Remember that Munich has some of the highest salaries in Germany to help you afford the higher cost of living. The average salary in Munich is about €4,687 per month. The cost of living in Munich for a family is about €5,200 per month.
A good salary in Germany is usually above Germany's median salary of 43.750 euros gross a year and above the average gross wage of 50.250 euros gross a year. A salary between 64.000 and 70.000 euros gross a year is considered a good salary in Germany.
Naturally, the cost of living depends on your needs and lifestyle. However, living in Munich is relatively expensive compared to other German cities. As a rule, you can expect to spend 1,300 Euros-2,000 Euros monthly as a single person. Most of this will be for rent.
A good salary in Germany depends on your field, experience, and lifestyle aspirations. Generally, a salary between €64,000 and €70,000 gross annually is considered very good. This translates to a net salary of around €40,000 to €43,000 per year, offering a comfortable standard of living in most German cities (source).
Is 55,000 euros a year a good salary in Germany? Yes, it is as it is more than the national median salary for 2024, which was 45.8K euros a year while the national average was 52.3K euros.
We Asked People in Munich How Much They Earn | Easy German 499
What is the top 10 percent salary in Germany?
The result: anyone in Germany who wants to be among the top ten percent of earners needs to earn 80,000 euros – and 97,000 euros is required for the top five percent. Anyone who earns 143,750 euros a year belongs to the highest-earning one percent of employees. In the strong economic areas, salaries are booming.
What are the current income tax brackets in Germany? As of the latest update, tax brackets are: 0% for income up to €11,604; 14%-42% for income between €11,604 and €66,760; 42% for income between €66,761 and €277,825; and 45% for income above €277,826.
For couples without children, the range is between EUR 26,212 and EUR 69,900. Couples with two children statistically belong to the middle class if they have an income between EUR 36,698 and EUR 97,860.
Frankfurt am Main (average salary: €66,529) leads due to its financial sector dominance. Munich (€62,000) combines high salaries with exceptional quality of life due to its tech and automotive industries.
What monthly salary is considered rich in Germany?
Those earning €5,859 or more per month are considered high earners in Germany. While they may fall into the 42% tax bracket, their actual average tax rate is around 19%.
1. Chemnitz. Coming at number one, Chemnitz is a city with a rich cultural history and an emerging student population. Known for its affordability, it offers excellent value for money while providing a supportive environment for international students.
What is the most expensive city in Germany? Munich has long been Germany's most expensive city, with high rent prices and living costs. According to the 2023 “Housing Cost Index” by Numbeo, Munich ranks as the priciest for rent and living expenses, surpassing cities like Frankfurt and Berlin.
What is the average hourly wage in Munich? The average hourly wage in Munich varies greatly depending on the industry and professional experience. In general, however, the average hourly wage is €25 per hour (source Statista, data from April 2023).
The estimated average salary for a PhD Student at TU Munich in Germany is €2,663 per year or €1 per hour, but some professionals have reported earning up to €4,208 (90th percentile). The typical estimated pay range is between €2,058 (25th percentile) and €3,563 (75th percentile).
The average salary in Germany for a full-time employee is €4,567/month, which accumulates to €54,800/year. The average salary in Germany for a part-time employee is €17.68/hr. The average monthly salary is €2,874, and the annual salary is €34,485.
Aviation, healthcare, IT and engineering, as well as the legal and judiciary sectors hold the highest-paying jobs in Germany. Germany is the world's third-largest economy, with a projected GDP of $4.74 trillion (€4.12tn) in 2025.
The result: anyone in Germany who wants to be among the top ten percent of earners needs to earn 80,000 euros — and 97,000 euros is required for the top five percent.
How much do you need to live comfortably in Germany?
As the bare minimum, a single person (e.g. a student) in Germany needs at least €992 per month (around $1,040 US dollars) or €11,904 per year to cover living expenses in Germany as of 2024. If you're a family of four, you can expect to spend an average of €3,389 per month (around $3,649 US dollars), excluding rent.
Income up to €9,408 per year is tax-free (as of 2020). In 2020, the initial tax rate is 14% and the top tax rate is 42% from a taxable income of €57,052.
In Germany, healthcare is funded by statutory contributions, which therefore entitles German citizens to free healthcare (Gesetzliche Krankenversicherung). In addition to this, you can also take out private health insurance (Private Krankenversicherung) to replace or top-up the cover that's offered by the state.
