Average Salary in Montenegro 2024

Montenegro Salary Guide: Unveiling the Pay Scale, Wage Gap, and Salary Yearly Increments with a Breakdown over Education Level and Years of Experience. Explore the intricate details of salaries in Montenegro as we delve into the pay scale, exposing the wage gap and shedding light on salary yearly increments. In this comprehensive guide, we present a breakdown over education level and years of experience, allowing you to understand the factors that influence earnings in this vibrant country. Stay informed, make empowered decisions, and navigate the Montenegrin job market with confidence.
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 Montenegro in 2024?

What is the average salary in Montenegro in 2024?
720EUR
(EUR 8,700 yearly)
Low 330 EUR
Average 720 EUR
High 3,200 EUR
You can expect to earn around EUR 720 per month if you work in Montenegro. Keep in mind that salaries can range from EUR 330 (lowest average) to EUR 3,200 (highest average, actual maximum salary is higher). This average salary includes housing, transport, and other benefits. Salaries differ greatly depending on the career. For detailed salary information on specific job titles, please refer below.
In comparison with average salary in Montenegro in 2023, salaries changed by +0.8% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison between 2023 and 2024 can be done at the year's end.

Pay Scale and Salaries in Montenegro

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than EUR 3,200, 75% of the people earn EUR 1,000 or less. 50% employees earn less EUR 700 or less, 25% of the employees earn less than EUR 530.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than EUR 3,200, 75% of the people earn EUR 1,000 or less. 50% employees earn less EUR 700 or less, 25% of the employees earn less than EUR 530.

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 Montenegro the minimum salary is EUR 330.

Median Salary

In Montenegro, the median salary of EUR 570 represents the middle point of all salaries in a dataset. This metric offers a more equitable perspective on income distribution and is frequently employed to assess average earnings across different 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 Montenegro the salary ranges from EUR 330 to EUR 3,200.

Annual Salary Increments in Montenegro

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

In 2024, the average salary increment for Montenegro employees was 0.8%. Please note that this is an average across all job sectors. On a global scale, the average for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024 employees in Montenegro 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%.

Historical Graph of Annual Salary Increments in Montenegro

Employees based in Montenegro have experienced a salary increase averaging 3.4% per year in recent years. This translates to a range of 0.8% to 5.5% increment per year.Download chartGet chart linkShare on FacebookShare on Twitter
On an average, employees in Montenegro have received a salary increase ranging from 0.8% to 5.5% per year in recent years. This translates to an average increment of 3.4% per year.

Salary Forecast and Trends for the Future in Montenegro

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 3.3%. Estimated range is between 1.8% and 5.0%.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 3.3%. Estimated range is between 1.8% and 5.0%.

Gender Wage Gap in Montenegro

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

Actual wage gap in Montenegro is 9.0%.Download chartGet chart linkShare on FacebookShare on Twitter
The gender pay disparity in Montenegro is 9.0%.
It's due to many factors, such as:
  • Discrimination against a specific gender.
  • On average, women have a 10% higher number of days of paid vacation than men each year.
  • Men are more likely than women to have a college degree.
  • Females are more inclined than males to assume caregiving responsibilities for children and elderly relatives.
  • Part-time employment is disproportionately dominated by women, who usually earn less than their full-time counterparts.
  • Men are more likely to work in higher-paying occupations than women.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

Completing high school and earning a bachelor's degree comes with a plethora of benefits. First and foremost, it significantly enhances career opportunities, allowing for higher income potential and greater access to diverse job prospects. 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

Completing high school and obtaining a bachelor's degree brings immense benefits. Firstly, it paves the way for better career prospects, unlocking higher earning potential and enabling access to a wider array of job opportunities. Apart from financial advantages, pursuing a bachelor's degree nurtures personal growth, enhances critical thinking skills, and offers the opportunity to specialize in a specific field of interest. It also facilitates valuable networking avenues and the cultivation of a global outlook. Ultimately, the journey from high school to a bachelor's degree is a transformative adventure that leads to a more gratifying 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. illustrates a profound commitment to expanding human understanding and forging a transformative and influential 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 15%-19% 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 approximately 8%-12%. Expertise and leadership yield higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 19%-23% 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 15%-19% 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 about 8%-12%. Expertise and leadership result in 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 19%-23% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Montenegro

What is the average hourly wage in the Montenegro?

Average Hourly Wage
4EUR
Low 2 EUR
Average 4 EUR
High 19 EUR

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

  • Income instability: Hourly wages may result in irregular or fluctuating income, making it challenging to budget and plan for expenses.
  • 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 typically connected to full-time employment.
  • Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can disturb work-life balance and make it difficult to maintain consistent routines.
  • Uncertain job security: Compared to salaried positions, job insecurity can be heightened in hourly positions due to their vulnerability to layoffs, downsizing, or changes in demand.
  • Limited career advancement: Some hourly positions within the organization may offer limited opportunities for career growth, professional development, or upward mobility.
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 Montenegro

What are the best paying jobs in Montenegro?

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

Highest paying jobs Montenegro?

  1. Surgeon (EUR 3,200)
  2. Doctor (EUR 2,900)
  3. Chief Executive Officer (CEO) (EUR 2,700)
  4. Registered Nurse Anesthetist (EUR 2,700)
  5. Dentist (EUR 2,600)
  6. Airline Pilot (EUR 2,500)
  7. Intellectual Property Lawyer (EUR 2,400)
  8. Marketing Manager (EUR 2,100)
  9. Marketing Director (EUR 2,100)
  10. Sales Director (EUR 2,000)
  11. Sales Manager (EUR 2,000)
  12. Petroleum Engineer (EUR 2,000)
  13. Brand Manager (EUR 1,900)
  14. Marketer (EUR 1,900)
  15. Judge (EUR 1,900)
  16. Treasurer (EUR 1,900)
  17. Controller (EUR 1,900)
  18. Pharmacist (EUR 1,800)
  19. Tax Lawyer (EUR 1,800)
  20. Lawyer (EUR 1,800)
List with worst paid jobs in MontenegroDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Montenegro?

  1. Cashier (EUR 340)
  2. Childcare Worker (EUR 360)
  3. Stock clerk (EUR 370)
  4. Elder Care Worker (EUR 370)
  5. Receptionist (EUR 380)
  6. Bartender (EUR 410)
  7. Food and beverage server (EUR 420)
  8. Janitor (EUR 420)
  9. Waiter (EUR 420)
  10. Tour Guide (EUR 430)
  11. Customer Service Representative (EUR 510)
  12. Hotel Concierge (EUR 520)
  13. Rehabilitation Counselor (EUR 530)
  14. Travel Agent (EUR 570)
  15. Secretary (EUR 590)
  16. Painter (EUR 610)
  17. Carpenter (EUR 630)
  18. Bus Driver (EUR 640)
  19. Artist (EUR 650)
  20. Truck Driver (EUR 660)
List with best paid industries in MontenegroDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (EUR 2,000)
  2. Business and Management (EUR 1,700)
  3. Marketing and Sales (EUR 1,600)
  4. Engineering (EUR 1,500)
  5. Law (EUR 1,400)
  6. Accounting and Finance (EUR 1,400)
  7. Computer and Information Technology (EUR 1,400)
  8. Transportation and Logistics (EUR 1,300)
  9. Science (EUR 1,300)
  10. Education and Training (EUR 1,100)
  11. Other (EUR 790)
  12. Hospitality and Tourism (EUR 670)
  13. Social Services (EUR 550)
  14. Services (EUR 500)