this post was submitted on 30 Jan 2024
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Sign me up if you're paying $300k+
lmao, 60k eur tops. wages in Germany suck ass, earning at least something is possible if you are running independent consulting or climbing corporate ladder, having some unique expertise or going extra mile as an employee is pretty much pointless.
How much of that 60k is left after taxes? Is it enough to live on, or buy a home, or buy a home and support a family, or none of the above?
EDIT: Thanks for the responses everyone, very informative and interesting. That's the kind of perspective that may not often be shared and helps understand costs of living.
For the Deutchlanders wondering about the USA's taxes and my question.... 60k would be enough to live on in most of the USA but might not be enough to buy a home or raise a family. But it's highly dependent on your area's cost of living, and the USA is massive with many different areas and tiers of costs of living.
My example for tax costs: I make more than 60k and I only had to pay about 20% of it to taxes and retirement for 2023, in the USA. In my low cost of living area, 60k would be enough to buy a house and support a family but it would have to be on a very frugal budget. I bought my house when I was making about 45k but my spouse also had an income of almost that much.
35 to 40k (if your spouse is choosing tax class with a higher rate) after taxes or around so, depends on many factors - German tax code is complicated.
Generally - barely above "paycheck to paycheck" level, but highly depends on location. In Munich you'll be fucked with this type of salary.
lmao no. Houses are mainly for older and retired people or rich, vast majority of active workforce are apartment renters, more fortunate ones were able to save/get help from relatives for mortgage. Total home ownership rate in Germany is 46.7%, lowest of all OECD countries - and that's including older people who got their homes during better economic times. Neat trick about Germany is that you have to have both stable job at big company and a lot of cash on your hands to cop a mortgage, since 20% downpayment + taxes/fees and other bullshit that run at around 10% of the total price make good barrier.
Not really, adults in the household have to work, 60k is not 'breadwinner' type of salary at all. In general, tech workers aren't special in Germany, if not for US companies branches they'd be earning the same as everyone else and in many industries (like transportation), where pressure from international market is not present that much, they still do.
It was good while it lasted, but Germany is heading into some pretty interesting times in general, younger population is absolutely fucked.