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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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.
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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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