Finland isn’t just the home of Santa Claus.
It’s also the home of one of the best economies, and it has a reputation for being one of the most innovative countries in the world.
If you are wondering what Finland’s average salary is, or how it compares to other countries, you’re in the right place.
Finland, located in northern Europe, has an average salary of 45,684 EUR/Year, which makes up to 3807 EUR/month. This amounts to about $4,207 USD/Month, according to the exchange rates in April 2023.
Compared to other countries in the world, Finland’s average salary is relatively high.
In this article, we will discuss the average salary in Finland, as well as outsourcing and comparison to other countries. We will also take a look at the cost of living in Finland.
Table of Contents
- What is the average salary in Finland?
- 4 factors that influence salaries in Finland
- Employee benefits in Finland
- The cost of living in Finland
- 3 key benefits of outsourcing to Finland
- Average salaries of other European countries
Let’s get started!
What is the average salary in Finland?
The average salary in Finland depends on the employee’s experience level, educational level, field of work, job title, and city you work in.
As of the fourth quarter of 2022, the average salary in Finland was 45,684 EUR/Year, which makes up 3807 EUR/month.
The average gross monthly salary in Finland typically includes transportation costs and other benefits.
In recent years, the average salary in Finland has increased significantly. This is due to a number of factors, including the booming Finnish economy. Source
To better understand the average salary in Finland, and other factors related to it, let’s look at some statistics.
1. Median salary
The median salary is the middle point of all salaries, which means that half of the workers earn more than the median salary and the other half earn less.
According to Statistics Finland, the median salary in Finland is 3,228 EUR/Month. That equates to 3,567 USD.
2. Maximum and minimum salary range
The average salary in Finland varies from 1,190 EUR (lowest average) to 20,900 EUR (highest average).
Maximum earnings can be much higher. The above number is the maximum average salary, not maximum earnings.
3. Annual average salary increase
Finland employees get an average of 6% salary increment every 12 months.
It is high compared to the average national salary increment, which is 3% every 16 months.
Let’s take a closer look at how much the salary increment is in different professions
4. Average annual increase by industry
This is how increment affects based on different professions.
Industry Annual Increment (In percentage)
| Banking | 1% |
| Information Technology | 3% |
| Travel | 5% |
| Education | 7% |
| Energy | 2% |
| Construction | 6% |
| Healthcare | 4% |
5. Average annual increase by experience level
This is how an employee’s experience level affects the average salary or increment rate:
| Junior Level | 3-5% |
| Mid-Career | 6-9% |
| Senior Level | 10-15% |
| Top Management | 15-20% |
4 factors that influence salaries in Finland
There are four primary factors that affect how much an employee earns: experience, education, the field of work, and your location.
Experience
The experience level is one of the most important factors that influence salaries in Finland.
| Experience Level In Work (In Years) | Increase in Salary (in percentage) |
| Under 2 Years | Base Salary |
| 2 to 5 years | +32% |
| 5 to 10 years | +36% |
| 10 to 15 years | +21% |
| 15 to 20 years | +14% |
| +20 years | +9% |
Education Level
The educational level is the second most important factor that determines salaries in Finland.
- In Finland, an employee with a Certificate or Diploma earns 17% more than an employee with a high school degree.
- An employee with Bachelor’s degree earns 24% more than people with only a diploma or certificate holders.
- Master’s degree holders earn 29% more than those with a Bachelor’s degree.
- And at last, Ph.D. holders earn 23% more than people with a Master’s degree.
Profession
The third most important factor that affects salaries in Finland is the profession.
| Profession | Median Monthly Earnings |
| Numerial Clerks | 2,836 EUR/Month |
| Technicians | 3,311 EUR/Month |
| School teachers | 3,111 EUR/Month |
| Shop salesperson | 2,575 EUR/Month |
| Cleaners and helpers | 2,080 EUR/Month |
| Personal care workers | 2,711 EUR/Month |
| Doctors | 7,451 EUR/Month |
| Nurses | 3,115 EUR/Month |
| Bus and heavy truck drivers | 2,994 EUR/Month |
| Managing directors | 10,910 EUR/Month |
By location
Your location in Finland also affects the salary.
In the capital area, for example, the average salary is higher than in other parts of Finland. The average salary in the capital area is around 5,010 EUR/Month.
Disclaimer: The salary information present in this article is based on various salary surveys. They are meant to serve as a guide only. The actual salary may differ based on many different factors.
Employee benefits in Finland
Besides a good salary, there are many other employee benefits in Finland.
In Finland, the most common employee benefits are
- Pension: In Finland, every employee is entitled to either a national pension or a statutory occupational pension based on their earnings.
- Social insurance: In Finland, employers and employees are required to contribute to social insurance funds. The funds are used to cover maternity, sick, and unemployment leave, insurance, and health insurance.
- Sick leave: Employees are entitled to paid sick leave in Finland.
- Maternity and paternity leave: Parental allowances are offered by Kela for 158 days. The parents can stay home and receive a partial allowance during this time.
- Unemployment: Employees are entitled to unemployment benefits in Finland.
- Vacation days (25 days/year): Employees are entitled to around 25 vacation days per year. This varies depending on the company and your field of work. Employees are paid the same amount during holidays. In addition to this, there are 12 public holidays each year.
Although Finland has many other employee benefits, these are the most important.
The cost of living in Finland
Finland is an expensive country to live in. The cost of living here is high, especially in the capital city Helsinki.
The average monthly expenses for a single person are around 866.29 EUR/Month without rent included. This includes food, transportation, healthcare, and other necessary expenses.
Accommodation
Like in most countries, city center living is more expensive than in the suburbs.
The average monthly rent for a one-bedroom apartment in the city center is around 1,042.59 EUR. Outside of the center, the average rent is around 825.86 EUR.
For a three-bedroom apartment, the average rent in the city center is around 2,030.00 EUR and 1384.38 EUR outside of the City Centre.
The cost of living also differs depending on your lifestyle. You can get away with a cheaper monthly cost if you plan and budget.
Food
A meal at an inexpensive restaurant cost around 12-15 EUR, while a three-course meal for two people at a mid-range restaurant will cost around 80 EUR.
A cappuccino costs around four euros while a bottle of water is around two euros.
A loaf of bread costs around two to three euros while a dozen eggs cost around three euros.
Transportation
The public transportation system in Finland is excellent and efficient. A monthly ticket for unlimited travel around the capital area costs around 60-70 EUR/month.
A one-way local ticket costs around three euros. Across the country tickets cost anywhere between 20-120 euros, depending on how early you buy the ticket, and what class you travel on.
Healthcare
The Finnish healthcare system is ranked as one of the best in the world. It is publicaly funded and residents are required to have health insurance.
3 key benefits of outsourcing to Finland
When it comes to outsourcing, Finland has a lot to offer. The country is known for its high quality of work, cost efficiency, and access to world-class talent.
1. High quality of work
One of the main reasons companies outsource to Finland is because of the high quality of work.
In a study, Finland was ranked as having the world’s most advanced education system.
Almost all Finns under thirty speak English. Aside from the Finnish language, Swedish is Finland’s second official language, and there are also many Finns who speak Russian as well.
The country has a long history of producing world-class talent, and this is reflected in the work that is done here.
2. Growing economy
Despite the steep downturn caused by the COVID-19, Finland’s economy has recovered quickly. Although the pandemic has overshadowed the outlook, Finland’s economy is forecast to grow by 2.6% in 2022.
This is thanks to the country’s strong fundamentals, such as a growing population, low unemployment rate, and high level of innovation.
3. One the leading in ICT and gaming
Finland is one of the leading countries in ICT and gaming development. This is due to the country’s strong startup sector, which provides a constant stream of new and innovative ideas.
Finland has a long history of producing world-class talent, and this is reflected in the work that is done here.
Finland is home to many successful startups, such as Supercell (makers of Clash of Clans), Rovio (makers of Angry Birds), and Slush (the world’s leading startup event).
If you’re looking for an outsourcing destination that can provide high-quality work, cost efficiency, and access to exceptional talent, Finland is a great option.
Additionally, Finland has world-class talent in the film and content creation industries. Bordertown is one of the latest successful productions to come out of Finland, which was later sold to Netflix.
Average salaries of other European countries
Let’s go through some other European countries and their average monthly salary.
| Iceland | 67,488 USD |
| Sweden | 47,020 USD |
| Germany | 53,745 USD |
| Switzerland | 64,824 USD |
| Italy | 37,769 USD |
| Hungary | 25,409 USD |
Finland’s salary is in the middle of the pack compared to other European countries.
Final thoughts
If you’re looking for a country that can provide high-quality work, and access to world-class talent, Finland is a great choice. Finland has a long history of producing high-quality work, and its workers are highly skilled and experienced.
As a result, if you’re looking for a country that can provide all of these things, Finland is a great choice.
Elmeri Palokangas is the founder of elmerpal.com, where he teaches on topics like advertising, eCommerce, and making money online. With rich experience in the eCommerce space (he started at 15 and failed literally a million times before finding success) and SEO and content marketing, he strives to share his knowledge with other entrepreneurs to help them maximize their sales.