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Salary: This is how much the industry and studying have an influence on income in Germany

2020-09-18T10:14:49.660Z


It is not just the position that plays a role in a German's lifetime income - the industry and the qualification are also decisive. A study shows the enormous differences.


It is not just the position that plays a role in a German's lifetime income - the industry and the qualification are also decisive.

A study shows the enormous differences.

How much money can you

earn

in the course of a professional life

- and above all: in which

positions

and in which

industries

?

A new study by Salary.de provides some facts that should not only be of

interest to

career

changers

.

For the study, the experts based on

740,984 records analyzed the average gross lifetime income of Germans *.

This is the average lifetime income that skilled workers achieve

Managers

- regardless of gender - achieved a

lifetime income

of 3.87 million euros, while

skilled workers

would come to 1.91 million euros, according to the report on the study.

It is noticeable that the level of income among

women from the age of 35

almost stagnates.

“At an advanced age, the staff responsibility factor is crucial for further wage growth.

Since the proportion of female managers is still lower, salaries for women in their early 40s reach a plateau, ”explains Philip Bierbach, Managing Director of Salary.de.

Read here

: Top salaries 2020: These professions have the most money

Lifetime income: earn up to a million more with studies

Paid makes the

lifetime income

therefore also a

study

.

"If the analysts take into account all academics, i.e. employees with a doctorate, bachelor, master, 1st and 2nd state examination, master's degree, diploma or license to practice medicine, the lifetime income is around 2.85 million euros," the press release says on salary.de.

“For comparison: that of non-academics is around one million euros lower (1.82 million euros).” A difference of one million, a considerable difference.

However, there are also

some significant differences in

salaries

within the

academic group

: “If the analysts compare the lifetime earnings at the end of their career, academics with a

master’s

degree

have earned around 300,000 euros more than employees with a

bachelor’s degree,

” say the salary experts .de also with.

Masters

graduates would have accumulated

a

lifetime

income

of 910,100 euros

at the age of

40

and thus “overtook” the Bacher graduates with 894,000 euros to date.

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You can also read:

Most overtime is in these professions - what about in your industry?

Salary study: degree is not necessarily decisive

But even employees without an academic qualification can receive “a high salary”, as salary.de further reports on the study - for example, if they

take

on

management responsibility

.

For example, as a manager in

logistics

: "You will receive 3.9 million euros by

the end of

your

career," reports the portal.

Key account

managers also have

a lucrative lifetime income of 3.1 million euros,” the experts say.

"In contrast,

educators

receive

comparatively little with around 1.6 million euros."

Read the Corona crisis here: These are the salaries of employees in systemically important occupations

Big differences in wages depending on the occupation

The

salaries also

differ

significantly

between the

industries

: "The incomes in

hotels

and

restaurants

, for example, are traditionally low," reports the portal - they are around 14 percent below the

average in Germany

.

“Young professionals receive around 26,000 euros a year here.

At the end of their working life they will have earned around 1.3 million euros. "

According to this, employees in the

automotive industry

receive significantly more

: “Employees receive a starting salary of 40,800 euros per year.

At the age of 45 they already accumulated more than employees in hotels and restaurants at the end of their careers. ”And:“ At

retirement

there is a sum of around three million euros. ”In IT it is around 2.9 million euros.

Also read

: In this state, workers have the most vacation and public holidays

Experts: Further training pays off in terms of salary

What about

further training

?

Employees have many opportunities to "actively influence" their lifetime income, writes the portal.

“Anyone who wants to continue their education - be it through a

master's

degree

or an

academic degree

,

for example

- shouldn't be too shy about 'interrupting' their career, according to the experts.

In most cases it pays off.

Of course, age and the number of years of work also play a role in terms of salary.

Interested parties can find out more about the study here.

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Source: merkur

All life articles on 2020-09-18

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