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Find out how much you really cost

One of the most frequently asked question at my work, both from the clients and applicants – is a question regarding the salary. Sure, it's always a matter of one's experience, level of education and the persuasion power during the negotiation. However, it's always useful to have a benchmark of whether you are paid fair enough.

Let's start from the average salary in Germany, which is 52.000 € p.a. (full-time). If we go to the industries, than the top-paid industry is mining (with 66 K € average), followed by telecom, consumable, air and automotive (all stay above the 60 K benchmark). The lowest salary is at hand work industry (with a little bit more than 34 K per year average), being not much less than gastronomy, education and tourism industries (less than 40 K average).

Salaries based on the degree

If you have ever thought if further education is worth of doing in terms of money – then here is the answer: learn, learn and learn! Investments in studies pay back, however it is important to notice that the real difference in salaries come only at PhD-level. The difference between BSc and MSc can be negotiated based on the experience and skills a candidate brings. Thus, a PhD degree holder gets 66 K per year, while a Master – 57 K (on average). A bachelor gets only 2 thousand less – around 55 K p.a. At the same time, a person with no academic degree earns around 28% less than a University Diploma holder.

Overall do not hesitate negotiating the salary. Remember that working by a big company brings one ca. 16% more than working by a small company.

Overview of the IT field

The salary range in IT varies heavily, depending on a scope of work, educational level and years of experience. Thus, a web-developer earns starting from 29 K p.a. (without an academic degree and less than 2 years' experience) up to 57 K p.a. (with academic degree and more than 10 years' experience). Important here is that the difference in salaries for the job beginners is huge depending on the education (45 vs. 29. but will be not that dramatic after 10 years of experience (57 vs. 52). At the same time, experience brings more money for the people without an academic degree: 10% growth in 2 years for an academic degree holder vs. 30% growth for a non-academic holder. The same growth trend stays later on.

Overview of the Engineering field

Generally well-paid positions: starting form 33 K p.a. (construction sector) and up to 47 K p.a. (air and defense) - for job beginner. In addition, an aggressive growth of salary is expected with the experience: from 30 up to more than 50% salary increase in 10 years: 49K and 70 K for the industries mentioned above correspondingly.

Do you think you are paid fair?

The article first appeared on my LinkedIn Blog.
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