Everyone would like to earn more than 100,000 euros. According to a recently published study by the career platform StepStone, there are several factors that can contribute to achieving such a salary.
Related topic: How to find a high-paying job in Germany
A six-figure income may be common among CEOs, managers, or chief medical officers, but for many ordinary employees, it remains more of a dream. However, there are three factors that can contribute to earning such a high salary.
1.Higher Education
According to the StepStone study, having a higher education is a crucial prerequisite for earning a six-figure salary. This forms the foundation for further success. While it's possible to earn more than 100,000 euros without higher education, it is unlikely.
People in managerial positions responsible for personnel management have even more chances to earn such a high salary. According to the research, 12 % of employees leading teams earn a salary of more than 100,000 euros per year.
2.Industry and Company Size
Another factor that can contribute to a high salary is the industry in which a person works. In some industries, six-figure salaries are simply more common. These include, for example:
- The pharmaceutical industry;
- Aerospace industry;
- Banking;
- The chemical industry.
The larger the company, the higher the chance of earning a six-figure salary.
In companies with more than 10,000 employees, the proportion of people earning more than 100,000 euros is around 16 %. For smaller companies with 5,000 to 10,000 employees, it is only 10 %.
3.Geographic Location
This factor also plays an important role. According to the study:
- The best earning opportunities are in Hamburg and Hesse.
Overall, 8 % of employees here earn more than 100,000 euros per year.
- Bavaria and Baden-Württemberg follow with 7 % each;
- North Rhine-Westphalia with 6 %.
It's also worth considering the gender pay gap. In Germany, 7 % of men earn more than 100,000 euros per year, while only 2 % of women do.
The study shows that there are no specific factors guaranteeing a six-figure salary. Instead, it is more important to have the right combination of all factors to ultimately achieve a good salary.
Related topics:
In certain industries such as pharmaceuticals, aerospace, banking, and chemicals, six-figure salaries are more common. (Follows from the text about factors contributing to high salaries)
In Germany, only 2% of women earn over 100,000 euros per year, compared to 7% of men. (Contains the words: 'Salaries in Germany')
