Top 10 Highest Paying Countries In Europe

Filed in Articles by on September 29, 2022 0 Comments
Top 10 Highest Paying Countries In Europe

If it has been your desire to work in Europe as an expat and you are wondering which country among the countries in Europe has the highest pay rate. This may be your primary concern to secure a better life for yourself and your family. One of the powerful tools of motivation that compel the acceptance of a job offer or deciding to remain on the job for w longer period is compensation incentives which are salaries, bonuses, wages, and also commission structures. These are factors that guarantee how long an employee would love to stay on a job.

 In this article, we shall consider the Top 10 highest paying countries in Europe. But before we dive into this list, let’s briefly consider how to qualify for working in Europe and the things to consider before working in Europe.

How to qualify for working in Europe as a foreigner

Before we consider the requirements for qualification to work in Europe, let’s also see briefly who can work in Europe?

Who can work in Europe?

Before you look into how to be qualified to work in Europe, you have to first consider who can work in Europe, of which anyone can as long as you meet the criteria and requirements standards that are set by the European countries. Citizens of other countries are mandated to apply and get an employment visa which covers the labor needs of the respective countries and fill job shortages before moving into the Schengen territories for work purposes. Hence, the criteria and requirements for employment visa, and also the process of application, depend on the labor needs of each country.

How then do you qualify for working in Europe?

 The following ways are the basic requirements that ensures your qualification when applying for Europe employment visa, these includes the following:

  • Application form which are required to be fully completed and printed twice. Ensure to sign both copies at the end!
  • Two identical photos: These photos are required to be taken within the last three months, according to the common Schengen visa photography criteria.
  • Valid passport: Passport not older than 10 years, which would still be valid for at least three more months, on the day you plan to leave the Schengen territory.
  • Roundtrip flight reservation: This should show the dates and flight numbers of entry and exit from the Schengen area.
  • Travel medical insurance: an estimate of 30,000 Euros which covers  for any medical emergency with hospital care and travel back to one’s native country due to medical emergencies is required. Insurance must be valid in all Schengen countries and purchased before picking up the visa.
  • Proof of Accommodation: you will be required to provide a document that shows your desired location of residence in the Schengen area, i.e. rent agreement.
  • Employment contract: An employment contract which is required to be signed between you and your potential employer, residing in the Schengen territory.
  • Proof of Academic Qualifications: Such as diplomas, certificates, grades’ transcript etc.
  • Proof of language knowledge: Most countries require you to blend even if you plan to work there only for one year. This is why many of them will demand you meet a specific level of knowledge of their official language.

With that being said lets now consider the necessary factors to consider before working in Europe.

Factors to consider before working in Europe

There are basic important factor to bore in mind before you execute your plan of moving to Europe these includes:

 Banks and Credit cards

This involves you getting the required cards and opening a bank account for easy payment or you can receive your paycheck in your local bank account, but do ensure to inform your local bank as you don’t want your cards to be block when they see large unfamiliar transactions from foreign countries.

Insurance & medical check

Ensure to get the European Blue insurance card which will make sure you get the necessary medical assistance in all European countries. Also carry along a copy of all your vital documents such as Passport, drivers’ license, credit card, work contract, residence card and the likes as this will come handy in case of any robbery, or accidents.

Residences papers and work Visa

These are vital documents for international citizens that come handy for medical insurance and tax purposes. As a European citizen moving within Europe you don’t need a work visa, however, you need to register yourself as a resident of any country you are moving to if you will be staying for more than 3 months.

Accommodation

Living your home can be quite tough. Accommodation is one vital necessity to consider as you don’t want to be stranded, most especially if you are moving alone to a country where you don’t know anyone, it is advisable and very essential to source for an apartment where you can have your base and feel safe.

Networking

Networking is also one of the factors to consider as you’re living behind a country, family, friends, and colleagues. It is therefore advisable and important to stay connected with them as much as possible which serve as a means of building a new network. Social Medias will come very handy for this purpose.

Working conditions

You can’t go wrong by conducting a thorough research on the kind of working conditions you’ll be faced with. Ensure you go through the entire documentation properly so you can know what you’re signing yourself up for.  Also reading about what other travelers have said about companies, projects, and locations is a nice idea.

Language

Language is essential thing to consider before moving to a new location be it a country or state. It is very vital for conversation, transaction and also enhances your working ability in terms of communication with other colleagues. Language is also a determinant factor of the location you would stay and the kind of job you will do. Ensure to know a few basic language of the country you will be moving into in the Europe.

Cost of Living

One factor that can influence your standard of living and lifestyle in any given location is the cost of living in that particular destination. Living in Europe is expensive, although not that expensive when considering the standard and quality of living in Europe. To provide you an idea on the rough estimate you will require to have a more comfortable life in Europe, here are a few to note: you can pay up to €1000+ per month on rent and utility bills, 24% − 42% of your income covers taxes, food and drink will cost you €150-200, however social life may cost between €50 to €200, or more depending on if you plan to travel, what places you will like to visit and what you will do in your free time.

Without further ado let’s dive into the list of the highest paying countries in Europe.

Top 10 Highest Paying Countries In Europe

1. Sweden

Sweden which is located in North of Europe and lies between Finland and Norway is a Scandinavian nation with thousands of coastal islands and inland lakes, including the vast boreal forests and glaciated mountains. Sweden is known for its freezing winters and short mild summers. Sweden homes some of the world’s leading universities and also a number of internationally successful corporations such as Volvo, IKEA or H&M. Working in the Sweden can fetch you an average annual income of: $59,583.

Top industries in Sweden: mining, tourism, agriculture, trade, manufacturing, transportation, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home goods and appliances, forestry.

2. Denmark

Denmark which is located in Northern Europe is also among the list of the top 10 highest paying countries in Europe. The weather in Denmark is known for mild winters and cool summers. You can earn an average annual income of $50,024 as an employee in Denmark. Due to the absence of minimum wage legislation and the strong influence of the trade unions, the country therefore has the highest minimum wage in the world.

Top industries you can find in Denmark include the following: steel, nonferrous metals, chemicals, machinery, food processing, transportation equipment, textiles, electronics, construction, furniture, shipbuilding, windmills, and pharmaceuticals.

3. Iceland

Iceland with an estimated population of 348,580, which accounts for it being the least populated country in Europe. Iceland was ranked as the 9th most developed country in the world by the United Nations’ Human Development Index. It runs almost solely on renewable energy, especially on geothermal and hydropower. The average annual income you can earn in Iceland is $46,074.

Top industries in Iceland include: tourism, fish processing, geothermal power, hydropower, aluminum smelting, and ferrosilicon production.

4. Norway

Norway owns the fourth highest per capita income in the world which is according to IMF and World Bank. Working in Norway can fetch you an average annual income of $50,908. The country also inhabits the top spot on the World Happiness Report and it also has the minimum crime rate in the world.

Top industries you can find in Norway are: petroleum and gas, shipping, aquaculture, fishing, food processing, paper products, shipbuilding, chemicals, metals, timber, mining, and textiles.

5. Australia

Australia which is also known as “the Land Down Under,” is a country that’s well known for its kangaroos and koalas. A short distance off Australia’s northeast coast rests the world’s largest coral reef, the Great Barrier Reef. Australia can offer an average annual income of $50,167 to its residence.

Australia’s top industries includes: tourism, financial services, mining, industrial equipment, transportation equipment, chemicals, steel, food processing

6. Belgium

Belgium which has a very high standard of living, healthcare, and education is also one of the top 10 highest paying countries in Europe. Also it ranks as one of the safest and most peaceful countries not just in Europe but also in the whole world at large. The major languages are Dutch and French, where minority speaks German. Part of what Belgium is famous for includes waffle, chocolate, beer, and French fries with mayonnaise. The average annual income in Belgium is $47,702.

Top Belgium industries include the following: processed food and beverages, engineering and metal products, transportation equipment, motor vehicle assembly, chemicals, scientific instruments, textiles, glass, petroleum, and base metals.

7. Luxembourg

Luxembourg is a small country which is located in the Western Europe. The country has an estimated population of 576,249 of which one-half are foreigners. However, don’t be deceived by the size, as the country has an advanced economy and also one of the world’s highest GDP per capita. The country shares borders with three other countries, which are France, Germany, and Belgium. The official languages however are Luxembourgish, French, and German. The average annual income for workers in Luxembourg is $60,369.

Top industries in Luxembourg are: banking and financial services, real estate services, construction, steel, metals, glass, aluminum, information technology, telecommunications, engineering, cargo transportation, chemicals, biotechnology, and tourism.

8. Canada

Canada is a highly urbanized country, with 82% of its population concentrated in both large and medium-sized cities. The country ranks high internationally in terms of quality life, education, economic freedom, government transparency, and civil liberties. It shares the largest land border in the world with the United States which stretches about 8,891 kilometers. Working in Canada can fetch you an average annual income of $47,843.

Top industries in Canada are: petroleum and natural gas, transportation equipment, chemicals, food products, fish products, wood and paper products, processed and unprocessed minerals

9. Switzerland

Switzerland which is famous for its watches, chocolates, and of course, the Alps, is also one of the top 10 highest paying countries in Europe. Apart from precision instruments, other export includes chemicals, electronics, and machines. Switzerland is also homes large multinational corporations in the likes of Nestle, Novartis, Credit Suisse, UBS AG, Glencore, Tetra Pak, and The Swatch Group. The average annual income you can earn in Switzerland is $58,389.

Top industries in Switzerland: machinery, watches, pharmaceuticals, textiles, precision instruments, chemicals, tourism, banking, insurance

10. Netherlands

Netherlands which is also known as Holland, ranked in 2017 as the sixth happiest country in the world which is based on the United Nations World Happiness Report. The country has good public education, infrastructure, and universal healthcare system. The average annual income for resident in Netherlands is $50,670.

Top industries Netherlands are: agro-industries, electrical machinery and equipment, metal and engineering products, chemicals, construction, petroleum, microelectronics, and fishing.

Conclusion

European countries are one of the locations in the world where you can seek a career opportunity that meets your desire standard of living and aspirations in life. However, when considering the top 10 highest paying countries in Europe above as a choice of residence to pursue a career, you should endeavor to keep in mind that some of these countries have their own cultures, languages, industries, policies, and working conditions. Depending on your skills, work experience, and personal preference, you can opt for employment in one of these high paying countries in Europe.

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