Minimum Wage and Professional Salaries in Finland
Atomic Answer: Denmark does not have a legally mandated national minimum wage. Instead, wages are typically determined through collective bargaining agreements between trade unions and employer associations in each industry.
Minimum Wage and Professional Salaries in Finland
There is no national minimum wage determined by the state in Finland. The Finnish minimum wage policy is determined and implemented in line with collective bargaining agreements for all employers and employees.
According to World Bank data for 2018, the purchasing power parity per capita in Finland is $48,417, ranking Finland 21st in the world.
Monthly salaries in Finland range from the lowest wage of 1,190 euros to the highest average salary of 20,900 euros. The average salary in Finland is 4,320 euros per month. When looking at the salary distribution, 25% of the Finnish population earns less than 2,480 euros, while 75% earn more than 2,480 euros. According to the same distribution, 75% of the population earns less than 11,600 euros, while 25% earn more than 11,600 euros.
What is the Minimum Wage in Finland in 2021?
In 2021, Finland's monthly minimum wage was determined as $2,600, or 22,226 TRY, according to the US dollar. According to this criterion, Finland ranks 64th in the world in terms of minimum wage. When looking at the annual minimum wage rate, Finland is in the 32nd percentile among all countries.
As a result of improved working conditions and the general level of salaries, Finnish job postings attract the attention of employees from many different countries.
What is the Minimum Wage in Finland in 2020?
There is no national minimum wage in Finland, but the law requires all employers, including non-unionised ones, to pay the minimum wages agreed in collective bargaining agreements, and almost all workers are covered by such arrangements. Finland's minimum wage was last changed on 1 January 2015.
The minimum wage in Finland for 2020 was 2600 USD.
The minimum wage in Finland is €13.8 per hour. The average hourly wage is calculated as €27 per hour. Considering an average of 160 hours of work per month for a minimum wage worker, the average hourly earnings would be €12.5.
What Are Salaries Like in Finland?
The average salary in Finland is 4,320 euros per month. When the salary distribution in Finland is examined, it is seen that differences in education level, experience, gender and sector of work have a serious impact on remuneration.
Overall, workers with two to five years of experience earn 32% more on average than new and younger workers across all industries and disciplines. Professionals with more than five years of experience tend to earn 36% more on average than those with five years or less of work experience.
What are the Average Salaries in Finland by Education Level?
Average salaries in Finland by education level are shared in the table below.
| Education Level | Percentage Increase in Salaries |
|---|---|
| High school | - |
| High School + Certificate | 17% |
| University | 24% |
| Degree | 29% |
| Doctorate | 23% |
What is the Average Salary Based on Experience in Financia?
Average salaries by experience in Finland are shared in the table below.
| Years of Experience | Percentage Increase in Salaries |
|---|---|
| 2 | - |
| 2-5 | 32% |
| 5-10 | 36% |
| 10-15 | 21% |
| 15-20 | 14% |
| 20+ | 9% |
What are the Average Salaries by Gender in Finland?
Male employees in Finland earn 4% more than their female counterparts, on average, across all industries.
What are the Average Salaries by Sector in Finland?
| Sector | Average Salary Increases |
|---|---|
| Banking | 1% |
| Energy | %2 |
| Information Technologies | 3% |
| Health | 4% |
| Tourism | 5% |
| Building | 6% |
| Education | 7% |
On average, employees in Finland see a salary increase of approximately 8% every 16 months.
What are the Working Wages in Finland?
In Finland, the minimum and maximum wage ranges vary by sector. A person working in accounting and finance typically earns around €4,830 per month, with salaries ranging from €1,950 to €9,700. A person working in engineering earns around €3,960 per month, with salaries ranging from €1,260 to €8,370 on average.
A person working in the food and tourism sector earns around €3,130 per month. Salaries range from €1,190 to €8,720. In the education sector, the average monthly earnings are €4,980. Salaries range from €2,380 to €9,070.
A person working in the health and medical field earns on average around €7,000 per month, more than in other sectors. Average salaries in this sector range from €1,470 to €20,900.
Looking at professions in Finland, service sector professions such as customer service representative, receptionist and waiter earn the lowest salaries in the country on average, while professions such as company and financial manager, dentist or doctor, and dietician are the highest-earning professions on average.
What is the Salary of a Doctor in Finland?
Doctors' salaries in Finland range from €4,050 to €18,600 per month. The average salary is €10,800 per month. Men working as doctors in Finland earn on average 4% more than their female counterparts. Doctors working in Finland receive a salary increase of approximately 12% every 15 months.
The medical profession is considered a highly bonus-based field due to the limited involvement in direct income generation. Those who receive the highest bonuses are usually involved in some form in the income generation cycle. Of the staff surveyed as physicians, 22% reported not receiving any bonus or incentive in the previous year, while 78% reported receiving at least some form of monetary bonus. Those who received bonuses reported rates ranging from 6% to 8% of their annual salary.
What is the Salary of an Engineer in Finland?
Engineer salaries in Finland range from €1,260 per month to €8,370 per month. The average salary is €3,880 per month. Women working as engineers in Finland earn on average 4% less than men. Engineers in Finland receive a salary increase of approximately 9% every 15 months.
Engineering is considered a medium-bonus-based field due to the generally limited involvement in direct revenue generation. In the survey, 47% of engineers reported not receiving any bonuses or incentives in the previous year, while 53% reported receiving at least some form of financial bonus. Those who received bonuses reported that their annual salary increased by 3% to 6%.
How Much Are Workers' Salaries in Finland?
Workers' salaries in Finland vary between €1,190 and €8,030 per month. The average salary is €3,270 per month.
As a result of the long-term struggle of labor unions in Finland, the working conditions of workers in Finland have been greatly improved and workers have largely obtained the rights they demanded. Therefore, it can be said that compared to other countries, the working and living conditions of workers in Finland are better. As a result of these developments, there are many people from many different countries, some of whom are from other European countries, who want to get a Finnish worker visa.
Male workers in factories and manufacturing in Finland earn on average 4% more than their female counterparts. Workers in Finland receive a salary increase of approximately 8% every 16 months. Labor is a low-wage profession in Finland. The vast majority of workers reported receiving no bonuses or incentives in the previous year.
What is the Salary of a Nurse in Finland?
Nurse salaries in Finland range from €1,900 to €6,380 per month, with the average nurse salary being €4,280 per month.
As for the impact of experience on nurse salaries, an acute care nurse with less than two years of experience earns around €2,190 per month, while a nurse with two to five years of experience earns 38% more. Five to ten years of experience provides a 42% increase, ten to fifteen years of experience a 22% increase, and twenty years of experience a 6% increase.
With a bachelor's degree, the average monthly salary for an acute care nurse is €3,020, while a nurse with a master's degree earns an average monthly salary of €5,530.
Acute care nurses in Finland receive a salary increase of approximately 9% every 18 months. Acute care nursing is described as a low-bonus job, with more than half of nurses reporting that they do not receive a bonus.
What are the Salaries of Academicians in Finland?
Salaries for academics in Finland range from €2,290 to €6,750 per month. The average salary is €4,230 per month.
When looking at the effect of professional experience on academic salaries, an academic with less than two years of experience earns approximately 2,610 euros per month. An academic with two to five years of experience earns 3,500 euros per month. Five to ten years of experience brings a 30% increase, ten to fifteen years of experience brings a 21% increase, and twenty years of experience brings a 9% increase.
When the level of education is a bachelor's degree, the average monthly salary of an academic is 3,360 euros. The salary of an academic with a master's degree is 4,160 euros per month. An academic with a doctorate degree earns an average salary of 6,660 euros per month.
Male academics in Finland earn, on average, 4% more than their female colleagues.
Academics in Finland see their salaries increase by around 10% every 17 months. Academics are described as a job with average bonuses. Almost half of academics in Finland reported that they had not received any bonuses or incentives in the previous year. Those who received bonuses reported a change of between 3% and 5% of their annual salary.
What is the Salary of an Architect in Finland?
Architect salaries in Finland range from €2,810 to €8,700 per month. The average architect salary is €5,610 per month.
An architect with less than a year of experience in Finland earns around €3,370 per month. An architect with two to five years of experience earns an average salary of €4,450 per month. Five to ten years of experience provides a 34% increase in salary, and fifteen years of experience a 19% increase.
The average salary for an architect in Finland with a bachelor's degree is €4,810 per month. An architect with a master's degree earns an average of €7,580 per month, 58% more than an architect with a bachelor's degree.
Male architects in Finland earn on average 4% more than female architects.
Architects in Finland receive an increase in their salary of approximately 11% every 17 months.
In Finland, architecture is seen as a highly rewarding profession in terms of bonuses. Only a small minority of architects reported receiving no bonuses or incentives, while 82% reported receiving at least some form of monetary bonus.
What is the Salary of Teachers in Finland?
Teacher salaries in Finland range from €1,750 to €5,570 per month. The average salary is €3,640 per month.
In Finland, a teacher with less than two years of experience earns around €2,070 per month. Two to five years of experience gives a 29% increase in salary, ten years of experience gives a 38% increase, and fifteen years of experience gives a 24% increase in salary.
When the level of education is bachelor's, the average monthly salary of a teacher is 2,590 euros. A teacher with a master's degree receives a salary of 4,150 euros per month.
Male teachers in Finland earn, on average, 4% more than their female colleagues.
Teachers in Finland receive a salary increase of approximately 11% every 17 months. Teaching is a low-wage profession in Finland, and teachers who receive a bonus report a small annual salary increase of 0% to 4%.
How Much Are Unemployment Benefits in Finland?
The unemployment benefit paid by the Finnish Social Insurance Institution (Kela) is set at €33.78 per day. The benefit is paid for five days a week, including midweek holidays.
Unemployment benefits are listed below based on the number of children under the age of 18.
- €5.30 per day for a child
- Total daily rate for two children: €7.78
- Total €10.03 per day for three or more children
The salary increase is paid from the birth of the child. During participation in employment promotion services, unemployment benefit can be paid at an increased rate for up to 200 days. The increase is set at €4.80 per day.
Without increases, the amount of unemployment benefit is on average €726 per month. Taxation is levied on unemployment benefits provided by the state. In this context, the amount of income affects the amount of unemployment benefit. The Finnish Social Insurance Institution (Kela) pays the benefit based on the unemployment status report.
What are pensions like in Finland?
The average total pension calculated for all pension recipients in Finland is the average figure for the largest possible group of pension recipients. In 2020, this figure was set at €1,677 per month. The figure includes pensions paid abroad as well as survivors' benefits.
Since the average pension paid abroad is €437 per month and the average orphan's pension is €421 per month, including these pensions reduces the average total pension.
For people who receive a pension based solely on their own employment history (self-employment), the average total pension was €1,762 per month at the end of 2020. Part-time pensions and part-old age pensions are not included in these calculations.
When reviewed per pension benefit, the earnings-related old-age pension is €1,848 per month according to 2020 data. The average total pension for a person receiving a disability pension is set at €1,156 per month.
On average, men have higher earnings-related pensions than women. According to 2020 data, men have a pension that is €599 higher than women. Men's higher earnings-related pensions are due to their longer working lives and higher wages compared to women.
What is Required to Go to Work in Finland?
The documents required to go to Finland to work are listed below.
- Finland work visa
- Finland work permit
- Finland residence permit