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Austria

Basic Economic Summary

Overview

  • Local Languages: German, English, French
  • Capital: Vienna
  • Currency: Euro (EUR)
  • Population: 8.859 million
  • Date Format: dd/mm/yyyy

Useful Information

  • GDP Per Capita (in USD): 50,137.66
  • Exchange Rate (EUR/USD): 1.19

Local Universities

Top Local Universities

University Rankings
Medizinische Universität Wien Ranking in Austria: 3, World Ranking: 409
TU Wien Ranking in Austria: 1, World Ranking: 169
University of Innsbruck Ranking in Austria: 2, World Ranking: 382
Graz University of Technology Ranking in Austria: 4, World Ranking: 515
Johannes Kepler University Linz Ranking in Austria: 6, World Ranking: 619

Salary Data

Average Salary of Jobs (Per Month)

The table below shows the average salaries of some jobs in Austria. Please refer to SalaryExplorer for more information.

Job Title Average Salary Range (EUR) Average Salary Range (USD)
Surgeons/Doctors 7,050 - 21,800 8,376 - 25,901.27
Judges 5,920 - 18,300 7,033.02 - 21,740.65
Lawyers 4,790 - 14,900 5,690.84 - 17,702.59
Bank Managers 4,510 - 14,000 5,358.36 - 16,632.94
Chief Executive Officer 4,230 - 13,100 5,025.52 - 15,563.68
Chief Financial Officers 3,950 - 12,200 4,692.59 - 14,493.58

Talent Sourcing Tips

Taxes

Employer Payroll Tax

The employer payroll tax is calculated as follows:

Category Rate
SIckness 3.78
Unemployment 3.00
Pension 12.55
Accident 1.20
Miscellaneous 0.70
Total 21.23

Employee Payroll Tax

The employee payroll tax is calculated as follows:

Category Rate
SIckness 3.87
Unemployment 3.00
Pension 10.25
Accident 0.00
Miscellaneous 1.00
Total 18.12


Employee Income Tax

Income Tax in Austria is calculated as follows:

Income (EUR) Tax Rate (%)
11,000 and below 0
11,001 to 18,000 20
18,001 to 31,000 35
31,001 to 60,000 42
60,001 to 90,000 48
90,001 to 1,000,000 50
above 1,000,000 55


Minimum Wage & Payroll

Minimum Wage

The minimum wage in Austria is EUR1500 per month.

Payroll Cycle

The employee must be paid monthly.

Bonus

13th month salary

Their 13th month salary is normally paid at the end of June and the 14th month salary is paid at the end of November.

Working Hours & Statutory Leave

Working hours

The standard number of working hours in Austria is 8 hours a day or 40 hours a week.

Overtime pay

In terms of overtime, overtime will be paid at a rate of 50% premium for work. Hours in excess of those stated in the employment contract would be paid at a rate of 125 of the employee’s salary. Overtime on Sundays, public holidays and between 12:00am to 7:00am will be compensated at a rate of 200%.

Public Holidays

Number of public holidays is 13 days. The list of holidays can be found here.

Leaves

Annual Paid Leave

All employees are entitled to 30 days of vacation annually. However, if you have for over 25 years, you are entitled to 36 days of vacation.

Sick Leave

Paid sick leave in Austria is given for a period of upto 12 weeks during an illness or following an injury.

Parental Leave

Female employees are entitled to 8 weeks preceding the time of delivery and 8 weeks following the childbirth. Employees receive pay from the social insurance system.

Paternity leave is unpaid and given until the child has reached the age of 2 years.

Offboarding & Termination

Termination Process

Termination in Austria can be done on a mutual consent basis.There can also be dismissal of the employee by the employer on the grounds of a justified reason.

Notice Period

Notice period depends on the duration of the employment:

  • Upto 2 years - 6 weeks notice
  • 2 - 5 years - 2 months in advance
  • 5 - 10 years - 3 months in advance
  • 15 - 25 years - 4 months in advance
  • 25+ years - 5 months in advance

Severance Pay

Employers must pay severance pay at the rate of 1.53% of their gross monthly salary.

Probation period

The probation labour contract is one month.

VAT

20%

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