Vienna is the capital city of Austria and is also one of the nine states in the country. With a population of about 1.9 million people, Vienna is the most populous Austrian city. The city comes in second after Berlin on the list of the largest German-speaking cities. Vienna is famous for its high living standards, and a certain 2005 study ranked it first position for the most liveable cities in the world. From 2009-2019, Mercer (an HR-consulting company) ranked the city first in its annual Quality of Life Survey of the best cities to make a base within. In addition, the UN-Habitat grouped Vienna as the most affluent city in the globe for 2012/2013.
What is the average salary in Vienna? The average salary in Vienna is €54,800 per year, €4,570 per month or €26 per hour as of 2020. Some of the highest-earning professionals include Dentists, Dieticians, CEOs, CFOs, General Managers, Financial Managers, Human Resources Managers, Attorneys, and Sales Managers.
Vienna has a robust economy backed by high productivity, an exceptionally skilled workforce and low wage costs per output. The city has the highest Gross Domestic Product in Austria, and its main economic sectors are services, industry, commerce and agriculture. Additionally, Vienna plays a critical role as a hub for domestic and international companies. An expat considering a move to Vienna may want to know, what is the average salary in Vienna? What is the Vienna average household income? What is the minimum wage in Vienna? What is the cost of living in Vienna in US dollars? Here, I aim to provide clear answers to those questions and more.
Average Salary in Vienna 2020
An expat thinking of working in Vienna may be pleased to know that salaries in this city range between €620 and €20,200 monthly (€7,420 and €243,000 annually). That salary is inclusive of transport, accommodation and other working benefits. Earnings vary widely from one career to the next. Below I have provided the average salaries of some of the top professions in Vienna
- Accountant: €33,100 per year or €2,760 per month
- Financial Analyst: €54,700 per year or €4,560 per month
- Internal Auditor: €53,700 per year or €4,470 per month
- Financial Manager: €107,000 per year or €8,880 per month
- Administrative Assistant: €27,700 per year or €2,310 per month
- Receptionist: €37,500 per year or €3,120 per month
- Secretary: €27,400 per year or €2,280 per month
- Creative Director: €49,600 per year or €4,130 per month
- Attorney: €75,700 per year or €6,310 per month
- Architect: €45,300 per year or €3,770 per month
- Mechanic: €27,900 per year or €2,320 per month
- Engineer: €47,600 per year or €3,970 per month
- Chief Executive Officer: €119,000 per year or €9,960 per month
- Chief Financial Officer: €110,000 per year or €9,180 per month
- Dentist: €122,000 per year or €10,200 per month
- Graphic Designer: €36,900 per year or €3,070 per month
- Bank Branch Manager: €71,300 per year or €5,940 per month
- Teacher: €39,400 per year or €3,280 per month
- Nurse: €41,300 per year or €3,440 per month
- Programmer: €44,300 per year or €3,690 per month
Vienna is one of the top cities with an excellent work-life balance. Workers in this city spend an average of only 32.27 hours per week or 1,678 hours per annum at the office. In addition, they have 27 days of holiday each year. From such figures, the Austrian city is undoubtedly one of the best places to work for any expat looking to work in Europe.
When it comes to employers, Vienna boasts a high number of companies and agencies operating within worldwide development. With its high quality of life, the city provides domestic and international workers with top-notch security, state-of-the-art public transport, and a variety of cultural and recreational opportunities.
As one of the richest places in Europe, lots of prominent international firms have set up their bases in Vienna. The city’s strategic location also forms a bridge between the eastern and western parts of Europe. For foreigners who are not fluent in German, it is possible to find jobs for non-German speakers in international companies, like Siemens and Hewlett Packard.
Furthermore, Vienna is a major research hub a huge percentage of all Austrian research being based there. And, more than €2.8 billion invested in research undertakings yearly. For those who prefer startups, Vienna offers opportunities in that sector as well. The city is among the top ten European startup hotspots because it offers aspiring entrepreneurs the support they require to set up their own businesses.
In addition, many of the huge organizations in this city provide internships to students who are looking to gain some work experience.
Vienna Average Household Income
Household income is basically the total gross income of members of the same household who are at least 15 years old. It is a helpful indicator of the standard of living in a region.
Austria is one of the best-performing nations in multiple aspects of well-being and its household income is updated every year. For December 2018, the country’s average household income per capita stood at $22,939.76. The average disposable household income stood at $43,068.
Minimum Wage in Vienna 2020
Minimum wage is the lowest amount of pay an employer is needed to give wage earners for work done in a given time. Minimum wages are set by statutes, wage boards, wage councils, industrial tribunals or collective agreements. The purpose of the minimum wage is to guard employees against unreasonably low pay.
Most Austrian wage earners are monitored by collective agreements. Under the current agreement, the minimum wage in the country is €1,500 per month. Regardless of the industry, no wage earner is supposed to earn below that amount per month.
Average Salary in Innere Stadt
Innere Stadt is Vienna’s first and inner-most district. It is surrounded by the Ringstraße and has a historical UNESCO World Heritage site. With a labour force of at least 100,745 people, Innere Stadt has the hugest employment scale in the Austrian capital. That’s partly because of tourism activities and the presence of numerous corporate headquarters.
The average salary for Innere Stadt is the same as that of Vienna at €4,570 per month, €54,800 per year or €26 an hour.
Some of the major employers in the district include Motel One, REWE International AG, EDUSCHO, MHA Muller HandelsgmbH, Ivoclar Vivadent and ZARA. Kwizda, Hervis, Invesco, HOFER KG, Mango, Lidl, and McDonald’s Werbegesellschaft mbH are other prominent employers. And, some of the popular occupations include English Teacher/Tutor, Music Teacher, Security Officer, Treasurer, Cleaner, Store Employee, Casher, Sales Assistant, Sales Representative and Warehouse Staff.
Cost of Living in Vienna in US Dollars
According to Numbeo.com, Vienna’s cost of living index is 63.25 and ranks at 180th out of 458 global cities. A four-person family spends about $2,818.42 (€2,600.09) per month without rent. On the other hand, single-person households spend $799.89 (€737.93) monthly excluding rent.
A meal in an affordable restaurant in this city costs $10.84, while a three-course meal at a mid-range restaurant goes for $48.78. Additionally, a meal at McDonald’s costs $7.59, 0.5 litres draught local beer comes at $4.34, and a 0.33-litre bottle of imported beer is $4.34. For the lovers of caffeine, a regular cappuccino costs $3.51, and a 0.33-litre bottle of Coke or Pepsi is priced at $3.07.
When it comes to household groceries, 1 litre of regular milk is about $1.14, a loaf of white bread is $1.96, and 1 kg of white rice is $1.43. A dozen regular eggs come for $2.76, 1kg of apples is $2.18, 1kg of bananas is $1.82, 1 kg of tomatoes is $2.51 and 1 head of lettuce is $1.25. Beef in Vienna costs $15.76 per kg and chicken fillets go for $9.73 per kg.
Transportation costs are relatively affordable in the Austria capital. A one-way ticket for domestic transport is $2.60, and the regular price of a monthly pass is $53.03. The starting charge for taxis is $4.34 and the cost increases by $1.54 per kilometre. Gasoline is priced at $1.35 per litre.
For an 85m2 apartment in the area, a person may spend about $175.54 per month on electricity, air conditioning, water and garbage removal. One minute of prepaid local mobile tariff is $0.05 without a discount or a plan. 60Mbps or more of unlimited data or Cable cost $33.85.
Adults who are keen on staying physically active spend about $29.84 per month for a Fitness Club membership in Vienna. Likewise, renting a tennis court is $19.83 per hour on the weekends. In cinemas, one seat costs $10.84 for an international release.
Sending a young child to a private kindergarten in the Austrian capital usually costs $239.99 per month. Parents of children attending international primary schools pay $16,656.97 per year for each child.
In terms of clothing, a pair of jeans goes for about $83.91, and a summer dress from a chain store costs $35.80. A mid-range pair of Nike Running Shoes has a price of $88.39 and a pair of formal leather shoes for men costs $199.05.
For accommodation, the monthly rent for a one-bed apartment is $930.28 in the city centre or $679.27 outside the centre. Three bedrooms generally cost $1,710.90 at the centre of the city or $1,225.38 in the outskirts of the city. Buying an apartment is $7,111.16 per square meter in the city centre or $4,506.68 outside the centre.
Vienna is home to multiple mortgage lending institutions, credit companies and other financial services organizations. With a good credit rating, it is possible to get a home loan. The yearly interest rate on mortgages in Vienna is about 2.17% for a 20-year fixed-rate agreement. Getting insurance for a home, vehicle or another piece of property is essential. And, fortunately, the Austrian city is home to numerous providers, like ERGO Versicherung Aktiengesellschaft, and Wierner Stadtische Versicherung AG Vienna Insurance Group.