Credit: STATEC

STATEC has revealed that the average gross annual salary of a full-time worker in Luxembourg was €65,801 in 2018.

According to the results of the 2018 salary structure survey, the average annual salary before tax for someone working full-time in Luxembourg was €65,801. This sum includes all remuneration received, such as bonuses, overtime, a 13th month and end-of-year bonuses.

However, some sectors were more profitable than others, with the average salary in the financial sector being three times higher than that in the hospitality industry. The classification of sectors by level of average salary did not change compared to the previous survey in 2014. Financial activities and insurance remained the most profitable, with an average salary for full-time workers of €99,250, followed by the education sector with €98,835. Next in line were specialised, scientific and technical activities with €88,721 and public administration with €86,582. The lowest wages were found in commerce, construction, administrative and support services and the hospitality industry.

The average salary in finance and education exceeded the overall average for the economy of the Grand Duchy by 50%, whilst that in the hospitality industry was only half of the overall average, which amounts to €65,801. For the economy as a whole, the median wage was lower than the average wage (€49,548 compared to €65,801).

STATEC recalled that the level of education and type of occupation vary greatly from one sector to another, thus playing a role in salary differences. In terms of education, the average salary of an employee with a secondary school diploma was more than 30% higher than those without such a diploma. Similarly, someone with a bachelor degree earned on average 50% more than the average secondary school graduate, whilst those with a master's degree or higher in turn earned on average 30% more than those with a bachelor. 

In addition, a foreign-born Luxembourg resident earned on average 82% of the salary of a Luxembourgish national residing in the country; cross-border workers earned 72% of a Luxembourgish resident's salary. Exceptions were found in the ICT, financial and insurance and trade sectors, where the average salary of foreign residents was highest, and in the health and social sectors, where the average salary of cross-border workers was highest. Nevertheless, for the same level of education, the average salaries of foreign residents and cross-border workers remained lower than that of Luxembourgish nationals.

The average annual salary in 2018 also differed between men and women in Luxembourg, with the latter earning almost €5,000 less per year than the former. Female workers earned on average €62,829, whilst their male counterparts earned a yearly average of €67,675.