Salaries in Cyprus for Foreigners

The average salary in the Republic of Cyprus is 2,170 euros per month, according to data from Salary Explorer. However, researchers note that income levels vary significantly across industries and are influenced by other parameters.

In this article, we’ll discuss the earnings that citizens of Cyprus and foreigners can expect. Previously, we covered The Most In-Demand Professions in Europe.

Earnings in the republic range from 550 euros (the lowest average salary) to 9,660 euros (the highest), with the actual maximum income being higher. Salary Explorer specifies that this average salary includes housing, transportation, and other benefits

Researchers also provide median figures, which typically reflect more realistic data. The median salary is reported to be 1,870 euros.

The size of the minimum wage in the republic is determined by separate decrees. According to information from the Cyprus Department of Labour Relations, as of January 1, 2024, the following minimum wage rates are set.

Every employee working full-time should receive an initial monthly gross salary of no less than 1,000 euros. Employees who have not continuously worked for the same employer either before or after January 1, 2024, must receive at least 900 euros gross for a full day of work starting from January 1, 2024.

The duration of working hours should be as applied at the time the decrees came into effect, determined either by a collective agreement or a written agreement between the employer and the employee.

These provisions do not apply to domestic workers, agricultural and livestock workers, sailors, and hotel business employees. Separate regulations from 2020 apply to them.

Hotel workers' pay is determined by their position and the quality of job performance. The minimum payment for them involves a sliding scale and the right to service in addition to the basic pay. However, the payments do not include any other allowances for the employee or monetary compensation for working on a mandatory rest day (the 6th day). The minimum monthly wage in the hotel business is based on a 38-hour workweek for a five-day basis.

To see the pay scale for hotel employees by professions, you can visit the Labour Department website.

Astute readers may have a valid question: how can there be figures like 550 euros with a minimum official wage of 1,000 euros (see above)? The reason is that we are talking about actual earnings, which may correspond to part-time work or piece-rate payment.

Salary Explorer experts have presented a salary scale, grouping the most common and recurring indicators to illustrate more vividly the income that job seekers can expect. This method is more accurate than simply determining the average salary and provides more valuable information.

According to the presented data, approximately 65% of all workers receive wages ranging from 1,240 to 3,180 euros. About 20% earn less than 1,240 euros. 10% of workers receive between 3,180 and 4,070 euros, and only 5% earn 4,070 euros and above.

The size of payment is determined by the level of experience. In Cyprus, employees with two to five years of experience usually earn 32% more than entry-level workers in all industries and areas.

Specialists with more than five years of experience earn 36% more than those with less than 5 years of experience. After ten years of work, salaries increase by 21%, and for those who have worked for more than 15 years, an additional 14%.

These figures should be used as approximate estimates since data for individual professions and positions may vary.

The difference in salary based on the level of education varies widely from place to place and largely depends on the field of activity.

The connection between higher education and higher pay is evident, but the pertinent question is: what increase in income can be expected?

The results of the Salary Explorer study showed that employees with a college diploma earn, on average, 17% more than those who have just completed high school.

Those with a bachelor’s degree earned 24% more than graduates of vocational schools. Specialists with a master’s degree earned 29% more than bachelor’s degree holders.

Experts with a doctoral degree earned 23% more than those with a master’s degree, performing the same job.

Researchers note that higher education as a means of transitioning to a higher-paying position is an effective strategy. On average, those who change jobs after obtaining a higher degree receive an increase of approximately 10% more than the usual annual raise.

Unlike many other European Union countries, the gender pay gap in the Republic of Cyprus is not as significant, standing at only 6% (for comparison, it’s around 12% in Germany). Men earn 2,230 euros, while women earn 2,100 euros.

However, there are some professions in which women’s income equals or even exceeds that of men, such as doctors, pharmacists, HR specialists, and so on.

The lowest average earnings on the island are in agriculture (918 euros), while the highest income is in the financial and insurance sectors (around 4,000 euros).

According to the Cyprus Statistical Service, the incomes of foreign citizens look as follows:

The top ten highest-paid professionals in Cyprus are (salary in euros):

According to Numbeo, approximate monthly expenses for one person amount to 845.4 euros, excluding rent. A family of four can expect to spend around 2,963.1 euros during the same period.

In Nicosia, renting a one-bedroom apartment costs between 531 and 635 euros, while a three-bedroom apartment ranges from 974 to 1,230 euros per month.

Limassol has higher rental costs. Renting a one-bedroom apartment ranges from 1,168 to 1,563 euros, while a three-bedroom apartment costs between 2,100 and 2,561 euros per month.

Despite the relatively high cost of living, Cyprus is an attractive destination for relocation and employment. Here you can find a good job so that you can not only provide for yourself, but also help your loved ones back home.

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In our blog, we extensively cover relocation to European countries. All articles are available here.