What is a good salary? This is what the average earns

The average salary in Germany provides a guide to answering the question of what a good salary is. However, you should also keep other factors in mind.

What a good salary is: Facts and figures

If you have ever asked yourself whether your salary is good, you could use the average salary in Germany as an example.

• According to statistics, the average monthly salary in a full-time job is about 3,975 euros gross per month. So if you earn more than 47,700 euros a year, you are statistically above average.
• A study by PURDUE University showed that most people defined themselves as particularly satisfied with their salary if they earned around 77,000 euros per year.

• Another study that could give a guideline for a good salary is that of the Nobel Prize winner in economics Daniel Kahnemann. He found that people who earn around 65,000 euros a year are the most satisfied.

• But it is also important to remember that salaries vary greatly from industry to industry. As a medical executive, for example, you earn on average much more than many other professions.

Factors for a good salary

Even if your salary is below average, this can be a good salary. Because these subjective factors should also be considered:

• Whether your salary is good also depends on your own needs. Perhaps you like it very simple and minimalistic, so that your salary is more than sufficient for you and you do not even want more.

• Your own lifestyle also tells you whether your salary is good. For example, if you appreciate going to a restaurant several times a month and always wear modern clothes, you need more money than if you like to just cook at home and buy second-hand.

• For many, a comparison to their friends’ salary or a comparison to their colleagues’ salary is the deciding factor on whether they consider their salary to be fair or not.

• It is also important to consider the regional cost of living. Rent does not cost the same in every place, just as food, electricity and water costs, for example, often vary greatly from region to region.