Austria’s capital is a hub for many different companies, both local and international ones.

In Vienna, you can find a wide range of job opportunities, such as in IT, healthcare, finance, tourism, engineering, biotechnology, logistics, and creative industries.

Some of the largest and most notable employers in Vienna are the City of Vienna, the United Nations, the General Hospital, Erste Bank, Wien Energie, and ÖBB. 

Vienna is known for offering some of the highest salaries in the country, but the numbers can vary significantly depending on factors such as field, experience, and employer.

However, while looking at salary reports and living costs, it is possible to understand what is considered a good salary and what is not.

What can you expect to earn in Vienna?

According to Stepstone’s analysis, released at the start of 2024 and based on findings from the end of 2023, Vienna once again leads the cities and provinces in terms of the highest median income. 

In 2023, the median income in Vienna was €56,880 gross per year, while in Tyrol and Carinthia, it was about €10,000 lower.

Burgenland, with a median salary of €50,750, and Upper Austria, with €49,667, were positioned in the middle of the range.

While looking at the average salary in the city, current figures show that it is €2,532 after taxes.

In Vienna, you are considered to have a high income if you earn between €3,500 and €5,000 before taxes every month. 

With this income, you can generally expect to enjoy a high quality of life while living in the capital.

Living costs in the capital

The latest figures show that a single person’s monthly costs in Vienna are estimated to reach €1,055 without rent.

The average rent in the city is €1,038 for a one-bedroom apartment in the city centre and €757 if you live outside the centre.

A meal at one of the cheaper restaurants and a drink will cost you around €16.50, while a three-course meal for two at a mid-range restaurant costs about €70.

A monthly public transport pass costs €51, while a yearly pass is €365. These are among Europe’s most affordable public transport prices for a major city.

When you go to the supermarkets, a litre of regular milk typically costs €1.47, a loaf of fresh white bread (500g) is about €2.66, and a kilogram of white rice is usually €2.36.

READ ALSO: IN NUMBERS: How much does it cost to live in Vienna in 2024?

Average and median salary in Austria

According to Stepstone’s analysis, the average gross annual salary for full-time employees in Austria in 2023 was €57,731. Meanwhile, the median gross income was €50,633, about €7,000 lower than the average salary.

Regarding salary differences, the gender pay gap in Austria, or the difference between men’s and women’s earnings, is 15.5 percent when looking at annual gross salaries.

In 2023, a full-time working woman earned an average of €45,500 gross per year, which is €8,340 less than the average earnings of a man.

This is based on the “unadjusted gender pay gap,” which includes characteristic differences such as occupational subgroup, industry, company size, professional experience, and educational qualification. 

READ MORE: Five well-paid jobs in Austria that nobody wants to do

What is left after taxes?

Knowing how the tax rates work is important for determining how much money you will be able to keep in your pocket every month.

Here are the current tax rates in Austria; 

• If you earn under €12,816, you do not pay any taxes.
• For earnings above €12,816, the tax rate is 20 percent.
• For income ranging from €20,818 to €34,513, the tax rate is 30 percent.
• For earnings between €34,513 and €66,612, the tax rate is 41 percent.
• If you have an income between €66,612 and €99,266, the tax rate is 48 percent.
• For salaries ranging from €99,266 to €1,000,000, the tax rate is 50 percent.
• Earnings exceeding €1,000,000 are taxed at 55 percent.

Worth keeping in mind is that when you work in Austria, all your earnings are not highly taxed.

Special payments, such as the extra salaries you receive at Christmas or before the summer holidays (known as the 13th and 14th salaries), as well as bonuses, are taxed at a lower rate of around 6 percent.

Plus, the first €620 of these special payments are usually tax-free.

READ NEXT: IN NUMBERS: What are Austria’s most expensive cities to live in?