Average Salary in Åland Islands 2024

This insightful article provides a comprehensive overview of the salary landscape in the scenic Åland Islands. Exploring various aspects such as pay scales, wage gaps, yearly increments, and breakdowns based on education level or years of experience, it sheds light on the dynamic nature of salaries in this region. Whether you are a job seeker, employer, or simply curious about the local economy, this informative piece offers valuable insights into salary trends and factors influencing earning potential in Åland Islands.
Please be aware that the data we are providing is as accurate as possible at this early stage of the year 2024.

However, as we gather more data for 2024, we make adjustments to ensure the highest level of precision.

What is the average salary in Åland Islands in 2024?

What is the average salary in Åland Islands in 2024?
2,500EUR
(EUR 29,800 yearly)
Low 1,200 EUR
Average 2,500 EUR
High 11,000 EUR
In Åland Islands, individuals usually earn an average salary of EUR 2,500 per month. Nonetheless, salaries can span from EUR 1,200 (lowest average) to EUR 11,000 (highest average, actual maximum salary is higher). The indicated salary incorporates housing, transport, and other benefits. There are significant variations in salaries across diverse professions. To find out about specific job titles and their respective salaries, please see the information below.
In comparison with average salary in Åland Islands in 2023, salaries changed by +0.8% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison 2023 and 2024 we are able to do it at the end of the year.

Pay Scale and Salaries in Åland Islands

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than EUR 11,000, 75% of the people earn EUR 3,500 or less. 50% employees earn less EUR 2,400 or less, 25% of the employees earn less than EUR 1,800.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than EUR 11,000, 75% of the people earn EUR 3,500 or less. 50% employees earn less EUR 2,400 or less, 25% of the employees earn less than EUR 1,800.

Minimum Wage and Starting Salary

Minimum Wage and Starting Salary refers to the fundamental pay levels for entry-level positions. It encompasses the legally mandated minimum wage and the initial compensation offered to new hires, impacting job seekers and employers alike. Understanding these figures is crucial for ensuring fair labor practices and successful career beginnings. In Åland Islands the minimum salary is EUR 1,200.

Median Salary

The median salary for Åland Islands is EUR 2,000, depicting the middle point of all salaries in a dataset. This figure provides a more balanced view of income distribution and is commonly used to estimate average earnings in various professions and industries.

Salary range and Percentile

Salary Range refers to the span between the lowest and highest salaries in a given dataset, indicating the scope of potential earnings. Percentile, on the other hand, represents a specific point in the range, showing how a salary compares to others in the dataset, making it useful for benchmarking pay levels. In Åland Islands the salary ranges from EUR 1,200 to EUR 11,000.

Annual Salary Increments in Åland Islands

What is the average annual salary increment in the Åland Islands? How frequently do employees receive salary raises?

In 2024 employees in Åland Islands received around 0.8% salary increase. Please note that this is average across all job sectors. In comparison worldwide average for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024 the workforce in Åland Islands experienced approximately 0.8% salary growth. It's important to highlight that this figure represents the average across diverse job sectors. Globally, the average salary increase for 2024 stands at 0.8%.

Historical Graph of Annual Salary Increments in Åland Islands

On average, employees in Åland Islands experienced a salary increase ranging from 0.8% to 6.2% per year in recent years. This translates to an average increment of 3.6% per year.Download chartGet chart linkShare on FacebookShare on Twitter
Employees in Åland Islands received in recent years salary increase from 0.8% to 6.2% on average per year. It means 3.6% increment per year on average.

Salary Forecast and Trends for the Future in Åland Islands

There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 3.5%. Estimated range is between 1.9% and 5.3%.Download chartGet chart linkShare on FacebookShare on Twitter
There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 3.5%. Estimated range is between 1.9% and 5.3%.

Gender Wage Gap in Åland Islands

What is the difference in pay between mens and womens? Men vs. women salary comparison.

In Åland Islands, the actual wage gap amounts to 10.0%.Download chartGet chart linkShare on FacebookShare on Twitter
Åland Islands has an actual wage gap of 10.0%.
It's due to many factors, such as:
  • Discrimination against a specific gender.
  • On average, women take 10% extra days off as paid vacation annually in comparison to men.
  • Compared to men, women are less likely to hold a college degree.
  • Caregiving responsibilities for children and elderly relatives are more often taken on by women than men.
  • The majority of part-time workers are women, and they typically earn less than those in full-time positions.
  • Women are more likely to work in lower-paying occupations than men.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

Completing high school and obtaining a bachelor's degree brings a multitude of benefits. Firstly, it significantly enhances one's career prospects, leading to higher earning potential and access to a broader range of job opportunities. Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge.Download chartGet chart linkShare on FacebookShare on Twitter

The Benefits of Transitioning from High School to a Bachelor's Degree

The successful completion of high school and attainment of a bachelor's degree bring forth a wide range of advantages. Primarily, they greatly enhance one's career prospects by increasing earning potential and opening doors to a broader range of job opportunities. Apart from monetary benefits, pursuing a bachelor's degree nurtures personal growth, fosters critical thinking skills, and enables specialization in a chosen field of interest. Furthermore, it facilitates valuable networking possibilities and promotes the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a transformative endeavor that leads to a more enriching and prosperous future.

The Advantages of Progressing from a Bachelor's to a Master's Degree

Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. This advanced education often leads to even greater earning potential and career advancement opportunities. Additionally, master's programs often emphasize research and critical thinking, honing these skills for practical application in professional settings. Networking opportunities expand further, connecting students with experts in their fields. Lastly, pursuing a master's degree is a significant personal achievement, reflecting dedication and a commitment to lifelong learning, which can contribute to personal growth and fulfillment.

The Advantages of Advancing from a Master's to a Ph.D. Degree

Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge. This expertise often leads to prestigious career opportunities in academia, research, and leadership positions in various sectors. Ph.D. programs foster advanced critical thinking, problem-solving, and analytical skills, making graduates highly adaptable and innovative. Networking opportunities expand even further, with collaborations and connections in the global academic and professional communities. Pursuing a Ph.D. epitomizes a lifelong dedication to acquiring knowledge and paving the way for an inspiring and impactful career.

Salary Breakdown Based on Career Levels

How does an individual's salary evolve as time goes on?

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 14%-18% higher, reflecting higher skill level and value to the company. Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of nearly 5%-9%. Expertise and leadership acquire higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 20%-24% higher, mirroring strategic influence and heightened leadership contributions.Download chartGet chart linkShare on FacebookShare on Twitter

Salary increase going from Junior to Intermediate

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 14%-18% higher, reflecting higher skill level and value to the company.

Elevation from Intermediate to Senior Role Brings Salary Advancement

Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of around 5%-9%. Expertise and leadership garner higher recognition and greater financial rewards.

Executive Promotion: Salary Increase from Senior Position

Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 20%-24% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Åland Islands

What is the average hourly wage in the Åland Islands?

Average Hourly Wage
15EUR
Low 7 EUR
Average 15 EUR
High 64 EUR

What are the disadvantages of being paid on an hourly wage basis?

  • Income instability: Planning for expenses and budgeting can be challenging when dealing with hourly wages that result in irregular or fluctuating income.
  • Limited earning potential: Hourly workers may face limitations in terms of the number of hours they can work, which can restrict their earning potential compared to salaried positions.
  • Lack of benefits: Hourly workers often have fewer or limited benefits such as paid time off, health insurance, retirement plans, and other perks commonly associated with full-time employment.
  • Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can disrupt work-life balance and make it challenging to maintain consistent routines.
  • Uncertain job security: Job insecurity can be higher in hourly positions compared to salaried positions due to susceptibility to layoffs, downsizing, or changes in demand.
  • Limited career advancement: Some hourly roles might have restricted possibilities for career advancement, professional growth, or upward movement within the organization.
It's important to note that these disadvantages may not apply universally and can vary depending on specific job circumstances and individual preferences.

Highest and Lowest Paying Jobs in Åland Islands

What are the best paying jobs in Åland Islands?

List with best paid jobs in Åland IslandsDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs Åland Islands?

  1. Surgeon (EUR 10,900)
  2. Doctor (EUR 9,800)
  3. Chief Executive Officer (CEO) (EUR 9,400)
  4. Registered Nurse Anesthetist (EUR 9,100)
  5. Dentist (EUR 8,700)
  6. Airline Pilot (EUR 8,400)
  7. Intellectual Property Lawyer (EUR 8,100)
  8. Marketing Manager (EUR 7,200)
  9. Marketing Director (EUR 7,200)
  10. Sales Director (EUR 6,800)
  11. Sales Manager (EUR 6,800)
  12. Petroleum Engineer (EUR 6,700)
  13. Brand Manager (EUR 6,600)
  14. Marketer (EUR 6,600)
  15. Judge (EUR 6,500)
  16. Treasurer (EUR 6,400)
  17. Controller (EUR 6,400)
  18. Pharmacist (EUR 6,200)
  19. Tax Lawyer (EUR 6,100)
  20. Lawyer (EUR 6,100)
List with worst paid jobs in Åland IslandsDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Åland Islands?

  1. Cashier (EUR 1,200)
  2. Childcare Worker (EUR 1,300)
  3. Stock clerk (EUR 1,300)
  4. Elder Care Worker (EUR 1,300)
  5. Receptionist (EUR 1,300)
  6. Bartender (EUR 1,500)
  7. Food and beverage server (EUR 1,500)
  8. Janitor (EUR 1,500)
  9. Waiter (EUR 1,500)
  10. Tour Guide (EUR 1,500)
  11. Customer Service Representative (EUR 1,800)
  12. Hotel Concierge (EUR 1,800)
  13. Rehabilitation Counselor (EUR 1,900)
  14. Travel Agent (EUR 2,000)
  15. Secretary (EUR 2,100)
  16. Painter (EUR 2,100)
  17. Carpenter (EUR 2,200)
  18. Bus Driver (EUR 2,300)
  19. Artist (EUR 2,300)
  20. Truck Driver (EUR 2,300)
List with best paid industries in Åland IslandsDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (EUR 7,000)
  2. Business and Management (EUR 5,900)
  3. Marketing and Sales (EUR 5,500)
  4. Engineering (EUR 5,000)
  5. Law (EUR 4,800)
  6. Accounting and Finance (EUR 4,700)
  7. Computer and Information Technology (EUR 4,600)
  8. Transportation and Logistics (EUR 4,500)
  9. Science (EUR 4,500)
  10. Education and Training (EUR 3,700)
  11. Other (EUR 2,800)
  12. Hospitality and Tourism (EUR 2,300)
  13. Social Services (EUR 1,900)
  14. Services (EUR 1,800)