finance, and architecture have the most earning potential, while those in manufacturing and construction earn relatively less.

In order to attract and retain top talent, companies need to offer salaries and bonuses that are competitive with other businesses in their industry. However, there are some jobs that are more difficult to fill than others, so they may offer higher salaries or more generous bonuses as an incentive.

Bonuses by Seniority in Finland

Senior-level workers in Finland can expect to earn more in bonuses than their junior counterparts. According to a report by the Organisation for Economic Co-operation and Development (OECD), senior workers earned an average of €1,872 in bonuses, while junior workers earned an average of €593.

The OECD report also found that across all worker levels, Finns earned an average of €2,045 in bonuses. This was significantly higher than the OECD average of €1,021.

Bonuses are not as common in Finland as they are in other countries, but when they are paid out, they tend to be larger. This is likely due to the fact that Finnish companies tend to be more profit-sharing than bonus-based. In other words, bonuses are more likely to be given out when a company is doing well, and they are often given in addition to salary increases.

Of course, bonuses will vary depending on the company, position, and other factors. But in general, seniority does tend to result in higher bonuses in Finland. So if you’re looking for a little extra income, it’s worth considering a move to a senior-level position.

Pay for High-Potential Careers in Finland

Architecture

  • Architect – 5,610 EUR
  • CAD Drafter – 2,370 EUR

Carpentry

  • Carpenter – 3,210 EUR

Civil Engineering

  • Civil Engineer – 6,090 EUR
  • Construction Manager – 4,770 EUR
  • Project Manager – 4,560 EUR
  • Site Manager – 3,950 EURConstruction
  • Construction Superintendent – 4,070 EUR
  • Construction Worker – 2,970 EUR
  • Electrician – 3,560 EUR
  • Mason – 3,040 EUR
  • Plumber – 3,060 EUR
  • Welder – 3,250 EUR

Healthcare

  • Anesthesiologist – 11,550 EUR
  • Audiologist – 4,270 EUR
  • Cardiologist – 9,470 EUR
  • Dentist – 7,980 EUR
  • Dietitian – 4,070 EUR
  • Emergency Physician – 8,950 EUR
  • General Practitioner – 6,180 EUR
  • Gynecologist – 8,280 EUR
  • Medical Laboratory Technician – 3,040 EUR
  • Nurse Anesthetist – 8,870 EUR
  • OB/GYN Nurse – 5,370 EUR
  • Occupational Therapist – 5,780 EUR
  • Optometrist- 5,850 EUR

Business Development

  • Manager – 9,560 EUR
  • Product Manager – 8,530 EUR
  • Project Manager – 7,380 EUR
  • Sales Manager – 9,860 EUR
  • Technical Support Engineer – 4,750 EUR

Comparison of City’s Salary Percentage in Finland

  • Helsinki’s average salary is 5,010 EUR and the city’s salary percentage is 50.1%.
  • Tampere’s average salary is 4,752 EUR and the city’s salary percentage is 47.5%.
  • Turku’s average salary is 4,711 EUR and the city’s salary percentage is 47.1%.
  • Espoo’s average salary is 4,655 EUR and the city’s salary percentage is 46.6%.
  • Vantaa’s average salary is 4,530 EUR and the city’s salary percentage is 45.3%.
  • Oulu’s average salary is 4,466 EUR and the city’s salary percentage is 44.7%.

Take note, that these average salaries may also differ according to the field of work.  For example, the average salary for IT professionals in Helsinki is 7,000 EUR.

The cost of living in different cities in Finland also affects how much you need to earn to maintain a certain lifestyle. In general, the cost of living is highest in Helsinki, followed by Espoo and Vantaa. Turku and Tampere have a lower cost of living than the capital city region, while Oulu is the most affordable city in Finland.

Average Income Per Hour in Finland

In Finland, the average hourly earning is 27 EUR ($32). As a result, the typical Finn earns around 27 EUR for every hour of labor. The average hourly wage in Finland is significantly higher than the minimum wage of 16.70 EUR per hour.

The average hourly earnings in Finland vary depending on the sector and occupation. For instance, in the private sector, the average hourly earnings are 28.40 EUR while in the public sector they are 26.10 EUR.

Among different occupational groups, professionals such as doctors and lawyers earn the most, with an average hourly wage of 39.90 EUR. On the other hand, workers in the hospitality industry earn relatively little, with an average hourly wage of only 13.60 EUR.

Overall, the average hourly earnings in Finland are among the highest in Europe.

The Salary Differences Between the Government and Private Sector

Employees in Finland’s public sector earn, on average, 5% more than those in the private sector. The average salary in the public sector is €3,817 per month, while the average salary in the private sector is €3,631 per month.

The highest salaries in the public sector are earned by those working in the banking and financial services industries, where the average salary is €4,132 per month. The lowest salaries in the public sector are earned by those working in the education and research industries, where the average salary is €3,531 per month.

The biggest difference between the government and private sector is found in bonuses and benefits. In the private sector, bonuses and benefits make up a larger percentage of overall compensation than they do in the public sector.

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