Living in Spain remains a popular choice for many expats but what is considered a decent salary in Spain? The country’s average salaries are generally attractive in comparison to other European countries. However, there are variations depending on the region and sector type.
Spain’s remarkable culture and customs have become renowned in every corner of the Earth, thus spurring an influx of immigrants to the country. Before committing to such a life-changing move, though, prospective migrants must consider what salary they would need to sustain themselves comfortably in their new homeland. Read on to learn more about it!
What is a good salary to live comfortably in Spain?
If you are an expat considering relocating to Spain, obtaining a Spanish Working Visa is essential for legally residing and working there. Getting that visa, however, requires a job offer from a Spanish company – but how can you tell if this is truly the right opportunity? Before accepting any position overseas, consider your salary versus what would be necessary to cover living expenses. This way you know for certain whether or not saying ‘yes’ will lead to financial stability abroad.
To live comfortably in Spain, you should aim to earn €32,000 each year after taxes. That works out to an average monthly salary of €2,710 gross per month or between €2,000 and €2,500 after taxes.
Is Spain a good place to work?
Despite having the highest youth unemployment rate and a relatively low average salary within the EU, Spain remains an irresistible destination for expats.
The exceptional quality of life, great work-life balance, and cheaper cost of living make it attractive to young people looking for new opportunities.
For English speakers, Spain’s largest and most vibrant cities are excellent locations to pursue work. With a strong expat network and an abundance of job opportunities, you’ll be able to find your desired career path. We suggest researching some of the leading Spanish companies that offer foreign citizens a working visa so that you can explore all your prospects for employment.
What’s the minimum salary in Spain?
In 2022, the minimum wage in Spain was €7.82 per hour or an annual salary of €14,000 when working full-time hours (40 hrs/month).
From February 2023 the minimum salary is fixed at 36 euros/day or 1080 euros/month, depending on whether the salary is fixed on a daily or monthly basis.
Do interns get minimum wage in Spain?
While most of the Spanish workforce is entitled to a minimum wage, unfortunately, this only sometimes extends to interns. If you are still studying, chances are that your compensation will be around €300 for travel or lunch expenses.
However, if you have already graduated and taken up an extracurricular internship position, then you should expect no less than the established minimum wage rate.
The average salary in Spain by sector
In 2022, the average annual salary in Spain was €32,520 per year, with average monthly earnings ranging from €1,200 to €2,500 depending on region and industry. In general terms, the average salary in Spain is significantly lower than in other European countries.
The service industry is a popular choice for those seeking low-wage employment in Spain. Spanish minimum wage is between 510 and 1610 euros per month depending on experience and hours worked. Those with expertise in banking, finance or insurance are likely to gain access to higher salaries than other industries.
Here’s an overview of average annual wages across the major industries, all determined by reliable sources:
- Aerospace – €32,505
- Pharmacy – €54,280
- IT – €42,020
- Energy – €50,226
- Tourism -€29.000.
Do taxes negatively influence salary in Spain?
Yes, taxation does impact wages in Spain. The average income tax rate for Spanish citizens ranges from 24% to 46%. This is significantly higher than in most European countries and can often take a huge chunk of your salary. Every worker pays taxes monthly and the final amount depends on their sector, location, and average income.
Taxes in Spain include income tax, social security contributions, and other levies. Although taxes can have a negative impact on your salary, you could be eligible for certain exemptions or reductions depending on your industry, age, and marital status.
What is the best-paid job in Spain?
Earning a substantial salary is essential to many people living in Spain. A large paycheck can cover the necessities, such as food, rent or mortgage payments, and transportation expenses; while still leaving plenty of funds for other luxuries. Improved quality of life and access to more opportunities come with a good salary.
Chief Executive Officer
The average salary for a Chief Executive Officer is €171,000 per year. If you want to be at the top of your company earning the highest salaries, these jobs are for you.
High-level positions entail a whole lot of responsibility and risk as Chief Executives need to ensure that organizations remain profitable. To reward them for their effort, CEOs generally receive more compensation than other employees in the organization.
Surgeons earn an average gross salary of €170,000 per year in Spain. By taking up a job as a surgeon, one can expect to earn an above-average salary with the potential for higher earnings.
Surgeons are essential in providing specialized healthcare to people around the globe, making their careers one of the most desired jobs. Their qualifications and experience make these important roles highly financially rewarding–especially in major Spanish cities like Barcelona and Madrid where hospitals and treatment centers are at the heart of it all. Surgeons face the daunting task of making fast and accurate decisions under significant pressure. Therefore, they are usually among the most highly compensated positions in Spain.
Chief Financial Officer
Chief Financial Officers in Spain earn an average gross salary of €133,000 per year. As the second highest-ranking executive in a company, the Chief Financial Officer (CFO) plays an integral role in managing finances and leading multiple departments. From scheduling to budgeting to analyzing spend vs costs figures, it’s no secret that this position is as demanding as it is important. In recognition of their hard work and dedication, CFOs are handsomely compensated for their efforts – job seekers should note that this position comes with a high salary and plenty of job stability.
Airline Pilots earn an Average gross salary of €73,000 per year which is considered a decent salary in Spain. Being a pilot in Spain is one of the most sought-after jobs, and for good reason – it pays well! Pilots who take on international flights often earn more than pilots with shorter hauls. The training to become a qualified pilot may be intense. However, the results are sure to be worth your while at the end of all that hard work.
Part-time workers in Spain
In Spain, the full-time working week is 40 hours. However, many people choose to supplement their income with additional part-time work. This can be beneficial in terms of raising overall gross pay, as some jobs may be better paid than others while also providing a good work-life balance.
Part-time jobs, such as teaching English, are quite popular among young expats. This is due to the fact that they usually offer a higher salary than most other part-time jobs. These jobs are paid 5% less than the average Spanish minimum wage.
What to do if you’re not being paid the minimum wage in Spain?
If you are not earning the minimum monthly wage, it’s important to check with your employer that your gross salary is in line with both Spanish law and the national average gross wage rate. If you find a discrepancy, it’s best to talk to your employer directly to resolve any differences and ensure you are paid what you are owed.
The Spanish government is committed to ensuring that employers uphold Spain’s minimum wage laws, and fines may be imposed on those who do not comply. To protect employees if their employer becomes insolvent or terminates employment without paying wages owed, they can count on the Spanish Salary Guarantee Fund (FOGASA) alongside the Ministry of Labour. Furthermore, workers are also granted additional protection under specific circumstances outlined by labor regulations regarding strike action.
A word from SpainDesk
Determining a decent salary in Spain depends on each individual’s situation. Factors such as place of residence, amount of education and experience, cost of living in the area, and any other unique circumstances will all play a role in determining one’s salary.
No matter the exact specifics, salaries within Spain should provide enough money to live comfortably while still allowing room to save and invest. With economic policies improving in recent years, many citizens have managed to achieve higher wages than before. This is an encouraging sign for those looking to move there or relocate within the country.
Disclaimer: Information on this page may be incomplete or outdated. Under no circumstances should the information listed be considered professional legal or financial advice. We highly recommend seeking guidance from a legal or financial expert if you lack extensive knowledge or experience dealing with any of the procedures outlined in these articles.