Average salary in Finland

Finland, renowned for its high quality of life and robust social welfare system, also boasts a competitive job market and relatively high average salaries. Understanding the intricacies of the Finnish job market, including regional differences, common industries, and sector-specific salaries, provides valuable insights for both job seekers and employers.

Average salary

In 2024, the average monthly earnings in Finland stand at €3,974, or €47,688 per year. This figure reflects the nation’s overall economic stability and commitment to fair wages across various sectors. However, it’s crucial to delve deeper into regional nuances and industry-specific data to grasp a comprehensive understanding of salary trends.

Regional variances and cost of living

Exploring Finland’s regional variances in salaries and cost of living sheds light on the diverse opportunities and lifestyles available across the country’s geographical landscape.

Helsinki Metropolitan Area

The average salary in the Helsinki Metropolitan Area, including Helsinki, Espoo, and Vantaa, surpasses the national average, with professionals often earning around €4,200 per month. This reflects the region’s economic prominence, driven by finance, technology, and research-driven industries. However, the higher cost of living in Helsinki, particularly in terms of housing and transportation, is a factor to consider for residents.

Southern Finland

In cities like Turku, salaries are comparable to those in the Helsinki Metropolitan Area, averaging around €4,000 per month. The region’s economic vitality, fueled by industries such as technology, healthcare, and education, contributes to its competitive salary levels. While the cost of living remains relatively high, it may present more affordable housing options compared to Helsinki.

Western Finland

Cities like Tampere and Vaasa offer average salaries ranging from €3,500 to €4,000 per month. Tampere’s strong industrial base and educational institutions contribute to its economic prosperity, while Vaasa’s focus on the energy and technology sectors provides employment opportunities with a competitive salary-to-cost-of-living ratio.

Northern and Eastern Finland

In regions like Oulu and Kuopio, average salaries range from €3,000 to €3,500 per month. While lower than in urban centers, these salaries reflect the region’s economic stability and the presence of industries such as technology, forestry, and healthcare. The lower cost of living in these areas, particularly in terms of housing, offsets the modest income levels.

Rural and remote areas

Average salaries in rural and remote areas vary widely depending on industry presence and economic activity. In general, professionals may expect to earn between €2,500 and €3,000 per month in these regions. While salaries may be lower, the lower cost of living and quality of life factors, such as access to nature and community-oriented living, contribute to their appeal.

Common industries and salaries

Finland’s diverse economy encompasses several thriving industries, each with its own salary dynamics:

• Technology and innovation. Finland is home to globally renowned technology companies such as Nokia and Rovio. The technology sector offers competitive salaries, particularly for skilled professionals in software development, engineering, and data science. Average salaries in this industry often exceed €5,000 per month.
• Manufacturing. With a strong tradition of manufacturing excellence, industries like machinery, forestry, and automotive manufacturing play a significant role in Finland’s economy. Salaries in manufacturing vary depending on the specific sector and skill level, ranging from €3,000 to €4,500 monthly.
• Healthcare and education. Finland prioritizes public services such as healthcare and education, resulting in relatively stable salaries for professionals in these sectors. Nurses, teachers, and healthcare specialists typically earn between €3,000 and €4,500 per month, depending on experience and qualifications.
• Finance and banking. Helsinki‘s status as a financial center attracts professionals in banking, finance, and investment. Salaries in these sectors are among the highest in the country, with senior executives and finance experts earning upwards of €6,000 monthly.

Minimum wage

Finland does not have a specified minimum wage. The employer and employee have the option to mutually determine the method of compensation under the employment agreement. However, the salary requirements outlined in the relevant collective agreement may limit the extent of this independence.

Summary

In conclusion, Finland offers a competitive job market with attractive average salaries across various industries. Understanding regional differences, common sectors, and minimum wage regulations is essential for individuals navigating the Finnish labor market. With its emphasis on quality of life, innovation, and social equality, Finland continues to be an appealing destination for professionals seeking rewarding career opportunities.

If you liked the article and are more interested in salary information, compensation and benefits packages, talent trends, and more… Check out our salary platform for free!