Welcome, everybody! It´s an instant classic!
Let´s talk about money! For most of us a delicate topic to talk about, but it´s crucial to know a lot about it. Speaking about that fact that knowing your value could bring you more money per year. Unfortunately, most of us have no idea what they´re worth and what they must expect.
To reduce disappointment, read this article though 😉
During my student times, I had a lot of talks with students. A lot of them with unrealistic expectations according to their future income right after their degree. Here a simple fact, HR Managers know it damn well and they use it to their advantage. To defend the students all around the world I have to admit that it´s difficult to know what to expect after studying for many years, going to school, having almost no experience in work life, listening to rumors about wages and lived with part-time income or students’ loans at a pretty low level. Dropping any figure in that specific job interview could be a disaster under these conditions.
What to expect then?
First the sour grapes. You have to expect way less than experienced workers in less qualified jobs. But I´m telling you that the first contract after your degree will have lasting consequences for your work life. It makes a big difference accepting 30.000 € per annum or negotiating and signing a deal around 40.000 € per annum.
Another fact though will be the branch you step in. A big factor in signing a contract is starting in hospitality or energy, chemical, automobile or financial sector. For a marketing manager without job experience, it could be a margin about to 10.000 € per year. In addition to that, you must consider the location of the company. Cities like New York City or Paris could offer you more than a small city in Bosnia given that fact there´s another level of income in terms of costs of living. Jobs as working students and degrees like bachelor’s or Masters could bring another 3.000€ to 5.000€, but there are branches with no differences at all. You also must consider the kind of program you have studied the last couple of years and how many students are in competition with you. Therefore, make sure you inform yourself about wages in your sector you tend to go in and know what´s likely for an employee like you.
Payscale is a really good webpage for doing this. I recommend this page to all my readers. This page gives you everything you need to know about your future income. It will take you a couple of minutes answering some questions.
Other great pages for the German-speaking people around here are
There you could find any information about the specific wages and many people sharing their exact wages and years of experience or whatever.
In the end, I can tell you that the average salary you can expect right after your degree is about 43.000 € including every branch, sector, academical degree etc. This is particularly for Germany. Other countries like Austria 37.000 € and Switzerland around 72.500 CHF what is around 64.000 €.
The United States tend to go similar with around 80.000 US$ what is 64.000 €. The Brits likely tend to pay around 45.000 Pounds, what´s approximately 52.000 €.
All in all, you will earn good money but it´s up to you. Negotiate well and most importantly inform yourself beforehand.