Salary and wage distribution in Finland depend on several factors. Low, medium, and high-income earners are differentiated by education level, gender, experience, and government/private-sector workers.
The lowest salary earners pocket EUR 2440, and the highest earners have a paycheck of EUR 7680. Middle-salary earners have a paycheck of EUR 4710, which means half of the employees lie in this range.
Another class of employees is called the percentiles, which earn EUR 3050 and EUR 5520 for lower and higher percentiles. This salary range includes all allowances and benefits that an employee is entitled to.
Several factors are considered when designing salary ranges;
It is practical for employees to have a similar experience but different education levels doing the same job. Higher education level translates to a more significant monthly share and vice versa. Diploma and certificate holders receive 17% more than high school leavers, while degree holders get 24% higher than diploma employees.
Masters and Ph.D. employees receive 29% and 23% more than the juniors, respectively. Intelligent employees in Finland invest in education as anyone with a post-graduate degree pockets pretty cash.
Like any other sector, the feminine gender is sidelined by their male counterparts. Similarly, when it comes to working output, males are more productive than the feminine gender. The difference in the ability level is transferred to salaries and wages.
Women receive EUR 4610 while men receive EUR 4810, which is 4% more than women. In general, women receive EUR 4590, and men get EUR 4790.
Companies award employee’s different types of bonuses; holiday, goal-based, company performance on the market, and employee performance. Employees with higher ranking positions have higher bonuses as compared to their juniors due to many responsibilities.
The more years you spent in IT departments, the more the paycheck. Employees who have experience of up to 5 years earn 32%, while those with ten years of experience pocket 36% more than their juniors on average. Employees who have crossed 15years of experience receive 21% more than their juniors, and the luckiest are the seniors who have over 20 years of experience
Salary increment per year
IT professionals in Belgium receive a 9% increase in salary after every 15 months. However, this increment is general to all employees, and salary increment depends on several other factors. Employee’s accountability and performance towards the company’s success will determine when and how much is added to your paycheck. All employees are entitled to a 6% annual increase.
According to the 2020 salary survey, education, construction, and travel topped with 7%, 6%, and 5% increment rates. Banking, energy and IT registered 1%, 2%, and 3% rates.
IT hourly wage
Belgium companies provide an average hourly wage of EUR 27. Employees who are paid on an hourly basis are less disadvantaged than their counterparts who are permanently employed.
To wrap up, employees at the top hierarchy have more salary benefits due to a higher level of education and roles. Employees need to take an extra step to further their education to received salary increments.