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Top 10 German firms with the highest-paid employees

Jobs and recruiting site Glassdoor has published a list of the top 10 German companies whose employees have the largest median income.

Published: 25 July 2016 15:06 CEST
Top 10 German firms with the highest-paid employees
Photo: DPA

Heading up Glassdoor's list is consultancy firm Roland Berger, in joint first place with industrial group Siemens. The median income of employees from both of these companies is a massive €80,720 per annum.

The term “income” takes into account a) the basic salary, b) any bonuses and c) any other personal remunerations, over the course of one year.

So which companies offer the highest salaries? Here’s Glassdoor's list of each company and the median income that their employees receive.

  1. Roland Berger: Median income – €80,720. Sector: consultancy

  2. Siemens: Median income – €80,720. Sector: industry

  3. BASF: Median income  – €76,684. Sector: industry

  4. Robert Bosch: Median income – €75,675. Sector: industry

  5. Bayer AG: Median income – €70,630. Sector: industry

  6. Commerzbank: Median income – €70,630. Sector: banking

  7. Daimler: Median income – €70,630. Sector: automobile industry

  8. Deutsche Bank: Median income – €70,630. Sector: banking

  9. Continental: Median income – €65,585. Sector: automobile industry/supply industry

  10. SAP: Median income – €65,000. Sector: technology

Traditional German companies pay better salaries

The results indicated that companies with a long-standing tradition in Germany tend to shell out more for salaries.

Each business in the top 10 list has its head office in Germany.

So if you want to strike it rich, German-based companies are the place to work.  

Skilled workers are “important”

“An important factor for higher salaries is the development of technology combined with skills which are in high demand,” Dr. Andrew Chamberlain, Chief Economist at Glassdoor, told the Berliner Zeitung. “Economists often mention the “Superstar-Effect” with regards to this link,” he added.

Chamberlain went on to state, “Competent workers are important for the continued success of a company.”
 
For businesses which are looking to develop their global profile, it is important that employees are highly qualified. “But in this case, the demand is obviously larger than the supply”, Chamberlain said.

Therefore, two things are essential if the demand is to be satisfied, according to Chamberlain. Firstly, highly qualified workers must be remunerated accordingly. Secondly, potential applicants must be offered a reasonable salary in the recruitment process.

Higher stress equals higher pay

Chamberlain maintains that in the banking sector in particular, stress levels are often “particularly high”.

“Long working hours coupled with stress and high risks lead to employees receiving higher salaries,” he went on to state.

Need for greater transparency about salaries

Most people are completely in the dark about how much their colleagues earn – it’s still a taboo topic of conversation.

Only 4 out of 10 German employees know how much their co-workers are paid, of whom only 50% found the information out from the co-workers themselves, a study undertaken by Glassdoor has shown.

Due to this lack of openness, 6 out of 10 German employees think that companies should be required to be more transparent about salaries.

Despite this, 72% of Germans are reluctant to talk about their own salary to other people.

However, 45% would be willing to share information about their earnings, if it was completely anonymous.

Information about results

Glassdoor’s results are based on salary information for the period between July 1st 2014 and June 30th 2016.

Companies that were included were those who published information about 20 of their German employees’ salaries in this time period.

When calculating the total salary of an employee, the firms had to take into account the employee's basic salary as well as other forms of remuneration.

The data provided is the median yearly salary of employees from each company.

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WORKING IN GERMANY

Four steps to take straight away after losing your job in Germany

Losing a job can be a nightmare situation for foreigners in Germany - but following these simple steps will get you back on your feet in no time.

Published: 10 September 2024 16:34 CEST
Updated: 15 September 2024 08:14 CEST
Four steps to take straight away after losing your job in Germany

In times of economic downturn, layoffs are far from unusual – but that doesn’t make it any more difficult for the people who find themselves suddenly left without work.

For foreigners in Germany, the situation is even more frightening. You may wonder whether your residence status is in jeopardy, how hard it will be to find another position, and whether you can support yourself while you look for another job.

Though it may be hard to think clearly at a time like this, following these four simple steps will set you in good stead to move forward – and hopefully, it won’t be long before another dream opportunity comes your way. 

1. Negotiate your terms 

Before signing or agreeing to anything, it’s crucial that you’re familiar with your rights and understand how much notice your employer has to give you and what kind of settlement you may be owed.

Generally, the rule of thumb is that you get half a month of severance for every year you worked at the company. That said, higher settlements can be negotiated in return for signing a termination agreement (Aufhebungsvertrag), so you may want to seek legal advice before settling. 

Even during a probationary period, your employer will also have to give you a certain amount of notice before your last working day. During the interim, you can either work for the company or be put on what is known as gardening leave in English, where you stay home but are paid as if you were working.

This can all be negotiated as part of a termination agreement, so you should think carefully about what works best for you and consider speaking to your labour council (Betriebsrat) or a legal specialist before making any firm decisions. You should also be aware that you have no obligation to sign any agreement and can legally dispute the layoff if you want to. 

READ ALSO: Can I get unemployment benefits in Germany if I quit my job?

2. Get all the necessary documents from your employer

Once the terms of the layoff are final, ensure that your employer gives you all the necessary documents you need to navigate the next phase of German bureaucracy.

The main two to think about first are the confirmation of work (Arbeitsbescheinung) and the confirmation of your holiday entitlement (Urlaubsbescheinigung).

The first can be sent to the Agentur für Arbeit (jobcentre) as proof of your last job and recent layoff, while the second will help your next employer calculate your vacation days for the rest of the year.

An Arbeitszeugnis, or German letter of reference

An Arbeitszeugnis, or German letter of reference. Photo: picture alliance/dpa/dpa-tmn | Zacharie Scheurer

On top of these documents, you’ll want to ask your employer for a letter of reference (Arbeitszeugnis), which is useful for finding a new job in Germany.

You should also keep hold of your last payslip and statement of earnings (Lohnsteuerabrechnung), which are helpful for tax purposes and may also be requested by the Agentur für Arbeit.

Speaking of which… 

3. Register as unemployed with the Agentur für Arbeit

As soon as you know that you are soon to be unemployed, you should register as a jobseeker with the Agentur für Arbeit. To get full unemployment benefits, you usually have to do this within three days of receiving your termination notice or at least three months before leaving.

Depending on what type of residence permit you’re on, you may or may not be entitled to long-term unemployment benefits (ALG II), but most employees are able to get unemployment insurance (ALG I), which covers a proportion of your former salary while you look for a new role.

It’s important to be a little bit careful here, as claiming long-term unemployment benefits (ALG II) can affect any future citizenship applications. Any severance pay you agree to can also result in you losing some months of unemployment benefits, so these are all factors you will have to consider while deciding on the best way forward. 

READ ALSO: What happens to your work permit if you lose your job in Germany?

4. Inform the immigration office 

If you’re on a residence permit that is linked to your job in some way, like a Blue Card or work visa, you’ll need to inform the immigration office about your change in circumstances as soon as possible.

This should be done in writing, and in German, within two weeks of receiving your termination notice.

You should include all relevant personal information, such as date of birth, residence permit type, and nationality, as well as the date of your final day at work. As proof of the layoff, you should also enclose a copy of your termination agreement or a letter from your employer. 

People enter the immigration office

For foreigners who move to Germany and settle in Berlin, a visit to the Berliner Landesamt für Einwanderung (LEA) is ultimately unavoidable. Photo: picture alliance/dpa | Britta Pedersen

In most cases, the immigration office will give you between 3 and 12 months to look for a new job. If they give you a shorter period, be aware that you may be able to negotiate an extension later on if you are struggling to find work through no fault of your own.

Above all, stay positive. Though it may feel like one door has closed, another one is sure to open. This being Germany, you may just have to wade through a sea of paperwork to get there.

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