How expensive is work(ing) in a cross-country comparison – for employees and employers? How does Austria compare with the countries of Central and South-Eastern Europe? Where are the ancillary wage costs for companies particularly high? And where do employees retain the highest net amount of their salary or wages, after deductions? A recent study conducted by the TPA advisory company provides answers to these questions.
In which Country employees retain the highest net amount of their salary or wages?
What is left after the deduction of social security and payroll tax, in the account? Austria is among the countries with the highest ancillary wage costs, especially for manager salaries.
In any case, it is worthwhile to take a careful look at these details, for the people who are sent, and those sending them, to work in other countries. Although the social security system in Austria is expensive, in most other countries there is no comparatively good system in the field of health insurance and pension benefits,” says Andrea Rieser.
How expensive is work? 11 countries under examination
- Austria is among the countries with the highest ancillary wage costs, especially for manager salaries.
- At a lower gross salary (“salaried income”), countries such as Hungary, Romania, the Czech Republic and Slovakia show higher, or similar high ancillary wage costs. On the other hand, Bulgaria, Albania or Serbia are clearly below Austria, when it comes to ancillary wage costs.
The current study was conducted in the spring/summer of 2017, by TPA expert and tax consultant Mag. Andrea Rieser and Dr. Wolfgang Höfle, TPA partners and social security experts.