Who in Europe earns the most and who is the best educated? Turns out it doesn't always go hand in hand. Eurostat data clearly indicate this.
Almost 1 3rd of adults aged 25-74 years have a higher education in the European Union. However, the level of education varies by age, sex and residence.
In 2022, 31.8% of people aged 25-74 years had higher education in the EU. Ireland is best placed in this respect (49.8%) and Romania (17.4%).
The highest percent of higher education graduates is in the Nordic and Baltic countries. For example, Sweden and Norway ranked 3rd and 4th with more than 45% of higher education graduates. In Latvia, the higher education is 44 percent. Similarly, in the UK, 43.5% of the population aged 25-74 had a higher education.
By comparison, in France universities finished 38.2% of people, in Spain 38 percent, but Germany or Poland were behind the EU average. In Germany, 31.5 percent of people have higher education and 30.3% in Poland. The EU average is 31.8%.
The least educated people live in Romania (17.4%) and Italy (18.5%). Both countries are ranked last 2 in the Eurostat ranking, including countries aspiring to the EU, including Turkey, Montenegro, Serbia and Northern Macedonia.
The population with lower education exceeds 40 percent in 4 EU countries.
The level of education does not always go hand in hand with the level of pay. employment and wages are affected by many factors, including interior regulations, marketplace conditions or inflation.
In 2023, the average yearly wage for workers in the EU was EUR 33 500. The highest wages were in Switzerland and the lowest in Bulgaria.
Eurostat data on wage levels in 2024 show that the highest wages are in Switzerland, with a net average wage of EUR 5542 per month. The main sectors of the economy are banking, trade, production, engineering, pharmaceuticals, food, textiles and chemicals.
Switzerland has advanced per capita GDP, well-developed infrastructure and offers large career opportunities for German, French and Italian speakers. It besides has a well-developed service sector with a large number of hotels and restaurants for tourists.
The second place is in Luxembourg, where the banking sector, manufacture and steel production and the financial sector (more than 200 banks and 1000 investment funds) are well developed. The average net wage in Luxembourg is about EUR 4358 per month.
European countries are divided into 3 groups by the minimum wage level, which can scope from EUR 399 to EUR 2387 (data for 2023).
Group I with the lowest minimum wage includes Bulgaria (EUR 399), Hungary (EUR 579), Romania (EUR 606), Latvia (EUR 620), Croatia (EUR 700), Slovakia (EUR 700), Czech Republic (EUR 717), Estonia (EUR 725), Poland (EUR 746), Malta (EUR 835), Lithuania (EUR 840).
Group II includes Portugal (887 EUR), Spain (1167 EUR), Slovenia (1304 EUR).
Group III includes France (1709 EUR), Ireland (1910 EUR), Netherlands (1934 EUR), Belgium (1955 EUR), Germany (1981 EUR), Luxembourg (2387 EUR).
Countries with the lowest yearly salaries are Bulgaria (EUR 10 300), Hungary (EUR 12 620), Romania (EUR 13 000), Poland (14 430), Greece (15 880), Slovakia (16 160), Croatia (16 170), Czech Republic (18 710), Portugal (19 300).
EU experts ranked countries with an average yearly wage of between €20,000 and €30.000. These are Estonia (€21 480), Lithuania (€21 740), Cyprus (€22 730), Malta (€27 330), Spain (€28 180), Slovenia (€28 760), Italy (€29 950).
Luxembourg has a advanced average yearly wage among EU countries. Denmark and Ireland besides have advanced yearly wage rates: EUR 63 260 and EUR 50 350 respectively. In Belgium, Austria and Sweden, the average yearly wage ranges from EUR 48 720 to EUR 46,930. In Germany, Finland and France, these figures are EUR 44 440, 43 190 and 40 130 respectively.
In the erstwhile year, respective EU countries decided to rise the minimum wage to guarantee better surviving conditions for migrants.
Sources: Euronews.com, ec.europa.eu, visitworld.today
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